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I would be in
if we could pool our shares and start a private equity firm - with a holding in FOGL and get someone to represent us onto the board of directors. ??????
Hi all I dont post much but thought id share a few words. Iv been locked in here since the £2 days and have £10000 worth of shares which equates to approx £400 now. Iv been wanting to average down for long time and believe this is a steal and have today bought another £5000 worth. I believe we will slowly recover back to the 20s by early next year and with the oil price hopefully increasing the sp will slowly recover aswell. This company has 2 discoveries and are fully funded with no future share dilution. Do the maths. A strong buy from me. GLA
Why on earth are we still hovering around humpback put the plug in and move on at 500k a day not cheap. More money as been spent on a so called duster/non commercial well than are both strikes mad mad world.....
The way I see the current share price is just down to simply our only quantified asset. As eegbvi's previous post that ballpark figure does near enough match the current mkt cap (unless I've really cocked up on this). Its quite an obvious thing to state, but we have no actual figures on the amount of oil we have. Please do offer differing views as I love learning about the oil sector!!
Ants Thats the annoying thing. Its an "apparent duster", nobody really knows and thats what bad about this whole episode.
...to less than 11p :-( so the bonus drill failed and we still have the next drill on a free carry plus plenty of cash and no need for a placing plus the existing oil finds have not disappeared a 50%-ish reduction in the SP seems like a massive over reaction to an apparent duster which only ever had a 20% COS anyway aim manipulation is a disgrace
why?
As you say it looks very oversold, just picked some up and hoping we see a recovery in sp not a further decline, surely this has been rung out enough now.. !! Argentina elections on the 22nd I believe and then watch the news reels roll on how much oil we found on the previous two finds... http://www.forbes.com/sites/nathanielparishflannery/2015/11/05/what-should-investors-know-about-argentinas-presidential-election/
bought some today ...........seems well oversold
So enough funds No current plans for placing Just the bottom reaches of Humpback farmed out further to Ig , so maybe not all of our SFB area. Feeling a bit better now
Anybody know whether we are in play again, I've held these since Desire...
Dan, Thank you for your email and points raised. The company has no current plans to issues new shares to raise additional funds. The Company will have sufficient funds at the end of the current drilling programme having taken steps to ensure this through an additional farm out to Noble Energy at the lower horizons in the Humpback well. Ed From: DAN CROWN Sent: 04 November 2015 14:00 To: Info Subject: private investor I am really not happy with fogl for the following reasons:- lack of market information relating to financials of the business - there is a huge concern here now re a potential placing as the company is skint. results of humpback well and a little more information regarding what happened. My understanding is that an aim based business has to act in the best interests of their shareholders and this lack of information is killing the valuation of the business and hence my investment in this company. I understand that investments carry risk but it should be informed risk with information. I do not want to come across as someone you wish to avoid but would appreciate some answers re these points above? Regards Dan
Crikey it would be nice to see a blue day, have been through this race to the bottom with BOR and it is not fun, BOR crashed through 2p at one stage earlier this morning by the way, Would just be comforting at present to think this has bottomed out. Nice to see some more sanity on here from eegbvi, I am still fully committed to FOGL but weeks like this do test the constitution somewhat. GLA
to get back to the 14-16p range. Complete oversold
Auction
Depressing.
Yes and I have a ticket to Mars !!
Isobel
Spud next week...
Up she goes.
seawee looks like you could be right.
It's got to be around here now although I thought that at 13/14p , anyway I'm in now so rampers get ramping please :)
eegbvi Thanks for your balanced view. It makes a change from all the derampers and shorters on here at the moment
There's a lot of nonsense on here over the last few days mainly from people who appear to know nothing about corporate finance. There will be a share placing but certainly not until 2016 probably Q2. There is simply no possibility of any placing at present since FOGL doesn't have any real information or numbers to support that and will probably not have what is needed until late January 2016 at the earliest, post Isobel & final Humpback analysis (which I suspect will be better than the market thinks). As to where FOGL goes next I assume it will be some sort of JV re the other NFB blocks it has 100% of at the present moment and if as is hoped Isobel step out comes good then FOGL should have no problem there since both PMO and NBL at least will likely be keen plus maybe some new interest from others once the Argentina situation improves. Regarding cash if as reported Humpback cost $200 mln then FOGL's was 27.5% of that less the last bit of the HPX drill so its probably around $50mln for FOGL. That would leave FOGL with around $40 mln cash plus $10 mln from PMO/RKH and something back from both the Isobel and Humpback insurance plus the rig owners. With that FOGL should have $50 mln plus and a free carry re the Isobel step out so there will be no particular rush for any new funds until well into 2016 probably on the back of a new investors presentation which I suspect may be ready late March 2016 on the availability of audited CPRs and cash statements etc. This is far from an AFR situation and as for ChrisOil he is a busted flush and should stick to the B&B business. The oil price should also be a bit better in 2016 and that would help FOGL.