Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Falkland Oil & Gas – busts its Hump for nothing

By Ben Turney

29 October 2015 06:48

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Disastrous news overnight from Noble Energy, the operator of the Humpback exploration well off the Falkland Islands, has sent shares in Falkland Oil & Gas (FOGL) crashing. Having hit target depth of 5,136meters, Noble’s drill encountered oil and gas, but in non-commercial quantities. This included the primary APX-200 target. Noble is now plugging and abandoning Humpback, leaving shareholders in Falkland Oil to lick their wounds. At 12.07p (last seen), the company’s share price is off 40.5% on the day. Is this a buying opportunity or should investors rush for the exit, salvaging what they can?

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Comments

johng

29 October 2015, 08:03

If you want to see how Water Mitty Chris Oil is spending his time on advfn, wrt to the FOGL news (“Undervalued Companies” is his handle) :

http://uk.advfn.com/forum/search?q=Undervalued%20Companies&index=posts&post_poster=on

pretty sick character.
Tim reynolds

29 October 2015, 08:46

Next drill is step out from isobel fogl are free carried by pmo nothing to do with noble . Noble drill rhea afterwards but im not sure fogl are involved there .
Abdiel

29 October 2015, 12:38

@ Johng, seems a bit suss. 99% sure its him as well.
Just read much of the post history and I feel a bit guilty, and dirty, its like watching an old time freak show.