Member Info for Tuggy

I said I would not comment for the time being , however I think the latest pull out of Noble might serve a greater purpose in hat they have paid all movies owed up to Nov next year , and there will not be a problem with extending the Argos licence , as the licence now reverts totally back Argos. The reality is that if PMO and RKH do not sanction FID , then they have big problems extending their licence with FIG if they have not performed due entirely to lack of funds.
Another British company will be waiting on the wings waiting for the news to unfurl, however, one company is next door debt free , huge potential , a perfect foothold for the future. Argos is not dead and buried , far from it.

Argos shareholders should not fear for the future just sit tight , as they have done for the last eight years, events will result in some good news for investors , but be braced for a considerable sea change in the coming six months FID.
Argos are in a good place , so keep hold of your shares, the MM s have made them very cheap on very little selling in the past week.

Thank you Falklandinvestor for your thoughts very much in line with mine, however I think I would prefer to have the whole licence now with Oil worth more than double than when they struck the deal with Noble. At that time sanctioning Sea Lion was a long way off and Premier nearly went under.
Now is a completely different sceneio were PMO and RKH wanting active partners to help finance SL , they will see a golden nugget right next door which effectively has just come back on the market.
It would be interesting why Noble walked , I think political however in my opinion they have done us a favour because the share value must be more now than oil was below 30 dollars and the likiehood of production zero.
A completely different environment has occurred therefore some very interesting months ahead, speculators will be looking closely on any news.
I am in this for the long haul and have always had faith in the Argos BOD, who have not lined their pockets in anyway compared to other FI oil companies I can mention.

Some interesting points.
Wait and see this might turn out to be so much netter than Noble deal.

Noble never drilled on Argos acreage , they were three weeks away from drilling Rhea, when due to a spat of blowouts during Isobel and Humpback the Erik Raude was considered too risky so Noble pulled out.
Eni announced at the beginning of the year they were pulling out of any exploration around the world and Noble has a govt more inclined on home pastures , the culture of the Yanks ruling the world is diminishing rapidly, however they have given Argos over £1.2 m since the tie up, when POO was more than half what it is today.
Personally with sanctioning of Sealion now a distinct possibility I am rather glad to be away from the constraints of relying on making any money when they actually start producing. Argos will seem very cheap when and if Sealion is sanctioneddue to its monster Rhea field only 3 km from SL.
I hope we see an all British band of oilies in the FI so we are not reliant on Russian imports and EU intervention.

Argos sold 100 per cent for a 5 per cent royalty payment to shareholders of the gross production .
That was when oil was in the twenties , and when the Erik Raude was three weeks away from drilling Rhea when Noble created Force Majere due to chronic problems on the rig , which had a couple of blow outs before doing humpback.
Argos are a well known company of over twenty years in Fishing and land business so FIGwill continue to support Argos future endeavours. Now POO is over 85 it looks like a British partner might come in , alongside SeaLion sanctioning.

I do not hold with all the doomsday comments, we have received nearly £1.5 m during a huge downturn in the industry, from a USA company now under news rules from the powers above, in return Argos are handed back 100 per cent ownership of the first field in the FI .
The fact that we are on the brink of producing oil only 3 km away with oil at 86 dollars , Argos acreage with four huge potential fields available , in all honesty waiting for ones 5 per cent royalty started to seem a long way off.
Brexit will make the whole of FI hugely valuable, and Argos value greatly increased due to the potential amount of oil on the doorstep of SeaLion. The Yanks are walking away from numerous ventures at present , good riddance I say.

A few buys at 4.48 , they have another plan I suspect .

Absolutely Mike mike , as soon as Susan Cunningham retired from Noble , the main force behind FI involvement I think the board have been pre occupied with Israel and Permian basin .
On reflection with Sea Lion about to be sanctioned we hope , Argos now owning the Licence again 3 km from Sea Lion itself takes the shackles off and creates more value for shareholders , and other companies will be flocking to get a piece of the action once PMO sanction. Crucial but not a bad bet.

Clears the way forward for an all British oil territory outside the North Sea, something Alan Duncan feels crucial when we Brexit and need less reliance on our neighbours for power and resources.

Clears the way forward for an all British oil territory outside the North Sea, something Alan Duncan feels crucial when we Brexit and need less reliance on our neighbours for power and resources.

Not surprised Yanks have walked, knew nothing was happening due to their silence in any participation with sanctioning Sea Lion. Trump has a lot to do with the America thought process on international licences.
Argos now retain full ownership rather than 5 percent royalty, which makes SeaLion sanctioning all important to the potential value of this share. Make a negative into a positive.

Premier Oil in negotiations with the above regarding a FPSO vessel like the Catcher field for the Sea Lion project.
PMO and RKH both ending strongly today.

Mike Mike I have not looked at the figures I confess, so I am not in a position to say, but the only explanation can be there is a lot more going on than a dormant company, remember Noble only have the licence until Nov 2019, when they either religuish or extend or it reverts back to Argos . Noble are not going to give up such a prize in a hurry, I think we can expect some news soon however I would be interested in your reasons why this has occurred in the books.

Interesting , might mean there is more actively then everyone thinks, trips to Houston being one destination being one cost , remember Argos were originally being paid 800,000 dollars , then after the cancelled drilling campaign reduced to 400000dollars by Noble. I think we shall be hear news early 4 th quarter, Argos keep activity or news very close to their chests and announce any deals when all the factions are in place, unlike PMO and RKH who give updates on SeaLion constantly and then never seem to deliver on time.

I think if Corbyn does get in I might flee to Argentina and plead that the USA take over the Falklands.
However Noble have not been in a position to announce anything about FI as Argos and the Noble board are preparing a drilling campaign before the NOV 2019 deadline expires and watching closely PMO and RKH programme.
To imply Trump has told Noble to sit and wait for the downfall of the Tory Gvt is ridiculous and scaremongering.

Tony Durrant in an earlier interview about a month ago stated full sanction of Sea Lion will happen after a full board meeting probably in the second quarter of 2019.
As Ovets mentioned HMG are keen on making this happen for obvious reasons , however Standard Chartered have a lot of work to do to enrol all the component companies required to get this off the ground ,but also the cash to fund the first phase. As usual patience is the name of the game here, but I am convinced this will happen , but between now and then some other investors will come out of the woodwork to share the load. This is a twenty five year investment , so serious number crunching to get it right from the outset is required.

Tony Durrant in an earlier interview about a month ago stated full sanction of Sea Lion will happen after a full board meeting probably in the second quarter of 2019.
As Ovets mentioned HMG are keen on making this happen for obvious reasons , however Standard Chartered have a lot of work to do to enrol all the component companies required to get this off the ground ,but also the cash to fund the first phase. As usual patience is the name of the game here, but I am convinced this will happen , but between now and then some other investors will come out of the woodwork to share the load. This is a twenty five year investment , so serious number crunching to get it right from the outset is required.

I apologise Noble Energy , wish they were drilling but interestingly enough ENI who have 25 per cent of PL001 with Noble on the Argos acreage have recently announced they are selling worldwide all their exploration interests, which could entice another American company or PMO / RKH to join forces, some of Johnson field is owned a third by Argos and Sea Lion is only a matter of a few Km from the proposed first drill Rhea.
Noble still own the floating dock at Stanley , so sharing and rig for drilling and appraising Isobel would not be so pie in the sky. Your thoughts are welcome.

Everyone forgets that Noble still have the Argos licence , some three KM from Sea Lion, would be interested for everyone viewpoint on Noble being a potential partner in the future development.