Member Info for wordog

Required here, can help but think this will be traded up and down for a while. No more buying for me, i'm happy to sit and wait now.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11545640/Race-is-on-to-tap-1bn-barrels-of-oil-in-the-Falkland-Islands.html

What a joke.

They just used their 54% to push the resolution through

Wasn't very high today and not that many buys, just goes to show how quiet this share has been for such little activity to push the price up. Maybe we will see a big delayed trade tomorrow?

On first reading the RNS this morning i was pretty ambivalent, after a few hours thought I believe this is a terrible deal for us. However at the same time, given the current environment, could we really expect much more? It seems to me the board are taking this opportunity to reset the clock on the licence allocation and to meanwhile acquire more acreage. The small amount of cash received is a fair bit when you consider how little is left. I think short term its a bad deal, long term it keeps their head above the water with a 38% chance of a payout in the future.

http://www.argosresources.com/perch/resources/arg-economic-assessment-of-the-rhea-prospect-oct-2013.pdf

Correct me if I'm wrong but: Basically Noble/Edison will drill Rhea and we get 5% of any production profits? After Rhea if they want to relinquish the licence they are under no obligation to stay. We get some cash, $2.75 mil and $800000'per year while Noble/Edison continue to utilise the licence. Goes to show how tough the market is, not a great deal but at least we are getting a well drilled.

ER averaging 30 days for drilling. £3.9 million saved per drill. That's significant.

FOGL/RKH spud Isobel deep well in NFB.

Analysts believe that the partners in the wells are paying about $570,000 per day for the Eirik Raude based on day rates from mid-2014 when the rig was contracted. However, today the market rate for the rig is a lot less … about $440,000 per day. This suggests scope for renegotiation of the day-rate, especially after the initial four wells have been drilled.

Be careful what you wish for, the Desire deal was pretty poor if memory serves me well.

I've almost broke even!!!

People are seeing a bargain here with the Zebedee discovery.

42 posts on ARG board but none on RKH or BOR. Why?

They have a condensate discovery but in the south basin which is more expensive to drill. Looking for a partner to conduct appraisal and further exploration. I'm gambling on ARG and BOR for this year with my AIM oilers, if RKH and/or FOGL hit then there will be money to be made without a farm in.

ARG is a gamble at the moment for all those reasons, but with larger gains to be made if it pays off. Our confident friend seems to be adding at a level to which he believes it is less risk. We shall see, I for one hope it does as I have a small holding here as a punt, as well as BOR.

Sound advice all round, but you have to be in it to win it! Just don't invest more than you can afford to lose!

Or the banter train?

San Miguel and Anne Frank interested apparently