Member Info for Iano

Oil Discovery at 14/20-2 exploration well on the Isobel/Elaine Fan Complex Highlights · Oil discovery confirmed at Isobel Deep · Significant oil column of over 480 metres · Net oil pay 27m · No oil-water contacts or gas encountered · Four additional oil bearing F3 reservoirs Falkland Oil and Gas Limited (AIM:FOGL), the oil and gas exploration company focused on its extensive licence areas to the North, South and East of the Falklands Islands, is pleased to announce the successful results of the 14/20-2 exploration well on the Isobel/Elaine structure (The "Well"). This was a re-drill of the Isobel-1 (14/20-1) well, which discovered oil in the Isobel Deep reservoir but had to be prematurely abandoned for operational reasons. The Well is located on licence PL004a in which FOGL has a 40% working interest. This will increase to 64% following the merger with Rockhopper Exploration, which is expected to complete on the 18 January 2016. The Well successfully re-drilled the Isobel Deep reservoir at a location 4 kilometres west of the original Isobel-1 well and reached a total depth of 3014 metres. Although the Well was principally designed to re-drill the Isobel Deep sands, it was also able to test other sand bodies within the F3 sand system. The well successfully penetrated five separate fans within the complex, including: Isobel Deep, Isobel, Elaine South, Emily and Irene. All five of these fan systems were oil bearing and no gas was encountered. The well did not encounter an oil-water contact in any of the sands. The well discovered total net pay of 27m in the Isobel Deep, Isobel and Emily reservoirs. A very large oil column (in excess of 480 metres) has now been proven between from the crest of the structure to the current location. The location selected for the re-drill of Isobel Deep was not optimal for any of the other fans. As such, most of the fans were penetrated at their margins and FOGL expects that based on analogous systems, better quality reservoir will be present in the main bodies of the fans. Whilst the data acquired is still to be fully evaluated and integrated, the initial view of the Company is that the Isobel/Elaine complex is likely to contain commercially viable quantities of recoverable oil. The 14/20-2 well will now be plugged and abandoned.

LONDON (Alliance News) - Greka Drilling Ltd noted the sharp fall in its share price on Tuesday but said it is not aware of any reason for the movement. Greka shares were trading down 27% on Tuesday afternoon at 4.00 pence per share. Greka, which specialises in drilling unconventional gas prospects in China, said it will publish a full operations update in February. In the first six months of 2015, the company reported a pretax loss of USD626,000 compared to USD787,000 loss a year earlier despite revenue remaining broadly flat at USD2.7 million. Chairman Randeep Grewal said he was "quite pleased" with the results and was confident on the expansion of the company's client base. London-listed Green Dragon Gas Ltd uses LiFaBriC wells, which are wells drilled using a technique developed by Greka Drilling that has adapted the horizontal drilling methods traditionally used for drilling in coal seam reservoirs and is designed to provide a precise and high-quality completions' technique. It was designed specifically for Chinese geology.

On 30 November 2015, the Company announced that it had entered into an agreement to reschedule $57.1m of debt owing to Korea Zinc (the "KZ Agreement"). The terms of such agreement were set out in the announcement and included a condition set by Korea Zinc that the Company raise at least $5m (net of expenses) before 31 December 2015. Following intensive efforts over recent weeks to raise at least $5m before the end of the year, the Company announces that it has not been able to secure sufficient investors to fund this amount. Accordingly, under the terms of the KZ Agreement, the Company is obligated to transfer 90 per cent. of its interest in its wholly owned Korean subsidiary, ZincOx Korea Limited ("KRP" or "ZincOx Korea"), owner of the Korean recycling plant, to Korea Zinc, or, upon Korea Zinc's request, have KRP cancel all, or part, of the existing issued share capital of KRP, and issue and allot to Korea Zinc new shares in KRP through conversion of the outstanding loans into equity such that Korea Zinc owns 90 per cent. of KRP in each case for nil consideration (the "Disposal"). The Company will continue to retain a 10 per cent. interest in KRP. As announced on 30 November 2015, since the Disposal would constitute a "fundamental change of business" for the purposes of Rule 15 of the AIM Rules, in the event of an unsuccessful fundraising the Company sought, and was granted, approval by Shareholders for the Disposal at a General Meeting of the Company on 18 December 2015. The Disposal will now be formally effected during the course of January 2016. There will be no cash or other consideration receivable by the Company in respect of this Disposal. It has been agreed with Korea Zinc that ZincOx Korea's share structure will be reorganized so that 90 per cent. of the shares will be valued at the amount of the loans, which currently stand at US$57.1 million giving an imputed value for these purposes of US$63.4 million to ZincOx Korea. ZincOx Korea will, subject to the loans raised during the transition period as set out below, be debt free. The transfer is expected to take at least a month to complete and during this transition period ZincOx will continue to assist the operation, as required, on a day to day basis so as to enable a smooth transition into management by Korea Zinc. The KRP plant is currently closed to carry out a repair to the evaporative cooler and production is expected to resume on the 7th January. During the transition period, outstanding invoices owed by KRP for 2015, current remediation costs and operating losses are expected to amount to about US$3.4 million and this will be covered by Korea Zinc and be treated as a loan to KRP. There will be no recourse to the Company for this loan. In view of the current and negative short term outlook for the price of zinc, KRP may continue to suffer losses in the near term. If Korea Zin

rise is coming

under valued at 15million and sitting at 3.1 million now.

50,000 tonnes lower energy cost.

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What a shake that was, gave people chance to top up. Hope your filling your santa stockings up ;-)

2.10 just hit

1.38 to buy

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Google finance has krs listed at 0.47

The future is bright "Gold" Didn't you pick the ticker code name Oil.........?

http://www.proactiveinvestors.co.uk/companies/market_reports/120262/precious-metals-rise-on-dollar-weakness-120262.html

Think there will be more bigger buys coming in. Good time for getting in at this price. Gla

TR-1: Notification of Major Interest in Shares

Nice little top up bj. It all helps to bring your average down. Sounds like you was first in around same time as me. Ive been doing small top ups to get lower myself.

Yes Looks like its starting off quickly, Great work, :-)

Ferrex plc, the AIM quoted resource development company, is delighted to announce that following the acquisition of a five year tribute agreement, to mine certain defined gold deposits located on the leases owned by Norton Gold Fields Ltd a subsidiary of Zijin Mining Group Co., Ltd ('Norton') to mine in the heart of the Western Australian goldfields, initial fieldwork has commenced. This is in line with its goal to commence initial gold production of 20,000 to 30,000 ounces per annum in Q2 2016. A detailed land survey is currently being undertaken to assess the existing drill holes and previous mining operations, which have historical resources of 5,741,155t at 2 g/t of gold for 363,599 ounces. The survey will be used to finalise an initial, high priority, in-pit grade control drill programme before the end of December 2015. As part of Ferrex's mining development plan it will initially target shallow laterite and oxide deposits to generate near-term revenues. The deposits comprise previously mined pits with remnant economic material below the pit floor, previously unmined near-surface deposits and other high-grade underground opportunities. Ferrex Managing Director Mr. Dave Reeves said, "With limited work and capital required to commence gold production in Australia, we have hit the ground running in line with our target of delivering first production in Q2 2016. A small-scale drill programme is set to start ahead of the New Year to formally confirm the grades identified as part of the historic resource of over 350,000 ounces of gold. This will provide plenty of newsflow in Q1 2016, and we look forward to updating the market with this in the near term."

Up 26% lovely.