.

No oil has been found in the SFB not even oil shows.....gas and a great big coal mine so does that mean its all been over cooked is the question.

FSM - so i take it that your view is "fuck the wildlife; juicy profit rules supreme!" ...... in fact, your sweeping opening statement does not hold water (irresistible, i'm afraid!) let alone stand up to serious scrutiny and disection

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MARK - i think we all tend to get swept away by hype, and it is well-worth remembering that even in oil-rich areas such as the waters off ghana and north sea, very recent history shows that duds are still regularly recorded

I might be wrong but doesn't coal cooked at depth turn into oil ?...(perhaps not the right way to describe it)....but there is a huge chance of Falklands oil and gas hitting a big strike with the Loligo well....so far in one of the smallest prospects they (BOR) have a gas condensate discovery....not bad for a first well or second if you count the Torea prospect which was drilled in shallower waters...

even if you're right, suggest you take very good note of my comment above re known oil-rich areas, of which sfb is most assuredly not (currently) one

RF they have said they have hit gas condensate…true….how much? Is there enough to make it a commercial discovery, also there is not the money in extracting gas as there is in oil the profit margins are small.

On that news BOR are overpriced and over hyped,FOGL are still holding a fine set of cards at present.

cynic - you might want to study how condensate comes into being - it might be linked to being oil in the first place.......... ;)

Cynic, I'm not sure about what you mean by saying my sweeping opening statement "does not hold water". Water??

Taking into account the low changes of an oil disaster and the % of it, that would be my responsibility.. well I won't feel too bad. I do care about the wildlife, but I also care about sex and food!!!

I will laugh my head off at Proselenes if they hit coal at Loligo

it might be linked to being oil ...... and of course may well be nothing of the sort

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fsm - were you hitting the bottle hard at lunchtime?

Geologically impossible to hit coal at Loligo. Coal was a very high chance at Toroa due to its past swamp like shallow nature (if you care to work out how coal is formed). This is why Toroa was given a 3.7% Chance of Success - and not surprise it failed. It was the only well capable of being drilled by the OG Rig, and one well had to be drilled to qualify the license - so its no surprise this one had coal is it.

Loligo, being deepwater, is impossible to be coal (if you care to work out how coal is formed).

But of course, that will not stop the idiots trying to pretend it might be coal - and there are lots of the them about................ :)



I will laugh my head off at Proselenes if they hit coal at Loligo

What's the "northern licence commitment "????????????

Proselenes - stop acting like you think the 'average joe' knows exactly whats going on geologically beneath the southern falkland basin

You have been warned!

FSM - I even put a link into my write up which shows how oil is formed (deepwater) and how coal is formed (nearshore shallows) in this write up :

http://www.stockopedia.co.uk/content/falkland-oil-and-gas-2012-its-time-63024/

Along with location of near shore Toroa well - which explained why it was coal.

Simple research - easy to do - its why some people are here having doubled their money already - and others are just joining the party - and why others have missed out so far and feel the need to have a dig and a go all the time.

Definitely Stebbing next it seems. FOGL paperwork still in process, but all in hand.


http://www.falklandnews.com/public/story.cfm?get=6231&source=3


.

Of course its stebbing they told you in the RNS you thicky Pro,u hearing little voices again, if they thought it was coal down there they would not waste 50 million trying to find out.

Coal after an extra few million years turns into oil...perhaps we might come back a bit later....

The FOGL annual report now states that Loligo has been further extended to 30 September 2012 presumably due to the continuing delays with Border's programme.

So it seems it might just have been load of hype!!!

Hey, do ye guys have like wives? and that??

How exactly do they plan on transporting the oil all the way up either the Shetlands, or Aberdeen?? That must cost huge expense, doesn't it seem a bit impractical???

Big interest in FOGL from India, but the Ministry of External Affairs has stopped ONGC taking a 35% stake in FOGL's licenses - for now - just stalled for the moment.



http://www.sunday-guardian.com/business/mea-stalls-ongc-plan-to-invest-in-falkland


MEA stalls ONGC plan to invest in Falkland

According to ONGC sources, the ministry is concerned about the potential negative fallout on diplomatic relations with the Latin American region.


OUR CORRESPONDENT NEW DELHI | 6th May

India's external affairs minister S.M. Krishna. The external affairs ministry has stalled ONGC’s proposal to buy a stake in oil assets in Falkland Islands.

.M. Krishna's external affairs ministry has stalled ONGC's proposal to buy a stake in oil assets in far away Falkland Islands. According to ONGC sources, the ministry is concerned about the potential negative fallout on diplomatic relations with the Latin..........................................

So that means we have "unknown party" in for possibly 25%.

ONGC were looking at taking 35% but could not complete by end April as agreed due to stalling by the MEA, however, they are still in the mix with the delays due to Borders and Southern.

Lots of people interested in FOGL, thats for sure.

I'm convinced that either a very large gas accumulation is awaiting us or it might be oil.....now we already have oil just 100 miles to the west of Loligo...it's possible that Sealion is in fact mighty larger and fans all the way across the top of the northern and eastern licences starting in fact from Argos's acreage right across and round down to Borders and Southern's.....quite amazing but possible......gas, gas condensate plus light oil and coal...all we need now is heavy crude !.....