Argos-die kleine Ölperle in den Falklands! (Seite 7)

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UPDATE: Argos Resources’ Hogan delighted with better-than-expected Falklands oil report
3:57 pm by Jamie Ashcroft
http://bit.ly/qhOi2b

Adds comments from an interview with Argos Resources’ managing director Paul Hogan
Argos Resources (LON:ARG) shares gained as much as 23 per cent today after it unveiled the findings of an independent competent persons report on its acreage in the Falklands.

The report builds on the 3D seismic programme that Argos completed earlier this year. Today’s CPR confirms that this preliminary exploration work was very successful. It confirmed six structural prospects, which were previously mapped in 2D seismic, and identified 22 new ones.

Importantly the CPR defines a new prospective resource for the company’s acreage with ‘best’ estimates of 2.1 billion barrels of oil.

Speaking with Proactive Investors this afternoon, Argos managing director John Hogan said: "We are delighted to get results back from the CPR that exceeds what we expected.

"Shareholder's investment (via the £22 million IPO last July) in the 3D seismic programme was money very well spent.”

When asked about the group’s funding plans ahead of drilling, Hogan added: "At the moment we are keeping our options open.

"The CPR is good news but doesn't change what we were planning to do operationally.

"We always targeted being ready to drill by the end of this year, and that continues to be the case."

The new resource estimate represents a 182 per cent increase from the previous estimate of 747 barrels of oil.

The ‘high’ estimate sees 7.3 billion barrels of oil on the licence.

After getting off to strong start, the rally in the shares eased a little and at midday they were changing hands at 28.375p, up about 5 per cent. In the past week Argos is ahead 35 per cent.

This has come as investor’s attention has zoomed in on the Falklands after a busy week.

It is one in which fellow explorer Rockhopper increased its resource estimate, struck a deal to acquire an additional stake in a joint venture licence it owns with Desire Petroleum, and raised £46.5 million.

"There has been something of a re-focussing on the Falklands,” said Nick Searle, head of mid and small cap equity sales at Evolution Securities.

"Rockhopper raised money, and today Argos put out a report with a phenomenal rise in its resources. It shows a pretty big potential for discoveries for Argos.

"All eyes are back on the Falklands," he added.

Of the prospects revealed today by Argos Evolution, the firm’s broker, says the Rhea prospect is the pick of the litter.
It is estimated to contain just over a hundred million barrels of recoverable oil.

According to Evo analyst Keith Morris Rhea is low risk – with 31 per cent chance of success – and it is a lookalike’ of Rockhopper’s Sea Lion discovery.

The Sea Lion is the Rockhopper prospect that lit the blue touch-paper under the company’s shares.

The analyst also highlights the fact that, according to Argos’ consultant Senergy, a 50 million barrel discovery would be the ‘breakeven’ threshold on commerciality (based on a US$65 a barrel oil price).

As a result of today’s announcement Evolution, which already rates the junior oil stock as a ‘buy’, has increased its target price from 52 to 79 pence.

Morris said that his valuation assumes that Argos will farm out a 50 per cent stake in the licence and be carried for the costs of drilling the two lowest risk prospects, Rhea and Poseidon.

“Argos has a number of stacked prospects, and wells could be planned to test a number of these prospects with a single penetration, or with a side track,” Morris said in a note to clients today.

"The company should have drill-ready targets by end 2011 or early 2012, and is examining financing options to fund drilling costs.”

As part of this morning’s statement Argos also explained that preparations for drilling are continuing apace.

It includes gaining approval for an envi

[Andrija]

RNS Number : 1581Q
Argos Resources Ltd
14 October 2011

14th October 2011

ARGOS RESOURCES LIMITED

("Argos" or "the Company")

New Competent Persons Report

Raises Prospective Resource by 182% to 2.1 billion barrels of oil

Argos Resources Limited (AIM: ARG.L), the Falkland Islands based exploration company focused on the North Falkland Basin, is pleased to issue a new Competent Persons Report ("CPR") prepared by Senergy (GB) Ltd ("Senergy").

Highlights

· New prospective resource estimate of 2,107mmbo

· The six structural prospects mapped from earlier 2D seismic data confirmed

· 22 new stratigraphic prospects identified, creating significant new opportunities

· Good quality sandstones predicted, with several prospects, including Rhea, exhibiting similar seismic anomalies to those seen at Sea Lion

· Progress made towards being drill ready in late 2011 / early 2012

· Various financing options to fund drilling costs are being actively considered


The new CPR identifies considerable additional prospectivity resulting from the interpretation of the Company's recently acquired 3D seismic data over its 100% owned licence PL001. Based upon this report the total Best Estimate of unrisked potentially recoverable prospective resource on the Argos licence area amounts to 2,107 million barrels of oil (mmbo), an uplift of 182 per cent. on the previous resource estimate of 747mmbo.

The new CPR is available on the Company's website, www.argosresources.com.

In April 2011 the Company announced the completion of the acquisition of 1,415 net square kilometres of 3D seismic data, including coverage over the entire licence area, a halo outside the licence boundaries and tie-ins to key wells. The entire 3D data set was processed on a fast-track basis from which the Company has identified a portfolio of prospects.

The prospects fall broadly into two categories:

· Combination structural and stratigraphic traps defined by seismic amplitude anomalies and in several cases supported by isopach and structural conformance with the anomaly.

· Fault bounded and four-way dip closed structural traps often with closures at several horizons providing multiple reservoir targets.



For the first category, a total of 22 new combination structural and stratigraphic prospects have been mapped. Four of these prospects are within the previously identified Boreas prospect area. The remaining 18 prospects were not apparent prior to the 3D data being acquired. These prospects are expected to contain good quality sandstone reservoirs with several, including Rhea, exhibiting similar seismic anomalies to those seen at the Sea Lion oil discovery. The Best Estimate of net un-risked potentially recoverable prospective resource for these prospects amounts to 1,508mmbo. In four areas within the licence a number of these prospects are vertically stacked, offering the potential for drilling targets to combine several objectives to be tested by one well. The four areas offer stacked Best Estimate potential of 216mmbo, 118mmbo, 800mmbo and 69mmbo. Additional leads, not included in the above numbers, have also been identified and are the subject of ongoing mapping.

For the second category of prospects, the structural traps, the new 3D data has confirmed the presence of all six structural prospects that were mapped from the reprocessed 2D seismic data and that were described in an earlier CPR by Senergy in June 2010. The 3D data has achieved better data quality and fault definition and has therefore improved confidence in mapping. The Best Estimate of net un-risked potentially recoverable prospective resource for these structural prospects amounts to 599mmbo (previous P50 estimate of 602mmbo in the June 2010 Senergy report based on 2D seismic).

Therefore, the total Best Estimate of unrisked potentially recoverable prospective resource on the Argos licence area currently amounts to 2,107mmbo, with additional leads still to be evaluated. The High Estimate is 7,301mmbo.

The final processed data for the entire survey area is due to be received around year-end. Further improvements in data quality are expected, which will assist in planned seismic modelling studies. Future work utilising this data will include modelling of potential reservoir sands within the Johnson gas discovery, which appears to extend into the Argos licence. Potential contingent resources for Johnson attributable to the Company have not been included in the above figures.

The Company continues to work towards being ready to drill in late 2011/early 2012 in order to have an option to contract the Ocean Guardian drilling rig which is currently operating in the area. Such preparations include gaining the approval for an Environmental Impact Statement, received on 29 September, and purchasing three wellhead assembly packages which are held in storage to avoid long lead-order item delays. Preparations to meet other approval requirements are continuing apace.

Commenting on the results of the seismic interpretation, Ian Thomson, Chairman of Argos, said:

"The 3D seismic we have obtained is the best quality data seen in the basin to date. This has allowed us to map with confidence numerous new stratigraphic prospects associated with the early Cretaceous delta system that is a principal feature of the licence area and which is intimately associated with proven oil source rocks of the same age. We have also confirmed as robust the six structural prospects identified from earlier 2D seismic data.

Identifying new stratigraphic prospects which were not evident on the old 2D seismic was one of the key objectives in acquiring 3D seismic data. This objective has been more than achieved, with the results reported above of 22 new stratigraphic prospects considerably exceeding expectations. At the time of planning the 3D seismic programme Senergy estimated that some 522 mmbo of new prospects might be identified. In fact we have identified almost three times that level of prospectivity, with additional leads still being mapped. We are therefore delighted that the seismic programme has proven to be so successful.

Various financing options to fund drilling costs are being actively considered."

Na dann mal los, ein bißchen konkreter wäre schon interessant.

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ARG's AGM is tomorrow.
Seismics done.
Looks like they will be drilling late 2011 or early 2012, according to their last RNS.
Early birds catch the worm!

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http://www.offshoreenergytoday.com/argos-boasts-the-best-sei…
Posted on Sep 20th, 2011 with tags Americas, Argos, Best, Boasts, data, News, North Falklands Basin, Quality, Seismic.

Falkland Islands exploration company Argos Resources released Monday morning interim results and CEO Ian Thomson told investors that the group is on schedule to be ‘drill ready’ in late 2011/early 2012 to begin off-shore exploration activities in the South Atlantic British Territory.
This timing gives Argos an opportunity to contract the Ocean Guardian drilling rig, currently in the Falklands and contracted to neighbouring oil explorer Rockhopper Exploration which is appraising the successful Sea Lion oil discovery.
However Argos said that it will need to raise new capital to finance its drill plans. At present Argos is interpreting 3D seismic data that was gathered, over a 1,415 square kilometre area, earlier this year.
According to Argos it is the best seismic data quality that has been seen in North Falklands Basin to date. The company said it has already mapped several new prospects to its existing prospect inventory, and as interpretation continues it expects to identify further prospects.
”Interpretation of the 3D data is now 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.
He added: “One of the principal features of the northern part of the North Falkland Basin, in the vicinity of our licence, 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 have already been mapped from the 3D data. We are very encouraged that additional prospectivity is being identified in our licence area.”
Argos added that through the trading of seismic data with neighbouring explorers – Rockhopper and Desire Petroleum, it has created an excellent data base.
In terms of its financials the junior explorer reported a 557.000 dollars loss for the six months ended June 30 2011.
Argos is an oil and gas exploration company based in the Falkland Islands. The principal asset of the Company is a 100% interest in Production Licence PL001, covering approximately 1126 sq kms in the North Falkland Basin. Based on the 2D seismic survey conducted in 1996, seven prospects and five leads have been identified by Argos in the Licence Area.
The combined potential of the seven prospects is estimated to be 747 million barrels of unrisked recoverable oil, in the most likely case, and up to 1.75 billion barrels in the upside case. The Licence Area adjoins licence PL032 where the Sea Lion oil discovery was made by Rockhopper Exploration plc, who are undertaking a new and extensive drilling campaign in their licence.
Source: MercoPress

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http://en.mercopress.com/2011/09/19/another-falklands-compan…

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http://www.londonstockexchange.com/exchange/news/market-news…

ARGOS RESOURCES LIMITED

("Argos" or "the Company")





2011 Interim Financial Results





Argos Resources Limited (AIM: ARG.L), the Falkland Islands based explorationcompany focused on the North Falkland Basin, is pleased to announce its interim financial results for the six months ended 30 June 2011.



Highlights



· 1415 sq kms of proprietary 3D seismic data acquired over Licence PL001



· Best seismic data quality seen in Basin to date



· Several new stratigraphic prospects already mapped, adding to prospect inventory



· Interpretation continues with further prospects expected to be identified



· Trading of seismic data with adjacent licencees has created an excellent data base



· More 3D data acquired and at lower cost that initially anticipated



· Sufficient cash, post seismic, to meet ongoing needs, before drilling capital required



Mr. Ian Thomson, Chairman of Argos, said:



"Interpretation of the 3D data is now well advanced. 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 principal features of the northern part of the North Falkland Basin, in the vicinity of Licence PL001, 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 have already been mapped from the 3D data. We are very encouraged that additional prospectivity is being identified in our licence area.

The Company is on schedule to be drill ready in late 2011/early 2012 in order to have the option to contract the Ocean Guardian drilling rig which is currently operating in the area. Additional capital will be required to finance drilling and the Board is considering options to achieve this."

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Argos Resources Environmental Impact Statement (EIS)



Argos Resources has submitted an Environmental Impact Statement (EIS) to the Falkland Islands Government (FIG) in preparation for drilling wells in their acreage. The EIS document is available from the Department of Mineral Resources to anyone wishing to read it. Argos Resources held public meetings, led by their Chairman, Mr Ian Thomson, in Stanley and Port Howard during the consultation period where they explained their drilling plans. The company has until 13 July to respond to written comments. The Environmental Planning Officer will draw up a report, taking into account the written comments received and an external review that was conducted for FIG. He will present his report to the next meeting of the Mineral Resources Committee and recommendations will then be forwarded to Executive Council.


http://sartma.com/art_8870.html

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Argos Resources says initial seismic has de-risked Falklands oil prospects
1:04 pm by Jamie Ashcroft
http://bit.ly/iBLciQ


Crucially the data has ‘de-risked’ the Zeus and Demeter prospects, which are estimated to contain 258 million and 63 million barrels of oil respectively.
Argos Resources (LON:ARG) revealed some encouraging results from its offshore exploration work in the Falklands, further boosting the group’s confidence in its prospects there.
The encouraging early stage results are from a 3D seismic survey on the PL001 licence area.

Crucially the data has de-risked the Zeus and Demeter prospects, which are estimated to contain 258 million and 63 million barrels of oil respectively.

Argos also said it has identified a number of other prospects and leads from the 3D survey, which was completed in April.

Despite the apparently positive statement the share price response was pretty subdued. Mid-morning Argos shares were down 0.75p, or 2.5 percent, at 29.5p.

The seismic results had, however, already been hotly anticipating by investors. Despite their subdued performance this morning, the shares are still up almost 30 percent from recent lows in June.

On closer inspection there are several key takeaway points from this morning statement.

Firstly, the initial interpretation of the ‘fast-tracked’ seismic data has boosted confidence in two top priority targets.

The data has also revealed more new prospects and it has encouraged the company to speed up the remaining analysis so potentially it can drill its first well this year.

"The interpretation of the 3D seismic to date has confirmed two prospects, Zeus and Demeter,” managing director John Hogan told Proactive Investors.

Explaining the significance of the prospects, which were described as ‘robust closures’, Hogan added: "What we've learnt so far de-risks these two prospects because we now have a better understanding of the prospects and more confidence in the hydrocarbon traps."

Evolution analyst David Farrell welcomed Argos adding more new prospects to its portfolio thanks to the “high quality 3D data and prospect mapping that is ongoing”.

The analyst added: “We expect Argos to become more prominent over the coming months as leads and prospects are matured and communicated to the stock market.”

The Evo analyst reckons Argos shares are worth 108p a share, more than a 70 percent premium to the current price.

Crucially Farrell emphasised that this valuation assumes a £50 million funding to pay for drilling on the Zeus and Apollo prospects. Last year’s CPR estimates Apollo contains 176 million barrels of oil.

Another key point is the decision to ‘fast-track’ processing for the remaining seismic data.

The group expects to save three months on its previous schedule because of the decision, with a well being drilled by the end of 2011, or the start of 2012, using the Ocean Guardian rig that’s currently drilling wells for Rockhopper Exploration.

In this morning’s statement chairman Ian Thomson said: "Through sharing costs and seismic acquisition with adjacent operators, and being able to tender for a larger seismic programme as a consequence, we have been able to acquire more 3D data and at lower cost than was envisaged at the time of the flotation in July of last year.

“The 3D seismic we have obtained is the best quality data seen in the basin to date, allowing us to map prospects with confidence.

“As expected, we are also seeing from this data new prospects and leads which were not evident on the old 2D data.

“This was one of the objectives in acquiring 3D seismic, so we are very encouraged that additional prospectivity is being identified in the licence area and we can reasonably expect that further new prospects should be identified as the remainder of the 3D data is processed and interpreted.

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http://www.investegate.co.uk/Article.aspx?id=201107050700047…

Argos Resources Limited (AIM: ARG.L), the Falkland Islands based exploration company focused on the North Falkland Basin, is pleased to report encouraging progress on the processing and interpretation of its recently acquired 3D seismic data over its 100% owned licence PL001. In April 2011, the Company announced the completion of the acquisition of 1,415 net square kilometres of 3D seismic data, including coverage over the entire licence area, a halo outside the licence boundaries and tie-ins to key wells. The 3D data covering the northeastern quarter of the licence was prioritised to be processed on a fast-track basis. This processing was completed in May and interpretation of the data is now well advanced. The structural prospects Zeus and Demeter have been confirmed and are considered to be robust closures. In the Competent Person's Report of June 2010 these prospects were attributed Best Estimates of unrisked prospective resources of 258 mmb and 63 mmb of oil respectively, based on 2D seismic data. New stratigraphic prospects and leads have also been identified and are subject to ongoing detailed mapping. One of the principal features of the northern part of the North Falkland Basin in the vicinity of licence PL001 is the presence of a major delta system that has prograded southwards across the licence area, but does not appear to extend beyond the southern boundary of the licence. This delta is at least age-equivalent to the organic rich oil source rock, the presence of which can be mapped with improved confidence across the licence area. The 3D data quality over the delta is excellent and the Company is now using that data to identify new stratigraphic prospects in what is expected to be a sand-prone deltaic sequence. The fast track processing results have been so encouraging that the Company has commissioned similar fast track projects on the southeastern quarter and western half of its licence, with results due for interpretation in July and August respectively. The final processed data for the entire survey area is due around year end.

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03 May 2011

ARGOS RESOURCES LIMITED

("Argos" or "the Company")

Environment Impact Statement



Argos Resources Limited (AIM: ARG.L), the Falkland Islands based exploration company focused on the North Falkland Basin, is pleased to announce that its Environment Impact Statement (EIS) was submitted to the Falkland Island Government on the 2nd of May 2011. There now follows a statutory 42 day period of public consultation.

The EIS has been produced following a thorough Environmental Impact Assessment carried out for the Company by RPS Energy and the Marine Resource Assessment Group. That work has assessed the potential impact of exploration drilling on the existing environment within the Company licence acreage and along the adjacent coastlines. Data on year round environmental sensitivities were collected and are analysed within the EIS. The EIS document can be downloaded from the Argos Resources website at http://www.argosresources.com/docs/ARG-EIS-May-2011.pdf

Commenting on this progress, Ian Thomson, Chairman of Argos, said:

"The submission of an Environmental Impact Statement and its acceptance by the Falkland Island Government is a pre-drilling requirement and, upon approval by the Government, will take the Company another step closer towards being ready for drilling operations in the North Falkland Basin in Q4 2011 or early 2012."