up another 10% with 3m traded already


gordon geko - 15 Oct'04 - 16:27 - 37 of 41 edit



where too next week ?


Andy - 15 Oct'04 - 17:58 - 38 of 41


gorndon,

well IF the weekend newspapers mention FOGL, we may continue with the rise for a while, but not sure how anyone can predict with any degree of accuracy where the price will end up.

I still feel it has more to go, as there is massive potential here, so may well top up on Monday.


wilbs - 15 Oct'04 - 19:11 - 39 of 41


I agree, there is a masive potential here but not for a few years. DYOR and you will see why. Im gonna buy but will wait till it drops in price.

wilbs


Andy - 15 Oct'04 - 19:44 - 40 of 41


wilbs,

I have DMOR, I have read the prspectus several times.

Potential is what is being traded here, and IF a resource is confirmed, FOGL will race away.

I'm buying now in order to be in at the start, rather than wait for the price to rise against me later, if of course they are sucessful.

Asian Energy is an example of a resource being defined, and look what hapenned there!

I am happy to hold at this level, and as for the price falling, maybe once the initial interest dies diown, unless they release some news of course!

we will see.



wilbs - 17 Oct'04 - 08:34 - 41 of 41


I totaly agree with you andy.

I have bought into many shares too early at a high price only to watch them fall and kick myself as I could of bought them much cheaper.
I will have to keep a close eye on things.

There is a good article on www.oilbarrel.com about FOGL.
Are you also thinking about buying into Hardman, Falkland Island Holdings?

Regards,

wilbs

the oilbarrel article
Falkland Oil & Gas Says Fundraising Oversubcribed
AFX News Limited Wednesday, October 13, 2004


Falkland Oil and Gas Ltd said its offer to raise 2 mln stg via the issue of 5 mln shares at 40 pence each has been oversubscribed. The group said it received applications for 17.45 mln shares, representing 6.98 mln stg. "As a result....applications will not all be settled in full," it said. The minimum subscription under the offer was for 2,500 shares, or 1,000 stg, and all valid applications will receive at least this amount, it added. "Applicants will also receive 12.415 pct of the amount they have applied for in excess of 2,500 shares." In a separate statement, Falkland Islands Holdings PLC said its shareholding will represent 18.1 pct of Falkland Oil and Gas's enlarged share capital.

London-based Falkland Oil & Gas Limited (FOGL) has identified eight leads from existing 2D seismic in its seven licenses off the southern coast of the Falkland Islands, spokesperson Ben Brewerton told BNamericas.

The leads range from 211 million barrels (mb) to 626mb and could contain a total 3.75 billion barrels, Brewerton said. Each of the seven blocks has at least one lead in it.

FOGL identified the leads by re-interpreting 2D seismic work carried out in the 1990s and it plans to redo some of the seismic in December this year, followed by a 3D seismic program in 2005.

The company could then consider farming-in a partner to help fund drilling on specific targets in 2006-2007, Brewerton said.

To fund the 3D program, FOGL announced it has raised 10mn pounds (US$18mn) through a private placement of 25 million shares at 40 pence per share, FOGL said in a statement.

FOGL has announced a public offering of a further 5 million shares at 40p/share, which must be subscribed by October 12.

If the offer is fully subscribed, FOGL will raise an additional 2mn pounds before expenses, meaning that the net proceeds of the placing and offer will be about 11mn pounds. The company would then list on London's junior AIM market with a market value of 32mn pounds.

Dealings in the shares are expected to start October 14. KBC Peel Hunt has been appointed as nominated adviser and broker to FOGL.

FOGL was formed in May 2004 as a joint venture between Falkland Islands Holdings, Global Petroleum and RAB Special Situations.

Shareholdings in FOGL prior to the placing and offer are: Falkland Islands Holdings 28.9%; Global Petroleum 25.7%; and RAB Special Situations 45.4%.

FOGL has a 77.5% interest in seven exploration licenses covering approximately 33,700 sq. km. to the south of the Falkland Islands. Australia's Hardman Resources has the remaining 22.5% interest.

About Business News Americas: Business News Americas is a multilingual news and business information service that covers the most important original stories in 11 different business sectors throughout Latin America everyday. Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company

Falkland Oil and Gas Ltd said it placed 25 mln shares at 40 pence each to raise 10 mln stg before expenses.

The company, which expects its shares to begin trading on the Alternative Investment Market on Oct 14, also announces a public offer of a further 5 mln shares at 40p a share. Assuming the maximum number of shares available are subscribed, it will raise an additional 2 mln stg before expenses.

Falkland Oil, which holds a 77.5 pct interest in seven exploration licences covering about 33,700 sq km to the south and east of the Falkland Islands, will have a market capitalisation of 32 mln stg on admission to AIM and net proceeds from the placing and offer will be about 11 mln stg.

Following the placing, Falkland Islands Holdings PLC's interest in Falkland Oil will be 18.1 pct.

84p TODAY...MORE UPTREND AS OIL FIND IS IMPRESSIVE

NEW ISSUE: BUY - Falkland Gold and Minerals (FGML) at 40p.

FGML floats on Aim in the first week of December, its sister company Falkland Oil and Gas also floated at 40p on 13th October 2004, hit 59p on day one and is now up at 78p or 95% only 4 weeks later!! The public offer was so over subscribed that investors only received a tiny proportion of their application

You can't compare a oil expo company like FOGL to FGML.

not going to compare them but the process is much the same just letting people know of new float it might be of interest to some on the BB

FOGL share holders waiting for news

Great news coming on the way

hyleo,

Care to expand on that statement a bit?

80.5p now...will be going up further.

hyleo,

Well we retraced a bit after a terrific rise, but still an excellent day!

Would appreciate a comment on reasons for your comments, as you seem confident.

By all means use the private message facility here at AM if you don't want to post online.

hlyeo98 - here you are again - on all the nicest boards, of course - and Andy, as well - good evening. I subscribed on issue and got as small handful of these shares which I intend to hold very tightly through thick and thin, at least till the first gusher is announced.

Nice RNS about seismic work on-going, well timed to coincide for fresh testings of upper $40's per barrell - the old one-two to help put a bit of vim back in the SP.

Sven Lorenz set out an interesting thesis in one of hit teasers for his tipsheet - can't find it on my computer - got it somewhere. Anyway oil reserves have been well documented in Falklands since the 60's but only now when oil price seems set to stay in the $40 and above ($100?) rnage is it economical to extract and transport (it's a bloody long wagy to Goose Green - have you seen the map?)

It's going to be a rough old ride until drilling starts and then some. But the oild price should be in its stride as the first barrell flows I reckon. But look who's on baord too - Hardman from Oz, RAB special sits fund from London - they don't waste their time do they?

A bit like being at sea - very, very boring interspersed with moments of wild panic!

Ahoy me heartys (sorry starting to sound like Seadog, must remember who I am)

SD

Thought you might be intereted in this extract from Sven Lorenz (Special Situations Analyst for Fleet Street Publications) free email today. He first alerted me to the opportunities last October and I am in all three Oil, Gold and Holdings - first two at subscription price, third one - don't ask!! but holding nicely thank you. By the way Holdings is absolutely at top up fillyerboots level IMHO if you want more exposure after a recent large sale by director at weirdly low price 450p - what happened there I wonder . . .

"This week there's been news on two of the Falklands
Island shares I write about in this report but the real
fireworks are yet to come. All three shares on this
unique investment story are still beneath my buy limit
price but they won't be for much longer. Survey
results are showing positive signs and drilling could
well start this year drilling that could catapult the
Falklands into the league of major oil producing
regions.

When that happens, these companies and anyone who
invests in them at current bargain prices will make
serious money. I hope you'll be taking part in this
and some of my future investment ideas.

Until next Friday, all the best,

Sven Lorenz
Special Situations Analyst"

I also bought another of his tips today - he's always interesting and has a high reputation as an international n-bagger profit hunter. As ever DYOR.


SD

Stockdog,

Thanks for posting that, I feel FOGL is going to reward the patient in due course, but it will take time.

Nice little tick up today,approaching all time high again.

Andy
100% gain since floatation is a little better than "in due course" - or were you merely referring to the triple and quadruple gains we'll get when oil flows? I'm in till then at least.
SD

up again...86p

The RNS today may have helped. Doesn't say an awful lot, but puts the company back in the public arena. Also March oil back above $50 in NY, Brent close behind. Funny, I don't seem to feel the cold like I used to!

SD

RNS Number:9770I
Hardman Resources Limited
24 February 2005

STOCK EXCHANGE / MEDIA RELEASE

RELEASE DATE: 24 February 2005

CONTACT: Scott Spencer

TELEPHONE: Within Australia: 08 9261 7600
International: +61 8 9261 7600

RE: FALKLANDS LICENCE AREAS: UPDATE

Hardman Resources has been advised by the operator Falkland Oil and Gas Ltd
("FOGL") that it has completed recording approximately 85% of the planned 4,900
kilometre 2D seismic survey in their 33,000 square kilometre licence areas to
the south and east of the Falkland Islands (Hardman (22.5%) is in joint venture
with FOGL (77.5%)). The vessel "GSI Admiral" has moved temporarily to the
northern licence area where FOGL holds 100% and it is expected the Hardman
licence area data acquisition will be completed during March.

A preliminary review of the early processed sections of the lines recorded thus
far has provided further information on identified leads in the Hardman/FOGL
area and has also identified several additional leads which could warrant
further work.

Full processing of these lines will take place over the coming months.

The fully processed and interpreted results of the entire survey are expected to
begin to be available about mid year.

Simon Potter, CEO and Managing Director, Hardman Resources, commented:

"This is a continuation of our exploration strategy with a low cost entry into
frontier areas with known oil potential followed by high impact exploration
using seismic techniques. The overall indications from the data we have received
to date are encouraging. We are looking forward to completing the balance of the
survey and in due course fully assessing the results of this work."



SCOTT SPENCER
EXECUTIVE DIRECTOR

stockdog,

Yes, I was referring to the future, rather than the 100% gain we have already enjoyed.

Thanks for the RNS, seems positive in a vague sort of way, conservatively worded, which suits me.

To the future - well, said, Andy

Nicely up 4p to a new high of 87 bid against the trend today.

Whispers of announcements to come from HNR who own 30ish% of FOGL's southerly exploration licence.

Happy to balance a down day on DOO (not surprosing she stopped for a breather!)

SD

Holding on tight to FOGL. New high today