Falkland O&G Share Discussion Threads

[tongosti] 25/8/2015 07:29

I take the following as there will be an additional cost to us re the additional 35 days we will be drilling Humpy"FOGL anticipates that a proportion of the additional costs of this delay will be borne by Noble Energy under a commercial arrangement that is currently being negotiated and the details of which will be announced when finalised."Overall, nothing we did not know already. FOGL still worth hanging on to. Even if there is a placing at some point later in the year (amounting to about 30% of current market cap [on pre-approved 170mln shares]) the potential upside remains vastly, vastly intact vs very limited downside at current levels. GLA

[whoppy] 25/8/2015 07:21

I like this.

"Drilling on the Humpback prospect in the South Falkland basin is currently on-going and we look forward to receiving and sharing the results of this well following completion of the drilling operations."

"With two successes under our belt already and two more wells to complete, the Board looks to the future with confidence"

[agnabeya] 25/8/2015 07:20

Looking at the RNS..interesting it's taking a whole extra 35 days.
Is it just me, or does that seem longer than expected for the initial apparent 10 day or so delay?

[agnabeya] 25/8/2015 07:17

Seems to be pretty much as suspected then.
Perhaps Borgo will stop his nonsense now....or more importantly, people will stop taking him so seriously.
And people do - or they wouldn't spend so much time dissecting his 'clues' which are worded to civer any result.
He has never got anything right.
Not once.
GClarke I take notice of. But I still wouldn't base my trading on his posts.
There was decent volume recently and we held up the share price well considering.
That's a fact I am taking note of.

[ngms27] 25/8/2015 07:12

Agreed likely not encountered a single potential reservoir yet.

[ohisay] 25/8/2015 07:12

Looks like a placing on the way.

[shanieboy01] 25/8/2015 07:11

Interesting. Can idiots on the other board please stop asking borgo for his opinion now. They are probably not even in payzone yet. He loves the attention

[ohisay] 25/8/2015 07:08

Humpback Drilling ongoing
The Humpback well spudded on 13 June 2015 on licence PL012, testing multiple stacked reservoirs within the Cretaceous Diomedea fan complex. A series of unforeseen equipment and operational issues has resulted in a delay to the completion of the well. These delays are expected to extend the duration of the well from 65 days to approximately 100 days. FOGL anticipates that the results of the well should be available in September 2015 and a further update will be provided once target depth has been reached and wireline logs have been run.

FOGL anticipates that a proportion of the additional costs of this delay will be borne by Noble Energy under a commercial arrangement that is currently being negotiated and the details of which will be announced when finalised.

Forward programme
Following the completion of the Humpback well the Eirik Raude will return to the North Falklands basin. Consideration is currently being given to further drilling at Isobel Deep and this may replace the planned Jayne East well. Any further drilling in the South Falkland basin, as part of the current programme, will be dependent on the Humpback results.

Financials
The loss before tax for the six months was $1.95 million (2014: $1.3 million), with interest earned in the period of $0.1 million (2014: $0.7 million). Foreign exchange gains of $0.1 million (2014: gains of $0.2 million) were incurred, principally resulting from Sterling bank balances held for costs incurred in the UK.

At 30 June 2015 the Company had cash and bank balances of $40.1 million which is sufficient to fund the current proposals approved by the licence holders. FOGL is carried on the Jayne East well by Premier and Rockhopper. The Noble Farm-out agreement, covering the South and East Falkland Basin, provides a partial carry on Humpback.

[blakieboy7] 25/8/2015 07:05

Nothing new in the interims, not even a hint in humpy

[tongosti] 25/8/2015 06:57

3 minutes to 7. Not that I'm counting though!

[ngms27] 25/8/2015 06:20

Except we weren't expecting the interims tomorrow!

[thorpematt] 24/8/2015 23:40

Tim Bushell is saying an update will be given in Humpback in the interims tomorrow...which is nice.

[agnabeya] 24/8/2015 21:48

hxxp://www.defensenews.com/story/defense/air-space/isr/2015/08/24/falkland-ground-based-air-defenses-get-radar-boost/32259481/

[agnabeya] 24/8/2015 18:36

efagie - you just reminded me where I left them.......;)

[efagie] 24/8/2015 16:55

not the whip again, agna. glad i dont see the handcuffs;))

[agnabeya] 24/8/2015 16:51

Won't be bored for long Rob - this is the FI!!!

[robpuguk] 24/8/2015 15:42

Bored now! lol

[fadilz] 24/8/2015 15:10

Walter - lol

Agna - agree no-one knows. People assuming the best. Hope we're not disappointed!

[ohisay] 24/8/2015 15:02

This is one of the days you remember - Dow off 1000 points - not often you see that Rodney - and your favourite stocks up on the day.

[agnabeya] 24/8/2015 14:52

fadilz - it's unclear because no-one knows. It's all just guesswork.
What we do know is that our share price is holding rather better than expected when you look at the FTSE and China.
I'm taking a bit of heart from that - but have no real expectations either way.
Investing in the FI has made me very 'Zen' over the years. :)

[walter ego] 24/8/2015 14:51

Man overboard? Probably

[barvin] 24/8/2015 14:20

Looking good for Humpback here, Falkland oil stocks looking very cheap.

BOR could be a good punt alongside this, expect a 40%/50% rise on Humpback success at FOGL and perhaps 100%+ at BOR due to how far it has fallen and further hope of farm out and prospects of SFB. Nice chunky 250k order just gone through.