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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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5 Jun 2015 14:26

Falkland oil driller to press on despite Argentina legal threat

LONDON, June 5 (Reuters) - Falkland Oil and Gas plans to continue drilling into next year, its chief executive said, defying legal threats made by the Argentine government against oil explorers in the Falkland Islands. A group of oil drillers, which also include Premier Oil , Edison, Noble

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5 Jun 2015 05:21

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4 Jun 2015 15:22

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3 Jun 2015 15:03

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1 Jun 2015 05:00

RPT-UPDATE 1-Rare run of oil finds is little respite for price-hit explorers

(Repeats May 29 story with no changes) * Seven oil and gas discoveries made in recent weeks * 2015 still expected to see lowest discoveries on record * Exploration companies slash budgets after oil collapse * Graphic on oil discoveries: http://link.reuters.com/ted84w By Ron B

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29 May 2015 14:19

UPDATE 1-Rare run of oil finds is little respite for price-hit explorers

* Seven oil and gas discoveries made in recent weeks * 2015 still expected to see lowest discoveries on record * Exploration companies slash budgets after oil collapse * Graphic on oil discoveries: http://link.reuters.com/ted84w (Adds table, corrects spelling in paragraph 18) By

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29 May 2015 13:10

Rare run of oil finds is little respite for price-hit explorers

* Seven oil and gas discoveries made in recent weeks * 2015 still expected to see lowest discoveries on record * Exploration companies slash budgets after oil collapse * Graphic on oil discoveries: http://link.reuters.com/ted84w By Ron Bousso LONDON, May 29 (Reuters)

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28 May 2015 07:46

Premier, Rockhopper and Falkland gain on Isobel Deep oil discovery

Shares in Premier Oil, Rockhopper Exploration and Falkland Oil & Gas gained on Thursday after the companies announced an oil discovery at the Isobel Deep exploration well in the North Falkland Basin, approximately 30km south of the Sea Lion field. Falkland Oil & Gas and Rockhopper are partners in th

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