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Isetown is reply to your post , I think that now the contract has completed Argos will be in a position to release an idea of the returns from the ORRI agreement, I think announcing that sort of information before the transfer of funds and finally securing all the statutory agreements would have been a little premature . Time is right for the BOd to now tell shareholders exactly the perceived ORRI works per share and what we can realistically expect in dividends in the future.

Yes absolutely, that is why we have the advantage over PMO who are suffering from the current Oil price with their North Sea wells, the price of Oil in 2019 will hopefully higher than today's .

Exactly as is stated in the past announcements but some feel we need to told how exactly that is distributed to Shareholders , now they have completed the agreement with Noble and the Falklands Govt then I think we will get some clarity as to how much they envisage the percentage is worth subject to the current price of oil. Remember they will not get production going until 2019, but we will will enjoy the prospect of hugely inflated share price and 20 year pension pot. Or as I mentioned earlier the prospect of being bought out completely. Either way is great, shortly when they spud and the general market simmers down the IIs will realise all this .

One thing I forgot to remind everyone is that back in the 1990s they had discovered four oil shows and a Gas find in Johnson so to say the Rhea is a one trick pony I think Noble know it is not and would not have gone down this route just for one drill. Remember back in the 1990s they acknowledged without the new siesmic they were always drilling at the wrong depth. But still managed oil shows, and incidentally own a third of Johnson gas find with RKH .who is the expert in Gas , Edison.

I is great they have cemented the deal on the 15 Sept by receiving the £2.75 million payment which probably pays for the huge bills incurred whilst doing the deal with Noble and Edison. Whilst I am pleased with royalty deal struck and the fact that subject to Oil being around the 50 mark , the share price will in effect gain hugely on a good result, I cannot help feeling that this time next year after another appraisal well the Two companies might think , rather than payout Argos shareholders 20 years of royalty , why not pay them off !!!! Either way now we know Rhea is definitely going to be drilled many on this board and others always disputed that fact, we are going to have a very exciting time.

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Nice to see oil price finally recover near the magic 50 mark, once Humpy is announced I think everyone share price will move hopefully upwards, the Times and Telegragh all hold the belief that the Falklands is still a huge gamble , so was the North Sea , these journalists have no balls or proper knowledge of course , but they like to influence . The dreaded Forstonrgy has been remarkably queit, he seems to be the only oil and energy journalists the Sunday Times employs .sad times for the newspaper industry really .

I see the future prime minister has been endorsed by that woman in Argentina as a friend of her country and one who is willing to start renegotiations on the Falklands . That says only one thing in my book , how freaky the world has become and how we all should make sure in the future this scenario never happens !!!!

Humpback news should be out within the next week Noble keeping everything very close to their chests!!!!

If you were there at the conference and the CEo said that then fine, my only comment was that Humpback and Rhea were mentioned as part of a huge collective potential . Chatham maybe before Rhea which is fine as it is connected to are own prospect Tcyche and RKH have acknowledged that as fact.

The text from the announcement is word for word, so yes if that is what they mean too right it is exciting for both camps Fogk and Argos

Noble have just announced at the Barclays CEO energy conference . Significant exploration prospects, testing material opportunies in Frontier areas, Humpback in South Basin, Rhea 1 in North Basin , Multi billion barrel follow on potential. No mention of Isobel , so it is fairly clear Rhea is next up and they are Very excited with the prospect .

The price of Oil is at present 49.40 having fluctuated below 48 this morning, as long it remains above 50 then we should see a slow recovery as winter approaches , by that time both Humpback and Rhea prospects should have their results. Noble will not immediately expedite production without drilling an appraisal well , but they will also deliver another rig to resume drilling the other 52 prospects which will add to the realisation that having 100 per cent of the licence they stand to make a lot of money and I agree with Isetown that the other companies will have to follow suit if they want get their money out , namely agree a Royalty percentage , but at very por terms compared to Argos. I know what shares I would wish to hold at the moment especially at this price . Imagine if Noble find oil and rather than pay the ORRI for the lifetime of the field , probably 20 years , they decide to offer Argos shareholders a price to take us out completely, something which must be on the cards !!!!

I believe that the 5 per cent royalty will be some form of dividend so the FIG tax would not apply, also the FIG are not expecting huge payments of tax during this period of exploration , more concerned that someone takes it into the next stage , production, which PMO have failed dismally to deliver, and with a Market Cap of less than half a billion they have no chance of even entering into any production agreement and they themselves look very vulnerable to a takeover themselves , Rock hopper picked the wrong guys to do business with and now everybody is suffering the conciquenes , but hold on there is the knight in shining armour in the quiese of Noble to take everybody out and as I have always said will be first to production. Those on bulletin boards on Borders , RKH and Folg seem strangely oblivious of that scenario .

I have now seen the announcement for myself via the Falklands Govt website, September 1 is the date, but we know ER is running a month late. Things will heat up shortly for the news of Humpback and are own spud date for Rhea , they think our drill will take around 38 days.

Thank you for the information Isetown, appreciated.

In fact Noble energy Falklands ltd is the recognised company used by Noble to enter into the Farmout with Argos and Edison, but still cannot find said well consent announcement

I must admit I cannot find Secretblueprint s announcement , noble energy Falklands ltd, is a british based company, and I cannot find any such announcement on any website, so I would be kind for that source to be shared amongst us all.Having said that the timing is not far away from why own date of Spud date, early November but thought that Chatham would be drilled straight after Humpback and then on to Rhea. Oil price seems to be holding steady around 50 mark.

What brilliant news , maybe the reason for the share uplift, means we are ahead of schedule and more importantly explains Noble high desire to drill Rhea as soon as possible, plus they seem to be bossing the likes of Premier and Rockhopper about schedules and the like. I always said Noble will be first to production!!!!

Due to the Humpback drill overrun rhea will probably not spudded much before early November after the Chatham drill which incidentally has been acknowledged by Rockhopper as attached to Argos own potential well called Tyche.