The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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I agree....Back when I was in PMO and it hit 60p people were calling desperately for some form of RNS (they did eventually) but there was no need for it.
Nothing amazes me with this share haven been in and out for the past few years and generally ****ed my pot that I was ******* in ...I have now turned myself of to the share and will just let what is invested to either Boom or slowly slowly bust @ 10p it looks a steal or a foolish buy if it continues to fall ...Trying to catch this falling knife is not for me
Can anyone explain the lack of anything from our BOD. Any guesses as to what share price they feel like they might want to / have to grace us with some comms?
You forgot to mention the 85 million barrels of oil that we already have in the sea lion.
I agree...Price of oil down so as soon as there a hint of any sort of bad news the shorters can go to town on an already declining market with low confidence
Very disappointing the share price ATM.
I agree that they have been woeful. They clearly do not care one jot for their shareholders and seem intent on driving the SP here further into the ground.
Two oil discoveries in the North Falkland basin: Zebedee well oil and gas discovery announced on 5 April 2015 - Discovered 27.5 metres of net oil-bearing reservoir and 17.5 metres of net gas-bearing reservoir - Reservoir better developed than anticipated · Isobel Deep oil discovery announced on 28 May 2015 - Drilled to a depth of 2,527 metres reaching top reservoir on prognosis - Bottom 24 metres of the well consisted of oil bearing F3 sands - Has opened up a new play in the previously unexplored southern part of PL004 How can this SP be where it is, something is off somewhere and no direction or limitation action coming from the BOD. Something is afoot!
AndytheMKDon Me too, its been a disgrace despite what the "learned" people on here will have us believe in that FOGL have no control over information, but they do have control over our confidence to keep investing, which is fast draining away so anything positive however small would help at this point. How far can this fall before an announcement has to be made ? Sh*t, they made one quickly enough after an unexpected spike a few weeks ago and it makes me even more sure that the bod wants this SP kept low. Never mind Rodney, this time next year......
I agree with you, the communications and PR on this drill campaign have been woefully lacking in any detail and content. This can't be by accident, somebody wants this price where it is, which is roughly 25% of what it was pre-drilling campaign despite two further oil finds. The Mcap is currently £34M, which has to be a steel if it is bought out, given the oil they have attributed to their acreage, with more to be proved up over the next couple of drills. So much for the "herd arriving" and £1.00 + on further finds. I truly can't believe this stock is 10p with as you say the potential to go lower whilst some good news is awaited.. Is the stock a buy at this price? You would think so, but those were my thoughts at 30p and 20p.. The BOD have a lot to answer for and it's time shareholders took them to task over their performance.
hilarious post, lmfao. given where the sp is right now, how many fogl holders do you think are sitting on gains?
Anyone noticed that on the FOGL maps of the NFB PL004/PL005 that Isobel/Elaine stop right at the southern border of PL004. Could the Isobel/Elaine complex carry over into PL005, dramatically increasing FOGL's share of Isobel/Elaine complex, could Susan to the North of PL005 be apart of the Isobel complex.
Close, but its not over that, they want to takeover FOGL alI IMHO wait for the 21p takeover offer
Again eegbvi you presume wrongly,about Argos. Argos have cut a deal which gives Noble 100 licence to control and pay for every conceivable cost during and after drilling and production , this was not the case with Fogl as they were always short of cash , as seen in the last two weeks on the drill of Humpback. Not wanting to cause offence on this board after the dismal last week for the shareholders , it was always very much a punt drilling in the SFB hence why BOD bought into the NFB. The writing was on the wall when NOBLE declined drilling the second well and bought into Argos. I do not think for one moment that Argos would go into an ORRI deal without caveats regarding the payments being forthcoming. However the threat of dilution will I am afraid always cloud the shares in FOgl but the Isobel field hopefully will be there saviour . But again they are dependant on the sanctioning of production by PMO. Noble if successful at Rhea will go into production probably in partnership with another company , knowing they are 100 per cent control , that is the rub.
Don't panic. I believe deal has to be struck between FOGL and PMO/RKH over Sea Lion development due to some of the reserves falling within FOGL's blocks, and according to FOGL their reserves are substantial. Then there are the discoveries at Zebedee and Isobel and the fact that the discoveries have derisked neighbouring prospects in the NFB which are 100% owned by FOGL. In the near future FOGL has no further planned drilling or development expenses that I am aware of. But will FOGL sell or farm out some of their interests or get bought out? No need to issue more shares or raise capital, if you have assets to sell. In the current climate I can't see any further drilling in SFB though until revenue starts coming in from the NFB. At present, it would seem that the biggest risk to FOGL is any delay in development of the Sea Lion and development of the North Falklands Basin. I think that may depend on the results from Isobel and the oil price. If the appraisal of Isobel is good, that may encourage Premier to press ahead and could tempt a partner to join in. I still think it too early to say if Sea Lion will be delayed, it is looking more commercial with these neighbouring discoveries. The oil prices in 2016 and 2019 when first oil is due could be very different from today.
We don't always see eye to eye but there may be a grain of truth in your assumption. From the NBL behavior this time it doesn't bode well for ARG and its shareholders as I suspect they will wind up with any crumbs that NBL decides to throw them.
Shale drillers bankruptcies just started. Parsley a couple of days ago gave us the the text of some US oil idiot trying to tell OPEC that shale is doing well even while his own company is in trouble. Pioneer, Hess and Marathon won't go bust but right now they are losing about $20 per bbl of oil produced, hence the shouting to the press. Who do they think they're fooling ?? Re any FOGL new funding that has to wait until late January I suspect, after Isobel step out results plus at least draft CPR for institutions. Can't be done at present as not enough information is available. By then oil price should also be better.
a while back, at the AGM or something similar, it was mentioned that for the 2nd drill - Noble wanted to drill Scharnhorst due to a very large anomaly it was though, at least to me, IMHO apparent that there was not necessarily agreement from FOGL on this. Could what is happening now be Noble applying pressure of some sort to get what they want as the next drill? or just getting what they want in general.
Closing in on $51. This finally a break out to mid $50's ?, then up. Eegbvi When are these shale drillers going belly up ?
We have a Free Carry through on Drilling Isobel......wish peeps would read RNSs
I believe its a valid question as to whether a placement is in the offing. Have FOGL confirmed there cash position post Humpy? Even if they are getting the $10 mill, they may still want to boost the coffers and get the IIs on board at basement levels...
Ocean Rig apologies
Quantiphi Someone needs to tell Transocean then as they have nothing to do with this project !!
Noble are not letting on just how much oil they had. Isobel is full to spill
No placement as we have a free carry on Isobel plus $10 million payment due to us.