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Broker snap: Merchant Secs initiates Falkland Oil at buy

Fri, 18th May 2012 11:54

In a research note issued this morning analysts at Merchant Securities initiate coverage of Falklands Oil and Gas with a buy recommendation and a 400p price target. For them this company, "holds the best exploration acreage in the Falkland Islands because its prospects are larger than elsewhere, yet we believe the exploration risks are not greater than elsewhere in the region." More specifically, they believe that the Loligo prospect is likely to be a condensate prospect, just as the Borders & Southern discovery at Darwin was a condensate discovery. They have modelled the prospect based on their estimate that, if successful, it could produce 2.0bn barrels of condensate, which compares to FOGL's estimate of 4.7bn barrels of oil equivalent. Loligo is likely to commence drilling around the end of June or early July 2012 with results announced about 8 weeks later. As well, they anticipate a 'pre-drill catalyst' in that they expect that prior to drilling Loligo the company will farm out 25% of its licence areas to a currently undisclosed party pursuant to a farm-in option agreement. FOGL would receive $60m in cash if the option is exercised in accordance with the base case of the agreement. As of 11:46AM shares of Falkland Oil&Gas are trading flat at 81.25p.AB
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30 Jun 2015 11:38

UK Condemns Argentina For Trying To "Destroy Falklands Economy"

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29 Jun 2015 21:22

UPDATE 2-UK slams Argentine plan to seize Falklands oil driller assets

(Adds quotes from British foreign office minister) By Andrew Osborn and William James LONDON, June 29 (Reuters) - Britain on Monday accused Argentina of a politically motivated and illegal attack on the nascent oil industry around the disputed Falkland Islands, after Buenos Aires said

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29 Jun 2015 09:54

WINNERS & LOSERS: Safe Haven Demand Sends Gold Miners Higher

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29 Jun 2015 09:12

PRESS: Argentina Judge Orders Seizure Of Falkland Oil Assets - BBC

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28 Jun 2015 19:29

Argentina will pursue judge order on Falklands drillers- minister

BUENOS AIRES, June 28 (Reuters) - Argentina will pursue in Britain and the United States a local judge's order to seize assets of oil drillers operating in the disputed Falklands Islands, the foreign minister said in an interview published in local media on Sunday. On Saturday, a federal ju

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28 Jun 2015 10:13

Argentine judge orders seizure of assets of companies operating in the Falklands

A judge in Argentina has ordered the seizure of the assets of five oil companies operating in the Falklands Islands, including those owned by Premier Oil, Falkland Oil and Gas and Rockhopper Exploration. The order, which was made by Tierra del Fuego judge Lilian Herraez, also named Noble Energy and

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27 Jun 2015 19:49

UPDATE 1-Argentine judge orders seizure of Falklands drillers' assets

(Adds reaction comment) BUENOS AIRES, June 27 (Reuters) - An Argentine judge ordered the seizure of assets of oil drilling companies operating in the disputed Falklands Islands on Saturday, as rhetoric heats up before October elections. Lilian Herraez, a federal judge in Tierra del Fu

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27 Jun 2015 16:45

Argentine judge orders seizure of Falklands drillers' assets

BUENOS AIRES, June 27 (Reuters) - An Argentine judge ordered the seizure of assets of oil drilling companies operating in the disputed Falklands Islands on Saturday, as rhetoric heats up before October elections. Lilian Herraez, a federal judge in Tierra del Fuego, ordered the seizure of $1

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15 Jun 2015 14:17

Falkland Oil and Gas begins drilling on Humpback well

Falkland Oil and Gas has begun drilling on the Humpback exploration well located on licence PL012, in which the firm has a 52.5% working interest. Humpback is located within a cluster of similar prospects, which have a total combined prospective resource of more than 1bn barrels of oil. The well is

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15 Jun 2015 08:06

Falkland Oil and Gas Says Well Started On One Of Its Licences

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10 Jun 2015 07:26

LONDON MORNING BRIEFING: Standard Chartered Up Ahead Of Osborne Speech

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10 Jun 2015 05:30

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9 Jun 2015 14:36

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9 Jun 2015 05:28

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8 Jun 2015 14:56

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