Member Info for eegbvi

I couldn't possibly comment !!

You must have been reading iii I suspect as one idiot on there was talking about 0p for FOGL. To get to that point any company would have to have no assets or liabilities which is virtually impossible. If its bankrupt the share price would be something quite notional pending being struck off, but not 0p so people should think things through prior to spouting such nonsense. FOGL could be in that position if oil is ever worthless but that would mean almost free petrol etc also and that is very unlikely I suspect.

Lay off my girls. !!

See my post of 16.48. All there, OPEC and Saudis putting pressure on US shale oil and their US banks by saying the glut will take time to go away. All political !! So far 18 US shale oil cos have gone bankrupt and almost 100 drillers. Interesting thing though is that the forward contango has disappeared so that means the oil market is slowly turning bullish despite today's fall. Barclays also is now forecasting $70 by Q2 2016. If that does happen a lot of oil cos such as PMO & TLW should jump 500% to 600% and if Isobel comes in no reason why FOGL shouldn't based on the Jan 2016 SP after Isobel etc information. But we need good CPR info first and should get that in Jan with luck.

Under pressure from an OPEC report 20 mins ago suggesting the oil glut will take longer to clear. Suggests Saudi manipulation again telling US shale and Russia that the squeeze will carry on until non OPEC oil output finally drops. That report is aimed at the US oil lending banks I suspect, to keep the pressure up at shale bankruptcy time.

I agree with much of the Telegraph article. Obuma is just now coming to the Saudis aid re ISIS as Turkey a couple of days ago allowed US and NATO to use Turkish bases for drone strikes against ISIS. The reason was that a few weeks ago ISIS targeted a Turkish border town and killed 30 odd people there. Up until then Turkey was very tolerant of ISIS.

We will have to disagree then but I do hope you're correct re 8p as then a lot of us can buy in very cheaply. As it is US oil storage is still increasing due to ongoing refinery maintenance and meanwhile the oil traders are panicking but still the short contracts are down dramatically in New York so this particular oil price drop may be short lived, having been engineered by panic re the API US storage numbers. If refineries are under annual maintenance it had to go somewhere and storage is the obvious candidate.

Cash position was clarified on here a few days ago by a an email to a person who posted. There is apparently no cash problem and there is no rights issue being contemplated which coincides with other views on here of US$30 mln-$40 mln left after this drilling campaign. FOGL will need more cash probably mid 2016 or so. But you must do your own calculations.

Looks like some PIs are panicking over the time ER is sitting over Humpy, presumably worrying over the extra costs to FOGL. If its an operator screw-up NBL pays. If its an ER problem the rig owner pays and as to any extended sample analysis time NBL is apparently picking up the tab anyway. Ask Quindell as he should know.

Exactly what are you trying to say. ?? If its important that's ok but if its some irrelevant trivia then please don't waste people's time.

Its a pointless exercise re sealion at present as the whole situation is subject to further negotiations after Isobel. For example FOGL probably will not want any part of some of the sealion areas where wells need gas or water injection to create lift. Again, RKH may want to trade that against other bits of Isobel which doubtless FOGL will reject. But as a rule of thumb for now its reasonable to use 120-125 mln bbls due to FOGL re both sealion and Zebedee. There is little doubt in my mind that Isobel will be somewhat better than Sealion so then its simply a matter of FOGL sorting out its cash position after its all been published and audited, say another eight months time and allowing for a stronger Brent price. As to all the NBL takeover thoughts on here, that's very unlikely I think since NBL has its new ARG toy to play with plus its got US shale oil problems, Israel and Cyprus projects also and these will all be expensive and possibly messy. More likely NBL will itself be the target, particularly if SFB looks interesting.

I suspect the NBL recent announcement was strictly factual re only the HPX not APX as at the time neither NBL or FOGL knew what they had (or hadn't) in APX. Hence the extra time spent now to get as much information as possible while ER is still there. Let us hope NBL has recovered some liquid for a full analysis plus detailed well logs and cores. If I am correct both NBL & FOGL will be very easily able to make a further announcement re APX without any embarrassment at all, nothing like the oil/water fiasco but simply more accurate information re APX.

Short answer is 'Yes'. Don't quite know what ER etc has been doing all this time but it most certainly isn't a straightforward P&A.

Yes

Seem to be talking about HPX being non commercial, not APX so reading between the lines (very dangerous for me with having given my word to AP) I suspect they may be trying to get much more APX info but a fluid sample may still not happen. If it doesn't it means they know what's there but can't prove it for any Exchange statement.

OK then 'done deal' I'll have a good long holiday from here. Just great. !! Thanks.

I was in Kabul last year and I can tell you why very simple the US is no longer in a combat role anywhere near any poppy growing areas. It will take years to wipe that out as an opium farmer makes much more money & stopping it isn't an Afghan Government priority whereas survival is. If you're going to seriously find out what's going on you need to get your boots dirty. If the Pakistan money supply was interrupted that would make a big difference but its cash not through banks so very difficult to stop.

Side track if there is one (50/50 at best) its just routine operations so no RNS needed.

Didn't know I had friends on 88 but if I get time in the next day or so will have a look at what's going on there. Thanks anyway.

If you look very hard think you will see a large 'For Sale' notice on ER and you can't move the goods while in the middle of an auction.