Falk IS. Hldgs Share Discussion Threads

[togglebrush] 22/8/2013 08:00

From Premier Oil Interims ... Also see RKH Full Year and complaints about taxation by Falkland Island Government
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THE FALKLAND ISLANDS
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A considerable amount of work has been undertaken on the Sea Lion project in the first six months of the year. A subsea development tied back to a floating production, storage and offtake vessel (FPSO) has been confirmed as a viable scheme and a phased drilling programme selected. Initial development will start with the major part of Sea Lion in the north followed by a subsequent southern development which will access the remaining part of Sea Lion and other discoveries. Premier is targeting project sanction for the end of next year. Progress has also been made in securing a rig for an exploration campaign starting next year.
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Development
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On 1 November 2012, Premier formally became operator of all of the licence interests previously operated by Rockhopper, thereby becoming the operator of the Sea Lion development project. Since then, Premier's newly formed dedicated project team has been focused on evaluating the options for the development of the field.
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During the half year, the project team, in collaboration with third party specialists, has progressed a comprehensive set of studies as part of the pre-FEED (front end engineering and design) phase to refine the development concept. These have included detailed work in areas such as metocean studies, FPSO design (including turret design and topsides layout), flow assurance methodologies, subsea equipment layout and installation methods, reservoir studies and well trajectories. These studies have now either been concluded or are nearing completion.
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A phased approach to development drilling has been selected. It is envisaged that drilling will initially target the northern part of the field, and is estimated to recover 284 million barrels (mmbbls), with the southern area subsequently tied back to the host facilities and estimated to recover a further 110 mmbbls. The second phase of development will be optimised to incorporate any additional exploration or appraisal success. Premier is working to participate in a multi-operator exploration programme starting in the second half of 2014 which will include a well to confirm the presence of a gas cap in the west of Sea Lion.
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Premier has confirmed that an FPSO is a viable host facility for the Sea Lion project, however conceptual studies have indicated that a Tension Leg Platform (TLP) with an integral drilling rig may offer significant cost savings while providing better motion characteristics and flow assurance options. Work is now ongoing to optimise the design specifications (such as capacities and construction methods) for both the FPSO and the TLP schemes and to prepare the documentation for FEED. A final decision between the two is expected to be made at the end of this year with project sanction targeted for the end of 2014. The timing for first oil will depend on the final scheme configuration.
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Exploration
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During the first half, Premier has continued to work closely with Rockhopper to define and mature the lead and prospect inventory within its acreage in the North Falklands Basin. As a result of this work, an exploration programme of at least three wells with multiple stacked targets is planned. The exact timings for this programme are still being firmed up in conjunction with other operators in the area.
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This exploration programme will include the Zebedee well, which will test the extent of the proven F2 sequence towards the south as well as the older F3 sequence. The well, testing the gas cap on the western flank, will also test the deeper potential Chatham prospect. The results of this work will be incorporated into the planning for the Sea Lion development.

[eburne1960] 21/8/2013 19:29

Well, as the AGM circular stated, it does seem pointless having 4,300 shareholders out of 6,200 holding less than 100 shares, and 1,400 holding 5 shares or less. And as it costs the company £10 a year for each of those shareholders, it seems good housekeeping.

[xlairways] 21/8/2013 16:26

Can't really understand why they did the share consolidation then to re split them. Seems a waste of administration fees to me.....

[ifthecapfits] 13/8/2013 09:02

FOGL doing rather better of late. Bring on the next drill.

[ifthecapfits] 24/7/2013 09:03

Just taken a few more for the bottom draw.

[ifthecapfits] 15/7/2013 14:45

Good to see directors buying in recently.

[togglebrush] 15/7/2013 14:42

Deep Mid Winter out in South Atlantic. It is hibernation time

[ifthecapfits] 15/7/2013 14:40

Gone back to sleep for now.

[bigend] 03/7/2013 05:12

The preliminary 3D survey results are due out soon. The Directors must be anticipating some positive news.

[ifthecapfits] 01/7/2013 14:29

Bodes well does it not.

[eburne1960] 01/7/2013 14:01

And yet another buy - don't recall seeing so many director share purchases in this company....

[ifthecapfits] 17/6/2013 12:19

More director buys. Bodes well - I hope!

[togglebrush] 16/6/2013 15:06

Some Maths which may explain the Spike in share Price

Director's purchases were 27,500 on 12th and 13th, following the results on 11th.
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Using a back of a Beer Mat calculation and assuming that in Daily Trading Volumes each trade is a discrete buy or sell then divide the total by 2 and you get a total market of some 41,500 shares changed hands on the two days. These means two thirds of the purchases were made by Directors.
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Date Closing Price and Volume
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11/06/2013 335.50 _4,916 ___ Results
12/06/2013 352.50 22,976
13/06/2013 365.00 60,439
14/06/2013 372.50 _8,672
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For comparison Daily Trading Volumes have of median of 6,975 based on 3 years data (source ADVFN). That is the middle of a sorted sample and is taken as a Normal Days Trading.

[ifthecapfits] 14/6/2013 12:08

and the share price showing some life!

[eburne1960] 13/6/2013 14:31

Nice to see directors buying almost £100k of shares!

[ifthecapfits] 13/6/2013 10:57

Looks like the 'picks & shovels' are going to win the day!

[dell1234] 10/6/2013 11:59

Shares Mag article on FKL following results
hxxp://www.sharesmagazine.co.uk/news/preparing-for-the-falklands-oil-boom#.UbW9JPk3s_w

[togglebrush] 10/6/2013 06:07

Group Financial Highlights
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-- Group revenue increased by 4.4% to GBP35.6 million (2012: GBP34.1million)
-- Underlying pre-tax profits increased 1.9% to GBP3.29 million (2012: GBP3.23 million)
-- Underlying basic earnings per share of 21.6p (2012: 26.3p) reflecting the 33% increase to share capital following the equity issue in July 2012
-- Cash balances totalled GBP11.4 million (2012: 2.8 million)
-- Bank borrowings were GBP2.0 million (2012: GBP3.0 million)
-- The Board is recommending an increased final dividend of 7.5p per share, which makes a total dividend of 11.5p per share, up 4.5% on last year (2012: dividend: 11p)
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Outlook
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The Falklands economy is on the threshold of a decade of dramatic growth as the Sea Lion discovery is developed. Projections prepared for the Falkland Islands Government show an increase in GDP from GBP140 million in 2012 to GBP1 billion in 2018 and on the basis of current oil prices related tax revenues are forecast to average GBP150 million a year for 30 years.

[togglebrush] 09/6/2013 09:48

Extracts from
17(th) April 2013
Pre-Close Trading Update
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"The Group's preliminary results for the year ended 31 March 2013 are expected to be released on Monday 10 June 2013."
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The Group's trading performance for the year was in line with market expectations and the FIH Board expects to report underlying Group pre-tax profits (before amortisation and non trading items) of approximately GBP3 million for the year ended 31 March 2013 (2012 GBP3.2 million).
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The Board anticipates that the total dividend payment will not be less than 11 pence per share (2012 11 pence per share).

[ifthecapfits] 17/5/2013 14:55

Flatlining.