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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: January 27, 2012 11:01PM



Recent Toroa drilling opened up a new deepwater play in the mid Cretaceous. In addition, the presence of the Jurassic Springhill play was confirmed. The Toroa drill derisked the Darwin prospect for BOR and also brought undoubtedly the mid-Cretaceous leads (like Scotia) into play. The next two wells will target multi-billion barrel potential in two untested plays: the Tertiary Channel play and the mid Cretaceous Fan play, the latter is analogous to the successful fan plays in West Africa, such as Ghana's Jubilee field.

The Loligo prospect is a large, shallow, stacked, Tertiary channel feature with a Class III AVO response. It has mean potential reserves (recoverable barrels) of over 4,700 MMbbls (or over 25 Tcf recoverable if gas). The Scotia prospect is a mid Cretaceous Fan play with mean reserves (recoverable barrels) over 1,000 MMboe. It has a Class II AVO response which is generally coincident with structure and sits above the mature Aptian source rock. Success in either of these prospects will open up multi-billion barrel play fairways that contain numerous 'look-alike' prospects within FOGL acreage.

To date, over USD 165 million has been spent exploring FOGL's licence areas in the form of seismic, CSEM, site surveys, studies and drilling. The forthcoming drilling programme is budgeted to cost USD 175 million.

Key Features are:

First well to target over 4,700 MMbbls or over 25 Tcf (in gas case) in a DHI supported, Tertiary prospect (Loligo);

Second well to test the Scotia mid Cretaceous fan prospect, which lies above the source rock and is supported by clear Class II AVO;

Basin entry position with large new seismic data base and 5 years to explore;

Basin contains numerous multi-billion barrel and multi-Tcf prospects and leads;

Very attractive fiscal terms, CT 26% and Royalty at 9%; rilling in 2011;

Leiv Eiriksson rig contracted for 2 wells in 2012.


Stocks Discussed: FOGL.L,
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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: February 10, 2012 01:00AM

People think I am joking when I say the top hundred FOGL prospects have over 60 billion RECOVERABLE barrels potential.

They will learn soon enough that actually its no joke.........

500 billion with a 30% recovery rate gives 150 billion recoverable barrels, so its no surprise for FOGL, which has the largest and what could be the most prospective license area's, to have in their top hundred prospects the potential for over 60 billion recoverable barrels.

4.7 billion of which are up for grabs with the first well of theirs, Loligo, spudding June should be, perhaps late May even.

[www.irishtimes.com]

..........Once the anniversaries are over, the Falklanders publicly declare their hope that tensions will decrease and they can return to normal worries, such as the fact that Stanley’s primary school is no longer big enough.

In truth, however, the waters off the Falklands hold the key. Four exploration wells are currently being drilled, amid talk that there are 500 billion barrels “out there”............


.


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: February 11, 2012 07:43PM

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9076530/Falklands-oilfields-could-yield-176bn-tax-windfall.html

Falklands oilfields could yield $176bn tax windfall

The Falkland Islands stand to benefit from an enormous $176bn (£111.7bn) tax windfall from oil and gas exploration, according to a major new report.

A report predicts the potential tax riches for Falklands Islands oilfields are likely to reach just shy of $180bn.

By Nathalie Thomas
9:30PM GMT 11 Feb 2012

A study to be handed to the UK Government this week will lay bare the potential riches on offer from drilling in waters within the 200-mile exclusion zone set up during the 1980s Falklands War to mark the boundaries of British territory.

A group of UK-listed companies is involved in exploring four major prospects this year, with the largest, Loligo, potentially holding more than 4.7bn barrels of oil. By comparison Catcher, the biggest discovery in the North Sea of the past 11 years, is believed to hold only 300m barrels.

The report by oil and gas analysts at Edison Investment Research predicts that if all four prospects were drilled, the potential tax riches are likely to reach just shy of $180bn.

At present, the Falklands’ main industry is fishing, which generates just $23m a year. Beyond that, the territory receives only $16m in tax receipts a year from other business sectors.

The most developed prospect, Sea Lion, already appraised by Salisbury-based Rockhopper Exploration, is forecast to produce 448m barrels over the next 20 years.


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: February 16, 2012 10:40PM

[en.mercopress.com]

"............According to Reynolds the Southern Basin is totally unexplored but the largest prospect in that basin, Loligo (being targeted by FOGL), contains estimated resources of 4,700 million barrels, making it the largest drill target anywhere in the world in 2012 and over ten times the size of the estimated gross 448 million barrels discovered to date at Sea Lion.

But, according to Reynolds there is more to be had in the Falklands than just a speculative punt on exploration drilling.

“The Falklands offers a bit of everything for investors at the moment,” she said.

“Rockhopper provides relatively low-risk development upside, while FOGL is the most compelling of the exploration plays, although Borders and Southern remains very attractive”.

The analyst also says that while Desire Petroleum and Argos Resources are less attractive at the moment, with no near-term activity, both companies could still benefit from regional euphoria in the event of 2012 discoveries."


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: February 17, 2012 10:44AM

For anyone who has not read the Edison Falklands write up.

[www.mediafire.com]

.


Stocks Discussed: FOGL.L,
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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: February 24, 2012 07:21AM



Stocks Discussed: FOGL.L,
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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: February 27, 2012 12:38AM

[www.telegraph.co.uk]

Monday 27 February 2012

........................

The International Energy Agency (IEA), the energy think-tank funded by oil-importing Western governments, tells us that crude demand is "declining remorselessly throughout the OECD [countries]". Given that the Western economies remain weak and the eurozone is heading for recession, the "advanced economies" are consuming less crude.

The fine print shows, though, that even IEA demand projections, which tend to be under-estimates, show OECD oil use falling just 0.9pc in 2012. Demand among the non-OECD countries, meanwhile, including the emerging giants of the East, is forecast to rise 2.8pc. Total global crude consumption, then, is still set to increase by another 1pc this year, mimicking the trend of 2011......


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: March 20, 2012 02:40AM

News today, farm out..... big vote of confidence.

[www.investegate.co.uk]

.




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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: March 20, 2012 07:09PM

Farm out presentation link :

[www.fogl.com]

Write up from MaxValue on what was said in the Conference Call about the Farm Out.

> They are already fully funded for the 2 wells. These wells will meet both Phase 1 and Phase 2 commitments.
> Currently they have a contingency on these wells of 30% (enough for 5/6 weeks).
> The farm out will provide a contingency of 120%.
> The farm in party (an international E&P) doesn't want to make an announcement due to an unrelated internal corporate issue they are dealing with.
> The deal is expected to complete in the next month or 2.
> FOGL are still talking to other parties as there was interest from a number of players.
> They choose this party as they are ready to proceed, had a good technical fit and is financially robust (others wanted to take operatorship or wanted a larger share).
> Depending on the results of the wells in the existing campaign (FOGL and BOR) the additional funds ($95m) maybe used on 3D seismic (1xNorth and 1xSouth) or on a 3rd well.
> The rig is due back in Norway by October so there is a window for a 3rd FOGL well.
> This is only an option at the moment.

GLA & DYOR

MV


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: March 22, 2012 09:29PM

Edison update on FOGL 22nd March 2012. PDF can download on the link below

[www.mediafire.com]

.


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