.

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

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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.........

whatever you say ..... you may genuinely believe gas is good news - you did with BOR if memory serves me correctly, and we all know what has happened to THAT sp; even a few others may believe you; but my money says gas will be little better than nothing

One only has to read the RAB note I linked to earlier - this is the major shareholder in FOGL.

They say, to quote them :


Conclusion

At the time of writing the Fund has recovered nearly all the losses of July as the market has renewed confidence in FOGL, as at the 9th of August, the Fund is up an estimated +9.3% ($ Class). We share that confidence and anticipate the first newsflow in early September. And across the portfolio many of our investments are continuing to develop their assets despite this not being reflected in valuations by the market, which remains bearish. We look forward to an exciting last four months of the year and thank our investors for remaining invested with us.


EARLY SEPTEMBER. Exactly as I am saying, first update will come once T1 and T1 deep have been drilled - then the drill will head down to the next 3 targets.............. :)

of whatever value RAB's opinion is, i do not see any mention at all that even they think that gas would be a (every bit as??) good result for fogl ...... or indeed any mention at all of gas

cynic - do they or do they not say "4.7 bboe"

BOE means gas you muppety mup.

If they meant oil they would say "4.7 bbo" - if they say bboe it means gas or mixture of oil and gas.

You need to study about oil stocks a bit more cynic :) LOL

79 meters then 640 meters then 800 meters and it casing point at which they will test any T1 or T1 deep discoveries, then casing and drill the final 1192 meters.

So how long does it take to drill 79+640+800 meters ? Not too long with a large drill bit.

Early September is spot on for T1/T1 deep news.

No one is going to be pleased to see gas that's a cert, proselenes can dress it up all he likes, but anything other than oil, the SP will tank.