.

Not much meat on the bones of the RNS but one thing for sure it looks a monster of a gas find

With BOR finding gas also FOGL in huge quantities this opens up the SFB as a commercial area without doubt.

This is one of the reason FOGL has attracted the partners it has which have the knowledge and money to move this project on.

Spot on Marky.....the big boys that have climbed onbooard know what they are doing should get back to 80p or more soon......perhaps 90p by end of week....(should be 190p)....but there you go...

and doubled-up at 71.5, so probably 1/2 to hold for now and 1/2 to trade ...... order book very strong, but that can be misleading as we all know

That may be correct rf, but in that case why isn't RKH sp up above the £3 level (or at one point £5) when we know that they have oil? Surely it's all a matter of time scale? There is going to be the initial euphoria when the drilling results come in, but many investors are not going to wait around for the field to be developed. The hot money will be back when FOGL next drill, but oil was what we really wanted here to get the sp to rocket, imo. Gas is much better than a duster, but the oil field isn't getting any bigger, which is a leaving RHK with the only oil discovery.

Harry Desire also hit oil

But that was the corner of the same field as RKH has, if I remember correctly?

Harry

The 14/15-4a farm-out well proved the southern extension of the Sea Lion and Casper discoveries and encountered hydrocarbons in the Beverley and Casper South (Shona) reservoirs.

So, yes to my question then!

Same field but diffrent targets so yes

Take 50% of your profit and watch the rest.,.

I haven't got much of a profit yet.....to me all zose zat zell now zhould be shzot at vonze.....

funny how pro is very quiet now, suppose he's resting before the next drill.,.

Bottom line is good result.....better if it had been oil but opens up other large potential discoveries in the basin : verdict : undervalued by a mile !....

great result the uk needs gas big tme we now have a chance to buy and take over that find . would give the uk 20 years of gas a least. .

Summary comment :

http://boards.fool.co.uk/the-eastern-falklands-basin-has-the-potential-for-12641941.aspx

.

Which just coincidentally, is a link to your own article on another board, which of course, you accidentally forgot to mention!

very astute of you harry ;)

Next up Scotia well.

1 Billion recoverable barrel target (expected 32 API oil).

Sits above OIL source rock.

Class 2 AVO (Loligo was Class 3).

Derisked by the results here and proven source rock potential. As I said many times, Loligo expected to be gas.

Scotia is expected to be oil. - Its now derisked.

P - you said a great many things many times, many inconsistent with one another and/or earlier ones

http://www.oilvoice.com/n/FoxDavies_Daily_Monitor_Falklands_Oil_Gas_Borders_Southern_and_Bowleven/e44d26b3bcb6.aspx#ixzz26iZNrVjc

FoxDavies Daily Monitor - Falklands Oil & Gas, Borders & Southern
Monday, September 17, 2012

Falklands Oil & Gas (HOLD, 100p) (FOGL LN, 67.25p, ▼ 0.00%) - Gas, Gas Everywhere…: While we are told that there are strong gas shows C1 to C5, we are not told the proportion of the overall sample that this constitutes, and hence it is not possible to postulate as to the nature of the stream. However, on the basis of BOR's Darwin results, it suggests that it is quite high, which means that will be disappointing for investors.

There is a silver lining, however, for both FOGL and BOR. If the gas find is significant, and given the "relative" proximity of the fields, there could be a possibility of pooling the processing facilities, if only the Falklands Island Government would allow processing on the mainland. Certainly the extent of the gas would make it a worthwhile venture, as overnight it would make the gas finds more likely to be valorised. Ultimately, on the upside we believe that there is likely to be more liquids in this accumulation, but as with BOR' gas condensate find, the volumes of gas that would have to be processed to process a liquids stream at commercial rates, even if it is re-injected, means that a commercial development is by no means a certainty.

The Company is well funded, still has a lot to go for in the basin, and given the success with the drillbit, we believe that the risk profile has reduced somewhat. Scotia is next, the ~1bn bbl prospect, so there is still at least one more well. Given that this is further out of the basin, the chances for intersecting a more liquids prone accumulation is higher, as liquids are the first to be driven out of the source rock and theoretically travel further through the reservoir sandstones, albeit slower.

On the back of this news, and ahead of the liquids sample results, we are reiterating current 100p Target Price, as the fact that it is gas is offset by the potential scale of the discovery, and HOLD recommendation.