.

Or maybe a number of people heading for the exit.

Yes if YOU can't put up with the RISK's ,DON'T invest in the O&G sector!!!...Simples.

78p I reckon by the end of the day.

More Buys than sells,should be in first target area some time this week.

i think CHAR had a bit of a knock on affect on shares price today.

Yes CHAR will have shaken those who dont have the nerve, leaving a good opportunity to buy in / or average down for those that do.

The volume is extremely high, could it be bad news on the way?

The reason its falling could be in part to a lying shorter on LSE causing weak holders to sell up + the CHAR result giving a negative, and of course the MM's making the most of the fear and triggering stop/losses..
But still more buys then sells...

would someone please enlighten me as to the link between CHAR and FOGL - they are literally half a world apart

No connection whatsoever. If CHAR was affecting FOGL it would surely affect all other E&P stocks, which it's not. Some others are doing very well today with no news within their specific regions.

wow! never thought of that :-)

Drilling update in response to speculation and price movement

FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, is providing this update on drilling operations at the Loligo prospect following recent market speculation.

The well has been drilled to a depth of 3,900 metres and is expected to reach total depth ("TD") within the next 24 hours. Drilling operations are approximately five days behind schedule, principally as a result of having to run an additional string of casing in the top section of the well. No abnormal pressures have been encountered during the drilling of the well and all operations have been conducted without issue.

A further announcement will be made within the next seven days, once the well has reached TD and wireline logging operations have been completed.

Well this is certainly giving me the shakes

now i know why i am pleased i had the sense to reduce my holding by 2/3 - therefore annoyance and some pain likely, but nothing horrendous

sp now tumbling hard .... assuredly does not presage good news

Why is that a logical conclusion? The RNS doesn't hint at anything, intentionally. There is no good news, which presumably has got investors spooked, but it doesn't actually say anything apart from 'on target but a little behind schedule'.

What on earth was the point of that rns ?...

I think that they are obliged to comment if the sp moves more than a certain %age within a short time scale (up or down 10%, I think).

EDIT: I cannot find any direct reference to the above but the FSA have this rule:
"Market rumours - Where rumours are false or press speculation is groundless, a company is under no obligation to issue denials. Untruths can’t amount to inside information.
But where rumours or speculation are largely correct, the company needs quickly to decide whether it has inside information that should be released. Once news has leaked, delay can no longer be justified, and directors need to ensure that the market is trading on the basis of accurate information that is available to all."

No leaks of any good news at all.....drastic bad luck if they don't find anything at all...

No "abnormal" pressures have been encountered..

Still all to play for, its the shorters and the likes of cynics of this worlds thats making the hay well they have the chance and relishing the the thought of rubbing the noses in the dirt of the LTH's..

The fingers are crossed of course...

rf the point of the rns was because of the fall in the s/p! DOH!.

Char Did the same then announced a duster ........ I am afraid this is looking the same