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Probably but interestingly III suggests its riding out a storm but is ready to move soon. Have to see what happens next but looks like P&A is about finished.

If you can't stand the heat get out of the kitchen and if you think you're dealing with dishonest people or crooks go to the police but don't come whinging on here. More to the point why don't you go off and read the last FOGL financials plus the technical presentation and then come back once you have understood it all. You will find that although FOGL will probably need to raise about another $150 mln or so, since it will still have $30-40mln left after the Humpback well plus has a free carry on the next Isobel well there is no rush for about the next 12-18 months or so, by which time the crude oil price should be better plus FOGL will have published its CPRs re NFB and perhaps some detail on SFB. Meanwhile you can do your own homework and give everyone else the benefit of your new found wisdom.

Didn't just my own opinion as an oilco director myself, FWIW. That expensive well will I suspect prove it, albeit FOGL/NBL are not going to say so. It will all be accounted for in the new modeling. You can have your own opinion of course but it certainly looks like that to me. 3D there would be difficult and I recall they almost lost the equipment in the strong swells and currents.

Seems France is to recruit 19k extra armed forces and security people to fight ISIS in Sahel, West Africa, North Africa and Middle East in the process tearing up the EU finance rules. That's the first signal the oil price wanted to start it to move higher. Also re SFB 3D looks to be 100 meters or so out from the Humpy well, doubtless due to the depth plus ocean swells while doing the last seismics.

Moving up strongly in the last hour almost erased earlier losses of today. Geopolitical !!

Thank you. You seem to have an inside track whereas I don't. I'm happy that someone does. The seller seems to be steady with small sales or are there some larger ones not being properly reported. ?? If its one seller only that will eventually dry up I assume.

Being dragged down by small sellers getting impatient with the ER/NBL rig syndrome. Assume at this stage any delay is due to merely some minor mechanical matter plus general rig housekeeping matters pre PMO acceptance and take-over.

About $41/42 Brent and $37/38 WTI

Humpback is a much deeper more difficult well compared to NFB but I haven't been watching the marine traffic. If there's any polluted waste, which I doubt, that would eventually be shipped out for safe disposal. A lot of the movement will be rig mechanical and service crews, even painters, getting ER cleaned up and A1 ready for the handover to PMO presumably quite soon.

ER is still just about within its likely P&A time after allowing for sea swells and weather. But if it all goes beyond say next Wednesday then there should be questions & intrigue.

As per contract NBL the operator has to P&A the well to the satisfaction of FIG. No ifs or buts however long it takes and at NBL's cost. FOGL are probably in for a pre agreed fixed amount of this within the operating contract. The P&A is sole responsibility of the operator in this case NBL.

Simply because it could give FOGL/NBL a much greater insight into all sorts of drilling possibilities, or not. And its cheaper & easier to properly work out Humpback now than drill even one more new well later. They need as much information as they can get in order to remodel SFB likely oil plays.

With a well of that depth it could very easily take say 15 days or so to P&A plus lets say 5 days for weather problems. So anything over 21 days gets interesting. But I really don't know what they could be doing there after that. A small fresh side track would only take a few days extra though to try for some APX liquid. All very mysterious !! But I wouldn't get carried away just yet as it may simply be meticulous logging and coring.

Suspect you misread the NBL statement as it seems to refer to HPX so was accurate. APX didn't have enough information but perhaps they now have that.

Don't agree that the world economy is slumping, stalling a bit maybe but not slumping.

You can forget about Iran as it will take NIOC at least three years to catch up and they're still having great difficulty even agreeing a deal with BP, Total etc to clean up the mess left by the Republican Guard. As to Russia this is really competition for Chinese business between Rosneft and Saudi Aramco, plus Russian gas being supplied to Europe. Any threat to either and Putin has big problems.

If OPEC/Russia cut by 15% each it would all be gone in 6-8 months.

Charts are saying one more low for the oil price before it finally turns positive. If we get $42-43 for Brent I suspect that may be it.

Much of today's problem is December futures contracts expiring today. Probably more January contracts purchased tomorrow. That has exacerbated the price swing. Plus IEA said there is an awful lot of crude in tankers, and to be sold in 2016. Assuming new contracts tomorrow the price should be firmer.

What are you talking about ?? News flow, the BoD has given you that so far as it can and in any event it doesn't owe small investors a weekly commentary no matter how much you may think it does. As to the SP so far the most shares traded is about 2% or so those issued so presumably the other 98% are still held. Rather does suggest its a bit of a false market tied somewhat to the present oil price. Next news likely is P&A successfully completed Isobel spud date and we're doing a full analysis of Humpback for later publication. There now you have it. !! Any real news will be in Jan next year.