.

area may be bigger, but does that actually increase the chances of finding lots of oil? ..... bit questionable i would have thought

They have as many prospects as the whole northern basin put together.....quite incredible and big ones...and small ones...all different in a marine environment ...not a lake like the sealion discovery.....the area including the various prospects is enormous !....and if Loligo (a main prospect) is oil......I would suggest £15 the sp would soar to...and I'm not joking !.

if and when!!!!!!

Answer on the other blog....it's risky Cinners....that's for sure....but what about RKH,GKP,TLW,BUR.....all fantastic .....it was a risk at the start.....

and i didn't buy any of them at the start ..... why this desperation to try to get in at the basement?

rf
I too like a punt now and again but in this case I have de-risked by going with FKL who have a 5% share of FOGL. Irrespective of which exploration company finds the black stuff the onshore side will be almost entirely to the benefit of the FIC so to my tiny mind it's 'win-win'.
The small FOGL holding that I do have I bought three years ago and it should wipe its face.....
I don't hold BOR because I'm not sure about them --COS10% seems worse odds than the nag that came home on Saturday!

5%....well...is that risky...? perhaps FKL will rise by a much larger percentage if and by when they do discover something....not a bad idea....I have a risky position in BOR but four times as many in FOGL.....due to a dozen leads by that company....as I cannot watch the internet all the time (today, I've watched a lot)...but most of the time I have other work commitments...so I miss out on many opportunities....when XEL dived : I missed the start and got caught out badly so I have to get in and sometimes out ahead of things... I'm getting stuffed on Tesco at the mo.....for once I ventured ouside the oil sector....will not go up the blinkin' thing...

I know where you are coming from rf. I felt a bit like that guy in the advert who lost his shirt at the casino, when I sold DES at a big profit and reinvested the proceeds in something dividend-producing and safer, of course. Lloyds. :)

Invest in something sensible and you lose your shirt....crazy isn't it....I hoping for a turnaround for Tesco.....went to one of their stores the other day and it was packed.....the 10p petrol discount plus £5 shopping coupon must doing the trick....anyway coming back to the "foilkies".....there's going to be some serious excitement here soon....for good or for worse....four wells minimum, so.....fingers crossed....

Old men are scared of risk, its that simple. They are not making new money and if they lose their pot they cannot replace it. So they are very very scared of risk.

They want the reward, but are unwilling to take the risk.

So while people, like me, who like to take risks, can make on say RKH from 38p upwards, the others will be buying in and out all the time and making 10p out of every 50p rise. I make the full 50p, they get maybe 10p.

I am making lots of new money too, so if I lose some on a risky punt I do not care - but old people cannot make the new money, they have to always ensure they do not lose any of their capital.

News from BOR should be 1st or 2nd week of March...... not long now.

Pro
I fall into what you might call the 'old men' but still earn a meagre crust as a consultant. The point you make is probably quite valid in some cases but you conveniently overlook the fact that 'old men' who play the market are doing just that - playing the market with spare money and their already accrued capital wealth is securely put away out of reach of HMRC for future generations.

I'm delighted to hear your comment above that "if I lose some on a risky punt I do not care " but would respectfully re-emphasise the old adage about "a fool and his money are soon parted"

avsec :)

But you will also see most of the richest men in the world today all took big risks early on, unless you take big risks you will never make big money.

If you lose the money then you are a fool, if you win you are the same person, but called a maestro, not a fool. :)

I am in the Avsec camp, being relatively old and entitled to my bus pass. Note- "entitled" but in the interests of public finances(and a lack of buses round here anyway) I haven't bothered picking it up.

I do dispute PP's assumption that old means no risk. All things are relative- if I weren't into taking sensible risks I wouldn't be bothering with FOGL/BOR.

As a pensioner, I still take many risks in life, taking part in motor sports, IE I still race Ferrari single seater racing cars and Mini Coopers, just as one example (and I still beat a lot of the 20/30 year olds, much to their suprise).
We all die, my biggest worry is dying peacefully in bed.

But I do sort of agree with Pro (perhaps it came over a bit different to what he intended) that the older you get 'in general' you do tend to take less risks with money.
Luckily I am on a decent pension, but I do have far less of my money in high risk investments than I did say ten years ago.
If I did not have my pension, no doubt I would trim my risk percentage very much downward.
It would be stupid not to.

Coeliac,

You actually get a bus. Lucky you.

http://en.mercopress.com/2012/02/17/uk-analysts-says-falklands-oil-industry-could-be-worth-180-billion-dollars-in-royalties-and-taxes


"............According to Reynolds the Southern Basin is totally unexplored but the largest prospect in that basin, Loligo (being targeted by FOGL), contains estimated resources of 4,700 million barrels, making it the largest drill target anywhere in the world in 2012 and over ten times the size of the estimated gross 448 million barrels discovered to date at Sea Lion.

But, according to Reynolds there is more to be had in the Falklands than just a speculative punt on exploration drilling.

“The Falklands offers a bit of everything for investors at the moment,” she said.

“Rockhopper provides relatively low-risk development upside, while FOGL is the most compelling of the exploration plays, although Borders and Southern remains very attractive”.

The analyst also says that while Desire Petroleum and Argos Resources are less attractive at the moment, with no near-term activity, both companies could still benefit from regional euphoria in the event of 2012 discoveries."

For anyone who has not read the Edison Falklands write up.

http://www.mediafire.com/?2k3td4ffx531a76

.

Thanks PP. Big tick to you for putting the research up. All very exciting with a lot to play for.

Well Pro got it wrong with RKH selling at 300p so he say's, and now he is wrong with old investors and risk , a lot of us own our own house's and have final salary pension's and made a lot of dosh in the stockmarket while he was still in nappies.

Mind you I did have some big loses when the dot com bubble burst , funny thing is it was a blue chip company GEC that i lost most on.

aldwick. I sold RKH at 300p and it went down to 170p.

How can that be wrong ? Especially as I got GKP at 120p and been selling at 350p+.

LOL :) All the time (a long time) it was below 300p I was making money elsewhere. Had I kept RKH until now I would have made a lot less money than I have now on other stocks instead of RKH :) !!


coeliac1, I like the Edison report, it confirms what I have been saying that all the new work means Loligo and Scotia are 20% Chance of Success.

Been a lot of liars posting its only 10% CoS on other web sites.