.

i confess i have never ever squelched anyone, no matter how obnoxious

I agree Proselenes is not GB. I remembered once that pt accused me of being someone else. And I think if you agree in opinion with someone he does not see eye-to-eye to, he will accuse that you are the same person.

no doubt that is why no one has ever accused me of being someone else!

Cynic sometimes I think your Richard Wilson aka Victor Meldrew!!

I just dooon't believe it....

I wouldn't knock Pro's posts, I read them, Pro to me seams ever the optimist, nothing wrong with that in my book. His research is a good place to start discounting from adding a real sense of risk into the investment.

Pro might win an award for ramper of the year, but hes not yet in the league of Edison. If his posts have in anyway made someone invest money which they have then lost then more the fool them and a sharp lesson to be learnt. I've yet to read a post I regarded as a FOGL sales pitch also.

ptholden has in fact never put in any good researchs or facts in his postings.

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As idiotic as ever hlyeo, how's justyi? Still spouting the same crap as crap or has she been retired from active duty?
I have to admit you accusing anyone of not posting research is about as hypocritical as it gets, all you've ever done is copied and pasted, which isn't research or stated a stock is going up or down without any given thought behind the claim, invariably you get it wrong. Do jog on silly girl.

One of the exciting things I think about Loligo is when you look at the drill location to the actual targets, and appreciate the drill hit the very edges.... well.

Rightly or wrongly most people consider P10 to be the big area, 10% chance of it being good. P50 to be a smaller area than P10, but with a 50% chance of being good and then P90 to be a very small area, with a 90% chance of being good.

So, putting that into Loligo drilling location, well they appear to have hit all reservoirs in the P10 location, well away from sweet spots, right on the edges.

And yet they have net pay, albeit marginal and they have strong gas shows of C1/2/3/4/5.

If you assume therefore that the pre-drill P50 of 4.7 BBOE recoverable (25TCF recoverable dry gas basis) and assume the actual is going to be bigger than P50, but perhaps a tad under P10 and then you add on T5 additional reservoir which seems thick.........and was not in the original estimates because nobody knew it was there............

You can easily see why some people suggest Loligo could end up over 30 TCF recoverable or even over 50 TCF recoverable in size (circa 5 BBOE to 8.5 BBOE recoverable).

The market chooses to give no value - fine by me, if it can continue to assign no value for Loligo for another 9 months I will happily add more and wait for the Loligo update once 3D is done and processed and integrated with other data for a nice "Loligo" update sometime 2nd half 2013.

Proselenes: Are we saying that it will be well into 2013 before we get any feedback (RNS) on the Loliigo samples / data?

Gerponville, most surely.

2nd half 2013 is my estimate. There is no point giving any update until the 3D is done and processed and integrated........... so 2nd half 2013 imo.

You have to remember FOGL are fully funded, they do not need to raise money. So there is no need to shout and scream about the potential, or rush to do anything.

Its only companies in dire need of fund raising who rush and then shout and scream........... ;)

ptholden, I didn't criticise proselenes. He did good research and u should be proud of him.

hlyeo if its not in a ABC book i find it hard you could read it let alone understand it

Some info as until they get fluid samples Loligo could be "wet gas" or could be "condensate" discovery.

http://www.fekete.com/software/feketeharmony/media/webhelp/HTML_Files/Reference_Material/General_Concepts/Reservoir_Fluid_Types.htm

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As the title suggests........One for the Gamblers (Daily Mail)!

SHARE TIPS - ONE FOR THE GAMBLERS: Oil and gas exploration company making a return By Graeme Dickson, Market Trader At Optiva Securities
PUBLISHED: 15:54 GMT, 26 September 2012 | UPDATED: 15:54 GMT, 26 September 2012
Comments (0) Share
‘If at first you don’t succeed try, try again’ so the saying goes and this is particularly appropriate for exploration companies continuously looking for resources, missing the perfect drilling spot and having another go somewhere else.

No doubt many high risk oil investors on the AIM market will have come a cropper over the last year with big share price falls from the likes of Borders & Southern (BOR), Chariot Oil & Gas (CHAR) and Petro Matad (MATD) to mention a few, following announcements of dusters or high concentrations of gas, of which the world seems awash with these days.

A company that has also experienced its first exploration disappointment but following the recent share price fall now has more than half of its market cap in cash and has excellent high-risk exploration upside is that of Falkland Oil & Gas (FOGL):
Share tip: Graeme Dickson says that Falkland Oil & Gas is definitely one for the gamblers
Falkland Oil & Gas (FOGL) explores for hydrocarbons in the Southern and Eastern basins of the Falkland Islands and has recently drilled at the Loligo well where it encountered gas, but not the liquid condensate type that its peer Borders & Southern discovered and as a result the shares were sold off.

Analysis of the results is being carried out before making the decision to drill a second well at Loligo.

In the meantime the drill rig has been moved to Scotia and yesterday it spudded (the drill pierced the surface of the seabed). The well is a mid-Cretaceous fan prospect at a target depth of 5,000 metres, which is estimated to contain 1.092 billion barrels of oil (if successful).

FOGL has a 40 per cent interest in the licence and operations are expected to take 75 days. Its partner in this well is Noble Energy, a US $16billion company who will pay for 60 per cent of the drilling costs plus US $25million (£15.3million) to FOGL and pay FOGL for 60 per cent of the costs it incurred during 2011.

Now here is the crux of the idea. If successful, it has been estimated by analysts at Mirabaud that Scotia could be worth 300p a share.

If the well is a duster, then, given its 40-42p in cash per share, the downside, in theory, is about 40 per cent in the near term. Should it be successful and goes to plan then potentially you have 330 per cent upside. It is a real gamble and the probability is that it will be a duster.

Alternatively you can wait until the news comes out but if oil is struck, expect to pay a hefty premium amid some uncertainty of timing if the stock encounters a strong spout of profit taking. Of course if its gas or a duster then you will probably be as pleased as punch that you watched from the sidelines.

Even if Scotia is unsuccessful FOGL and its partners still have the Nimrod Complex and the Vinson prospect in the Tertiary Channel Play, the Hero prospect in the Mid Cretaceous Fan Play where Scotia is and the Inflexible or Endeavour prospect in the Springhill


Read more: http://www.thisismoney.co.uk/money/midasextra/article-2208975/SHARE-TIPS--ONE-FOR-THE-GAMBLERS-Oil-gas-exploration-company-making-return.html#ixzz27eWtr7j5
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Gerponville I i think that artical about sums it up.

Post 2077 -"So, from today, a Scotia duster will see the share price down 50%. A strike at Scotia and you should be looking at 800% rise given the complex which houses Scotia."

Still not seen anything to back up a 800% price rise if Scotia strikes oil. A potential 300% upside as above is more approriate I think with a chance of success being around 16%.

I'm sure the optimists here will disagree..

I thought you are a oilman, marky.

Hi shortie,

I like to think I am a realist, or at least I try to be, so being as practical as possible and thinking with the head, not the heart, I agree re the success rate of around 16%.
As to a 300% sp rise being more practical than 800% on an oil strike I think it all depends on several issues.
1 The political climate in oil producing countries, especially Iran.
2 The state of the Eurozone, (yes it can only get worse).
3 The type, size and quality of the discovery.

1 and 2 could easily become worse than at present within weeks, never mind a couple of months.

3 of course will be the cruncher.