Rockhopper Exploration ehemals FALKLAND OIL & GAS +++ 270% mit Öl (Seite 131)
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Antwort auf Beitrag Nr.: 41.296.086 von sonnenstern2709 am 31.03.11 13:17:14Diese Nachricht ist perfekt, nothing more nothing less.
Keine Kapitalerhöhung mehr, ein Rig in Aussicht und BHP zahlt alles.
Klar, finden sie kein Öl, dann bleibt verbrannte Erde, aber das Chance-Risiko-Verhältnis war nie besser.
lassevegas
Keine Kapitalerhöhung mehr, ein Rig in Aussicht und BHP zahlt alles.
Klar, finden sie kein Öl, dann bleibt verbrannte Erde, aber das Chance-Risiko-Verhältnis war nie besser.
lassevegas
BHP Billiton (LON:BLT) has decided to pull out of its Falklands oil exploration joint venture, but it could still keep a stake in the Loligo prospect.
The company previously pulled out of the southern licences after the unsuccessful Toroa well, which was drilled in early 2010. Now it is pulling out of the northern licences as well, which effectively ends the joint venture.
This morning Falkland Oil and Gas Ltd (LON:FOGL), BHP’s JV partner, told investors that although the mining group has pulled out of the venture it will still contribute towards the costs of drilling the Loligo well, by placing funds in an escrow account.
Now Billiton’s 51 percent stake in the project will revert back to FOGL who will then have full ownership of both the northern and southern licences.
Billiton retains the right to ‘back-in’ to the Loligo prospect should the upcoming well find hydrocarbons, this covers the Loligo development area only. It would have a maximum stake of 40 percent and it would have to contribute funds to future exploration and appraisal work.
FOGL also said it is close to finalising a rig contract for the deep-water drilling programme, which will include the Loligo well.
"We are pleased to have made good progress in our rig contract negotiations and to have reached an amicable agreement with our joint venture partner that gives FOGL control over its deepwater exploration programme, commencing with the drilling of the Loligo prospect," FOGL chief executive Tim Bushell said.
The AIM-listed explorer said that it now has cash resources of US$110 million, including the funds provided by Billiton. It said that this will be sufficient to fund the Loligo well and it will fulfil the Phase 1 work commitment for the Northern licence area.
Furthermore FOGL also said it is also considering other drilling options and its site survey programme is progressing well.
It said that it is considering the most appropriate means of financing and advancing these options, and it is in talks with several parties that are interested in farming into the licences.
The company previously pulled out of the southern licences after the unsuccessful Toroa well, which was drilled in early 2010. Now it is pulling out of the northern licences as well, which effectively ends the joint venture.
This morning Falkland Oil and Gas Ltd (LON:FOGL), BHP’s JV partner, told investors that although the mining group has pulled out of the venture it will still contribute towards the costs of drilling the Loligo well, by placing funds in an escrow account.
Now Billiton’s 51 percent stake in the project will revert back to FOGL who will then have full ownership of both the northern and southern licences.
Billiton retains the right to ‘back-in’ to the Loligo prospect should the upcoming well find hydrocarbons, this covers the Loligo development area only. It would have a maximum stake of 40 percent and it would have to contribute funds to future exploration and appraisal work.
FOGL also said it is close to finalising a rig contract for the deep-water drilling programme, which will include the Loligo well.
"We are pleased to have made good progress in our rig contract negotiations and to have reached an amicable agreement with our joint venture partner that gives FOGL control over its deepwater exploration programme, commencing with the drilling of the Loligo prospect," FOGL chief executive Tim Bushell said.
The AIM-listed explorer said that it now has cash resources of US$110 million, including the funds provided by Billiton. It said that this will be sufficient to fund the Loligo well and it will fulfil the Phase 1 work commitment for the Northern licence area.
Furthermore FOGL also said it is also considering other drilling options and its site survey programme is progressing well.
It said that it is considering the most appropriate means of financing and advancing these options, and it is in talks with several parties that are interested in farming into the licences.
FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands announces further progress on its rig contract negotiations and certain changes to its licence arrangements.
Rig contract close to finalisation
Further to our announcement on 15 March, the company is close to finalising a rig contract for its deep water exploration programme.
Changes to licence arrangements
On 30 March 2011 FOGL signed a binding Heads of Agreement with our joint venture partner, BHP Billiton that provides for the exit of BHP Billiton from the Northern licence area once certain conditions have been satisfied, including approval of the Falkland Islands Government to both the assignment of BHP Billiton's 51% interest and transfer of operatorship to FOGL.
In relation to this withdrawal BHP Billiton will contribute towards the costs of drilling the Loligo well, by placing funds in an escrow account. The funds are to be drawn by FOGL against the costs of drilling the Loligo well. In the event that the Loligo well encounters hydrocarbons, BHP Billiton will have the option to back in to the Loligo development area only, for a maximum 40% non-operating interest in the discovery, in return for making a cash contribution to FOGL's future exploration and appraisal costs. Such a reassignment of interests will also be subject to approval by the Falkland Islands Government.
The settlement with BHP Billiton will, together with other funds available to FOGL, provide FOGL with total cash resources of US$110 million. These cash resources will be sufficient to fund the Loligo well, other exploration expenditures and allow the Company to fulfil the Phase 1 work commitment of the Northern licence area.
Operations
FOGL is also considering additional drilling options. The site survey programme is progressing well, with surveys already completed on three locations. FOGL is considering the most appropriate means of financing and advancing these options and is in discussion with several parties that are interested in farming in to our licences.
Tim Bushell, Chief Executive of FOGL, said:
"We are pleased to have made good progress in our rig contract negotiations and to have reached an amicable agreement with our joint venture partner that gives FOGL control over its deepwater exploration programme, commencing with the drilling of the Loligo prospect".
Rig contract close to finalisation
Further to our announcement on 15 March, the company is close to finalising a rig contract for its deep water exploration programme.
Changes to licence arrangements
On 30 March 2011 FOGL signed a binding Heads of Agreement with our joint venture partner, BHP Billiton that provides for the exit of BHP Billiton from the Northern licence area once certain conditions have been satisfied, including approval of the Falkland Islands Government to both the assignment of BHP Billiton's 51% interest and transfer of operatorship to FOGL.
In relation to this withdrawal BHP Billiton will contribute towards the costs of drilling the Loligo well, by placing funds in an escrow account. The funds are to be drawn by FOGL against the costs of drilling the Loligo well. In the event that the Loligo well encounters hydrocarbons, BHP Billiton will have the option to back in to the Loligo development area only, for a maximum 40% non-operating interest in the discovery, in return for making a cash contribution to FOGL's future exploration and appraisal costs. Such a reassignment of interests will also be subject to approval by the Falkland Islands Government.
The settlement with BHP Billiton will, together with other funds available to FOGL, provide FOGL with total cash resources of US$110 million. These cash resources will be sufficient to fund the Loligo well, other exploration expenditures and allow the Company to fulfil the Phase 1 work commitment of the Northern licence area.
Operations
FOGL is also considering additional drilling options. The site survey programme is progressing well, with surveys already completed on three locations. FOGL is considering the most appropriate means of financing and advancing these options and is in discussion with several parties that are interested in farming in to our licences.
Tim Bushell, Chief Executive of FOGL, said:
"We are pleased to have made good progress in our rig contract negotiations and to have reached an amicable agreement with our joint venture partner that gives FOGL control over its deepwater exploration programme, commencing with the drilling of the Loligo prospect".
alles was demnächst fehlt ist nur noch ein !!!! einziges positives Bohrergebniss von den Inseln.>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
und dann steppt der Bär.
und dann steppt der Bär.
Trading Spotlight
Falklands Oil Exploration: New wave of drilling may refresh interest in frontier oil play
Tue 2:15 pm by Jamie Ashcroft
Falklands Oil Exploration: New wave of drilling may refresh interest in frontier oil play
Interest in the Falklands oil exploration story has subsided in recent months, surpassed somewhat by fresh blue-chip backed drill campaigns in Africa, South America and the North Sea.
Drilling began just over a year ago in the isolated waters in and around the Falkland Islands. Several high-profile wells have been drilled but for all last year’s excitement and effort the results disappointed. However the next wave of drilling may lure investors back into the South Atlantic exploration frontier.
Yesterday Rockhopper Exploration (LON:RKH) - the only firm to make a bona fide discovery in the Falklands - told investors that it will drill three more wells with the Ocean Guardian rig, once Desire Petroleum (LONES) completes its final well in the programme.
Then this morning Falklands Oil & Gas (LON:FOGL) confirmed that its negotiations to secure a deep-water rig have reached an advanced stage. It has a tie-up with BHP Billiton (LONLBLT) over deep-water prospects in the northern licenses in the South Falklands Basin.
Richard Rose, oil analyst at Oriel Securities, reckons the talks are being held with neighbouring explorer Borders & Southern (LON:BORS) - who have already signed up the Eirik Raude rig to start work on its licences during the summer. Once a rig is in place, FOGL and BHP will initially focus on the Loligo prospect.
“The shares have been weak recently in-line with a soft market for AIM E&P stocks and not helped by a lack of confirmation of firm rig slots following Borders' rig announcement in November last year,” Rose said in a note to clients.
“However, the pullback represents a clear buying opportunity in our view and we highlight that the upside from Loligo alone in the event of success is greater than £60.00 pence a share.”
Meanwhile in the North Falkland basin the Ocean Guardian rig is currently drilling an appraisal well on Rockhopper’s Sea Lion discovery. The 14/10-4 appraisal well spudded in mid-February and it is being drilled to around 3,000 metres.
The rig will then move on to Desire Petroleum (LONES) in April. Desire will then drill the Ninky prospect before passing the rig back to Rockhopper in May, so it can drill the three extra wells.
Tue 2:15 pm by Jamie Ashcroft
Falklands Oil Exploration: New wave of drilling may refresh interest in frontier oil play
Interest in the Falklands oil exploration story has subsided in recent months, surpassed somewhat by fresh blue-chip backed drill campaigns in Africa, South America and the North Sea.
Drilling began just over a year ago in the isolated waters in and around the Falkland Islands. Several high-profile wells have been drilled but for all last year’s excitement and effort the results disappointed. However the next wave of drilling may lure investors back into the South Atlantic exploration frontier.
Yesterday Rockhopper Exploration (LON:RKH) - the only firm to make a bona fide discovery in the Falklands - told investors that it will drill three more wells with the Ocean Guardian rig, once Desire Petroleum (LON
ES) completes its final well in the programme.Then this morning Falklands Oil & Gas (LON:FOGL) confirmed that its negotiations to secure a deep-water rig have reached an advanced stage. It has a tie-up with BHP Billiton (LONLBLT) over deep-water prospects in the northern licenses in the South Falklands Basin.
Richard Rose, oil analyst at Oriel Securities, reckons the talks are being held with neighbouring explorer Borders & Southern (LON:BORS) - who have already signed up the Eirik Raude rig to start work on its licences during the summer. Once a rig is in place, FOGL and BHP will initially focus on the Loligo prospect.
“The shares have been weak recently in-line with a soft market for AIM E&P stocks and not helped by a lack of confirmation of firm rig slots following Borders' rig announcement in November last year,” Rose said in a note to clients.
“However, the pullback represents a clear buying opportunity in our view and we highlight that the upside from Loligo alone in the event of success is greater than £60.00 pence a share.”
Meanwhile in the North Falkland basin the Ocean Guardian rig is currently drilling an appraisal well on Rockhopper’s Sea Lion discovery. The 14/10-4 appraisal well spudded in mid-February and it is being drilled to around 3,000 metres.
The rig will then move on to Desire Petroleum (LON
ES) in April. Desire will then drill the Ninky prospect before passing the rig back to Rockhopper in May, so it can drill the three extra wells.
Thursday, March 17th 2011 - 05:30 UTC
FOGL has identified large prospects for exploration in the South Falkland Basin
London listed Falkland Oil and Gas says that its negotiations to secure a deep water rig are at an advanced stage as it seeks to drill the large prospects it has identified across the South Falkland Basin.
CEO Richard Liddell said 2010 was a “landmark year” for the company
The company said securing the rig was its key focus as it seeks to unlock the potential of its deepwater prospects and it was “looking forward with much anticipation” for the drilling campaign to get underway.
The announcement came as the company reported its full-year results for 2010, in what chairman Richard Liddell hailed a “landmark year” for the company.
It saw Falkland Oil and Gas drill the first exploration well in the East Falklands Basin. While the result of Toroa wasn't desirable, with the company failing to find hydrocarbons, it dubbed it an “attractive target for initial drilling” and said it had provided it with “valuable information to plan future wells”.
FOGL invested 21.8 million in its exploration program off the Falkland Islands, compared to 12.9 million the year before, which included 19.7 million to drill the Toroa wildcat.
On the Southern Licence area, having fulfilled the phase 1 work commitment with the drilling of Toroa, the second phase began at the start of December 2010.
Partner BHP Billiton elected not to enter the second phase and subsequently assigned its 51% of the southern licence area and operator-ship to Falkland Oil and Gas.
In order to garner further drilling options across its acreage, the company is currently undertaking a site survey program, covering a number of separate sites and two new prospects.
In addition, it may elect to acquire up to 1,300 kilometres of new 2D seismic data, using the same vessel.
The update came as the company said it had slashed its full-year pre-tax losses to 3.7 million US dollars from 5.5 million a year earlier.
Its cash balance stood at 69.8 million USD as of 31 December.
FOGL has contracted Gardline Ltd to undertake site surveys over its licensed acreage.
The Gardline vessel, Ocean Endeavour is currently on location in the South Falkland Basin and will survey a number of separate locations.
Five companies are currently involved in hydrocarbons exploration in Falklands’ waters: Desire Petroleum, Rockhopper Exploration, Borders & Southern, Argos Resources and FOGL.
http://en.mercopress.com/2011/03/17/fogl-has-identified-larg…
FOGL has identified large prospects for exploration in the South Falkland Basin
London listed Falkland Oil and Gas says that its negotiations to secure a deep water rig are at an advanced stage as it seeks to drill the large prospects it has identified across the South Falkland Basin.
CEO Richard Liddell said 2010 was a “landmark year” for the company
The company said securing the rig was its key focus as it seeks to unlock the potential of its deepwater prospects and it was “looking forward with much anticipation” for the drilling campaign to get underway.
The announcement came as the company reported its full-year results for 2010, in what chairman Richard Liddell hailed a “landmark year” for the company.
It saw Falkland Oil and Gas drill the first exploration well in the East Falklands Basin. While the result of Toroa wasn't desirable, with the company failing to find hydrocarbons, it dubbed it an “attractive target for initial drilling” and said it had provided it with “valuable information to plan future wells”.
FOGL invested 21.8 million in its exploration program off the Falkland Islands, compared to 12.9 million the year before, which included 19.7 million to drill the Toroa wildcat.
On the Southern Licence area, having fulfilled the phase 1 work commitment with the drilling of Toroa, the second phase began at the start of December 2010.
Partner BHP Billiton elected not to enter the second phase and subsequently assigned its 51% of the southern licence area and operator-ship to Falkland Oil and Gas.
In order to garner further drilling options across its acreage, the company is currently undertaking a site survey program, covering a number of separate sites and two new prospects.
In addition, it may elect to acquire up to 1,300 kilometres of new 2D seismic data, using the same vessel.
The update came as the company said it had slashed its full-year pre-tax losses to 3.7 million US dollars from 5.5 million a year earlier.
Its cash balance stood at 69.8 million USD as of 31 December.
FOGL has contracted Gardline Ltd to undertake site surveys over its licensed acreage.
The Gardline vessel, Ocean Endeavour is currently on location in the South Falkland Basin and will survey a number of separate locations.
Five companies are currently involved in hydrocarbons exploration in Falklands’ waters: Desire Petroleum, Rockhopper Exploration, Borders & Southern, Argos Resources and FOGL.
http://en.mercopress.com/2011/03/17/fogl-has-identified-larg…
Driller thriller
Created: 10 March 2011 Written by: Martin Li
Oil and gas explorers provide one of the fastest routes to triple-digit returns. Although picking the winners can be difficult, previous successes have left many clues to the signs to look for.
In part two of this feature, we look at seven of the hottest exploration shares .
READ MORE...
To read part two, you can either buy today's issue of the Investors Chronicle magazine (cover date: 11-17 Mar) and read the feature in full, or you can read it online now if you are an
Each one has the credentials – large prospects, funding and imminent drilling – that could transform it into the next Rockhopper, Bowleven or Xcite Energy.
What's more, one of the strongest share price triggers is expected to fire on two of these companies over the coming few weeks.
http://www.investorschronicle.co.uk/InvestmentGuides/Shares/…
Seven oil shares that could rocket
Created: 11 March 2011 Written by: Martin Li
Borders & Southern (BOR)/ Falkland Oil & Gas (FOGL)
Oil exploration in the Falklands got off to a flying start when the second well drilled in last year's campaign struck millions of barrels of oil for Rockhopper Exploration, and propelled its shares up six-fold.
After such an encouraging start, it's hugely disappointing that subsequent drilling has added no further discoveries, which threatens to leave Rockhopper's Sea Lion success isolated although possibly still commercial.
However, despite disappointing recent drilling, the Falklands story is far from over. Drilling to date has concentrated on the North Falkland basin, and while drilling there is continuing, focus will switch later this year to the distinct South Falkland basin, which has only ever been drilled once and holds targets believed to be an order of magnitude of larger (1bn-3bn barrels of oil) than those in the north (500m-1.2bn barrels).
Falkland Oil & Gas and its partner BHP Billiton drilled a dry well in the South basin last year.
However, this wasn't one of their top prospects and was chosen as much for the fact it could be drilled using same the rig operating in the northern basin as for its prospectivity.
FOGL and BHP have been searching for a suitable deepwater rig to drill their primary prospects in the South basin, but were beaten to securing a rig by Borders & Southern, the other junior company exploring in the South Falkland basin.
Borders has signed a contract for the Eirik Raude, a dynamically positioned, harsh environment semi-submersible rig.
On completion of the rig's current contract in West Africa in October, it will mobilise to the Falklands to drill a two-well programme for Borders, with up to three option wells.
Although nothing has been stated publicly, it would seem unlikely that Borders hasn't had discussions with FOGL and BHP to allow them to share the rig and associated costs.
Borders and FOGL are classic binary exploration plays, albeit the return on success is unusually high. Given the size of the prospects being targeted, analysts at Goldman Sachs estimate that Borders could re-rate by over 1,500 per cent if its two wells prove successful, although the downside could be as much as 85 per cent on failure, unless drilling provides enough encouragement for follow-on wells. FOGL could offer even greater upside.
The Goldman analysts estimate that its Loligo prospect alone carries upside of around 1,700 per cent, with similar downside risks to Borders should the wells prove dry.
Borders & Southern
Share price: 60.75p Market capitalisation: £260m
What could transform the share price: Drilling success
Broker target price: 121p (Goldman Sachs, 31 Jan 2011)
Falkland Oil & Gas
Share price: 80p Market capitalisation: £117m
What could transform the share price: Drilling success
Broker target price: 208p (Goldman Sachs, 31 Jan 2011)
Created: 10 March 2011 Written by: Martin Li
Oil and gas explorers provide one of the fastest routes to triple-digit returns. Although picking the winners can be difficult, previous successes have left many clues to the signs to look for.
In part two of this feature, we look at seven of the hottest exploration shares .
READ MORE...
To read part two, you can either buy today's issue of the Investors Chronicle magazine (cover date: 11-17 Mar) and read the feature in full, or you can read it online now if you are an
Each one has the credentials – large prospects, funding and imminent drilling – that could transform it into the next Rockhopper, Bowleven or Xcite Energy.
What's more, one of the strongest share price triggers is expected to fire on two of these companies over the coming few weeks.
http://www.investorschronicle.co.uk/InvestmentGuides/Shares/…
Seven oil shares that could rocket
Created: 11 March 2011 Written by: Martin Li
Borders & Southern (BOR)/ Falkland Oil & Gas (FOGL)
Oil exploration in the Falklands got off to a flying start when the second well drilled in last year's campaign struck millions of barrels of oil for Rockhopper Exploration, and propelled its shares up six-fold.
After such an encouraging start, it's hugely disappointing that subsequent drilling has added no further discoveries, which threatens to leave Rockhopper's Sea Lion success isolated although possibly still commercial.
However, despite disappointing recent drilling, the Falklands story is far from over. Drilling to date has concentrated on the North Falkland basin, and while drilling there is continuing, focus will switch later this year to the distinct South Falkland basin, which has only ever been drilled once and holds targets believed to be an order of magnitude of larger (1bn-3bn barrels of oil) than those in the north (500m-1.2bn barrels).
Falkland Oil & Gas and its partner BHP Billiton drilled a dry well in the South basin last year.
However, this wasn't one of their top prospects and was chosen as much for the fact it could be drilled using same the rig operating in the northern basin as for its prospectivity.
FOGL and BHP have been searching for a suitable deepwater rig to drill their primary prospects in the South basin, but were beaten to securing a rig by Borders & Southern, the other junior company exploring in the South Falkland basin.
Borders has signed a contract for the Eirik Raude, a dynamically positioned, harsh environment semi-submersible rig.
On completion of the rig's current contract in West Africa in October, it will mobilise to the Falklands to drill a two-well programme for Borders, with up to three option wells.
Although nothing has been stated publicly, it would seem unlikely that Borders hasn't had discussions with FOGL and BHP to allow them to share the rig and associated costs.
Borders and FOGL are classic binary exploration plays, albeit the return on success is unusually high. Given the size of the prospects being targeted, analysts at Goldman Sachs estimate that Borders could re-rate by over 1,500 per cent if its two wells prove successful, although the downside could be as much as 85 per cent on failure, unless drilling provides enough encouragement for follow-on wells. FOGL could offer even greater upside.
The Goldman analysts estimate that its Loligo prospect alone carries upside of around 1,700 per cent, with similar downside risks to Borders should the wells prove dry.
Borders & Southern
Share price: 60.75p Market capitalisation: £260m
What could transform the share price: Drilling success
Broker target price: 121p (Goldman Sachs, 31 Jan 2011)
Falkland Oil & Gas
Share price: 80p Market capitalisation: £117m
What could transform the share price: Drilling success
Broker target price: 208p (Goldman Sachs, 31 Jan 2011)
Antwort auf Beitrag Nr.: 41.111.391 von Andrija am 26.02.11 13:35:11Im Norden läuft die Lizenz Ende dieses Jahres aus, im Süden ist nach der Toroa-Bohrung nun theoretisch Zeit bis Ende 2015.
Antwort auf Beitrag Nr.: 41.109.236 von BReal am 25.02.11 18:45:07Gebe Dir Recht, vermutlich gibt es sogar keine Alternative zur KE da die Lizenz (auch im Süden?) doch Ende des Jahres ausläuft.
Insofern muss man wohl aufgrund der aktuellen Falklandkurse nicht gerade in FOGL investieren. Bis auf Desire haben alle anderen genug Cash für ein paar Fehlbohrungen.
Insofern muss man wohl aufgrund der aktuellen Falklandkurse nicht gerade in FOGL investieren. Bis auf Desire haben alle anderen genug Cash für ein paar Fehlbohrungen.
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