MercoPress. South Atlantic News Agency
FOGL spuds the second well of its exploration program to the east of Falklands
Falkland Oil and Gas, FOGL, announced on Tuesday that last 25 September it spudded the Scotia exploration well to the East of the Falkland Islands. The well FI 31/12-01 is located 315 km east-northeast of the Islands capital Stanley, and 114 km from the Loligo prospect. Read full article
Comments
Disclaimer & comment rulesTWIMC
Sep 26th, 2012 - 04:31 am - Link - Report abuse 0The last and loooooooooooong roll of the dice!
Will it be Oil?
Will it be a Duster?
Will it be a “Gas Discovery”?
Will it be Southpawed Ginger Quadriplets?
We will have to wait those 65 days and see, won't we?
(Incidentally... Ain't that the time that takes for a bitch to go into labour? ;-)
Think - considering Noble are contractually obliged under the farm-in to operate a further round of drilling by a defined date, how is it the last roll of the dice?
Sep 26th, 2012 - 06:09 am - Link - Report abuse 0We also have future 3D seismic to do on Loligo :)
You learn a new word every day. Spuds!?! - I had to look it up.
Sep 26th, 2012 - 06:36 am - Link - Report abuse 0Spuds = 2.Make the initial drilling for (an oil well)
1
Sep 26th, 2012 - 08:30 am - Link - Report abuse 0“Ain't that the time that takes for a bitch to go into labour?”
Ask Cristina, she'll remember exactly.
2
Hero and Hersillia represent two good prospects for FOGL and will almost certainly be investigated in the next round of drilling.
Scotia is however an excellent prospect which is why it has attracted so much interest from Noble and Edison. But as the troll says we will just have to wait and see. Fingers crossed.
The Argentine trolls are just jealous, as they have had to come to the UK to beg for investiment in their country.
Sep 26th, 2012 - 01:08 pm - Link - Report abuse 0This is unlikely since Argentina loves stealing oil companies, not really good grounds for a relationship with other oil companies.
Plus CFK in her rant at UN has made herself look stupid referring to UN advisory comments to UK that are 30 years old whilst ignoring those that are current against her own administration regarding indigenous peoples
no Soros, no oil. !
Sep 26th, 2012 - 01:39 pm - Link - Report abuse 0( 2 ) Beef
Sep 26th, 2012 - 04:36 pm - Link - Report abuse 0I “Think” I hear Noble saying that the are ”Interested” in becoming operators “IF” the Scotia well is successful......
A far cry from your optimistic:
“ Noble are contractually obliged under the farm-in to operate a further round of drilling by a defined date”
I can further see that your favourite Malvinas Oil pusher; ”Rockflopper”, continues with its downward trend……(- 4.10% today)
You better forget all about that F-Type dream.....
If you sell quickly, you may still be able to afford an Aston Martin (Cygnet ;-)
If you wait much longer, you may not even be able to get a Perodua Myvi……
Yuppp…………
The last roll of the dice, all right.
“I “Think” I hear Noble saying that the are ”Interested” in becoming operators “IF” the Scotia well is successful......”
Sep 26th, 2012 - 08:40 pm - Link - Report abuse 0“Noble Energy Falklands Limited, today announced that it has entered into an agreement with Falkland Oil and Gas Limited (”FOGL”) under which Noble Energy is acquiring an interest in FOGL's extensive license areas “
”is pleased to announce the execution of a farm-out agreement with Noble Energy Falklands Limited“
”FOGL continuing as operator of these licences until no later than early 2014, when Noble will become the designated operator.“
Charles D. Davidson, Noble Energy's Chairman and CEO, said:
”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.”
2 Beef
Sep 27th, 2012 - 04:00 am - Link - Report abuse 0Investor comment
Price fall today(yesterday)
“First Oil in Q3 2017”
“I hate this $tupid, ídiotic, möronic farm out deal from hell. They should have waited and not squandered it away to PMO, the least capable ”partner“ imaginable”
Looking good Beef :-)) 175.62 -7.50 (-4.10%)
Think - Noble are contractually obliged to provide a drilling schedule to an agreed time. In Scotia You are talking about one prospect not the entire northern and southern acreage (which is vast).
Sep 27th, 2012 - 01:28 pm - Link - Report abuse 0“Given suitable encouragement from the 2012 drilling results, this is likely to include two 3D seismic surveys to be acquired in the Northern and Southern Area licences commencing in early 2013. Further exploratory drilling is then anticipated to commence in late 2014 and may include a programme of up to four exploration wells.”
“Noble will farm-in to the Northern Area Licences for a 35% interest except for two excluded areas. FOGL will continue as operator of the entire Northern Area Licences until early 2013, when operatorship of the farm-in area will be transferred to Noble.”
“Noble will also farm-in to the Southern Area Licences for a 35% interest, with FOGL continuing as operator of these licences until no later than early 2014, when Noble will become the designated operator.”
Marcos - As it appears that you know as little about the nature of delivering first oil from a frontier basin as does this apparent investor then your comment has about as much value as your claim to the Falklands.
Good price to keep adding though :) Looking very good.
BTW- Nice to see your Bourgeois leader achieving nothing at the UN this week. Chuckle chuckle.
(10) Beef
Sep 27th, 2012 - 05:57 pm - Link - Report abuse 0That exactly what I said....:
“ “GIVEN SUITABLE ENCOURAGEMENT” from the 2012 drilling results, “THIS IS LIKELY” to include two 3D seismic surveys to be acquired in the Northern and Southern Area licences commencing in early 2013. Further exploratory drilling “IS THEN ANTICIPATED” to commence in late 2014 “AND MAY INCLUDE” a programme of up to four exploration wells....”
Or, in plain english...:
“IF” the Scotia well is successful Noble will become operator...
“IF” the Scotia well is NOT successful Noble will NOT become operator...
Last throw of the dice, lad.....
I can see that Rockflopper is down again today (174p).
That's under your buying average..., isn't it.
Are you allready “filling your boots”?
Or waiting for the price to drop even further?
Chuckle chuckle©
I will need to recalculate my average on RKH (but iut is somewhere in the 150s). Either way it is a regular top up as this is easy money when production starts. Look at the Cairn chart for the eventual outcome. As it is going nowhere fast then the traders want to look elsewhere and get in before the big sp re-rate.
Sep 27th, 2012 - 06:57 pm - Link - Report abuse 0Regarding FOGL. Noble will become operators as a walk away will hit them in the pocket significantly. They no have access to the data and will use that to identify drilling priorities (hence they will become operators).
(12) Beef
Sep 27th, 2012 - 08:04 pm - Link - Report abuse 0Your'e always soooo optimistic.....
Do recalculate and don't cheat yourself....Mid 160'sh, at best.
Noble will quietly walk away if no oil is found at Scotia...
Last throw of the dice, all-right....
The troll protests a little too much. Failure at Scotia would be a set back but not the end of the Fogl story. Also prepare for some good news on Loligo as the drill results are analysed.
Sep 29th, 2012 - 04:14 am - Link - Report abuse 0Commenting for this story is now closed.
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