.

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.........

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.

cynic takes his monacle to extremes, needs to take an optimist pill or 10..

Or better still sell his imaginary holding...lol

GB - not calling me a liar i hope, for that would be unbelievably stupid of you ..... but why do i need to take an "optimist pill"? ....... the pair of you can burble on as much as you like, rather as did mr micawber ..... my own call on this stock, as i have previously posted, is to sell most before the result - i.e. when, with luck, all the lemmings are leaping on board in blind hope ..... if it means taking a loss because the market persists in refusing to believe unproven hype, i am also perfectly prepared to do that

I'm with chuckles. The market wants oil. In the short term, anything else will see the sp tumble.