.

no comment has been required once fogl showed that it was indeed a cuckoo

In fact I bet you lot that some sort of rebound will happen for the falkland stocks ......nothing spectacular but a rebound still the same.....

SP managed just to get on positive territory at the end of the day

The Slow Stochastic on the 2 days candlestick chart is at bottom, maybe tomorrow is going to start positive with a follow through then.

.

Final summary thoughts at the end of the drilling, thought I'd do one having written so much during the past 12 months.


ARG - most overvalued Falklands stocks - tiny amount of cash and very high share price/market cap. Is going to have to raise money, meaning dilution of some sort, I would guess farm out and placing. Wait for the placing before buying in - FOGL was around 65p and then dropped to 43p for the placing. I'd expect a similar 30% to 50% fall in the ARG price when any placing happens.

DES - aster, say no more.

RKH - looking cheap but its a long term one - anyone suggesting putting money into FOGL and "waiting a few years for next drilling" is mad, if you are doing that then stick it in RKH.

BOR - low on cash, a questionable commercial condensate discovery (as condensate is expensive to develop thanks to the need for dry gas reinjection - you cannot just produce condensate like oil). The whole SFB is now questionable as to whether it holds any oil at all - might all be gas and condensate. If Noble/Edison are committed long term to the SFB there might be a farm out imo, if there is a lack of any farm out it means the industry is not interested and BOR will have to raise money by placings (again) if they want to drill more, that means share price weakness for a long time to come.

FOGL - not in a good place, two wells in the East Falklands have delivered 2 very bad reservoir formations, on top of Stebbing also finding very bad reservoir. Loligo update (and that was really bad reservoir where not even a puff of gas come out) will not be until Q3 2013 imo. Short term the only news is the "source rock samples" from the Aptian at Scotia, thats in Q1 2013 and that could be very bad if the source rock is deemed only to be mature for gas, not oil.

At the moment there is a lot of "dead cat bounce" ramping of FOGL - telling people to buy for the long term. These people have been buying at 30p to 32p - they are looking for a 10% rise to 33p to 36p level at which they will sell the lot. Same happened with CHAR which recovered a bit and then fell back as those saying buy now, sold the moment it got up a little.

All I would say is be careful, ahead you have imo :

Q4 - no news
Q1 2013 (late) news which might say oil possible, or badly it might say "no oil" in the license area.
March 2013 - Tax year end selling - lots of losses to be taken for CGT.
May to August - summer doldrums where AIM generally has a bad time and falls.
September - chance for Loligo news and seismic news.

For me I am not writing FOGL off, but I am not holding. I will wait for news from the source rock samples in Q1 2013, then if thats bad then I lose interest (as may Noble and Edison) if its good then I will wait for tax year end selling, summer doldrums and buy some FOGL July 2013 ahead of 3D news, but only if the Scotia source rock samples are good, if they say gas I will not bother.

There are too many other good potentials for big gains out there to lock your money in FOGL for a year or more and miss out on many other things.

Just imo - signing off from FOGL now, finally.

Think I told you he sold out when it was 94p.... then it was bull S*** from then on to keep you all in......

Lol - if you compared prorampers (hopefully) final comments on all the shit he posted whilst ramping each and every one of those stocks you'd soon be able to judge what a hypocrite this guy is. I thought gas or condensate was supposed to be a brilliant game changing discovery? What a complete knob head.

BB, he got caught out in the flash crash after CHARs duster and sold at best flat and at worst with a big loss. Couldn't happen to a more deserving ramper.

Cue his alter ego grannygirl to dish the abuse :)

It means he trying to knock it down to buy back.....Loligo is a major gas discovery....the trouble is that it is oil the market wants at the moment....plenty of other targets but there is now a year to wait at least.....well financed...to me the stock should hold up well but they need to find available drilling rigs to continue the exploration down there.....not easy...

Loligo is a major gas discovery ...... ?????? who says?

Loligo is uncommercial and found only thin sand.
Required field, you are totally misleading.

thats not wot i calll im.,.

To me it promises to be a big discovery but they have to redrill....I shall read the rns again...

promises is a very dangerous word, as you should have learnt from Proramp

To all the posters talking about .......... Proselenes

"You have hit the nail on the head."

>>>>>>>>>>>>
Some may say his way of talking depend on which side of the bed did he get out of

but others think is due to .......... the stocks being on his PORTFOLIO or not

certainly dead money at the moment.

I agree with you.. for once.

3D Seismic Survey Commences
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 provide the following update in respect of 3D seismic operations.

The PGS M/V Ramform Sterling has commenced a 3D seismic survey over the mid Cretaceous Diomedia fan complex within the southern area licences. The survey will cover a minimum area of 4,000 square kilometres and is likely to take approximately 4 months to complete. This survey will be operated by Noble Energy Inc.

The original plan was that the Diomedia survey would be acquired later in 2013. However, due to the late completion of the Scotia well, there has been insufficient time to allow the Scotia results to influence the exact location and design of the 3D survey. As a result, FOGL and its joint venture partners have decided to swap the order of the two surveys and the northern area 3D survey will now be acquired in the fourth quarter of 2013.

A second 3D survey, operated by FOGL and using the PGS M/V Ramform Challenger, is expected to commence in the first quarter of 2013. A further announcement regarding this survey will be made once the vessel arrives in the Falklands.

Pro

What do you mean "not even a puff of gas came out". I remember in September you were raving about it, and were very surprised the share didn't go over £1.00. What do you mean "only mature gas" would be very bad news at Scotia? Are you being sarcastic???

What time/price did you sell out at? if you'd be willing to share! And how come magicjoe didn't get squelched for that comment

Hi, who can explain recent trades marked buy after relatively large buys price is going down?
Is it sell from market or aim is doing own bussines ?