George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Anybody have any idea on the cos? Seems they are increasing risk by moving 5km
Yes oil on the ground as per just 3D is $0.5- 0.75 depending on likely accessibility. But where its been drilled and is somewhat more than P20 you're looking at $2-5 per bbl. With both zebedee and Isobel it's P50 even now except we don't quite know the amount likely re Isobel. I suggest Isobel will be 500 mbo or even more as PMO is always somewhat conservative. Also unlike some of the Sealion wells it's unlikely to need any gas or water injection. As a result I suspect Isobel will be developed before sea lion.
Digging in for $60 world ? Funny that because apparently they and other big oil have been buying many African companies where they can and are lifting a barrel for $3 !!
much appreciated
Suggest you go to FOGL website but Jayne is replaced by an Isobel step-out with a full carry of FOGL by PMO/RKH. FOGL will need to raise about $150mln next year after full CPRs of Zebedee and Isobel. They should give FOGL about 275-350 mbo 28api P50 or so.
What's the next move for Fogl? Appraisals? Or drilling Jayne? *big smile on face* Trying to get a feel of all the prospects and what's what, are premier paying for appraisals as part of the farm out or are Fogl going to need to raise some funds? Thanks in advance
Yes, many bankruptcies to follow next. I expect you're looking at a bit of a paper loss which I'm pretty confident will come right provided the average is below 80p.
Already bought oxs gold but thanks for the tip.
BP are about to start talks with NIOC in Tehran quite soon re taking over some of the Iranian oil fields and talking about profit share. I really do wonder if that's the opening shot of their discussions. Maybe I'm being a bit cynical !!
Prudent maybe but no indication of future oil price which no one can predict.
I read yesterday that bp is preparing for a world where price is usd 60 for next few years
Maybe we are about to reach a turning point as last month both Saudi and Iraq output was down slightly while China has announced the doubling of its oil imports for 2016. (Chinese domestic output is down 30% in 2015) US shale oil output should also start to move sharply down over the next 3 months.
If you look at today's shown trades there is a gap developing between larger buys and smaller sells but no upward SP movement just yet. MMs must have a tidy hangover therefore from yesterday. Once that disappears the SP should move (up hopefully)
Criticised others for this in the past/ but he asked the question - might have been better riding out his luck here also as only paper loss at mo!!
Hate to recommend other shares but -Oxus gold all or nothing now if you want to recoup quickly - but could risking losing the lot - but in at 4p hopefully get x3 plus if successful then stick it Churchill mining for medium term!! IMHO
May fluctuate for a week or 2 before climbing back.... Still all to play for.... I'd expect 18p prior to TD at izzy.. Only once details are in will it then reflect true value of say 45p+ Long term i expect FOGL will be wary on any Noble involvement going forward. They have seriously embarrassed TB and the FOGL board.
I don't do SP guesses but given that 43p was reached very easily I suppose 25p-45p is quite possible but if by then Brent is stronger you can be a bit more optimistic
I feel for you I am in the same boat in another oil share surely your wife wont kick you out its not your fault remember in marriage its for richer or poorer.
Interesting post on there intimating its all a whitewash until the Argie election is finally over. Personally I don't buy into it but with oil being politics anything can and does happen. As it is both NBL/FOGL played it down with NBL saying its not commercial without any reasoning for that given but nonetheless they are off to do a full analysis to be included in their area modelling. Very strange re a duster of some sort.
Whats your view on the SP post izzy, assuming the POO remains the same? Very disappointed with the current value, i think we all thought, including yourself that Humpty would be underpinned by the previous 2 discoveries... i didn't expect it to fall so hard. I appreciate without details it is hard to place a value them, just thinking ballpark?
Having been in FOGL for a number of years it never ceases to amaze me how the share price can be influenced by so few transactions. With over 500million shares issued how can the selling and buying of perhaps 16 million shares (just ~3%) in a day drop the price by 35%? Also does this mean 97% of shareholders who apparently didn't react yesterday remain confident the oil finds to date will ultimately come good? If we all now dip in and buy 16 million shares today does this mean we will immediately go back up to 20p? Also if another exploration company guaranteed that from their next three drills the success rate would be 66% what would the share price do? Isn't this what FOGL have actually achieved?
I suspect Flutters is trying to wind us up. Either that or he really does have a wife that's livid just around the corner threatening to cut him off from all sorts of things.
Hold on fella,you just don't knoiw what's around the corner
Sounds a bit drastic. You presumably sold yesterday then.
You're forgetting the Brent price. If by Jan its moving up think you can forget 20p