Falkland Oil & Gas Live Discussion

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axel27 12 Jan 2016

nobel Interesting. Nobel were contracted to drill, and mucked it up. They redrilled.Fogl shareholders got damaged in fogl valuation as result nobel actions.Any legal eagles like to outline fogl shareholder rights to recover damage in us courts from nobel for their negligence in well design.Rkh ain't going to take action.Fogl o and d insurers must raise an eye to event timing.I'm feeling screwed by what's happened.While no value is lost, the distribution of value between fogl and rkh is questionable.A

Desireoil3009 11 Jan 2016

Re: Merger... develop or sell axel27. That is correct. However, the intention was not to trade for a pittance into another oil company, but to generate a massive share price from gluttonous majors. The business model failed, thanks to NBL. Now RKH have done to FOGL what FOGL did to DES and we can forget about the old 'prove up and sell'. It's gone.investorprotestor. The money has already run out. That's why there is a merger ongoing.In a month this BB will be void of inputs and in two months it won't be here.

investorprotestor 11 Jan 2016

Re: Merger Face the music, the money will run out before the oil price comes back k. 0p soon

psych8 11 Jan 2016

Re: Merger In 2008 to 2009 when the oil price collapsed, it actually recovered quite quickly, from below $40 in February back up to $70 in June 2009, so there is hope. I know then it was about demand not supply but it shows prices could quickly turn. Who knows? Short covering, OPEC cuts, steeper US production falls, Chinese economy not as bad...

axel27 11 Jan 2016

Re: Merger... develop or sell Folks remind me.I thought fogl biz plan was explore, appraise, sell.Rkh was more towards development?Is that correct...A

axel27 11 Jan 2016

Re: Merger... develop or sell Folks remind me.I thought fogl biz plan was explore, appraise, sell.Rkh was more towards development?Is that correct...A

axel27 11 Jan 2016

Re: Commercial oil discovery So commercial at usd32....is what I thought rns said.I suspect like shells merger, needs higher number.But a commercialisation plan will I guess be tabled and moving out of exploration would be fantastic. Great stuff. A

fecm 11 Jan 2016

Topped Up I must be crazy. Average now standing at 27.63p. Not inconceivable that I may oneday break even. Good luck all and fingers crossed for more god news over the coming weeks/months.

efagie 11 Jan 2016

Re: Merger TGF."Sorry to be a wet blanket. However, at least FOGL holders (I'm one) can rest assured that they haven't been cheated out of anything by the merger."Not been cheated? you don't find it odd that they must have known of the oils found and at what, some 480m with 27m net, and yet announce it less than a week AFTER the merger vote. They knew of the oils, what would of happened IF it was known about the oils before the vote?

monkeys34 11 Jan 2016

Re: Merger I had assumed that the strength of PANR was more to be with the fact that discoveries were onshore rather than offshore deep discoveries.Had thought that as the commodity was in theory 'more accessible' it therefore represented lower capex, lower operating costs and could therefore offer more value based on current POO.

Robpug_uk 11 Jan 2016

Re: Commercial oil discovery Sheer size of discovery means lower capex/opex per barrel i guess...Even Sealion is still commercial IMO but sadly Premier's own thresholds will be different cos they are upto their eyeballs in debt..

rogk 11 Jan 2016

Re: Merger Rubbish.PANR are selling up as soon as their field is fully appraised. The share price has rocketed. IF RKH/PMO decided to put their field up for sale you would have a bidding war. The share price would rocket too.

monkeys34 11 Jan 2016

Re: Commercial oil discovery Axel,I think the quote was:"Whilst the data acquired is still to be fully evaluated and integrated, the initial view of the Company is that the Isobel/Elaine complex is likely to contain commercially viable quantities of recoverable oil. The 14/20-2 well will now be plugged and abandoned."So it seems like it may be commercial but still waiting on confirmation. I had assumed that the statement meant it would be commercial at current POO.

axel27 11 Jan 2016

Commercial oil discovery Good morning ...from Texas,Did I read commercial oil discovery in that RNS I quickly skimmed?If I did, can anyone explain how that can be at $32 pB.And then the affect of the share price is interesting in that it is so calm.As the man said "shame they didn't drill this one first" and to whose benefit was that?Axel,Throwing a brick from Texas.

OilxBaron 11 Jan 2016

Re: At last some good news The barman...don't you mean the RNS that was published first thing this morning?? Borgo's newest tact = to predict the news after it has actually been released.....mor0n.