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Hi EmeraldCarrots,....I don't look in here very often,.....as you say, very illiquid share,.....with RKH arbitration result overdue, once that is announced & out of the way,.....my thinking is, Harbour Plc intentions, regarding Sea Lion, may become clearer.
I tucked a few more of ARG shares (s/p@2.2p) away today,......not showing above, I see they went through on the "Aquis Stock Exchange" ( https://www.aquis.eu/aquis-stock-exchange ),....we are still on a very good Gross Average s/p level, here at ARG (sub s/p@1.89p),....agree, a lot of potential upside, from these levels, should Harbour Plc, decide to progress Sea Lion.
BW
Falklands Sea Lion oil field ARG shares ciuld easily top 10p.
All IMHO.
Good news for the Falklands , now HBR can concentrate on Sea Lion
at the falklands oil potential do not write off Argos. They have the rights to drill in the PL001 license area off the coat of the Falklands. JP Morgan Asset Management (UK) Ltd hold 4.63% of the shares.
Here is the prospective resources document:-
http://www.argosresources.com/docs/ARG-CPR-JULY-2013.pdf
OK it's very high risk but if harbour decide to go ahead developing the massive "sea Lion" discovery with Rockhopper Plc then the shares will IMHO rocket North of 10p a share (currently 3p ask).
All IMHO
I should add as ARG have the drilling rights to a sea block not that far from the Sea Lion oil find.
Harbour Plc (HBR) looking at whether to sanction financing the Sea Lion oil find offf the Falklands at 3p ask these could be a majoer money earner. 60p/3p = 20 Bagger.............?
All IMHO.
If they HBR confirm sea Lion is proceeding then I would expect 6p or so here.
Then once sea Lion development get s going 11p plus.
All IMHO.
likely big sp rise here. Note Harbour merged with PMO. PMO and Rockhopper have interests in Falklands "sea Lion" oil discovery. PMO were intending to develop..........................
Note sp moves a lot with low volume as illiquid share.
All IMHO.
I think there is a lot going on in the background with FIG and oil companies involved, just a matter of time , directors would not have poured money into the company for nothing.
Just chart indicators, would need another week or 2 here to see but with that spread I've no interest, I'm underwater here so not shooting any more good arrows after bad, pvr looks far better punt right now, GL
IF HBR indicate the Falklands are back in play in HBR's trading update NEXT WEDNESDAY. With the oil price @ $73.22 the chances of this are clearly far better than 6 months ago!! Worth a small punt here I think. I already hold.
All IMHO.
possible IF HBR indicate the Falklands are back in play. With the oil price @ $73.22 the chances of this are clearly far better than 6 months ago!! Worth a small punt here I think. HBR trading update NEXT WEDNESDAY.
All IMHO.
What makes you say that? Looks to have been pretty flat to me over recent months.
Looks interesting on daily
Wraith.
Your dead right. I've got in here 3 or 4 times previously over the last 5 years @ 3p ish, and when any positive Falklands oil news is out then ZOOM!! I've cashed out @ 11p ish at least once here, and I think 8p ish as well. In again here for hopefully double, quadrouple or more profit. With premier oil now merged with harbour Plc things could get very interesting, especially if the oil price stays over $60 or more.
IMHO a strong buy but be prepared to wait months.
All IMHO.
Just been catching up here at ARG,....good to see we have our PL001 Licence Extension & Fund Raise,.....with only 221m in issue, on any positive farm out news, ARG s/p will move strongly to the upside, (IMO).
BW
Hopefully this time it will happen,re-cyan,I’ve never understood why someone would want to post so much negativity about a share they have no interest in, in,lol.
Noble got exasperated with PMO lack of money and knew they would never sanction SL FACT
Good evening Tuggy
You wrote;
"Noble only gave up the licence when three weeks away from the drill they had to call force majeire due to the blow out problems on the platform Erik Raude.
If COVID had not happened and oil sank , Noble might still be on board.."
12.2 16 RNS ;
"Noble had been planning to drill an exploration well on Licence PL001 which was due to commence shortly using the Eirik Raude drilling rig, which is currently operating in the North Falkland Basin. Due to operational issues with the rig, Noble has cancelled the Rig Contract, leading, in turn, to the notification to Argos of Force Majeure."
However Noble retained interest until October 2018; long before COVID and 2018 was a good year for POO; averaged $71
4.10 18 RNS
"! ...announces that its Working Interest partners in the Licence, Noble Energy Falklands Limited ("Noble") and Edison International S.p.A ("Edison") have served notice of their intention to withdraw from the Licence.
The Company intends to take a reassignment of the Licence from Noble and Edison, as provided for under the Participation Agreement entered into between the Company, Noble and Edison in February 2016. The Company is already in contact with the Falkland Islands Government to seek the required approvals to transfer the Working Interests back to Argos."
Even in a good year for POO; Noble gave up.
As for associations ; nothing special there. If only NAVITAS had a lot of money. They got a fantastic deal (yet to be signed off) with their farmin to Sealion. All they had to do was pay a relatively modest amount of development capital; basically got circa $300m USD worth of appraisal drilling all gratis
Noble only gave up the licence when three weeks away from the drill they had to call force majeire due to the blow out problems on the platform Erik Raude.
If COVID had not happened and oil sank , Noble might still be on board, however they themselves were bought out by Chevron, so it seems when one door shuts another opens.
Navitas worked alongside Noble in the Med, so one can see the possible tie ups and John Hogan worked for Chrsysoar now Harbour up to Sept 2019.
"Remember Noble..."
They dumped their interest in Argos.
I am struggling to see why anyone would rather invest in ARG exploration rather that the proven SEALION assets. The latter phases of SEALION have been effectively written off and its all about Harbour and their phase 1 only SEALION decision. As Navitas proved with their planned farmin; its possible for a potential partner could get a cracking discounted entry into the proven Sealion asset.
Directors cash injection suggests they are optimistic.
I doubt it be in double digits given the low volume
If Harbour Plc decide to go ahead with the Falklands (after merger with PMO) then ARG shares will rocket up. In fact a takeover would probably happen as their market cap is les than £10m. Any partner of Harbour, or Harbour themselves could easily take them out. With the oil price nicely over $50 and saudi wanting it to be more like $75 the falklands could yet be on the front pages of the news papers.
All IMHO.