Argos Resources Ltd is an AIM quoted oil and gas exploration company based in the Falkland Islands, ideally placed to make the most of an exciting new oil province heading towards production.

Argos holds a 100% interest in Licence PL001, which covers approximately 1,126 square kilometres in the North Falkland Basin. The licence boundary is just 3km from the Sea Lion oil field, a significant discovery on course for production start-up in 2017.

New 3D seismic data of excellent quality was acquired over the entire licence area in 2011 and has identified 52 prospects with a best estimate of 3,083 million barrels of prospective recoverable resource, and a high estimate of 10,412 million barrels. 40 additional leads have been identified which are not included in the above resource figures and which are the subject of ongoing work.

The Company is now seeking an exploration partner to drill a selection of key prospects to unlock the value of this exciting opportunity.

http://www.argosresources.com/
http://www.falklands-oil.com/
http://www.desireplc.co.uk/
http://www.rockhopperexploration.co.uk/

http://www.argosresources.com/docs/AIM-Admission-Document.pdf

The Opportunity
•Proven commercial petroleum system
•52 oil prospects, defined by excellent quality 3D seismic data
•CPR attributes 3.1 billion barrels of prospective recoverable resource to the prospects, with upside of 10.4 billion barrels
•40 additional leads identified and under review
•Several prospects similar to Sea Lion
•Prospects have been de-risked by the Sea Lion discovery
•Potential extension of Johnson gas discovery into licence
•Licence 100% owned by Argos Resources
•Benign operating environment
•Stable Government with a competitive tax regime

I reckon that next week will see the sp here climb....just on possible potential (if that's what you can call it)....

their licences are a long way away from the only proven oilfield of Sealion and if the shares are marketed by just a single MM, the chances of being treated fairly at all times are pretty slim

:-))

There's a lot of market makers in this stock cynic and it's extremely liquid, i was
making reference to the mm Novum who have a habit of sitting on the offer in a
lot of stocks with endless amounts of stock to sell, as it happens they did move
up a short while after my post, why sell for 38p when you can sell for higher when
the herd chase on momentum, refreshing this one is not a sets stock, thats why
i trade it, i hardly touch sets thesedays.

ah; thanks ..... it's on my watch list, but can't currently get very excited about its prospects, and i am always wary of MM only stocks as it's impossible to see any underlying orders

I actually prefer mm only stocks, L2 is all false and always will be but if you
check online limits regularly you will know the real positions of the mm's, sxx
was a good example, lots of shakes all bar one mm was very short of stock.

cynic, also they only have enough cash to do the seismic survey.

They have to come back to the market in the future to raise the big money needed to do any drilling.

Which is why I am waiting. Its only risen in the past days as Evolution and RHPS are doing a marketing job on it presently it seems to drum up buyers.

The sp should rise on potential....why should DES rise so much with diddly squat.....and not a little bit : Argos......

DES is indeed rising on very little EXCEPT its fields relative proximity to the proven Sealion, and of course that it has the rig booked for the next pop at finding something

ARG, doing very well on the back of RKH results, plus alot of ramping on ii. Even if ARG has no oil we can get out now for a profit that would take years to earn in a high yield bank account.

What a remarkable share.

With the others all quite high,.... this had play "catch-up"....

I agree rf.. up 25% today.

my fear is that this whole FI scenario is becoming ridiculously frothy with the lemmings piling into everything ..... it should not be forgotten that RKH is the only one to have actually found oil so far, and though that looks to be pretty significant, even that is a good time off being extracted

Then shorting might be the order of the day soon...bought and sold this one twice now....just taken profits at the earliest top......could go higher but not sure...by the way : everytime I see FI...the first thing I think is formula one....

Totaly agree with you Cynic......

ARG - must assuredly be too far too fast and ripe for shorting .... they're not even drilling for another 2 years!

Check out DES...starting to drop and no short from me...

Barring a few exceptions, the whole market is taking a bit of a hit today, so may not be FI related. Of course, frothy stocks take a bigger hit.

i have shorted both ARG and FOGL, but continue to hold RKH and DES though on a much reduced level from what i had a couple of days back

This will come down with a bang, i have sold all my holding, it hasent even done 3D its a crazy price its not worth 132 million just on 2D.