Falkland O&G Share Discussion Threads

[efagie] 08/10/2015 10:49

All this stuff regards money, leads me to question where's the monies allocated for the second SFB drill? given they expected to have some $30m left after all the 5 drills were done. So has that been paid back yet?

[moneymunch] 08/10/2015 10:47

Chunky buys now coming in, lots of peeps shaken out of the tree this morning. Gl to those who held tightly. :-)

[moneymunch] 08/10/2015 10:41

Lol Truly, a bit premature until we know Humpbacks result, potentially a far bigger prospect than the north. Gl :-)

[trulyscrumptious] 08/10/2015 10:22

Time to move on and drill Rhea, unless there is a spectacular turnaround the SFB is becoming a graveyard.

[ngms27] 08/10/2015 10:16

A few facts:
FOGL are responsible for 27.5% of the costs of Humpback
As of 1st June FOGL had just over $40m
We don't know whether the rig has failed or well design / control were the issue. FOGL may thus be on the line for every day of operation
Jayne monies are being materially paid next year, see the RKH RNS

In this game it's wise to consider every possibility, including the worse nightmare.

[moneymunch] 08/10/2015 09:57

Tree shake over???....↑↑↑↑ :-)

[moneymunch] 08/10/2015 09:55

Fogl will not be responsible for any costs relating to downtime because of equipment failure, and as we don't know how much downtime there's been, no one knows how much it's costing. Gl :-)

[nick rubens] 08/10/2015 09:54

There is no reason to think it's a duster. The last two wells came in and better than expected. Nothing has leaked so this big well drill may be about to gush with oil. If you are too scared then panic and sell them. :)

[robpuguk] 08/10/2015 09:52

ngms27 - stop talking nonsense, you have no clue on actual cash burn. The $40 mill they had left is after all costs for the 65 day drill had been paid.

So factor in the extra 10 mill from jayne... then its down to how many days the rig hasnt been working. No one knows ANY of the uptime or downtime information.

So as you have now taken your small loss.. try talking it down even less than you normally do eh ?

[ngms27] 08/10/2015 09:48

Noble, FOGL and Edison have made it clear that there WILL BE no further drilling in the SFB during this campaign. This is to save costs AND given them time to carry out the necessary technical work post Humpback even in the success case.

Also FOGL are now out all but out of cash....

[moneymunch] 08/10/2015 09:42

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.

[moneymunch] 08/10/2015 09:39

Lol I suspect the very same posters who were telling us to ignore borgo are the majority of sellers this morning....big bounce coming imho and still all to play for with potential discovery news imminent. Gla Fortune favours the brave. :-)))

[robpuguk] 08/10/2015 09:37

Agna u jumped ship? u moved the market mate hehe

[nick rubens] 08/10/2015 09:36

A few will kick themselves as this rallies back. Sounds like a ploy to buy shares on the cheap ahead of another successful result.

I'm ready at the BUY button.

[whoppy] 08/10/2015 09:26

Funny how everyone says don't listen to Borgo and then when he say's something remotely negative, like an RNS on Friday probably not a good day to realese news, everyone panics..lol

[jimduggan] 08/10/2015 09:20

Even market manipulater borgo has lost respect lol

[agnabeya] 08/10/2015 08:16

Shanie......nah, you made a good point. :)
GLA ....I'm guessing a week from now for the RNS.
To hold on, or not to hold on?
Seems I've been here before...:)4

[chrisc168] 08/10/2015 08:09

I let you know the amount of oil they have found once the RNS is released.

[moneymunch] 08/10/2015 07:32

ps the ER is still at drill with the Sentinel and Leader, and the Legend is also close by. GLA ;-)

[chrisc168] 08/10/2015 06:02

That's right, I been told to keep the lid on it.