THIS SHARES OWES ME 26P EACH, HOWEVER THE UPSIDE IS THAT WITH THE FARM OUT DEAL THE COMPANY CANNOT LOSE. MUST BE THE ONLY SHARE LIKE IT ALSO WITH THE COMPANY BEING A FALKLAND ISLAND COMPANY PERMISSIONS SEEM TO COME MORE EASILY
TARGET PRICE 12.5P FISRT DIVI 2020
IN FIVE YEARS TIME EVEN I WILL BE SHOWING A 100% GAIN
"Argos ResourcesFor a Budget day, the market proved remarkably placid, with the FTSE 100 closing unchanged. While the usual "wait 24 hours" rule will doubtless apply until folk digest what was actually said, we'd submit that should the FTSE trade ..."
" ARGOS RESOURCES (LSE:ARG), GOLD FUTURES, DOW FUTURESÂ For a budget day, the market proved remarkably placid with the FTSE closing unchanged. While the usual "wait 24 hours" rule will doubtless apply until folk digest what was actually said, ..."
This petition was stalled in parliament since 12th Aug 15; finally green lit on 12th feb 2016.
The FCA have finally replied, saying its nothing to do with them as they only deal with market abuse & insider dealing, now is your chance to have your say.
If you hate seeing buys reported as sells etc!!!!!!
Has already been sent to Martin Lewis, Daily Mail, Moneyweek & Watchdog.
My local MP supported this petition by writing to the petitions committee to help un-stall it.
Theres 650 MPs in Westminster, So have you written to your MP? 649 to go!
If this petition doesnt reach 10,000; then imo we might as well have not bothered as it will almost certainly be filed B1N; @ 10,000 the government should respond. ONLY 8 weeks to go !!!
So If you havent yet signed or indeed have but havent passed it on to others, then nows the time to do so.
Just a 3-4 year wait before anything interesting happens. Then there might be a one-well, all-or-nothing blip of trading and, if successful, another 4-5 years of waiting for a dividend that might never come because somebody finally figures out how to make cold fusion economically viable.
thanks to a post on rkh interactive: more news , part extract from UN press release referred to in the UK response to Arg :
''At the plenary level, the Commission adopted, without a vote, two sets of recommendations, namely the recommendations in respect to the submission made by Argentina, and the recommendations in respect to the submission made by Iceland in respect of the Ægir Basin area and in the western and southern parts of Reykjanes Ridge. With regard to the recommendations in respect of the submission made by Argentina, it is recalled that, previously, the Commission had already decided that it was not in a position to consider and qualify those parts of the submission that were subject to dispute and those parts that were related to the continental shelf appurtenant to Antarctica (see CLCS/64, paras. 76 and 77 and CLCS/76 para.''
Company will receive future cash payments from Noble Energy Falklands Limited ("Noble") and Edison International S.p.A ("Edison") which will be sufficient to meet its ongoing running costs until first oil production.
"Due to operational issues with the rig, ........"
Be interesting to find out what the "operational issues" actually were which justified Noble being able to invoke force majeure, usually confined to Act of God, political shenanigans and other impersonal events.
Moderation in all things.
Today is possibly a set back for today, this month etc but longer term? I do wonder what would have happened had the Rhea stack come in dry. Perhaps Noble would have done a FOGL and left Argos to it returning the acreage?
Today they have commited to continue paying Argos their agreed fee and are presumably planning to return in due course with a different rig. Who knows when that might be? Rigs however at the moment are cheap and given that Noble are top heavy with North American shale assets they may want to diversify ASAP? They might even have been considering their options since the FOGL drill? Obviously they will want value for money. That would likely as not mean drilling several prospects with this drill which eill in turn increase the overall chance of success for them, and Argos too.
Every cloud, and the shares are cheap now too.... even better.
Noble might still take the rig if the contract was tight enough - reduced rates?
Refuse to take the rig? They'd then either have to find another rig or ask the Falkland Islands Government for an extension to the contractual time window that they have to drill or get out of the Falklands and hand it back to Argos.
I can't see them dropping the Falklands, at least not the North Basin, there's just too much oil all over the place. I think they'll seek an extension and then bring another rig down to drill Rhea and a few other of the better prospects too. In the long run that might well be a good thing and actually bring the ultimate goal (oil and income) forward.
Argos have a guarenteed income stream whilst this is all happening. Over time the only thing that will happen is that the North Falkland Basin oil will be developed and our area will look increasingly irresistable to Noble or whoever. The SP is as low as ever. Buy and hold (and hold) but it will come good.
It looks like the ER rig may be put out to grass early. I wonder what Noble will do? If they need to mobilise a rig to replace the ER I guess it would at least be nice and cheap now and they may want a pop at more than Rhea?
If they don't I wonder where we stand with our commitment to the Falkland Islands government to drill this year?
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