ARG.L Share Chat (ARG)

After some 8 months of pursuing both Barclays and JHI, I received a call from Barclays today confirming they have received scanned copies of the JHI share certificates for redistribution to those that were holders of ARG shares with Barclays. Barclays advised me they anticipate they will now begin that process.

I'm informed the new JHI certificates will be paper certificates.

Interesting as eco have a 6.5 % holding in JHI landlord of pl1 falklands

My JHI have finally arrived in my IG account as of the 24th Oct 25..

My JHI have finally now appeared in my Hargreaves Lansdown account. They are not tradeable but at least they are there.

still first direct's corporate actions group have no information on the **************. anyone else in the same predicament and if so what can we do to make sure that they are informed?

Message from II.ref Jhi value:

Thank you for your secure message.

The new JHI shares you have been given are not currently trading on a recognised stock exchange, therefore they do not currently have a 'value' in the sense of having a daily trading price. This does not mean that the shares are worthless', only that they aren't trading and don't have a price.

Being representative of a portion of the company's ownership, the shares have an intrinsic value which can't be quantified, but they have certain rights attached, including the potential for future distributions, though we can't confirm if/when any material event will occur at this time.

Does anyone know the value? Even rough idea of how much a JHI share is worth?.

Yep, I'm with HSBC and have received nothing, always 3 steps behind!

Arg shares should still be showing in your account though with nil value?

Anyone using First Direct or HSBC got their JHI shares? I have received nothing

I own some!

Have already had JHI shares credited to my Lloyds account and today ii announced that they were going to distribute JHI shares to Argos holders on basis of 0.03389 JHI shares per Argos share. So progress at last. JHI are not quoted on any exchange but their value should be fortified by the recent good news from Navitas (Shenandoah oil flow) and RKH (proximity of JHI/Arg acreage to Sea Lion).

JHI associates

Westmount Energy, an London Stock Exchange company, ALSO has an interest in JHI as it bought shares in JHI recently. It will be good to learn how to trade JHI as it looks a 'promising' company. No doubt we will find out in the fullness of time.

· "JHI, North Falklands Basin - reawakening of interest in Production Licence PL001 is anticipated post the expected mid-2025 FID of neighbouring Sea Lion development"

"As of the 31st December 2024 Westmount held a total of 5,651,270 shares in JHI Associates Inc ("JHI"). Upon completion of the Argos-JHI transaction, as announced on the 25th September 2023, and subsequent to the voluntary liquidation of Argos and the distribution of JHI Consideration Shares to Argos shareholders it is estimated that Westmount will hold circa 5,684,870 shares in JHI, representing approximately 6.24% of the enlarged issued share capital of JHI."

https://www.londonstockexchange.com/news-article/WTE/interim-financial-statements/16962486

Health warning:

The below information is complicated, incomplete and possibly incorrect. However it may have some form of knock on effect on to Navitas and Rockhopper in the future. So:

• Argos Resources was bought up by JHI Associates Inc.

https://www.jhiassociates.com/north-falkland-basin

• Eligible holders will be issued with approximately 0.03389 shares in JHI Associates Inc. for every 1 Argos Resources Ltd share held.

• JHI is now the sole owner and Operator of North Falklands Basin PL001 Production License.

• In March 2022 it was stated that Eco (Atlantic) Oil & Gas Ltd was to acquire JHI Associates in a US$52mln deal.

• Eco Atlantic is a Toronto Stock Exchange Venture Exchange (TSX-V) and Alternative Investment Market of the London Stock Exchange (AIM) quoted Atlantic Margin-focused oil & gas exploration company.

https://www.ecooilandgas.com/about/

• But later in 2022 Eco backed out of the deal. But they keep about 7% of JHI shares.

https://www.lse.co.uk/news/in-brief-eco-atlantic-oil-gas-backs-out-of-jhi-associates-deal-wiv0xky827ig0t2.html

• Then on 28 July 2025 ECO comes out with:

“Overview of Operations

“-------- and through a 6.4% interest in JHI Associates Inc. (“JHI”) is the indirect owner of an interest in the Canje Block (the “Canje Block”) Offshore Guyana, and PL001 in the North Falkland Basin --------"

“In September 2023, JHI completed an acquisition of 100% Operated interest in PL001 North

Falklands Basin Licence, which covers approximately 1,126km2. PL001 is adjacent to the

Sea Lion development (Navitas, Operator (65%) and Rockhopper (35%)), which is reported

to contain over 500 million barrels of recoverable oil. JHI has completed ADF® processing on 550 km2 of high-quality 3D seismic over the Eastern Graben of PL001 with Apex Spectral Technology of Houston, Texas. This satisfies JHI’s work program commitment to the Falkland Islands government for the current license period.”

https://wp-ecooilandgas-2020.s3.eu-west-2.amazonaws.com/media/2025/07/EOG-MDA-March-31-2025-FINAL.pdf

OK enough is enough. There is plenty more to research on this on the Web. But better researchers than I will make more sense of it all. My initial take is:

1. JHI bought Argos for the potential FI oil field.

2. Much later ECO makes a sight change in emphasis to being ‘Atlantic Margin-focused’.

3. Eco, as a shareholder of JHI, is keeping its eye on the development of the FIs by still holding some JHI shares. Though to be fair it always states its interest is in Guyana,etc. Not the FI.

4. ECO may want FI involvement by way of:

a. Buying JHI.

b. Increasing its stake in JHI.

c. Somehow joining JHI in opening up the field.

d. Joining Navitas / Rockhopper.

e. I am sure that some of you clever lot can think of many more options.

I suspect ECO of being interested in any possible opportunity arising. Read their website to get my drift.

Getting 3.4 JHI shares for every 100 argos = no quoted share price -

i had 125k whats that gonna be worth ?

Got nothing have emailed them

Any one received any thing ?

31st October was target date by OPUS, however it may slip a couple of days

JHI Share Certificate to be issued to shareholders this week

Hi, nothing has been communicated to me as to how to claim our interest in JHI? Does anyone have any information please?

And in the words of Disney,That’s all for now folks!

Also wondering what to do ,as I have Arg shares with Halifax ,and now you can’t buy and sell do they keep hold of them for x amount a year, or do you withdraw them and bottom draw ?

Could anybody help explaining what happens now. My Barclays stock broker account shows my 8000 shares in ARG are worth £28. Can I still cash them at that or is there anything that will happen with the JHL shares. Have only just found about the nightmare as I’d put these in the drawer as you might say?

Https://www.proactiveinvestors.co.uk/companies/news/953462/eco-atlantic-oil--gas-to-buy-stake-in-jhi-associates-to-gain-exposure-to-canje-block-953462.html

$2.00 a JHI share was paid.

😭

Oh no how we going to talk about what our shares are not doing now lol GLA

This is it, the last day to buy or sell your shares before they delist.

AGM 5p.m. Falklands ( 9 p.m. UK ) - when do you think we'll get results etc ? ( UK Bank Holiday Monday 29th )

AGM- shareholders deserve more clarity

The bottom line is you can’t, maybe if they drill and had a discovery they could get bought out by a bigger player, then you would get a percentage depending on what percentage of JHI you own OR they could re-list in the future but that is way, way down the line I’m afraid. Drilling in the North Falklands basin most likely won’t happen till 2026 or later. Possibly something could come of their acreage off Guyana but they are waiting for other players to drill to ride on their coat tails. IMHO Story of Falkland’s Oil exploration all over, always waiting on someone else!

Good luck whatever you decide to do.

LTT

Buffit-sorry situation, as regards broker,he was very none committed and pushed for selling asap (surprise surprise) at todays share price and as to what I’ll get back I’m going down the lines of leaving it see what develops just wanted some feedback on how you make money on a Canadian non share investment

Hi winger1 - I'm in the same situation - don't fancy holding those JHI shares. I'm waiting for the AGM tomorrow to see if there's further clarity - otherwise probably sell. Good luck. Did your broker have anything else to say apart from SELL ?

Where do we stand if you decide not to sell (for obvious reasons) and your investment is in a Canadian company ,if they decide to drill (big if) how do you make any sort of profit, forgive my asking ,as have never been in this position before, and invested in shares to buy and sell ,sorry if it comes over as desperate,(lost all investment on paper)and my broker is screaming sell before June 6th.

Warwick hunt.

I did muppet sorry it changes words on me

hope you wasn't too confused and you didn't lose too much sleep

Did you mean consolation ?

And there we have it notification of proposed delist on the 6th June. conciliation they will still be there as and when they relist hopefully after first oil

I would be very cautious about investing in what will be a private entity, RBD invested a fair amount in private companies. Worth looking at their company history.

Hi all,

Quite new to this and need help please

would the below fomula be correct ?

235.14 ml Argos / by 8 mil JHI / @ $12.86 be correct ?

Or how much would 100k Argos shares be worth ?

THANKS

The kitkat cannot help themselves but to look the total f00l they are. Sad situation for the persons state of mind.

On 5th May Market-Dealer posted this entirely misleading line;

"Also, Argos's acerages has over 10b barrels of oil, Rhea is as big as SL (probably is bigger

Than SL) only few km from Sea Lion,"

Today , when challenged on his assertion that ARG has oil posted this;

"You are the f00l cos you haven't read anything"

Read this which I posted on 22nd October 2021;

"Good morning Falky

You wrote;

"Argos is better investment than Rkh, the risk is the more less the same,

But the rewards can be a lot higher....IMHO"

How can the risks possibly be the same ?

Argos has not found any oil let alone fully appraised a giant discovery as Rkh have.

Argos spell it out clearly;

www.argosresources.com/perch/resources/arg-2019-annual-report.pdf

page 11

'General exploration risk'

"......no commercial volumes of oil or gas have yet been discovered and there is no certainty that such discoveries will ever be made." "

That is ARG themselves clearly stating the TRUE position

Why argue. They are de-listing. You can still sell this morning.

So Garbled, just to be straight, are you telling it’s nonsense that ARG haven’t found any oil? Or, as I am no f00l and read all the rns’s, is it a fact? I have read nothing that tells me ARG have hit any oil. So, one of us lying, who is Garbled?

Who's the f00l? I see ARG have no oil , you said they have a bigger field than Sealion. You are a liar , they have no oil. Come clean and admit your lie.

The doomsayers Garbled? You shouldn't be allowed anywhere near a board. How can you say ARG have a bigger oil field than RKH when ARG haven't found any oil? That really is just bare face lies on here from yourself.

Eco was meant to pay $52 million for 100% of JHI. Arg gets 9.3% of JHI of the enlarged JHI, so roughly £4million plus whatever you value ARG at. Current market cap of ARG is say £2 million so £4.2 million.

One year ago ARG market cap was 6 million and one would assume ARG would easily have travhest £6 million market cap now that SL is very likely to go ahead with the Navitas news if it was not for JHI interrupting everything.

Just thinking:)

N.

from another board : if you guys do the calcs, JH Assoc. have paid quite a hefty sum... certainly way more than the current market cap of ARG. ARG shareholders are getting a slice of JH Assoc super cheap. The company makes $40m+ profit / annum. Last time they sold shares in the company to another outfit, the price was c£1.60 per share. This deal values the ARG shares at 4p.

Arg should have done a deal with RKH.

Understandably there are people keen to get out and they will tell you this is a great buy.

But it's not. Having already bought, existing holders have a tough decision to make and I wish them luck. Anyone buying in now is just ****ing away their hard-earned cash.

All IMHO DYOR
Happy

https://www.stabroeknews.com/2021/11/01/news/guyana/exxon-finds-third-dry-well-in-canje-block/

Unfortunately Exxon drilled a well (or two?) but they came up dry.

I think JHI stake in Guyana is probably worthless. That's why they are interested in FI.

All IMHO DYOR
Happy

How can it reach 50p- 200p when ARG shares no longer exist ?

correction :

8,000,000 in exchange for 213,000,000 shares

213,000,000 in exchange for 8,000,000 shares

JHI sold a stake back 2021 for $2 per share

www.oedigital.com/news/488764-eco-atlantic-joins-exxonmobil-s-canje-block-off-guyana

so if you have 1,000,000 arg shares, you will get 38,000 JHI shares

even if JHI shares are worth say $1.50, then your stake in JHI is worth $57,000

they are churning out $43m+ profit (that was a few years ago... it'd be nearly double that now)

markets.ft.com/data/announce/detail?dockey=1323-14680916-6HSSS4PUSC9682MC7HBUI8DHUA

i wouldn't buy with this spread just too big...crazy

With the Falkland Islands oilies I've always looked at them as a % chance of actually getting some oil out the ground, with it changing here and there based on the information available, some of it the minutia that takes place in the FI (visits, changes in personnel, etc.) and also the wider stuff. They're all a bit of a long shot, I always had ARG (backed by my 80% loss in value) as having about a 1% chance of actually drilling oil. Possibly with new owners, I'd make it a 3%. A long shot certainly, but worth holding onto my worthless shares.

The reason for the spread is fundamentally nobody is buying or selling (as usual), I have £36 in my freetrade account, I wonder how much I can influence the share price?

today on ARG...PTR worth a look....why such a wide spread

As long as I can remember Argos was always the laggard amongst the Falklands oilers, run badly by lazy people sitting on their ****s all day long, waiting for someone to come along and do the heavy lufting for them. This is not the 1980s and with today technology there is many ways they could have tried to drum up interest in their licence and company if they only could be bothered.

Now they will be taken over by another laggard…..JHI.

Surely there must be another solution? Maybe somewhere down the line RKH/Navitas will buy in?

I get the negativity here but disagree that it's game over.
Let's be honest, what is soul destroying is Arg sitting at a penny issuing endless price monitoring extensions while managing to accomplish sweet FA. Can't say I'll notice the difference much holding as a JHI associate, at least something will get drilled and if Rocky start making a fist of things we could see some genuine interest in our humble Guyanan deep-water play.
Whether we ever get to see a return I conceed is highly debatable but not over by a long shot.
In fact, if we dip below 0.5p again I shall instigate my own liquidity event and buy some more at these crazy givaway prices! ;)

NOBONES4THEDOGS

"Question for Buffit and Happy is it really your recommendation for people to sell out at circa 0.35p?"

This is a very good question and a fair challenge.

I can't recommend what investors should do because, frankly, there are no good options left at this stage.

Everyone's circumstances are different. My personal thinking would be, can I sell and realise a tax loss which I can offset against gains elsewhere. That way I still get some value from past, poor decision-making (i.e. not having sold sooner).

I would personally find it soul destroying to hold a certificate for a non-listed entity such as JHI associates, which I can't sell in the foreseeable future. Also, on a fully diluted basis, your holding will mean next nothing at circa 6% of JHI. What's to stop JHI issuing lots of stock options in future and diluting you to 1 or 2%?

I think this is really insolvency by a different name. What one does with the shareholding at this point is of little practical consequence.

All IMHO DYOR
Happy

Drivel? It's a fact , shall I dig the post out for you ?

It wasn't so long ago you couldn't believe this wasn't 5p Garbs. Well, 0.55p has the 5 in it I suppose.

Fair play, although might not be that long, weren't JHI subject to a bid from ECO last year?
I would have hoped RKH would at least take a look, vaguely recall they snapped up FOGL for peanuts long ago although could be wrong on that.
Should buy us out for an advanced chunk of the ICSID award or a couple of Italian superyaughts!
Non refundable deposit is surely JHI's business. Will the deal get approved anyway?, Directors only holding 20% here!

This little Fairytale has ended. Promised so much yet lost shareholders 10s of thousands. The oil sector and AIM are a tough crowd

Just dropped in here to see why the big drop. Looks like another con job. Wouldn't invest here

Now 4 months since RNS announcing sale of FI interest. Why no update?

Why the need for constant rns price monitoring its not changed also same price in morning sayin 23 % down but come 4 o'clock it will say it's up no change in sp ????