Yahoo has screwed up the boards so much I do not read or post on any board.. This my first in 6 months just to say hello.
I am still long and expect Diomedia to be the catalyst whether gas or oil to move to a profit. It may take 3 years but should be a big winner with the largest gas patch on the planet as a worst case scenario.
Harrior2, I know that FLKOF announced that their Super-Giant 'Loligo' Discovery was/is a natural gas discovery, but information also given in the same press release contradicts a 'gas' discovery... The PR stated:
"The well penetrated six Tertiary aged reservoir objectives on prognosis. These comprise the T1, T1 deep, T2 (Trigg), T2 deep (Trigg deep), T3 (Three Bears) and T5 targets. These objectives had all been identified on the basis of their seismic amplitude responses. Very strong gas shows (C1 to C5) were encountered whilst drilling through each of these horizons."
Gas discoveries have very strong gas shows of C1, perhaps a tiny bit of C2, and no C3-C5... Strong Gas shows of C1-C5 suggest that they have discovered High API Gravity Crude Oil... Which is the best thing that one can hope to find when exploring for Oil & Gas.
Why then did they call it a 'Gas' Discovery? I believe that the British Government encouraged both FLKOF & BDRSF to lead the public to believe they found natural gas (opposed to crude), in an effort to avoid Argentine aggression... Argentina has been trying desperately to claim the Falklands once again, even though they have already lost one war over the islands...
I`m a long time responding as I gave up on yahoo message boards and words vs URLs.
You question the gas discovery but in fact they did find 100TCF which is commercial. The major push is still to find oil as that is no where near as capital intensive as gas. So oil is there and they will find it. In this regard they have now determined where the oil window resides and the porridge that`s just right is Diomedia which is as big as Loligo.
The new seismic will confirm this and the 5 billion barrels in Diomedia alone will provide the capital to develop Loligo and the humongous gas deposits.
So, the political arena is now defined with England as the protector and I will double down when the seimic is made public in expectation of major oil and gas finds and development. Along the way FOGL could be bought out by NE and EDF but Diomedia would be a $500 billion find and the agregate fields account for another 10 billion barrels at today`s $100 oil is an additional trillion dollar adder for any buyout consideration. However, this could be too big to swallow and allow FOGL to remain a partner for the big money.