.

Bid 39p, offer 57p!!! That can't be right, surely?

Price being walked down for fund raising perhaps ?

Perking up again.

News today, look excited do they not.

News in July and drilling late 2011 :) !

Looks to me like ARG and RKH are sat on all the oil............. tough luck DES.

Given the choice, in July fast track 3D comes out from ARG and DES.

Both need to raise money to drill in late 2011.


ARG have the a north NFB license. 2 massive Sea Lion lookalike leads. No tarred reputation.

DES have a reputation in tatters and all their best prospect drilled and failed.


Now, where will people be putting their money ? I think any DES fund raising is going to be 10p levels if they can get one away - they may end up sitting and waiting now until 2012 before raising money, hoping RKH and ARG and BOR and FOGL all find more and more oil which makes it easier for them to then raise money again - and the longer time before fund raising the more time for people to forget..........

Ninky failure is probably good for ARG on the whole........ if you want to look for positives for others.

I really do hope Sam Moody of RKH is in touch with ARG now about farming into the ARG license... allowing ARG to raise less money and get their top 2 leads drilled with much less dilution.

Everything hinges on the new 3D seismic which if you read ARG and RKH RNS then both are getting them fast tracked ready for July.

RKH have the know how now to really be able to say what the seismic means in real life.

That would be an enormous help to ARG.



So I really do think that RKH could well be farming into license PL001 that is currently 100% ARG.

Maybe around late July/August time.

21st April rig status report for the Ocean Guardian shows 3 firm wells (that the coming 3 RKH appraisals) and 10 prices options for the new contract in effect once DES P&A Ninky.

So of the 10 options one would expect ARG to raise money for at least 2 wells, if not 3, and drill them in perhaps August/Sept time along with some more RKH wells and then with a couple of options for DES IF they can raise some money. If they cannot then it might be ARG or RKH again.


http://www.diamondoffshore.com/ourFleet/rigStatus.php

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2010 Annual Report out.

http://www.argosresources.com/docs/ARG-2010-Annual-Report.pdf

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ARG is not looking healthy... steadily downwards.

Up a penny...perhaps we are going to see sp upgrades right across the falklands board,... now !.

up loads, has there been a tip somewhere?