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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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28 May 2015 07:41

Three companies say discover oil north of the Falkland Islands

LONDON, May 28 (Reuters) - Three oil companies said on Thursday they had discovered oil north of the Falklands, setting up potential further confrontation with Argentina which disputes British sovereignty over the islands. Falkland Oil and Gas (FOGL), Premier Oil and Rockhopper said they h

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28 May 2015 07:32

LONDON MORNING BRIEFING: Germans Deflate Greek Debt Deal Optimism

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28 May 2015 06:53

Premier Oil, Falkland Oil And Rockhopper Make Another Oil Discovery

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19 May 2015 09:08

Rockhopper, Falkland Oil & Gas Give Update On Isobel Deep Well

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12 May 2015 10:39

Falkland Oil & Gas Says Drilling Has Restarted On Isobel Deep Well

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12 May 2015 06:22

Falkland Islands oil explorers resume drilling work after repair

LONDON, May 12 (Reuters) - Oil drillers Falkland Oil and Gas and Rockhopper resumed normal drilling work on Monday at the Isobel Deep well in the Falkland Islands following the repair of a blow-out preventer control system, the companies said. The oil explorers had suspended work on the fi

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1 May 2015 08:29

Falkland Islands Holdings Sells 5 Million Falkland Oil & Gas Shares (ALLISS)

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30 Apr 2015 08:09

Falkland Oil & Gas Pretax Loss Narrows In 2014 After Cost Cutting

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30 Apr 2015 06:28

Falkland Oil and Gas says Argentina legal threats are unlawful

LONDON, April 30 (Reuters) - Oil explorer Falkland Oil and Gas (FOGL) said legal threats made by the Argentine government against oil drillers in the Falkland Islands were unlawful. Argentina lodged a domestic lawsuit this month against five companies, including FOGL, exploring for oil in t

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24 Apr 2015 11:45

Falkland oil drillers suspend work after technical problem

LONDON, April 24 (Reuters) - Oil explorers drilling in the waters surrounding the Falkland Islands have suspended work on the first well of their 2015 drilling campaign after a technical problem, two of the companies involved said on Friday. Oil drilling in the area remains controversial du

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24 Apr 2015 11:15

Premier Oil, Falkland Oil, Rockhopper Experience Isobel Well Problems

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17 Apr 2015 17:50

CORRECTED-UPDATE 2-Argentina launches lawsuit against Falklands oil drillers

(Corrects name for Edison Spa, adds comment) By Karolin Schaps LONDON, April 17 (Reuters) - Argentina announced on Friday it had started legal proceedings in one of its own courts against five companies, including three British, who are drilling for oil and gas off the Falkland Island

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17 Apr 2015 09:13

Argentina launches lawsuit against Falkands oil drillers

LONDON, April 17 (Reuters) - Argentina has started legal proceedings against five companies, including three British firms, which are drilling for oil and gas in the disputed Falkland Islands, raising tensions in a diplomatic row over the islands' sovereignty. Argentina's minister for the F

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14 Apr 2015 17:33

Tuesday tips round-up: Aviva, Falkland Oil and Gas

The Tempus column in The Times has labelled new-look Aviva as a 'buy' following the insurer's now-completed takeover of Friends Life, saying that the enlarged group is one of the most high-yielding stocks in the life insurance sector. After each one of the past three chief executive officers at Aviv

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13 Apr 2015 07:51

Falkland Oil & Gas Agrees Drilling Campaign Revision With Partners

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