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This RNS alert is brought to you by Digital Look. RNS Number : 4537T Falkland Islands Holdings PLC 28 September 2010  28 September 2010 Falkland Island Holdings plc ("FIH" or "the Company") Falkland Oil and Gas Limited - Licence Update Falkland Islands Holdings Plc ('FIH') the international services Group, which owns essential services businesses focused on transport and logistics notes the announcement today by Falkland Oil and Gas Limited, regarding an update on its licence area and operations. The text of today's announcement by FOGL is shown below: Falkland Oil and Gas Limited ("FOGL" or "the Company") Licence Update FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, announces certain changes to its licence arrangements with the Falkland Islands Government. Northern licence area Due to the tight rig market it is increasingly unlikely that the next phase of the drilling programme will commence in 2010 as required by the current terms of the licences. Following recent discussions, the Falkland Islands Government ("FIG") has agreed to extend the first phase of the northern 2004 licences by one year, so that they will now expire on 15 December 2011. No additional work obligations or acreage relinquishment will be required in respect of this licence extension and the existing Phase 1 work commitments remain unchanged. Southern licence area Separately, BHP Billiton has advised FIG and FOGL that it has elected not to enter the second phase of the southern 2002 licences which commences on 3 December 2010. FOGL believes, based on the drilling results from the Toroa well analysed to date, that these licences are still prospective. Furthermore, we are still awaiting the analysis of some key well data and these results are now expected to be available in October. FOGL has identified a number of prospects and leads which may prove to be of interest, particularly in the event of drilling success in the deepwater area of the northern licences, or in the south, where the licences are contiguous with acreage held by Borders and Southern Petroleum. Having fulfilled all the work obligations of Phase 1, FOGL has therefore decided to enter the second phase of these licences. This will entail the drilling of a single exploration well by 3 December 2015. BHP Billiton will assign its 51% licence interest to FOGL which takes FOGL's interest back to 100%. FOGL expects to take over the operatorship of these licences during the next few months. Assignment of interest and change of operatorship are conditional on the approval of FIG. Tim Bushell, Chief Executive of FOGL, said: "We welcome the Falkland Islands Government's understanding in agreeing to extend the licence terms. We intend to continue actively exploring the southern licences and
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i expect lots of frenzied news and activity from the oil companies, i just hope the fkl directors are quick to see the opportunities and capitalise on them.
Creeping up? Surging up would be a better description! Lots of heavy buying yesterday; interesting.
perhaps RKH confirming their find is commercial! Falkland islands has a lot to gain from these activities, expect it to creep up a bit further in the coming weeks
Anyone know why there is a sudden interest in the company to send the sp soaring?
Anyone else noticed the share price is the same as it was before RKH even found oil, let alone confirmed it was commercial!
and holding firm, this is a lllllooooonnnnggggg term play involving a lot of factors. patience is the key,,,,
This RNS alert is brought to you by Digital Look. RNS Number : 3904S Falkland Islands Holdings PLC 09 September 2010  Falkland Islands Holdings Plc AGM Statement Falkland Islands Holdings Plc ("FIH" or the "Group"), the international services Group which owns essential services businesses focused on transport and logistics and which has a major shareholding in Falkland Oil and Gas Limited ("FOGL"), is holding its Annual General Meeting ("AGM") at 2.30pm today, 9 September 2010, at the offices of Financial Dynamics, 26 Southampton Buildings, London WC2A 1PB. At the AGM, Chairman, David Hudd, will make the following statement: "Overall the Group continues to trade in line with management's expectations with satisfactory performances at each of the operating businesses despite challenging trading conditions. At the Falkland Islands Company, the disappointing illex squid catches in April and May 2010 resulted in a quiet start to the year. However, oil exploration has boosted activity on the islands, especially in the retail sector. Benefiting from the expanded West Store, year to date retail sales are up 24% on the comparable period last year. However, automotive sales have remained subdued and profits from property sales are currently behind last year. Momart, the Group's fine art logistics and storage business, has performed solidly in the year to date with pressure on exhibition activity being partially offset by increased demand from commercial galleries and collectors. At the Portsmouth Harbour Ferry Company, passenger journeys for the year to date are 3% lower than last year, with discretionary weekend journeys particularly affected. We are pleased to report that good progress has been made in securing a 50 year lease from Gosport Borough Council for a new ferry pontoon. With the appointment of a locally based contractor imminent, installation of the new pontoon is now expected in Spring 2011. The reduction in Group borrowings and the elimination of an interest rate collar in January 2010 have seen interest charges fall sharply and interest cover correspondingly improve to even healthier levels. The Group's 12 million FOGL shares had a market value at the close of business on 8 September 2010 of approximately £14.2 million, equivalent to 153.7p for every FIH share in issue. Assuming approval is granted by shareholders at today's AGM, a final dividend of 5.0p per FIH share will be paid on 29 October 2010 to shareholders registered as at 17 September 2010. This payment will take the total dividend for the year ended 31 March 2010 to 9.0p per share (2009: 8.0p per share). We anticipate that the economic environment will continue to be challenging for the remainder of the financial year. However, the Group's overall financial position is robust and we remain well placed to take ad
are now jumping the FKL ship - as predicted!
Thanks for that. Yesterdays drop here and FOGL rise has twisted my head a little so just weighing up my options.
FKL have a significant shareholding in FOGL (though not as significant as some weeks ago - they sold a slice to take profits on the pre-spud rise) - so they have direct exposure to anything that happens re dusters or strikes by FOGL. However they should be getting an indirect slice of the action from RKH and any of the others spending money out there. Yet another company:- Argos Resources will be drilling soon.
I feel more gutted today than yesterday. Was quite please that the SP didn’t go crazy yesterday (although it was 30 odd % at the start of the day). Some people did appeared to panic but was rather proud of myself for not being one of them. Today however see's another 5% fall when fogl RISE 8%. Thats nothing short of a good old fashioned kick in the nuts!!!!! My only comfort is that i got into BG right at the bottom and its all but wiped out my losses on fkl. To be honest I don’t have the time nor patience to get involved in the fogl message board so hopefully a couple of you will be able to give their thoughts on a couple of questions... 1. Am I still right to think that FLK will rise considerably on the back of any FOGL oil strike? 2. Due to the nature of FLK and the amount of business interests they have on the island, should there SP be falling just because just ONE of the ollies has one failed strike? In other words should they not benefit from all the companies working out there at the moment? 3. Does anyone have any thoughts on a comment I read yesterday about the "smart investor" is looking at companies drilling in the North Basin? Easily said now I know with RKH in mind but could there be such a huge difference between the N & S? And if so WTF is FOGL doing there!? Any thoughts welcome.
http://www.investegate.co.uk/Article.aspx?id=201007120936281832P
FKL will also take a severe battering today, given their holding of FOGL. Expect there to be rampant panic selling of FOGL and FKL
to see this rise as well on the back of the FOGL rise
the financial results are very trying! It is only the lure of black gold that is blurring your vision!
temperatures: degrees C Stanley 5.2 - not bad for mid winter! South Pole -46.1
Really excellent financial results. Note that FOGL is factored in much lower than todays sp, so even more strength off balance sheet. Increased activity in the Falklands area makes FKL a very strong mid to long term hold IMHO
http://www.investegate.co.uk/Article.aspx?id=201006230700070663O
bit late now, but looking back over evens, the ftse100 had a negative day, there were a fair number of sells, the preliminary results our coming out next week, and finally, fkl sp does wander around quite a bit for seemingly no apparent reason. Like everyone says, dyor, but I doubt if it is anything significant. I agree with the sentiments of my friends' postings on this bb, fkl is in quite a good position as the oil industry builds up. I notice now from various rns's that all the major investment houses are buying into Rockhopper, which I reckon is a good sign. It'll be interesting to find out what fkl's management think of the developments.
Anyone know why we had a big fall today?
that is assuming there is no further issue of shares for either FKL or FOGL, surely FKL have other activities too to factor into the equation apart from their holding in FOGL but see what you are saying
DISCIPLE , agree thats the way i see it myself . --------- larryh , "FKL" its a way of holding (having indirect stake ) "FOGL" at a reduced risk = reward , through exsposure to the four ( the effect of Oil monnies on realestate values -(imo)- ), & i agree initialy , if "FOGL" strike Oil , in the short term "FKL" will obviously , £ for £ (becuse of s/p levels at entry here) return less on the investment initialy !? ---- my major investment in "FOGL" , is through a direct shareholding. BW Wraith
Nice post larryh. The reason I own FKL shares is a simple one, I dont own it because of the 8m shares in FOGL. Nice bonus, but not the reason i bought in to it. The reason i bought is because of the £m's of investment the oilies are going to invest down there, thats why i own FKL. So if FOGL find nothing, but another company does find something, I still win.