Member Info for Tuggy

Interesting read,should enable Noble to activate operations in the Falklands, meanwhile will try and spread the cost with another American Oil major to share the costs and more importantly implement immediate production on Rhea success. All exciting sceneio , something the market will slowly cotton on to , and hence see the shares go in one direction.

Seeing the Market Cap of Borders of 21 million and the current 11 million for Argos I know which share I would buy, Any Farm in would cost Borders huge dilution to raise funds, compared to the fact Argos shares will nota be diluted in any shape or form as Noble are fronting all drilling costs and more importantly production costs, even Rockhopper musta be jealous of that situation.

Some months ago Noble agreed to continue its commitment to Argos, when mothballing four other potential prospects, Susan Cunningham is convinced of Rhea potential has shelving any further drilling in the SFB and buying into PL100" and total control . They are committed to drill under terms they signed with the Falklands Govt , POO at 55 and steady , watch this share this year.

POO sitting around 55 dollars and possibly more in the spring will certainly activate Noble into finally funding a rig campaign which they own 100 per cent unlike the likes of PMO and RKH. Argos share price will spiral on the news and will be devoid of any dilution due to raising funds. They have a free carry and then earn huge royalty payments once production begins. Meanwhile the share price will reflect all this eventual reality.

Absolutely Winger 1 and agree with your sentiments entirely, once PMO have finalised their banking covenants they will probably sanction a dual rig with Noble and RHK to appraise Isobel and drill Chatham and Rhea and the three other prospects on Argos ,s territory or Noble will go it alone with another American junior partner to share the costs.

Not forgetting in the the last ten days the MMs have raised the value of this share by twenty per cent !!!!!

Now they might spend more time on mobilising a rig on their Falklands asset, and I agree we are lucky to not have PMO as our partner.

Three years up from May this year to 2019 with an extension of further ten years if oil is found . As mentioned on earlier posts Noble cut back on four other potential prospects around the world in November and sacked 200 in the process but remained firmly committed to the Argos acreage since then of course POO has recovered and more stable.

In answer to your question , Noble committed to sign up to PL001 with the FI Govt in May and reduced their yearly fee to 400000 dollars to Argos , and are committed to drill within that three year timeframe, however POO was around 30 dollars at that time , therefore any drilling in the near future was not going to happen , but my sources assured me that in the event POO remains between 55 and 60 dollars for a period of at least four to six months , Noble would sanction a drilling campaign by the end of the year, so drilling effectively early 2018. It might come sooner if they share a platform with PMO and RHK but that is another sceneio entirely.

Yes three years to production but the 50 p will be achieved possibly in eighteen months time when Rhea prospect is drilled, having said that the share price will go up significantly on the news of a drill by Noble and the subsequent expectations of a Sea Lion lookalike. No dilution is the key to all existing and new shareholders.

57.03 dollars reached midday today

Also as I mentioned over a month ago Noble board sanctioned the continued Falklands campaign whilst abandoning four other current prospects plus 200 redundancies, that action reiterates Noble strong commitment and begs the question have they found another American partner to spread the risk , if true that will expedite Rhea and the three other prospects being drilled and as Falklandinvestor mentioned Chatham an adjoining prospect with RHK and of course Johnson which RHK have acknowledged is one third owned by Argos .2017 is going to be exciting for sure.

I agree with that sentiment and whilst we will not be producing until 2020 the prelude to Noble sanctioning a rig will in itself fire up the share price and of course the run up to finding the oil. The share price should be at least 50 p at that stage , how much it will be on successful drill will change the dynamic completely and will enforce a lucrative buy out rather than a costly royalty payment over the next twenty years. Poo now over 56 dollars we are nearing the magic 60 sooner than we thought. One thing is sure we know it potentially bigger than Sea Lion and we have the partners with the resources to go,into production . Roll on 2017 .

I totally agree but Noble will want a constant price and if it goes over 55 for a good length of time then this share is going to rocket

Luckyman your on the wrong BB mate we are owned by the Americans not PMO , as explained the FI will be produced by USA not the tin pot PMO and RKH who chose the wrong partner all those years ago .Cairn would be producing by now.Argos will go,up as soon as POO turns round and Noble mobilise drilling . Then this share will fly.

I truly believe this time next year this share will be considerably higher than today, talk of drilling prospects will stir things up whilst the long term benefit is the 5 ./. ORRI , the years preceding that end goal will be Noble mobilising a series of announcements which will propel the share price even if PMO show no sign of farming out their Sea Lion franchise .

Noble announced job cuts in Houston but also reinterated their commitment to their Falkland campaign whilst other projects were either mothballed or kicked into the long grass forever, this shows that even during a period in the oil industry not seen for twenty years,,Noble see the Argos and FI oil as a long term play. They will be monitoring the PMO and RKH situation with interest as will potential US companies akin to Noble.

Noble have signed a three year licence extension with a ten year option and a payment of £300000 yearly to Argos to cover expenses prior to future exploration. They are going to be sorting out their accounts re the Humpback exploration programme, their future in SFB I would agree might be muted but they will not be giving up on those licences for nothing.

Thank you Falkland Investor for informed report and agree that the reality is that it will be certainly nine months before Noble and Edison launch another assault on NFB drilling Rhea and the other four prospects, so are only interested in PMO and RKH in supporting their quest for production of Sea Lion. I have always supported the theory that the Yanks will be the frontier company in the years ahead, hence Argos holders stay firm , and if the POO moves towards 60 then the shares will follow suit.

Huge volume of shares bought and sold but up over a third, something might be happening down there