Member Info for Tuggy

I have been a property man since 1973 , and seen four market crashes, and believe funnily enough we might be seeing a bottoming of the market although London will remain a buyers market for another year, however when Purplebricks appeared on the market, I thought immediately their model was floored due to the fact there is no real incentive for them to actually sell the property as their had already, had upfront funds.
The reason the two bigwigs who incidentally have little experience of property, have been found out and have been effectively fired, due to telling lies to the public and institutions of the number of actual sales they make.
They will run out of money shortly and the guru Woodford will have another bloody nose to add to other dodgy investments he has made in the past.
Any forum that requires money upfront for selling your house , it is pure logic.

I have been a property man since 1973 , and seen four market crashes, and believe funnily enough we might be seeing a bottoming of the market although London will remain a buyers market for another year, however when Purplebricks appeared on the market, I thought immediately their model was floored due to the fact there is no real incentive for them to actually sell the property as their had already, had upfront funds.
The reason the two bigwigs who incidentally have little experience of property, have been found out and have been effectively fired, due to telling lies to the public and institutions of the number of actual sales they make.
They will run out of money shortly and the guru Woodford will have another bloody nose to add to other dodgy investments he has made in the past.
Any forum that requires money upfront for selling your house , it is pure logic.

Johnson field has been acknowledged by RKH to be thirty per cent owned by Argos, quite apart from the Rhea field which has a the hallmarks of another SeaLion and three other prospects , I think all those assets have been not reflected in the market cap of the company due directly by the disastrous Sea Lion scenio currently in play.

Just a add on to my last post, I think is also pertinent is the value of the oil to GB if their is no deal Brexit, that will make FI crucial to future needs, and will need the likes of Argos to help in that quest.

I respect your very well informed reply and agree wholeheartedly with a great deal of what you say , however with regards Argos , I would never under estimate their value and influence in whole schemes of things stretching back four decades and have huge load of goodwill within the FIG for they presence during the exploration of the whole basin.
That fact alone will allow Argos to maintain their foothold in the FI and help the continuity for the end user.
Mike Mike , your thoughts are of the highest however sometimes old fashioned loyalty will prevail and allow the FI oldest ally both in the political world but as you pointed out , maintaining their flourishing fishing industry but also the winter of the essential landlord of the future workers, they will not be allowed to relinquish that for nothing hence I maintain Argos still has considerable value , happy new year.

I suggest you look at the finer detail of the agreement, and there you will find the answer to your question, Nov 2019 is the date Noble had to commit to a drilling programme or tie up with PMO / RKH , neither of those happens hence my earlier post suggesting sanctioning of SeaLion probably will not happen due to debt levels at PMO , which then leads to their time commitment to FIG. Another big hitter is waiting on the wings to takeover the whole basin and Argos will be the entry. Only my thoughts would interested to hear other points of view.

I would be very careful of accusing fellow posters of inside info, I have admitted meetinG the Chairman of the company but stressed he nor his company have imparted any info informally to me , so I would be very careful of any accusation of that nature, however you are either a holder of this stock or a deramper either way you have not looked aat the history of the company since 2010 when they floated and before and inwardly digested what has happened during that time, my personal views are still allowed ,I thought that was why we are here otherwise it would be rather boring.

If you look at the agreement arranged with Noble , the licence reverts back to Argos in the event of any withdrawal.

Yes and fully paid up to Nov 2019 from Noble , whose fortunes have not been good of late their Market cap below 9 Billion half of their value a year ago, maybe another reason for their withdrawal.

Happy Christmas, just seen your question MikeMike, the question being whether or not Noble paid monies owed to Argos in relation to their withdrawal from the PL001 licence, the answer is that they honoured every agreement set out back in 2014.
I do agree that communications will the likes of us , is not top of their agenda, and they unlike the RKH have a very threadbare staff and also spend a lot of time overseas with their fishing business, but be rest assured 2019 will be very interesting and hopefully productive news, keep the faith. Their property investment will provide the essential accommodation requirement for offshore oil workers, another reason for Argos being crucial to the future of FI and they now own one hundred per cent of potentially a Sealion lookalike. Not a bad bet I would think. See you all in 2019 have a great day.

We investors will be alerted to any news when they have anything concrete to say, they are Avery old fashioned outfit who led by Ian Thomson whom I have had the pleasure in meeting who is the old school type of businessman who is totally trustworthy and beyond reproach. Keep the faith and you will be rewarded. It is very difficult to give news these days in the financial markets due to the regulations.

Look at your earlier post !!!

Argos are involved in the land deal near Port Stanley, alongside their huge fishing fleet , why do think they hold such sway in the FIG.
And they have been in the oil business down there since the 90 s , they always play the long game, and to correct you they are not part of any catalogue company, they are a very powerful element in the whole FI framework and still own 100 per cent ownership of a licence 3 Kim's from SeaLion, they will not relinquish that at any cost until they have found a suitable partner and that probably will not be PMO or RKH.

All I will say there are whispers a foot, don't loose the faith.

It is with heavy heart that the PMO and RKH probability of sanctioning is now improbable due to the state of PMO financial position, the city will not be prepared to lend to a company with such huge debt mountain, and the reason why Noble Energy withdrew from the Argos territory a month ago, it is now obvious the FIG will withdraw the licence in its current form and look to a larger more robust company who are capable of carrying the project forward .
The whole problem arose when RKH chose PMO rather than Cairn. How this predicament leaves RKH is anyone's quess but I think Moody will be looking for a few allies to get this back on track.
You have to given credit for finding Sealion but his choice of partner was engineered to line the pockets of their financial adviser , a name I will not mention hear.

PMO have remained silent on Solan, and said nothing about Standard Chartered bank ability to find funding, I truly believe this will not get sanctioned and PMO will try and pass the whole involvement in Falklands to another company, how that leaves RKH is anyone guess.

Eni / Edison are more gas explorers , however as I stated earlier they are now out of exploration period, and are seeking to sell all their assetts which are surplus to their main core business . The money owed to Argos has been paid to compensate Noble walking away, however I think any farm in agreement would be a similar royalty payment to the Noble deal , but things next door might be in a completely sphere than four years ago. Certainly going to be interesting times.

Eni have pulled out of all worldwide exploration and Noble are heavily committed to Middle East and Permian shale, however before pulling out they paid the 400,000 dollars to Argos.
The reasons for them pulling out will all be revealed within the next six months I suspect , when the whole Sea Lion will be sanctioned or not. Argos will benefit either way in my opinion

This board always ends up being very unpleasant, so I do not post here, I have found Falklandinvestor, a great supporter of FI over the years and gives encouragement when most are being either offensive or plain moronic.
We should all hope for RKH ado get the sanctioning , as if they do not they are in a very bad place.

If SeaLion is not sanctioned by PMO/RKH , then they will not have their licence extended further, other oiliness know this position and will not help provide finance for a farm in , they want a clear playing field , and an ideal entry is Argos.
If it is sanctioned Argos will be also a prime target for another company to explore and join the cost of production.