Argos Resources Share Discussion Threads

[jathomas] 28/5/2013 17:26

This is Aim, there is no logic whatsoever....

[theshareguru] 28/5/2013 16:34

Good day , if the paxt is to go by we could have a few days of going north
Not a lot of stock about.

[theshareguru] 28/5/2013 16:22

Farmout will come this summer

[postiga08] 28/5/2013 16:05

any real reason for sudden rise? following slow unexplained drop?

[theshareguru] 28/5/2013 15:21

See 20p on the horizon

[tshirt] 28/5/2013 15:19

now the price has risen for no apparent reason - when will the loony article posters appear here again...annie get your gun !!!!

[theshareguru] 28/5/2013 13:35

Climbing nicely.

[thomas_uk] 09/5/2013 10:34

Continental Coal - COOL

excellent RNS yesterday in COOL - continental coal and many people missed it.
the JV is expected to commence buying shares from the market to increase their stake, they could start buying tomorrow which means share price will rise substantially

the JV (VMR) came in at premium of 5.5p
directors salary paid at 7.4p
revenue forecast 90m per year and market cap only 20m??

non core assets to be finalised soon, but the main driver in the short term/next week when VMR start buying more shares!!

check the RNS!!

ISAable too!!

[lovegod] 15/4/2013 11:08

hope its shell or maybe

[theshareguru] 10/4/2013 15:00

reading the last announcement, I dont think it will be long to we know who
argos ahve farmed out to.

[casino444] 08/4/2013 20:40

i dont know others may know something , so if argos are in talks regarding a partner and near to a deal then i'm 100% sure if the market gets to find out this share would go way down so they can hoover up panic selling cheap stock ,this type of pre news drop happens alot in aim shares, for example atlantic coal started dropping like a stone for no reason that i can see a week ago then good news out today put it 36% up . in my opinion dirty tricks were used there so on that basis this share game is well fixed ,good luck to all who deal

[tshirt] 05/4/2013 11:42

as the price goes down, just buy more. right next door to a certified field....
no turnover and the price falls, mm fear and manipulation as mr bandito say..

[agnabeya] 26/3/2013 02:56

From Proactive investor -

============================================================================

UPDATE: Argos Resources says search for farm-in partner continues
Mon 10:46 am by Ian Lyall A total of 30 new leads were uncovered that weren't reported in the initial independent competent persons report. A new CPR is expected to be published next quarter.A total of 30 new leads were uncovered that weren't reported in the initial independent competent persons report. A new CPR is expected to be published next quarter.

---ADDS BROKER COMMENTS AND SHARE PRICE---

Argos Resources (LON:ARG) confirmed that it is "more likely" that drilling on its highly prospective licence area in the North Falkland Basin will begin next year rather than 2013, as the search continues for a farm-in partner for the acreage.

Last year was notable for two major deals with explorers operating in the waters off the tiny South Atlantic islands: Premier Oil (LON:PMO) teamed up with Rockhopper (LON:RKH), which has the area adjacent to Argos's; and Noble Oil & Gas tied-up with Falklands Oil & Gas (LON:FOGL).

"We have commenced the search for an industry partner," said chairman Ian Thomson as the group unveiled its full-year financial results.

"Several potential counterparties with the technical and financial capacity to develop and bring into production any commercial discoveries made have expressed an interest.

"We will continue the farm-out process until a suitable transaction can be agreed that reflects the board's view of the value of our acreage.

"The farm-out process is likely to take some time and we are therefore being prudent in assuming that exploration drilling on our licence is more likely to begin in 2014.

"We will pursue an earlier drilling opportunity if one arises but not at the expense of a sub-optimal transaction. Shareholder best value remains uppermost in our minds."

Among the highlights of last year was the 3D seismic data that helped de-risk "numerous prospects", which were larger than first thought.

A total of 30 new leads were uncovered that weren't reported in the initial independent competent person's report (CPR). A new CPR is expected to be published next quarter.

Premier Oil is paying just shy of £1bn to farm into Rockhopper's Falklands block, which contains the giant Sea Lion discovery.

This has created a huge buzz around the neighbouring acreage, owned by Argos, particularly as it is hoped the area contains a Sea Lion look-alike.

Consequently broker Cenkos expects the 1,126 square-kilometre licence to garner a lot of interest from companies looking to farm into the Falklands.

"We see Argos as providing the potential both in terms of upside for the basin and in providing multiple nearby prospects that could be rapidly exploited through a Sea Lion 'hub'," said analyst Ashley Kelty.

"With greater resource upside than that on nearby blocks, we anticipate that Argos may be very attractive to a larger independent E&P company as a farm-in partner for the proposed three-well campaign. We anticipate that this could be completed in the next six to 12 months with drilling taking place in 2014."

The financial results reveal the group had US$5.7mln at the year-end, which is "deemed sufficient to meet the company's ongoing needs and overheads". The loss for the year was US$1.58mln.

Cenkos, which rates the stock a 'buy' up to 70 pence, says Argos is funded out to 2015. At 10.45am, the shares were little change at 18.75p each.