.

i hold a relatively modest number as i have frequently posted ..... i held about double that number a few weeks ago but concluded that it was not warranted ..... i used the basis that if the share went to zero, as BOR attempted, then the loss would be acceptable ...... if FOGL hit a bonanza, then i have a nice base from which to build

Rig is on its way at the moment, as of now, 3:50am 1st August the rig is circa 144 miles to the south-west of the Loligo drill site.

Slow going at the moment, could take another 40 hours or so to get the Loligo drill site based on current progress.

Interesting close yesterday and open today, we saw UT trades at higher than mid price.

Indicates potentially a buyer is now in the market and the seller is turning the tap off perhaps.

Might be a few strong blue days ahead now.

Or might not.

Proselenes:

Trivial question for you!

On the share Trade Streamer......What doe's O, AT and UT mean?

Seems to be more sells than buys.......Albeit, the FOGL share is starting to rise!

I was going to buy last evening, but bottled out........Should have bought?

In simple terms...........


An O trade is a manual trade, where you engage a broker to buy shares for you.

An AT trade is an Automatic Trade - so if you ask the broker to buy 20K stock for you, you might see a sudden rush of 5 AT trades for small amounts, and then your O trade for 20K.

This means the broker put into the system a buy for 20K, the stock was hoovered up and then sold to you at the price agreed. AT trades are run by computers based on the desires of orders from brokers/fundies etc...

UT are Uncrossing Trades - these happen during the opening and closing auctions and at auctions at any other time of the day. People can load buy and sell orders at auctions and the price of the trade at which the auction closes is reported as a UT trade along with the amount of stock agreed to be sold/bought at that price.

This is why UT trades at higher than mid price are a bullish sign, as it means there are more buyers than sellers at the auction - so the trend is therefore with the buyers and so if you see a stock have UT close and UT open at higher than mid price its a sign the stock might be going upwards.

Conversely if the UT trades are below mid price - its a sign there are more sellers than buyers.

Thank you very much for the explanation........Stops me scratching my head wondering what the letterings meant.

Still fascinates me when I identify more buys than sells.......Yet the price of the share goes down, and via versa?

Waiting for the FOGL share to pull back a little, then I will buy more........I have managed to average my share to £0.65 per share........Still working to get the average down further........Blinking hard work!

Gerponville18,

Proselenes gives a good, clear explanation, but if you want to know more re trades and codes, click on help at top right hand corner of this page and then go to the trades link.

regards Greek.

Looks like we are off the starting blocks.

Buyers starting to come back.........Must be because the "RIG" is getting nearer.

What will happen when the drill starts to turn?

Imo, the sp will drift once the spud has happened. About 10 days before TD (target depth), investors will then start to buy back in ready for the news.

FOGL have intimated they may RNS after each and every target zone, meaning 5 RNS with the last one being TD.

Not going to be a very clever strategy of waiting for TD, might be 4 RNS out before then with T1, T1 deep, Trigg and Trigg deep results, before that last one Three Bears and TD.

Going to catch lots of traders out here as they will never be able to predict when an RNS is coming.

Might be 5, might be 4, might be 3, could be 1 - nobody knows but the board have intimated there could be multiple updates as each and every target zone, if a strike, is company making in its own right and therefore price sensitive.


HARRYCAT - 01 Aug 2012 14:12 - 1106 of 1106
Imo, the sp will drift once the spud has happened. About 10 days before TD (target depth), investors will then start to buy back in ready for the news.

Got to agree with you Proselenes regarding the company intimating that they'l RNS each zone, can't see them holding back any news with just one or two RNS with there been five game changing prospective levels....

You are possibly correct, but so far, neither RKH, DES nor BOR have released any news before the drill had stopped and the samples were being sent away for analysis. I can't see any reason for FOGL to be any different and I can't see any reason for them to continue to issue RNS which will have no material effect on the sp. Of course, if they have difficulties and drilling is suspended for any reason then I can understand keeping investors informed.
Previously, lots of hype up to spud, followed by weeks of nothing when the sp has drifted down, followed by lots of hype leading up to TD and sp surge.

Harry, all previous wells were targeting a single main target. Other secondary targets were small, not company makers.

For FOGL there are 5 individual company makers in the 5 targets of the Loligo well.

Ultimately it is up to the board of directors how often they update. FOGL board have intimated up to 5 RNS (one for each target) as opposed to a single RNS.

Would like to see another strong closing UT trade after the auction today.

I agree with Harry on this as most of the drills by DES and RKH had dual targets when drilling, just look at drill 14/15-a Beverly, shone, Caspar then sea lion main Fan.

4 Prospects were drilled and only one RNS to confirm findings.

PRO makes it up as he goes along.

I said this morning should be a blue day, and it was :)


Proselenes - 01 Aug 2012 08:16 - 1097 of 1112
Interesting close yesterday and open today, we saw UT trades at higher than mid price.

Indicates potentially a buyer is now in the market and the seller is turning the tap off perhaps.

Might be a few strong blue days ahead now.

Harry, the spud RNS will be the giveaway.

If they say "a further update will be made when drilling operations are complete" then you can expect just 1 RNS at TD.

If they say "a further update will be made in due course" or words to that extent then get ready for a few RNS along the way.


Not too long to spudding now, and all will be revealed.