Member Info for Tuggy

I told you they were speaking to the II s they are not interested in Private investors as such at this stage would you!!!!

38 per cent for Rhea, and because it is in a stck formation which covers at least four levels in one drill, the next biggest within Rhea is Poseidin which has four plays averaging 30 per cent.

At least Argos have the firm commitment from Noble that once the oil is found they will get out of the ground, this fact has obviously fallen on deaf ears, as unlike the other companies have no such commitment from PMO. Secondly someone asked me last night how each shareholder would be paid this 5per cent royalty, the answer plain and simple Dividends every year. This is not a long term play, we are drilling in less than five months, the share price is not going to remain at this level for long, and if Rhea is successful, everyone in the city of London will endeavour to buy the shares purely on the basis of the huge income it will produce.

I hope that my messages over the last two weeks have not been considered ramping. I decided to air my views purely because the market did not and still does not understand the Deal Argos have done with Noble and Edison. Personally I would like the share to rise to about 15 to 20 pence which is a fair assessment of the value at present, but the reality is the Falklands Market is still perceived at high risk, so the Market Makers are still not prepared to give any company true value, look at Rockhopper with huge find awaiting to be exploited , but due many considerations ,many of which I have posted earlier, we are no nearer getting the go ahead from Premier. The fact the Argos share price has taken a hit on very small volumes is testament to what I have just said , but in fact the fact that Chatham is now going to be drilled earlier than expected , will slowly take the share price up, but the thing that will make everyone sit up is when Rhea is successful and the company can become extremely lucrative with a huge income stream, with no dilution. That is why I shall carry on posting until I feel that the efforts made by this company are rewarded. Of course there is risk but in four out of five wells drilled 20 years ago had oil shows and that was done by today's standards archaic . Tyche feeds Chatham , which feeds Sea lion, so if Chatham comes up trumps again further derisk.

Pause for thought

I meant to say the above is just below hundred mil barrels ,I do not know the cos without drawling through the CPR report again.

Reading the CPR report the Cos of Rhea is 38per cent and the Posiedon stack is 31 per cent with additional fields in the same stack namely ,Ceto ,Oceanus, Calliage, Maia, and finally Cerius all of which average around 11 per cent, with a very conservative of 443 oil recoverable, Rhea being by far the largest the is a very high Cos. Tyche I believe as I have not looked it up is below a hundred but as I said before Rockhopper has acknowledged it is a feeder into Chatham and the larger Sea Lion basin. All this info is going to be important up to spud of Chatham as it a short distance approx. couple of Kilometres from Tyche , Rhea is directly North not far away. After the disappointment of Isobel , it has benefited Argos immensely time wise. The fact they going back to Isobel should make holders Fogl and RKH not too dismayed.

RKH have acknowledged this well is connected to Tcyhe one of Argos plays. Falklandinvestor was first to spot that we are next up after the Isobel problems. I do remember saying that all was not well at Isobel, but they are repairing the broken machinery and will go back to Isobel later in the programme of drills, at least it's not a dead duck just a mechanical malfunction. This next drill will help derisk Argos before the Rhea drill early autumn.

Late trade of 250000 buy, on big volume late or delayed trading , someone is trying to accumulate on the cheap.

Just shows you how the MM are behaving at the moment Falklandinvestor thought he was buying with his tell tell 066 .and it was shown as a sell including my buy of 41000 was not shown as a buy or a sell!!!!!!

Yes I saw that 250 000 buy, but of course I agree all the companies will be able to fund further development of drilling or for that matter production, but when you are reliant on the so called major player namely Premier ,they are calling the shots. That is the reason John Hogan said eighteen months ago that they wanted not only a company who would fund the drilling but more importantly someone who had the clout and muscle to get it out of the ground, and that is precisely what Argos has achieved, do you think RKH would not do a deal with Noble if they could if it speeds up the producing side of things?

I correct you there, Rockhopper were interested in Argos , and offered them the tail end of the Ocean Guardian exploration with a three week window to drill , one it was financial suicide and far too rushed to make sure of a successful drill. If you think that Sam Moody was not interested in Argos you are so wrong, and imagine what he feels like when the likelihood of Argos producing output of Oil before Rockhopper. And as I have said before we do not have the worry of raising their share of the costs, when of course Premier oil allows them . I know which company I would want to be invested in !!!!!

I agree with Falkland investor and Wraith but Argos carried out the very expensive 3d Seismic with I think Rockhopper and maybe the old Desire outfit now under Fogl control, therefore although Argos are very much in the driving seat they will have to share the spoils , but remember are founding Chairman and MD , Ian Thomson and John Hogan were here back in 1996, nearly twenty years ago and have a member of the ruling Falkland Islands on their board , so the likes of Moody are new kids on the block. I was asked by someone last night " should I sell RKH" , my immediate reaction was Yes. Because of the simple reason they have given there prize jewels to a Company who cannot afford to go into production and still , even though we are well above the famed 50 dollars threshold, still no commitment. The market has still not realised that sleepy old Argos have pulled of an incredible deal and stolen a march on all the other companies. No raising any capital for drilling and no raising money for Production , which is what would happen if we had retained even 5 per cent of the company. The Institutions which have eaten them alive and the shareholders would have been terribly diluted. The new potential area north of PL001 is so exciting but lets get Rhea drilled and up and running , and we don't have to wait an age to know the result , it is five months away.

I a very interesting question , and as I have been down the pub with some other Argos investors , yes you know who you are, lovely to see you, I will have a answer for you tomorrow , but I say again brilliant question .

Sounds great should we invest?in your Frankfurt float. I agree to that ratio but some ares of the Falklands are so different in terms of Depth and Geology it is difficult to use the normal criteria . All I know is that Argos and Noble know from the 3d Seismic Humungus potential oil reserves with a 38 cos that is quite high. Best of luck you are obviously very knowledgable eegbi . Lets work together to get this share to its true value and pull the other companies in from the cold. That means everyone guys.

I was asked a question this morning and answered it , I reserve the write to my opinion. My only concern is Argos, I am in this share and not any other Falkland oilies , although I wish them all the best of luck. We all should be routing for each other to get this whole programme under way. Now Noble have come into the picture we all should take comfort things are moving forward, but not all the current drills will be successful , one failure is a very good result. I hope I am proved wrong.

If you read Folg and RKH boards there is concern that Isobel is having problems, so there is my answer.

Lets put it this way Isobel is a one hit wonder, has to be right in the right spot, and Humpback has huge potential but they have found both oil shows and predominately gas, and with the new 3d they have a good chance of success , so in my opinion it will be partially successful but will give great confidence to the poor unfortunates of Borders and Southern and strengthen Falkland oil and Gas . But why did Noble go into Argos , that's your answer.

On reflection I do not feel I should comment on another companies chances of success so I will keep my opinions to myself but the people I have been speaking to feel that there will be one failure , one partail success, and three complete successes, Rhea being one of them.

An oil analyst who works in the city for a mate of mine , said that if Argos and Noble are successful in any exploration , not only would Argos receive 5per cent royalty on every barrel of oil regardless of capex, but the market cap of Argos would be 30 times greater than today's price. With a 38 per cent Cos on Rhea that is not a bad punt. I have said this since Tuesday of last week and slowly but surely the penny is dropping.I do not know how long I shall carry on posting, I have resisted from entering this form of media, but find it quite enjoyable and the fellow posters are not half as nasty or argumentative as RK or Folg boards, so I may continue for a short time and give you my idea on whether Isobel is going to a success, maybe next week.