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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: July 29, 2012 09:38AM

Considering the upper targets at Loligo are most likely gas, and the lower ones probably oil - here is the result I am hoping for from the 5 targets to be drilled at Loligo.

T1 = 9 TCF recoverable gas on a P50 basis.

T1 Deep = 3.8 TCF recoverable gas on a P50 basis.

Trigg and Trigg Deep is 969 million recoverable barrels of oil - P50.

Three Bears = 1588 million recoverable barrels of oil - P50.

This gives a 4.7 bboe figure in total (4.7 billion barrels of oil equivalent, if you convert the gas to boe and add on to the oil barrels).

That result would give 12.8 TCF recoverable (well over the 5TCF recoverable minimum for economic development in the South Falklands and also well over the 10TCF level at which development becomes very attractive for gas).

On top of that for short term there would be circa 2.5 billion barrels of oil for quick development.


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: July 31, 2012 12:57AM

Rig is now underway, moved about 50km over night in the direction of Loligo.

[www.marinetraffic.com]¢erx=-58.13182¢ery=-53.6912&zoom=10&type_color=9

The fun now begins for FOGL..............


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 1, 2012 08:50PM

Rig is now circa 63 miles south west of the Loligo location and will arrive at the drill site in the early hours of tomorrow (Friday) morning.


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 2, 2012 08:17PM

Rig arrived at the Loligo drill site at 10pm UK time Thursday 2nd August evening.

[www.marinetraffic.com]¢erx=-57.75184¢ery=-51.57723&zoom=10&type_color=9

The spud RNS is the key now - if it says "...drilling operations are expected to take between 45 to 60 days and a further update will be given when TD is reached and testing complete......." it will mean just one RNS is coming.

If the spud RNS says "............drilling operations are expected to take between 45 to 60 days..........." with no mention of next update, or it says further updates will be given as needed - then we are on for multiple RNS's throughout the drilling.

.


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 3, 2012 03:37AM

Little reminder of the farm in partner (who farmed in recently to 25% of FOGL's of FOGL's northern SFB licenses and 12,5% of FOGL's southern SFB license areas). They are interested in both gas and oil, and likely will have been attracted to FOGL and Loligo due to the high chance of the upper targets, T1 and T1 deep being circa 12 TCF of recoverable gas (P50 basis). They are the perfect partner to develop a gas discovery, a gas/oil discovery or an oil discovery.

Edison SPA (majority owned by EDF)

15.2 billion cubic meters of available natural gas supply. Edison accounts for 19.60% of Italy’s demand for natural gas, 83 concessions and exploration permits in Italy and abroad, 3 natural gas storage centers, 1 LNG terminal, 49.8 billion cubic meters of hydrocarbon reserves.

Their brochure is well worth a read, PDF link below.

[www.edison.it]

.


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 6, 2012 01:08AM

Stunning news.

Noble farms in and also Loligo spuds.

Love the terms of the farm in !!!! Well done FOGL.

Roll on Loligo.

Notice - there is no talk about updates in the spud RNS - this now leaves them open to update once, or three times, or five times during the drilling and various target zones.

[www.investegate.co.uk]

[www.investegate.co.uk]

:)


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 6, 2012 01:19AM

Big news.

Firstly - FOGL will now have 40p a share left over in cash after drilling Loligo and Scotia. So the downside is now limited to 40p with 2 dusters !!! :)


...........The farm out substantially improves FOGL's financial position. In the event that the Loligo and Scotia exploration wells are drilled within budget, it is estimated that on completion of the wells the Company's cash balances will not be less than $200 million which will provide the Company with significant funds for additional exploration work. .........


Secondly, now have a big US company involved, along with Italian/French Edison (EDF).

........Charles D. Davidson, Noble Energy's Chairman and CEO, said:

"Noble Energy is looking forward to working with FOGL and Edison in this new exploration joint venture. After careful study, we believe this region is very consistent with our new ventures exploration strategy of entering regions that provide prospects that are not only material in size, but also where initial success can de-risk subsequent opportunities. In this particular case we have already identified numerous oil leads on 2D data with an unrisked gross resource potential exceeding 6 billion barrels of oil. Once completed, this transaction will increase our worldwide leasehold by over 70 percent gross and 40 percent net."

Noble Energy is a leading independent energy company engaged in worldwide oil and gas exploration and production. The Company has core operations onshore in the U.S., primarily in the DJ Basin and Marcellus Shale, in the deepwater Gulf of Mexico, offshore Eastern Mediterranean, and offshore West Africa. Noble Energy is listed on the New York Stock Exchange and is traded under the ticker symbol NBL. Further information is available at www.nobleenergyinc.com.


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 6, 2012 04:52AM

Final version of my Loligo summary and reference :

[boards.fool.co.uk]

,


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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 6, 2012 09:34AM

Link below to interview with Tim Bushell of FOGL following the Noble deal.

[tinyurl.com]

and

New presentation on the farm out :

[www.fogl.com]



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Re: FOGL.L (Falkland Oil and Gas)
Posted by: Proselenes (IP Logged)
Date: August 6, 2012 07:43PM

Worth a watch - Lex on Falklands/Noble deal.

:30fc:http://video.ft.com/v/1773416535001/Falklands-oil-bubbling-up:/30fc:- .

.


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