I'm happy to be called thick here, but today's volume is only at 163,000 and the SP is up nearly 6% - with ups and downs along the way - average daily trade is over 2,000,000, so how can 163,000 move the SP so much?
Jefferies target price 29, Panmure 25, Numis 42....if enough 'experts' keep guessing then one of them is bound to be right
Stephane Foucard seems confident in Premier oil which can surely only bode well for fogl [link] Anyone here want to predict if Noble will snap up fogl mid spud??
Numis are sticking with buy at a target of 42p [link]
...at least I'm assuming that's the presentation - it says 'Feb 15' on the cover sheet instead of 'Mar 15'. [link]
The presentation is here [link] or just visit fogl.com and go to 'download latest presentation'. I'd guess stronger trading (buying) tomorrow/Thursday. Am I right in saying that, according to fogl's presentation, if things go well, that their asset value could treble?(current assets ($110mn) + non-current assets ($242))
According to their website press release at the start of Feb they had $100mn in cash & no debt. The Eirik Raude costs about $250-300k/day, so I'd say that FOGL are pretty cash rich for this venture