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.

Holding on tight to FOGL. New high today

What's with FOGL - up 9p today to a clear new high. Holding tight.

hlyeo98 - it seems like a good year for you so far - FOGL, BFC, DOO - me too!

SD

Another 8p higher - 17p total - still no news, except oil @ $53 per barrell. 2.5 X float price and not a drilling barge in sight yet - what will it be worth when they start drilling?

And not a soul out on the boards - where are you all? Counting your money???

SD

stockdog,

yes a terrific day for FOGL holders, and hardly a comment here!

no news (YET) to justify the sudden increase, but someone must think they know something!

I top sliced and let the profit ride, along with quite a few others probably, so stock may well be scarce IMHO.

There was an oil analyst interviewed this morning on CNBC. He talked about 2 companies, BUR and FOGL so might have something to do with FOGL's rise today.

Stockdog, I think there is some news not announced yet for FOGL...It will ride higher

Up 14p now...going higher

Have taken out my original cost of investment at 3 X what I paid for it, leaving the rest to ride - being sensible for once.

Well done, stockdog. Good luck on the rest

Well done, stockdog. Good luck on the rest

Hi u769869

Thanks for your email. Cant email you back as you didnt give me your email address so I'll just post here. I posted the following on TMF last night in response to a question, hope some of it helps answer your question.

This morning on CNBC, there was an oil analyst being interviewed with regard to the small cap E & P's. I didn't catch his name so can't help you there. He gave a very brief overview as to how the small cap sector works and the importance of drilling to shore up reserves.

He mentioned 2 companies that he liked, BUR and FOGL. Talked briefly about BUR's operations and then FOGL's. With regard to FOGL, he talked about 2d seismic having been shot in the Falklands at a cost if I remember correctly of 12m, which was paid for by the founders of the company. On screen, they brought up the usual charts showing the sp progress over the last few months for both companies, so perhaps that interview had something to do with FOGL's rise today.

Hope some of that helps.

Cheers

Gav

Hi Gav - thanks very much for taking the time to reply.

All the best
John

Huge rise today.

Interesting to see whether we breach the 120p peak this week, which otherwise will settle in as an established reistance level.

MMs seem happy to offload some of their stock at this recently elevated price, judging by the consistent solid buying ourweighing smaller sells - suggests after that is done to their satisfaction they may be happy to let the price drift downwards again, followed by a bit of a tree shake to rebuild their stocks prior to the next significant news (there can't be that much other than regular progress and the occasional seismic report on the new licence area before drillng gets underway) of the next hike in oil proces above its $55 level recently regained.

Having sold my initial stake's worth at the peak, I am quite content to catch a re-buying opportunity below 100p, before the next ascent to new levels.

So another one to watch and wait - like so much at present.

SD

I do not think FOGL will slide below 100p.

Happy if, happy if not - in general, quite happy!

SD

I note their partner Global Petroleum Ltd (LSE: GBP) (GBP owns a 16% interest in FOGL) started trading on LSE AIM last week.

Bear in mind GBP also has a 20% interest in the blocks that Woodside Pet are going to drill this year offshore Kenya and that drill costs to GBP are fully funded.

Could this be the next 3 bagger on the heels of FOGL!!

GBP's fallen off a cliff from listing at 44.5p on 7th March in a straight line to today's close of 26.5p - what went wrong, or did KBC Peel Hunt just get the pricing wrong?

Any thoughts - should we stand and watch for a while, or should we be filling our boots with an obviously interesting company?

SD

FOGL has broken the 120p barrier...now 125p...its next target is 140p.

and BFC have broken 300 and DOO have broken 500, hlyeo88 - very nice to see.

now all we need is SEY to get of its fat arse too.