Member Info for Tuggy

POO now 46.39 closing on magic 50 figure, PMO share price maintaining last weeks momentum . The new extension licence announcement should rejuvenate Argos share price .

45.09 and PMO up nearly 20 per cent !!!!!

POO now 43.74 , and steadily rising. I agree Winger, the Argos deal will seem a very good deal and has been reiterated when the latest deal was negotiated , the only change was the annual income was diminished by 50 per cent. Currently the share price languishes at a Market Cap the same as BOR, due totally to reports of Noble not wanting to renew the licence in November. Noble have every intention of renewing , why they hell would they not . 100 per cent control of a potential bigger than SeaLion and possibly Isobel .

The POO has not gone into meltdown after this weekends meeting, so there is hope that it will remain steady whilst Noble and Argos sign the next licence agreement and meanwhile hire a new rig to drill at least three wells . Due to the added exposure and added cost of the drill Noble will probably want to farm out around thirty per cent to another American company , having already secured Edison for twenty five percent. The POO will have to be over 50 dollars to make the investment attractive, hopefully that will be around that figure later in the year, meanwhile a signed commitment on the Licence should up our share price on that news alone.

The long awaited licence extension with the FIG is hopefully nearing finality , but all government business takes a little longer than expected, but is seen as a formality with Noble in the meantime possibly looking to get another American partner to shoulder some of the costs with themselves and there existing twenty five percentage partners to not only drill a minimum of three wells and then be in a position to go into production on a successful drill. This of course will take time , but the potential for Argos shareholders is mouthwatering come 2020 and the uplift of the share price on all the good news. Lets hope POO holds up for everyone sakes.

These shares are a steal,at these prices, But I agree we need confirmation of the signing of the licence extension, although a formality MM and investors are nervous that Noble might want to pull out , rather than extend in November. Argos and Noble agreed very quickly after the ER debacle that a new agreement was in place to one extend the licence , two restructure the yearly payments to Argos to reflect the huge costs Noble had incurred before the intended drill of Rhea, so in effect taking some of the hit of these costs themselves and showing Noble they were willing to charge Noble enough money to cover there costs during the following years negotiating the licence extension and securing a rig and then go through the tedious period of making sure it passes all the Hand S measures. This was preciously the concern PMO and Noble had when they reluctantly announced a Force Majiere. Once the licence is signed which should be not too far away, the city will realise the true intent of drilling this licence and will respond favourably when a Multi drill is announced as opposed to the solitary drill of Rhea . This needs patience ,and in the end might prove a blessing in disguise with the POO slowly recovering .

The MM tried to influence the share price of all the Falkland oilies before the market opened and allowed some very cheap shares being picked up on the strength of the Financial RNS this morning who announced nothing we don't know about already. It is all going to plan, licence extension and securing a rig , currently being sorted.

In reply to what Secretblueprint said on the Rockhopper board , not here is correct in the sense that Noble will not be drilling until they have secured the extension to the licence which will expire in November. Having said that he suggests that will not happen and there is a slim chance of Noble drilling at all. Apart from the fact he is totally incorrect , Noble will not be giving up on a licence they own 100 per cent with huge prospects in the same category as Sea Lion and Isobel in Argos Rhea stack. If he had his doubts why not divulge this alarming news on this BB rather than another companies. The Licence in my opinion will signed within the next six weeks and a planned drill will drilled early next year, as securing the rig is one thing , implementing all the safety issues are a long and laborious timeframe. Everybody is entitled their opinion but if you have something to say say it on the this BB. Of course POO is crucial in all future drilling and production , so far we are slowly getting out of the woods.

Noble will probably seek a rig within the next few months after securing the extension of the licence and embark on a programme that allows them to drill within the next nine months , they will not be granted an extension if they delay to 2018 and also have no wish to get into bed with PMO. They always wanted total 100 per cent control and they have that and now POO is recovering they will hedge their bets that on the success of the Argos licence they can start producing in 2020 . I have always said Noble will be the first to produce , whether or not they later take over parts of RHK and PMO is another matter.

Noble would not be going to all the trouble of extending the licence , if they were not convinced that the prospects were not worthy of drilling. Hence Wordog is right , rhea will not be the only drill as it would be financially stupid to drill one well , so the ER fiasco has effectively done us a huge favour, plus the POO is slowly ticking up, to make production a reality rather than a hope . When the agreement with FIG and a rig is announced this share is not going to be worth 4 pence !!!

Oil up to 40.72 at 5.30 pm

Good to hear you old friend, keep up the spirits, we are not long now before a breakthrough .

Only buy the shares if you believe in the company and its past performance. So far against the odds the company is still afloat having floated at 31 p in 2010, going to the high of 65p then the series of non performance of PMO slowlymelted the FI dream, and then the POO . They are the only ones who have secured a company and an America not scared of Argentina crap , namely Noble to not only pay for all the exploration but also if successfull, produce oil . I fondly Rockhopper had got into bed with them we might not be in the situation we are presently in . Noble are going to be in charge of the whole Falklands if Rhea and other prospects are successful , so in answer to your question Argos share will not be diluted , so buy . But do your on research , but this is not a ramp,but a friendly answer to your predicament. Ver y best anyway.

Absolutely not , RKH have made at least three attempts to gain control of Argos, but was rebuffed each time because the BOD knew they had to do a deal with a major oil company with experience in drilling and more importantly the financial clout to produce the oil once found . This of course is the dilemma RKH are now experiencing with going into a partnership with PMO, someone who said they could deliver but as we all know has little or no chance unless they farm in to yet another company, what a shame they spurned the advances of Cairn Energy all those years ago. Falklandinvestor is right about the outcome of this company and when the POO slowly recovers we shall see this share go only one way.

It would be fairly pointless to spend so much money on just one drill namely Rhea, so I suggest the likely scenario is two more wells Helios and Kratos and then an agreement with PMO on finishing Chatham and further appraisal of Isobel field. Success by Noble on any of those three drills will activate a production plan by Noble and who ever lands up farming into PMo and RHk to produce SL and Isobel. Noble are now firmly committed to drill and all the agreements ie 5 per cent royalty in place, the only small change is the annual £800000 has been cut to £300000. The Argos board of Directors do not pay themselves huge salaries unlike a few I could mention.

I quite agree , it is clear as day that Noble are champing at the bit after the awful disappointment of delaying Rhea. This share will rocket once the extension is signed and sealed and also announcement of a new and the only drilling in the NFB.

I agree if they announce acquiring a Rig and with it a whole new campaign you are talking a market cap of £100 m , what was driving the price downwards last time was that Rhea was **** or bust .

Remember argos £2.75 million in September so this share price is typical of MM overeact to a relatively cost cutting exercise benefiting our partners Noble. Many doubted their commitment after ER announcement , this. Whole exercise firmly dislelled this doubt. Personally I think we will drill about ten months from now as they want to get the tailend of the Falklands summer to drill Rhea. I agree with other posters they will not stop at one drill now , so effectively this delay has been a blessing and the share price down to rock bottom. Remember no dilution.

This just proves what I said some days ago , Noble are more than keen to drill , more than one well and also to reflect the ER debukule Argos have reduced their yearly payment. The company has good reserves and it would seem churlish to carry on demanding the original amount as Noble lost a lot of money planning the ER drill campaign. This share will rocket shortly and at these prices they are a steal.

Noble were mortified that Rhea had to be cancelled having spent an awful lot of time and money evaluating the forthcoming drill. They are at this present moment organising a meeting down in the Falklands with the Govt to extend the licence period for at least a further two years. That commitment signifies that far from wishing to eradicate themselves from any further drilling in the PL001 area they wish to extend the time span of the project, quite apart from the fact they could have quite legally waited for the licence period to expire in November and walked away . That is not the case and in actual fact the ER disaster might just be a blessing with regards timing and the fact they will not only drill Rhea but also two other prospects probably Helios and Kratos while they are in the vicinity . Getting another rig will take at least nine months ,but as I have said before Noble always go into production if they find sufficient oil. Rhea potentially contains as much or more than Sea Lion. And they own 100 per cent and will pay all the costs , meanwhile Argos I dare say will not demand all their income under the circumstances but enough to keep everything afloat and remain firm and understanding partners with Noble who have reitarated their excitement of the seismic data on the licence. It must be a buy at these prices even if we have to wait a little longer.