.

Don't worry; I have never been afraid to ask the odd question or 2.

What do you want to know about engineering..........Especially, Pharmaceutical, and Petro Chemical ...Now were talking!

i know we do lots of biz with those companies, especially the latter

Just had confirmation from FOGL that the LE Rig is still with BOR as BOR are still working on the plug and abandon process.

Edison Reserach update on FOGL.

http://www.edisoninvestmentresearch.co.uk/search/Falkland%20Oil%20&%20Gas

.

What a load of tosh, here is a ramp from another thread....so much for not posting..

Back to ramping gas as its worth more than oil...haha,If it worth that much why does he not buy BOR then.

I thought he was shouting £30 now it gone up to £40...the bloke is a clown

right i have had my moan am off back down the mine

Pro_S2009 24 Jul'12 - 12:16 - 19614 of 19622

Based on what was paid for Cove, if Loligo is 25 TCF recoverable its value(FOGL's 75% of it) would be 19.3 pounds per share to FOGL.

Not bad you can buy now for 70p.

19.3 pounds a share for 25 TCF dry gas.

Double that for oil.

I bought in yesterday morning @ £0.72

Proselenes - I thought you wer taking the summer off.. for the 2nd time now!

For a gas outcome to Loligo, here is a post I put on AFN.



Cove sold their gas at 3.07 US$ per BOE (barrels of oil equivalent)

If Loligo is gas thats 25 TCF recoverable, which is 4.16 billion boe.

4.16 billion with a 75% share is 3.12 billion boe net to FOGL.

3.12 billion x 3.07 US$ = 6.2 billion pounds


6.2 billion pounds divided by 320 million shares in issue = 19.37 pounds per FOGL share.


Gas is very welcome....... as is oil



And before anyone spouts crap, 5 TCF recoverable is economically viable to develop in the South Falklands. At 10 TCF recoverable is very very attractive. 25 TCF would be mega mega attractive - and probably why EDF have farmed in, they like to develop gas..............

!!!

i copied and pasted his post from there...guess he has missed a bit off.

guesswhosback 24 Jul'12 - 21:14 - 19623 of 19624

Pro, thats an interesting read. It also highlights the possibility that BOR has not quite finished yet. Seems bullish on their partial discoveries too.

Potential of a 5x from here if the first well is successful according to Edison. Worth the gamble I suspect.

Pro_S2009 24 Jul'12 - 23:14 - 19624 of 19624

guesswhosback.

They say circa 180p pre drill target price and "over 400% upside on success of first well".

So they are saying minimum 180p x 4 - but could be well over that too hence they say "more than 400%".
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BOR is a dead duck in the water....even if gas, look at RHK who found oil

The bloke is full of ot....shi..

FOGL there will be a rush,yes buy now the odds are poor of out come,,,i hope they are lucky

I think the discussion on gas is very needed. It is expected the upper targets at Loligo will be gas - anything up to 15 TCF and very commercial due to the massive size, and lower targets oil.

You will note Edison update says "4.7 billion boe" - boe of course being "barrels of oil equivalent".

No mistake should be made with Loligo, a mixture of oil and gas or gas alone is to be expected.

5 TCF recoverable is the minimum for development in the South Falklands, Loligo is targeting 25 TCF which is well above the 10TCF level at which gas development becomes very attractive.

My own "best possible" scenario is 15 TCF recoverable in the upper targets and then 2 billion barrels of oil in the lower. This would make both gas and oil highly commercial in the South Falklands and would fast track gas development with EDF and also oil development with EDF.

The biggest clue of course is in the name of the company - being Falkland Oil and GAS.

FOGL has the massive size targets that would be commercial on an oil find or a gas find.

Folks who post in the middle of the night presumably have an issue of some sort.

Thanks for your thoughts Proselenes, as to the clues in the name that been a timely reminder to the pi's who wondered what the Gas at the end meant...

FOGL is speculative and risky like all oilers, especialy in the FI's, but the POTENTIAL is massive...:D))

GB, you have to remind people - they are looking for oil AND gas, hence the name. Loligo is so big its massively commercial on a gas strike alone.

Some muppets have been posting elsewhere that gas is not good for FOGL, total idiots to suggest that.

stop grasping at straws ..... the full name of the company is irrelevant ..... if they don't find oil, the share price will be massacred ..... gas except in almost unimaginable quantities will be pretty much useless

Commercial amounts of gas will still be a decent find. Whether or not the market will think that...we'll find out!

"commercial" in FI will need to be very significantly more than if found in easier waters ..... further, the market is really only interested in OIL

Cynic is totally correct on this one

BOR have found gas just look at the share price it’s at an all time low. Still over priced as well.

BOR are a dead duck as have little money left

To raise money to do more drilling means more dilution in its share price who will lend them the money?

If the gas find is commercial where are they going to find the 1.5 billion plus to set up the infrastructure to get it out?

If RKH are talking 2017 to get oil out it could be 10 years away for gas.

Any gas find from FOGL will have the same negative problem, where is the money coming from to extract it, who is the partner with large pockets taking a huge slice of FOGL as a company for a return.

In these markets it isn’t going to happen.

I hold FOGL but all so can see the down side of it.

So cynic in your view what would be significant?.

markyman "where is the money coming from to extract it". Well seeing as you've stated the negatives(ie they only find gas) what about the possible positives, as Proselenes states over 10TCF and its well worth commercialising, add on finding oil lower down then it'l be the icing on the cake, Then funding won't be such a big problem,and who knows what the price of oil/gas will be if your timetable is correct, 2/3 years down the road before they start producing...But as they say "the oils/gas is not going anywhere...

PS as to your holding FOGL but only seeing the negatives, why the hell are you invested here?..

Because i think when they drill the price will go higher....a lot higher as such a huge target.

lots of people will jump on the bus for the ride but i will be getting off well before any result are known......i might hold a few thousand on the results just in case.

Am here to make money and i think i can make some money here,i am down at present on my holding of FOGL.

pro states a lot of things on many threads about 6 which i know of....IFs and BUTs