.

Thanks to durby on III.

FOGL have tendered for a semi-submersible to drill one to two wells from 1st October 2012 - looks like Noble/Edison want to drill more than just Loligo and Scotia.




.

Thanks to Waffler on II.

Apparently the chap in charge of the drill just wiped his backside. Further details to follow.

lucky he remembered to use his left hand and not the drill head then!

Probably justifies an RNS.

re td?

no re - rsol

I have been saying I think there will be a strong bull run Sept to Dec 2012, the same as there was in 2010 (just look at the FTSE AIM All share index chart for 2010).

This now confirms the potential is there, Hedge funds are now closing their shorts, and when Hedge funds start to do that it means that they see a bull run coming and are preparing for it.

A bull run from Sept to Dec would be perfect timing for some FOGL drilling results... :)


http://www.bloomberg.com/news/2012-08-12/hedge-funds-capitulate-on-european-shorts-at-fastest-since-2009.html

Hedge Funds Capitulate on European Shorts

By Alexis Xydias - Aug 13, 2012 4:03 PM GMT+0700

Hedge funds that base investment decisions on economic trends are unwinding bets against European stocks (SXXP) at the fastest pace in three years, speculating policy makers will step up the fight against the debt crisis.

The degree by which macro funds are trailing the Euro Stoxx 50 Index (SX5E) is narrowing at the fastest rate since 2009, a sign managers are covering short sales by buying shares, according to data compiled by Bloomberg and JPMorgan Chase & Co. The proportion of shares on loan in the Stoxx Europe 600 Index, an indication of short interest, has fallen to 2.9 percent from 3.4 percent in May, data from London-based Markit show.........................................

for once i agree ...... the markets in general look to have a definite to strong upward trend, currently led by dow ..... overall, sentiment perceives that this extended and deep recession may finally be turning, and of course markets are (nearly) always ahead of the game

This is the FTSE AIM chart for Sept 2010 onwards to May 2011. I think we are going to have another re-run of 2010 end of year.



.

If that happens not only will all shares be going up, but those with big good news will now react very strongly upwards - as opposed to weakly upwards in a bearish market.

Some info on FOGL in the latest RAB update.

http://www.rns-pdf.londonstockexchange.com/rns/2106K_-2012-8-16.pdf

.

and sp has become very jittery again because .....?

because.............volume is pathetically low as its summer holidays and things will only start picking up once we get into September............ ???

Worth the wait........Hopefully the big boys will enter with a little venom........And then, BINGO...........Will there be Oil.......Gas.......Fresh water!

let's be honest ...... rationalise as much as you like, but sp is jittery because the market fears that loligo et al will also produce nothing of commercial value - that means fogl needs to find oil and ONLY oil; gas will not be of interest

because i am such a lazy bastard and can't be bothered to look back, please can someone remind me when fogl are supposed to reach td or something else of significance

This RNS was dated 6th Aug 2012:
"FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, is pleased to announce the Loligo exploration well 42/07-01 was spudded on Friday 3 August 2012. The well is located approximately 200 km east of the Falkland Islands. FOGL is the operator of the well, holding a 75% interest, together with its joint venture partner Edison International Spa, who hold the remaining 25% interest in licence PL028. It is the first of a two well exploration programme using the Leiv Eriksson semi submersible drilling rig.

The well is designed to test the Loligo Complex, which is a large Tertiary aged stratigraphic trap with multiple reservoir objectives.

It is anticipated that the well operations will be around 60 days.

thanks harry ..... i'll put a note on my board

No problem. I have a feeling that w/c 17th Sept will see the start of the hype (pump & dump) fever, which should make the sp even more volatile than usual!

LOLOLOLOL

Thats got to be the worst deramp of them all. Loligo, if gas, would be commercial on gas, in fact if you read every broker note they say

Loligo 4.7 billion BOE

You know what BOE means ?????? It means GAS GAS GAS......... thats why its "Barrels of Oil Equivalent". BOE


LOL - every (intelligent) man and his dog will be buying on gas or oil find........ but I guess you will be selling you "imaginary small holding" will you cynic....... LOL


cynic - 17 Aug 2012 11:16 - 1261 of 1265
let's be honest ...... rationalise as much as you like, but sp is jittery because the market fears that loligo et al will also produce nothing of commercial value - that means fogl needs to find oil and ONLY oil; gas will not be of interest

Well operations includes P&A, which takes 14 days.

Drilling operations is only 45 days (please read the EIS).

However, they have lost a number of days due to a big storm passing through.

They also have not said at what time they will update on progress, could be 1 or 2 RNS before they get to TD at circa 45 to 50 days (due to those lost days).


..........It is anticipated that the well operations will be around 60 days.........