Argos Resources Share Discussion Threads

[corrientes] 18/9/2020 12:36

Its always been North Falklands where the real interest lies, not BOR in the South Falklands. Still anything that moves the moribund explorers in this neck of the woods is welcomed.

[under the radar] 16/9/2020 08:38

OT ... Heads up - it’s time to invest in BOR !!


Borders and Southern :-

1)465m barrels of condensate (light sweet crude)

2)Own 100% of all acreage

3)Darwin (discovery) costs are under $35 a barrel

4)474m shares in issue

5)£3m mkt cap = nothing at all priced in and priced to fail

6)Bod own over 10% of shares

7)Rkh sea lion will get sanctioned next year which will do wonders for BOR

8)Bottomed - no sellers left as all flushed out

9)Bullish divergence on chart with bullish white candles being formed and it’s totally oversold on stochastic rsi

10)Enough money to last until April 2023

11)Update due in next 2 weeks


The Market was over pessimistic and now a correction is due (it’s JUST starting now)

Share price 0.7525p - it won’t be under 1p for long imho

Put it on your watch list at the very least and see for yourself what happens

I wish you luck whatever you decide!

ATB

[under the radar] 14/9/2020 10:23

Time to buy into BOR. It’s near the all time low and there’s bullish divergence showing on the chart. Nice volume there today as well which bodes well.

Just a heads up for the Falklands investors

ATB and GL

[corrientes] 04/9/2020 10:51

or going into the peatlands business on the Falklands. Peatlands holds a third of the world's soil carbon, a vital carbon store. Masses of it on the island, but the depleted stocks would have to be renewed. With net zero emissions all the rage these days, worth a thought.

[corrientes] 16/7/2020 13:06

How about a change of direction here ? A whiff of, say, gold mining in some obscure country or something indirectly connected with the virus should help the share price.
Waiting on Godot certainly won't.

[corrientes] 09/7/2020 16:58

You've got to be joking. Maybe El Presidente hopes he can do a Hong Kong ( in his head that is) and divert the peoples' attention away from the dire Argentinian economy that goes from bad to worse.

Maybe he could assemble a flotilla of clockwork toy soldiers to ride to the rescue on unsinkable paper yachts and aim them towards the Falklands. That might do the trick.

[demonboy] 09/7/2020 12:05

A little risky at the moment as Argentina in new disputes to reclaim Falkland Islands and its surroundings.

[shareho1der] 08/6/2020 19:38

Why such a wide spread ?

[demonboy] 08/6/2020 10:15

Tullow, borders, and Rockhopper all up today. As so is Argos

[burtond1] 03/6/2020 07:32

Time to have a look at ARG?https://total-market-solutions.com/2020/06/03/rockhopper-exploration/

[corrientes] 02/6/2020 18:35

Nah, that's SF I think - prefer NF but all these shares are too low anyway.

[stevebrrr] 02/6/2020 18:26

Very tasty looking so snaffled a few earlier for my locker. Don't forget long forgotten BOR imo.

[corrientes] 02/6/2020 17:26

May be on back of RKH, but was just too low anyway after mini rally of other tiny oilers recently ?

[pugugly] 02/6/2020 17:01

So why the 50% bounce today on no news???????????????????????????

[jnbrw] 03/3/2020 11:07

Flying - yes agreed, but maybe influenced in the next few months by the likely equity fundraising and the potential dilution it will entail.

[flyinghorse1] 29/2/2020 21:25

The ARG share price mimics any Sealion activity

[flyinghorse1] 29/2/2020 21:24

If sealion goes ahead then ARG just gets more expensive (imho) so I don't see finding a partner an issue before a cash raise is required. I may be wrong but securing the license was key.

[cyan] 29/2/2020 20:06

From ARG annual report;

"Administration expenses were $433,000 in 2019"

"Cash in the year decreased from $788,000 to $768,000."

Clearly a fund raise will be organised in 6 months or so, or else, they run out of cash in 18 months.

Am a bit cynical about the 'interested parties' tale

There are not the resources or a rational case for any SEALION partner to go off piste into ARG licence.

[flyinghorse1] 29/2/2020 20:04

Dont you mean US shale screwed up their business?

[chinahere] 29/2/2020 19:59

The oil price dipped after Edison and Noble bought in and US shale oil also made the NFB less attractive.

[flyinghorse1] 29/2/2020 19:48

The annual report (AR)for 2019 says they have $768k cash -enough for at least 12 months.

I think importantly they also say (it bodes well that they can get a license extension and its reverted back t Argos 100%):
"The Company has successfully extended the Second Phase of the Licence from November 2019 to 1 May 2021, thereby creating additional time to secure new partners in the Licence. A further extension may be sought to allow adequate time for drilling within the Licence area. "

Why did Eddison and Noble walk--I think it was linked to having no rig down there to test out some of the prospects on the 1126km2 licence area such as the Rhea stack. Anyone else more informed on why the walked?

The AR also say's
"The main challenge and focus of the business going forward is to attract well-resourced partners to meet the drilling commitment under the Licence."

And
"Although Noble and Edison have served notice to withdraw from the Licence there is no indication that this was due to a lack of prospectivity and the Company is actively seeking new partners to continue exploration in the area covered by the Licence"

I did note that the chairman is no spring chicken (80) and Hogan stepped down from the Chrysaor board in 2019 (Could they be a partner?)

FH

[stocktastic] 29/2/2020 16:45

If RKH gets a payout from Italy, possible that along with other partners, they take on ARG field.
Developing that would be much more efficient linked to Sea Liom

[cyan] 28/2/2020 14:31

ARG results are worth careful reading; notably this section;

"At 31 December 2019, the Group had sufficient cash resources to continue for a period in excess of 12 months beyond sign off.

The Company's ability to achieve its long term strategy of developing its exploration projects is dependent on finding an exploration partner and discussions are underway with interested parties to achieve that. In order to continue as a going concern beyond the 12 month horizon the company will also need to raise further finance either through such a partner or by raising funds in an equity issue.

As described above, the Directors expect to be able to find an exploration partner, given previous interest and the significant prospectivity within the Licence area, and the Company's history of raising funds through the issue of equity, the directors also consider that the Company is likely to be able to raise the required capital. However, there are currently no binding agreements in place. Should the Directors be unable to raise sufficient funds or find an exploration partner, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business.

These factors indicate the existence of a significant material uncertainty which may cast doubt over the Group's and Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group or Company were unable to continue as a going concern."

Any serious interest in the NFB would benefit all ; but is there anything to get excited about in this statement?

"..the Directors expect to be able to find an exploration partner, given previous interest.."

Well, Noble & Edison WERE interested but walked away.

"interested parties" have to wait and see but I would be surprised if its Navitas as they have a lot to raise for SEALION. I guess they, or another, might try to do a similar holding arrangement like Noble & Edison did which would keep ARG lights on.

Here is the nasty 'going concern' bit;

"...there are currently no binding agreements in place. Should the Directors be unable to raise sufficient funds or find an exploration partner, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business."

Imo , the whole statement is clearly about offering hope in anticipation of a fund raising from shareholders to keep the lights on , if the interested parties do not pony up and this line spells it out;

"..the Company's history of raising funds through the issue of equity, the directors also consider that the Company is likely to be able to raise the required capital."


ARG management have got shareholders in their death grip; you either give us more money in a serious dilution and hope a new partner emerges ; or you risk losing everything.

Oh, I hear some say BUT there are "interested parties" really? anybody remotely credible? ummmmmmm Are ARG management looking for a desperate paper takeover by RKH ?
Their negotiating hand is VERY weak.

My bet is there will be an equity raise from shareholders and there will not be a white knight riding to save the day.

[demonboy] 17/1/2020 12:14

https://en.mercopress.com/2018/10/04/four-fpso-planned-for-the-falklands-by-2025-according-to-oil-industry-reports