.

212p x 1740% increase for success.

So GS are saying 36 pounds 88 pence per share target price on Loligo/Scotia success, pre appraisal drilling, just based on discovery - which would then increase considerably with appraisal drilling and firming up of the figures.

I would go with that.


212p pre-drill and 3688p post drill with success - about right.

i don't think there is a direct correlation with sp between 8% chance and ultimate success though obviously if commercial quantities of oil - not gas; not condensate; just real good quality liquid black stuff - then the upside is certainly very significant indeed ..... but that presupposes black eldorado

Chasing rainbows springs to mind,if any thing is found FOGL think it maybe gas.

Well guys.....in up to my neck here......hoping for a major success.....and you have to say that going through their presentation of the prospects only one word springs to mind : "impressive"....worth printing out......might be gas Marky....but perhaps several trillion cubic feet......commercial....and there are other prospects within their vast acreage...worth a punt Marky....

RF - Loligo is likely oil and gas.

5 zones -

2 are more likely gas than oil, 3 are more likely oil than gas. I would not be surprised if the outcome were 10 Tcf of gas and 3 billion barrels of API 20 oil.

Updated destination is Stebbing 3.

The LE rig is on its way and will arrive today, so spud over the weekend it looks like.

And Loligo gets nearer and nearer to spudding..............

Farm in news must be getting near, only say 6 weeks to Loligo spud and the farm in partner will likely want to review the drill proposal pre-spud..........

certainly there's a twitch of life in the corpse, but that is pretty much true across the board today

A corpse implies no further life. I prefer 'patient' (very sick one with weak vital signs, but nevertheless, still in the land of the living!)

lazarus? ..... wife + sex?

Divine intervention would certainly give things a lift! Not sure that we are top of his list for assistance though!

No more trading for me now......need some profits showing before doing anything...so perhaps time to sit on my hands for a couple of weeks....at least it's up today.....

Order book for BOR and FOGL looking strong, looks like there might be more news that just spudding on Monday then ?

superficially yes - i.e. 2:1 - but in small volume - only 200k traded so far

Up still the same.....if normal market conditions returned : we would be way above 100p by now !....

Nice sharp rise......just as I like it !.....like a breath of fresh air this one.....!...

Confirmation that ONGL was not the confirmed 25% farm in partner......but another one who was looking for 35%.

http://www.thehindu.com/business/Industry/article3425773.ece

.

I dropped DES in favour of more FOGL....perhaps I have too many of these.....fingers crossed for more discoveries.....

rf what discoveries?

Gas .....Hali....with BOR......Loligo might have trillions of cubic feet...and if the reservoir targets have oil.....it would be sensational.....