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

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

October update

Ocean Guardian 1,500' Falkland Is.
Current Contract AGR/Desire/ Rockhopper Eight firm wells plus two remaining optional wells mid 240's mid Feb. 2010 late Jan. 2011

WTE holding Argos Resources Plc - 1,200,000

Argos Resources Limited, oil and gas exploration company, has announced that the MV Polarcus Asima seismic vessel is in transit to the Falkland Islands and is expected to arrive within the company's license area to commence 3D seismic acquisition in the first half of January 2011.
The Company plans to acquire 3D seismic data over the entire area of License PL001, and also intends to acquire additional 3D data in open acreage to the north of the license.
The seismic vessel has been contracted in a co-operative arrangement with Rockhopper Exploration plc, who are also participating with Argos in the 3D acquisition in the open acreage.
Commenting on this progress, Ian Thomson, Chairman of Argos, said: "Argos is on schedule to acquire 3D seismic over our license area in the austral summer weather window, allowing us the possibility to commence exploration drilling as early as the fourth quarter of 2011."

Time to start stockpiling ARG shares then?

I have a few at moment Harry and hope to continue topping up before result are know on the 3Dthere is lots of work to be done here but the prospects so far look quiet exciting especially with them so near to Sea Lion where RKH hit.


http://offshore.no/international/article/Falklands_seismic_to_start_

Argos has previously indicated, based on 2D seismic data, that its licence area contains seven prospects and five leads with a total unrisked potential of up to 747 million barrels of prospective recoverable resource, and up to 1.75 billion barrels in an upside case

Slide 11 and zoom in 3D seismic pre plot

http://www.polarcus.com/assets/0000/1209/Polarcus_Company_Presentation_SEB_12_Jan.pdf

Getting weak as the sells are taking over v buys, closing positions mos likely after the rise and MMs not letting sells on size online, Max was 3K @ 45 / 45.0p

Overlaid the 3D map from Polarcus with the NFB prospect/license map and you can now see where the 3D is being done in relation to the targets.

http://www.proactiveinvestors.co.uk/companies/news/30229/argos-resources-says-fast-tracked-3d-yields-encouraging-early-results-30229.html

Argos Resources says fast-tracked 3D yields encouraging early results

Been slowly building up a stake here when its been in its low 20s

Intresting trades going through.

Hoping that this might fall further been buying in at 20p mark when can through out the year.

Topped up in here very happy at this price to hold for 6 months expect to treble by the time they drill.

15p would be a good buy... not now.

This could be another Desire Petroleum.

well if it hits 1.50 like Desire did i will be a rich man again.....

Just bank some bl**dy profit this time!!! ;o)

On the march 18% up!!!!! as said been buying these when ever they were near 20p looks like the gamble paying off now,lets hope they raise some money soon so they can get the 3rd slot.

good jump

Wednesday, September 28th 2011 - 22:18 UTC

http://en.mercopress.com/2011/09/28/falklands-argos-needs-additional-capital-for-drilling-set-to-begin-at-end-of-year

Falklands Argos needs additional capital for drilling set to begin at end of year

Falklands based Argos Resources expects to drill its first well on license PL001 in the North Falkland basin in late-2011 or early-2012, using the semi submersible rig Ocean Guardian, currently operating in the Islands waters.
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Chairman Ian Thomson, 3D data quality is excellent


However, Chairman Ian Thomson admits that the company will need additional capital to finance drilling, and the board is reviewing its options.
Interpretation of recently acquired 3D data is well advanced, Thomson said. The two structural prospects, Zeus and Demeter, have been confirmed and are considered to be robust closures. Mapping of other structural prospects continues and early indications are encouraging that these, too, will be confirmed.
One of the main features of the northern part of the basin, close to PL001, he added, is the presence of a major delta system.
The 3D data quality over the delta is excellent and we are now using that data to identify new stratigraphic prospects.
Several new prospects and leads which were not evident on the old 2D data [from 1996] have already been mapped from the 3D data. We are very encouraged that additional prospectivity is being identified in our license area, said Chairman Thomson.
Argos licence area adjoins licence areas being explored by Rockhopper and Desire, who between them are involved in a multi well drilling campaign in the North Falkland Basin in 2010 and 2011.

AGM tom so one to watch on Friday to see if the FI buy in to the story.