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And still hanging around, more time as been spent on this duster/non commercial than any strike we've had....
I have checked this and no there won't be any placement as its not needed. Transocean and insurance are covering a significant portion of the overrun due to mechanical failures on the rig
The sp will drift back up before long so dont worry folks this happens all the time with aim shares.what i would say is everyone should take a long hard look at any company before they invest in aim shares because too many people jump in with out doing any research and they are a lot of aim companys that are upto their eyeballs in debt and will swallow your hard earned quicker then you can imagine.fogl too me is a fairly well run company that has just started their drilling campaign in the middle of one of the worst oil slumps ever, its just bad timing and the share price is reflecting that at the mo.just put these shares in the bottom draw and wait too xmas for some good news hopefully
With massive overspend on humpy do you think we will get a placement rns before drilling isobel again Hope not....send the sp down to 6-8p range
Hope you are right sir! Trying not to look much at the moment until we are back at Isobel...Just ruins my otherwise good mood haha
Pmsl......I now don't know wtf she's doing.......seems to be moving around a bit....unless they are plugging borehole now.
Are you the pilot lol!!!
ER on the move NWly to Isobel, here comes the good days back...........wait for this to show its a real gusher.......remember peeps what I've told by a very good contact.
You could always buy oxs which is simple as you either win or lose all every penny.
Chugging along 1.5 knots
Need some news now I think to push this back up
Up another 4%!
I wonder if the dust as settled at humpback or do they think its oil......
Sorry but you're aiming at the wrong target. The BoD had very little if any say at all in either Humpback or Isobel/Zebedee as the operators there were NBL and PMO. In such JVs the operator holds virtually all the cards and FOGL would have to dance to their tune. Or would you rather have had FOGL spend $200 mln on Humpback. ?? Choice is yours !! But from your posts its fairly clear you know very little re drilling for oil risks. If you want to go to the races stick with the bookies !! The FOGL BoD did an excellent shareholder deal re DES and but for politics ruining the oil price at present the FOGL SP would probably have been in for a re-rating at a much higher price. As it is the market at present thinks cash is king of any other assets. But this will change probably sooner than you think.
Careful investor @1035. Have to disagree with you about the lack of forward strategy, short term we are off to drill the Isobel step out. Medium to long term will very much depend on Issy result and how PMO/RKH and NBL get on with Chatham and Rhea respectively. Positive results could lead on to a potential farm out on Helen and Susan. Or if the CPR's look good Q1 2016 we may start attracting other outside interest. Yes the SP is disappointing at present, but as Luckyman2 pointed out anyone selling now is likely to be selling at a loss or break even if they managed to sell on the spikes and reinvest profits on the dips. Once Issy gets under way we should start to see a meaningful rise.
Stronger today @$49.24 but this is being held back now by Russian over production (Putin's Syrian adventure probably) plus some of the Gulf producers have delayed field maintenance until Q2 2016 to keep the pressure on US shale oil. A lot of bankruptcies there by the year end. At least now there is some light at the tunnel end !! NFB production cost should be about $35- $40 so PMO will look for $50 for a profit margin for 26api crude. With the new subsea production units production costs could drop by about $3-$5 per bbl.
Of course you can trade with these, if you get on and get off the right tome job done !! What a load of gobbledegook that statement is
I wish you guys that try to trade shares like these on AIM will wake up and realise that equity investment is long term...this is not CFD trading. Step off and leave this alone...the original reasons for buying are sound but hey ho there is a major global slow down so did you really expect oil & gas shares to go up!
Put out of our misery ending = bad
Jaffas Dont worry its just "fair value"
when you say "think that is all coming to an end soon". Do you feel a happy ending or bad ending? cheers
I wouldn't sell into this. Commercial or not in the present climate, Humpback never can be a disaster. That's because there is Isobel and Zebedee and the increasing reserves in the NFB. We are going to come out of this drilling campaign with substantially more proven reserves, and more assets (regardless of cash in bank), than we went in with together with the certainty that there is oil in addition to gas in the SFB and a better chance of finding that oil in future. Of course, if you have assets you can raise cash against them. Humpback doesn't worry me, I am more concerned about RKH and PMO getting a move on with development of Sea Lion and the commerciality of the NFB. The share price here could shoot back up very suddenly. FOGL takeover is a distinct possibility for one of the oil majors to buy into NFB depending on the outcome of the further drilling. I also think that the current oil price has not priced in the risks in the Middle East. Oil infrastructure is very vulnerable to terrorist attack. But at some point the Saudis will have to turn down the tap anyway because even they cant cope with oil below $100 for a sustained period. I also don't buy any nonsense about oil prices never recovering, they always have in the past and if the current trend for cutting investment bears out, the price will end up higher after this rout than it was before.
One thing for sure is that all the sells now have lost money. Got to settle some time soon.
very badly here. Much further and I will be losing as much on FOGL as I am on BOR, which is quite something. We are down over 10% again today and utter silence from the BOD. No guidance, no forward strategy, what a joke. The current MCap is £57m. The FI is utterly dead and a graveyard of billions of £ of investors money on dry and non-commercial wells, and very well remunerated BODs in the meantime. Think that is all coming to an end soon.
There needs to be sone info coming out to steady this rapid decline