| al_sting - Sonntag, 11. November 2007 - 23:51 |
| BHP Billiton will möglichweise Rio Tinto übernehmen und könnte zur Finanzierung dieses Deals die Öl-Sparte zum Verkauf stellen. Das könnte sich negativ auf die Partnerschaft mit FOGL auswirken, falls BHP handlungsunfähigwird oder sich die Prioritäten des neuen Besitzers ändern: BHP considers $40billion sale of petroleum arm Louise Armitstead and Dominic O’Connell THE board of BHP Billiton, the world’s largest mining group, is considering the sale of one of its largest subsidiaries, BHP Petroleum, to help finance a hostile takeover of Rio Tinto. BHP’s financial advisers, Goldman Sachs and Citigroup, are understood to have already flown out to China to sound out potential bidders for the subsidiary, which could be worth more than £20 billion. There would also be interest in the oil and gas fields from other international buyers. Analysts say the petroleum division has always sat uncomfortably in the groupp’s portfolio and a sale would be welcomed by the City. However no decision to sell BHP Petroleum has yet been made. This weekend BHP is considering whether to table a hostile, all-paper £81 billion bid for Rio. The company is arranging a $70 billion bank facility through Citi to refinance some of Rio’s debts should a takeover be successful. Some $30 billion of this sum could be used as a cash sweetener to encourage Rio shareholders to sell out. But Rio is not expected to go quietly. Tom Albanese, chief executive, is preparing a City charm offensive to outline the hidden value of the company’s international portfolio of mines and development prospects. Sources close to Rio say the board is unlikely to entertain an offer below £70 a share, compared with the £48 value of the current Rio proposal, based on Friday’s closing prices. Rio’s board is also understood to have authorised advisers to begin a preliminary investigation of other potential suitors. Mining giants CVRD and Anglo American are the obvious interlopers, while City sources said a Chinese interest probably in combination with a western mining business could not be ruled out. The approach to Rio, revealed on Thursday after a week of talks between the groups, has captivated the industry and the City. It would be the second-largest takeover deal ever, and create one of the world’s largest companies with a stock-market value of more than £170 billion. The merged group would also have a powerful position in many commodities markets, particularly copper, aluminium, coal, silver and diamonds. Most importantly, it would have a 36% share of world iron-ore production. The deal would unite the major iron-ore mines in Australia under common ownership, and give a strangle-hold over China’s iron-ore imports. China relies on imports of Australian iron-ore to run its steel mills. Competition regulators are expected to take a close interest in the deal. “It won’t just be steelmakers who are up in arms about this it will be car-makers and anyone else that uses steel,” said one industry executive. BHP, however, believes it has done its homework and can satisfy the competition authorities. Sources close to the company denied, however, that it had agreed a behind-the-scenes, long-term supply deal with the Chinese. But the sources said it was prepared to sell some iron-ore assets if required, and that there was likely to be a queue of interested buyers. http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article2846610.ece |
| al_sting - Mittwoch, 28. November 2007 - 11:01 |
| BHP Billiton nutzt seine Option als Farm-In-Partner nur teilweise und stockt auf 51% auf. FOGL scheint weitere Partner zu suchen, um den eigenen Kostenblock zu senken: http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1640334&source=RNS FOGL Partner increases interest in exploration agreement Falkland Oil and Gas Limited (“FOGL”) is pleased to announce that BHP Billiton has decided to exercise its option to increase its interests in FOGL’s 2002 and 2004 licences to the South and East of the Falkland Islands. Highlights: · BHP Billiton will increase its interest to 51% from the 40% announced on 2 October 2007 · FOGL retains a very substantial stake in the licences · BHP Billiton will pay FOGL an additional US$2.75 million in reimbursement of historical costs · The decision by BHP Billiton to increase its interests in our licences further confirms our view of the significant petroleum potential of the South and East Falkland Basins. Details of the agreement: Under the terms of the farm-out agreement announced on 2 October 2007 BHP Billiton had the option to further increase its interest in the licences. BHP Billiton has decided to exercise this option by increasing its interest to 51%. Consequently, BHP Billiton will pay four thirds of 51% (approximately 68%) of the costs of the near term work programme, including the drilling of two exploration wells and all other associated work to the completion of this drilling work. In addition, BHP Billiton will pay FOGL a further US$2.75 million in relation to certain costs already incurred by the company. At end 2007 FOGL’s forecast cash position is £12.2 million (US$25 million). As such, FOGL is now funded through a significant proportion of the near term exploration programme, which will include the drilling of the first two exploration wells. Since announcing the agreement with BHP Billiton, FOGL has had discussions with a number of other parties potentially interested in farming in to the area. FOGL will now look to advance these discussions, but with the clear intent of retaining a material interest in its licences. Tim Bushell, Chief Executive of FOGL commented: BHP Billiton’s decision to increase its interests in our licences further confirms our view that the South and East Falkland basins are highly prospective and have the potential for the discovery of significant volumes of oil and gas. 28 November 2007 Note to investors: FOGL is planning to make an announcement on its 2007 exploration results and operational plans shortly. |
| al_sting - Mittwoch, 5. Dezember 2007 - 10:56 |
| Halbjahresergebnisse von FIH Als Ausschnitt hier Zahlen und Ausblick: Financial Highlights: – Turnover from continuing activities up 3% to £7.5 million (2006: £7.3 million) – Profits before taxation rose 25% to £794,000 (2006: £634,000) – Earnings per share increased 28% to 6.4p (2006: 5p) – Equity shareholders funds at 30 September 2007, reported under IFRS for the first time were £36.9 million up from £24.7 million as at 31 March 2007 – Group’s cash balances remain healthy at £4.9 million – No interim dividend proposed Outlook: – Good start to the year provides confidence for continued growth for the year to March 2008 – Increases in exploration activity and the future drilling campaign are expected to provide opportunities in the Falkland Islands – Continuing to seek suitable acquisition which will enhance shareholder value Der komplette Bericht steht unter http://www.fihplc.com/support/upload/Interim2007rel.pdf Ciao, Al Sting |
| al_sting - Mittwoch, 30. Januar 2008 - 23:36 |
| Am Wochenende in der britischen Times: Secret of treasure islands The Falklands is sitting on deep-sea oil riches that could turn out to be worth a fortune Later this year, the Falklands’ 3,000 islanders should learn whether it will become the richest nation on earth. A floating oil rig will drill up to a dozen test wells deep into the sea bed around the British overseas territory. The findings should settle a decade of speculation over whether the islands lie in a particularly lucrative oil field. Over the past few years, cutting-edge technology has been used to probe the bed for the likely location of black gold. Now the last surveys are drawing to their close, the data is being analysed and interpreted and shortlists of promising possibilities are being drawn up. The oilmen are waiting on the rig to put their educated hunches to the test. Tim Bushell, chief executive of Falkland Oil and Gas Limited (FOGL), says: “There could be billions of barrels of oil but we can’t definitively say until we drill some wells.” The hunt for Falklands oil has been led by four firms that, between them, employ no more than two dozen geologists, legal and financial experts – FOGL has just five employees. Although based in small offices in London, Malvern and Salisbury, each company holds licences to exploit vast swathes of the south Atlantic sea bed. When the search for Falklands oil was first taken up, a consortium of big companies, led by Shell, carried out survey work. In 1998, it drilled a cluster of six test wells. Traces of oil were found, but none of the deposits appeared to be commercially viable. Many, however, felt the matter had remained unresolved. John Brooks, former head of exploration and licensing at the Department of Trade and Industry (now the Department for Business, Enterprise and Regulatory Reform), described Shell’s test wells as “a bit of a tease”, certainly insufficient to write the Falklands off. About six years later, the four smaller players – Desire Petroleum, Borders & Southern Petroleum, Rockhopper Exploration and FOGL – reassessed the geological data, acquired their licences and resumed the hunt. The millions of pounds of investment raised by the firms – Rockhopper alone has attracted £17.9m – have been spent scouring rocks for hints of oil two miles beneath the sea bed in submarine basins to the north and south of the islands. Rockhopper and FOGL have employed a new technique using electromagnetic rather than sound waves to explore the subterranean landscape. The technology is called controlled source electromagnetic (CSEM) surveying, and Rockhopper recently unveiled the first CSEM image of what could prove to be oil in the Falklands area. It shows a patch of high electrical resistance beneath the sea bed at a site called Ernest. This patch could be a pocket of hydrocarbon, surrounded by rock saturated with sea water. “We think that’s oil trapped in that structure,” says Sam Moody, managing director of Rockhopper, based in Salisbury. None of the companies has the resources to do this work themselves. They buy in what they need, when they need it – reflecting a trend towards outsourcing exploration and production throughout the industry. Big companies are retaining fewer in-house technical specialists and increasingly relying on consultants, many of whom are former employees. Small companies do not have the full range of necessary expertise in the first place. “FOGL is more like an informed investment bank than a traditional oil company,” says Bushell. Not only are specialists hired to carry out particular tasks for FOGL, but firms such as RPS, an energy and environmental consultancy, are brought in to manage each subcontracted step of the exploration process. RPS has three staff on a survey ship working in the area, including an observer to ensure that whales and dolphins are not affected. They are supervised, in the field and from the UK, by Jon Perry, a 36-year-old environmental manager. “I am an environmentalist and I try to make concrete changes to how things are done, so that when operations go ahead, they do so in the best possible way,” he says. Perry worked in the oil industry after getting a degree in geophysics at Durham University. He then took a masters degree in environmental impact assessment and has been a consultant ever since. His work with RPS takes him all over the world. Oil exploration can be challenging work. “In the Falklands, rough weather disrupts survey work, while getting to the islands is not easy,” says Bill Patterson, marine projects manager with RPS. “The history with the Argentinians, who still claim the islands 25 years after the war with the UK, makes access from South America difficult.” But the oil companies are in high spirits. Experts at the British Geological Survey (BGS) have estimated that the geological conditions in the North Falkland Basin alone could have created about 100 billion barrels’ worth of oil. Moody says: “We know there’s oil – I’ve seen it myself. The question is whether we find enough to make it commercial.” Phil Richards, who works for the BGS and advises the Falklands Islands’ government, puts the chances of success at between one in five and one in 12. But with the price of oil at a record high and the Falkland Islands charging a corporate tax rate of 25% and royalties of just 9%, the potential rewards make it worth the risk. Moody says a big discovery would boost the value of Rockhopper from about £40m today to more than £500m. The oilmen also calculate that their success might make Falkland Islanders the richest people on earth. http://www.timesonline.co.uk/tol/life_and_style/career_and_jobs/careers_in/careers_in_energy/article3237783.ece |
| al_sting - Donnerstag, 28. Februar 2008 - 15:02 |
| Der im Norden der Falklands tätige Ölexplorer Desire hat jetzt auch einen Farm-In-Partner gefunden - was auch für den Aktienkurs von FIH deutliche Auswirkungen hat. Schließlich nutzt jede Ölbohrung und jeder Ölfund der Wirtschaft auf den Falkland-Inseln und damit der Falkland Islands Holding. |
| al_sting - Montag, 10. März 2008 - 14:28 |
| Der in diesem Artikel erwähnte Farm-In von Desire dürfte für den Aufschwung der letzten Wochen verantwortlich sein. The Falklands: Will there be oil? By Ben Bland Last Updated: 11:45am GMT 10/03/2008 Cynics may still scoff at talk of oil being found in the Falkland Islands but the share prices of the four Falkland oil prospectors listed on Aim have surged in recent weeks as retail investors whipped themselves up into something of a frenzy. The catalyst was the news that Desire Petroleum has reached a 'farm-in' agreement with a "significant" yet unnamed party, which could lead to two exploration wells being drilled in its acreage north of the Falkland Islands. Falkland penguins: Falklands: will there be oil? Hostile geography: the Falkland Islands will present prospectors with many logistical problems The potential drilling partner is rumoured to be Arcadia Petroleum, a London based oil trading group that has recently moved into exploration and production. Arcadia is partly owned by John Fredriksen, the Norwegian-Cypriot shipping tycoon who controls a number of oil services companies. Coming just months after Falkland Oil and Gas's agreement with natural resources giant BHP Billiton, it raised expectations that exploratory drilling could soon be under-way. The reason for the excitement is that the prospectors - Desire, Rockhopper, Borders & Southern and Falkland Oil and Gas - believe there could be more than 14bn barrels of oil offshore of the islands. That is no trifling amount given that oil is trading at record levels, above $100 a barrel. However, there is no mistaking the fact that this is an incredibly high-risk exercise and some of the more enthusiastic investors appear to have got ahead of themselves. The Falklands government estimates that the chances of finding oil are only between 1-in-5 and 1-in-12. "Some retail investors have got rather over-excited," explained Tony Alves, an oil analyst at KBC Peel Hunt, Falkland Oil and Gas's house broker. "You can't do a rational analysis because you have no idea of what probability of success to attach to these various ventures. But it's not just about finding oil, that's just step one. Then you need to be able to show you can produce it commercially and get on with it." In addition, the soaring global demand for rigs makes it unlikely that progress - even at this early stage - will be too rapid. Tim Bushell, chief executive of Falkland Oil and Gas, said he was hopeful that the he would begin drilling next year. The problem is not just the shortage of available rigs, it's the expense. The record oil price has also pushed the cost of oil services higher and it now costs up to £250,000 a day to rent a semi-submersible oil rig. The remote location of the Falklands Islands makes life even more difficult for the prospectors as they will have to foot the bill for the significant expense of transporting the rigs to and from the area. Analysts estimate that Falkland Oil and Gas and BHP's two well drilling programme will soak up around £45m. This isn't the first time that oil companies have tried to discover oil in the Falklands. In the late 1990s, a number of oil companies, including Royal Dutch Shell, drilled six wells in the North Falkland basin. Two of them showed positive traces but, with oil at just $15 a barrel, the companies decided that it was not worth their while continuing. Mr Bushell, who worked on Lasmo's abortive North Falklands drilling campaign in 1998, is hoping that he can get it right this time. "I'm looking at a completely different area and I believe the South is bigger and better," he explained. "If the next drilling round is not successful, they could drill again after revising their view," added Mike Summers, a councillor and spokesman for the Falkland Islands government. "I'm not sure it's s*** or bust yet." http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/10/cxmktrep110.xml |
| al_sting - Montag, 10. März 2008 - 14:31 |
| Auf der anderen Seite spielt die Falkland Islands Holding gerade ein Diversifizierungsprogramm in UK, dass mir etwas suspekt ist. Ob erst der Fährenbetrieb und jetzt ein Kunstmarkt-Logistiker die richtigen Wachstumsfelder für diese Firma sind?: On 5 March 2008 the group acquired MOMART, a UK market leader in the handling and storage of fine art and antiquities, www.momart.co.uk. To read more on the subject please view this presentation. " I am delighted that we have been able to acquire Momart which meets all the key criteria we identified during our acquisition search. Momart is a high quality business with a strong management team and is a good cultural fit with FIH. The acquisition gives FIH a new source of earnings from a business with a long record of cash generation and profits, and which has superior growth prospects. For FIH shareholders, on a pro forma historical basis, earnings per share will be significantly enhanced without any significant dilution in the Group's indirect interest in FOGL. This along with our progressive dividend policy demonstrates our commitment to maximizing shareholder value. " David Hudd, Chairman of Falkland Islands Holdings plc - 4 March 2008. http://www.fihplc.com/ |
| al_sting - Dienstag, 15. April 2008 - 18:31 |
| Der Geschäftsbericht von FOGL ist draussen. http://www.fogl.com/documents/FalklandOilandGasLimited-AnnualReport-YearEnding-311207.pdf Insbesondere den Ausblick halte ich für lesenswert: Outlook This project has been described as highimpact/high-risk by some commentators inthe past. While it is clearly high-impact, we have worked hard to mitigate the risks. As a result of our technical work and data gathering we believe that the exploration risk has been significantly reduced. Deep water, harsh weather and the remote location have all been cited as potential obstacles to success. However, the environment is very similar to West of Shetland, UK Northern North Sea and the Norwegian Sea. In all of these areas, oil and gas have been successfully discovered and exploited and the drilling and production technologies that have made this possible are readily applicable to FOGL’s prospects. Most of them lie in water-depths of 600 to 1,500 metres; while recent wells in the Gulf of Mexico have been drilled in water-depths of up to 6,000 metres. Furthermore, the wells will be conventional (i.e. they are not high temperature or high pressure). While the North Falklands basin drilling campaign of 1998 was not a commercial success, it demonstrated that offshore drilling operations could be effectively supported from a shorebase in the Falkland Islands. Despite its perceived remoteness, the Falkland Islands is located between key oil and gas markets. It is well-positioned for North and South America, South Africa and Asia. Extensive development case modelling by FOGL, based on the use of floating production storage and offloading vessels (FPSOs), has been carried out using various sizes and types of discovery. FPSOs would be able to operate effectively in the Licence areas and oil would be exported by shuttle tankers. Using such a development concept, even moderate sized discoveries would be commercially viable, even at oil prices substantially lower than today’s market prices. The favourable fiscal terms offered by FIG and the Islands’ political stability further enhance the attractiveness of this area. Exploration drilling is now expected to begin in 2009 and given the potential of the short listed prospects, we believe that the chances of a commercially viable discovery have improved further. |
| al_sting - Dienstag, 15. April 2008 - 18:37 |
| In dieser Präsentation http://www.fogl.com/documents/FalklandOilandGasLimited-CorporatePresentation-2008-03-18.pdf wird das Potential der Aktie auf Folie 10 sehr beeindruckend dargestellt: Wertschätzung für die FOGL-Aktie: Aktueller Aktienpreis: £1.30 500mm bbl Vorkommen: £10.00 Loligo Erfolgsfall: £75.00 Wohlgemerkt, diese Einschätzungen gelten für einen Ölpreis von 50$/Barrel und nur das Hauptfeld Loligo! Die Aktie von FIH dürfte sich bei dieser Entwicklung im schlechtesten Fall halb so gut wie FOGL entwickeln, da die FOGL-Anteile etwa die Hälfte des FIH-Wertes ausmachen. Von den ganzen anderen Möglichkeiten ganz zu schweigen... Ciao, Al Sting ;-) |
| chinaman - Mittwoch, 16. April 2008 - 13:11 |
| Danke für die Links, Al Sting. Liest sich alles sehr interessant ! Gruß Chinaman |
| al_sting - Dienstag, 16. September 2008 - 14:04 |
| Anmerkung: Der "RAB Special Situations"-Fond ist der mit Abstand größte Investor bei FOGL. Sollte sich dieser Fonds in Notverkäufen von seinen Anteilen trennen müssen, könnte die Aktie von FOGL unter massiven Druck geraten. Bad decisions only tip of RAB fund’s iceberg By James Mackintosh Published: September 11 2008 02:28 | Last updated: September 11 2008 02:28 Two years ago Philip Richards, the “R” in RAB Capital, was on a roll. Booming commodity markets and easy access to finance had bolstered his hedge fund strategy of buying into small private mining and energy companies and helping them float, and he was ready to look further afield. Over the following 12 months he made two disastrous investment decisions: he bought a controlling stake in A1 Grand Prix, the motor racing series, and became the second largest shareholder in Northern Rock, the failed bank. EDITOR’S CHOICE Lex: Redemption song - Sep-11 In depth: Hedge funds - Jun-17 RAB threatens to close fund - Sep-10 Lakshmi Mittal is Special Sits loser - Sep-11 RAB’s Richards leads the charge of the hedge brigade - Sep-04 RAB co-founder steps down as chief - Sep-04 The holding in A1 – which cost about $150m (£86m) including financing – has been written down to almost nothing, while RAB has joined a court action over the level of compensation to be paid by the government for nationalising the Rock. However, the problems at RAB’s $923m Special Situations fund, the flagship fund managed by Mr Richards, go deeper than just two bad stock picks. The fund invested heavily in private companies – providing financial backing and helping them to go public – and in small and Aim-listed companies. Many of the private companies are now unlikely to be able to access public markets, and are suffering from the unwillingness of banks to advance cash, while the listed companies have been hard-hit by the fall-out from the credit crunch. The fund is down 48 per cent this year, including a drop of 22 per cent in August, 9 points of which were due to a third write-down in the value of A1. End for an odd – but effective – couple as outspoken chief bows out The combination of dapper, well-connected Michael Alen-Buckley and ex-soldier Philip Richards made for an odd but effective pairing when they foundedRAB Capital in 1999. The replacement of Mr Richards, who is outspoken about his investments and evangelical about his Christianity, with a new chief executive, former finance director Stephen Couttie, makes the group look rather less maverick. Mr Couttie, 50, is a former finance director of Fox-Pitt Kelton, the financial services boutique, and of Swiss Re’s capital markets business. He represents the growing trend in the industry to have companies run by a safe pair of hands who will go down well with institutional investors, rather than having the company run by a flamboyant hedge fund manager. Like Mr Alen-Buckley, he is politically linked to the Conservative party. His wife, an investment banker, is a Tory councillor for the City of Westminster. Mr Alen-Buckley’s connections are somewhat more important for the Tories nationally. He has donated £50,000 to the party in each of the past two years. Mr Alen-Buckley, the “AB” in RAB, has used his wealthy connections to successfully pull in cash to RAB, which now manages $4.7bn (£2.7bn). He had previously worked with Mr Richards, the “R”, as an equity salesman at Merrill Lynch, where Mr Richards was an analyst and investment banker, before becoming head of international equity sales at Hoare Govett, the broker owned by ABN Amro. “We are very disappointed with the performance of Special Situations in 2008 and greatly regret the impact that the performance will have on investors,” Mr Richards said in a statement. “However, we believe the underlying thesis of investment in early-stage natural resources is one that will repay patient investors over time.” Special Sits now has a problem that has become widespread in the hedge fund industry this year: it invested in hard-to-sell positions, but offered investors the opportunity to withdraw their money with six months’ notice. This mismatch of liquidity was no problem while new money was flowing into the fund on the back of profits. But once investors started withdrawing,RAB – like other funds with hard-to-trade holdings – would have to sell its best positions to raise cash, leaving the remaining investors with the least liquid stocks. Some hedge funds, such as London’s Polygon and Dallas-based HBK, have reacted by restricting withdrawals, imposing a so-called gate that allows only a proportion to be taken out each month or each quarter. Others, including crisis-hit Absolute Capital Management, split off hard-to-trade assets into separate funds, while some, such as Tisbury Capital, restructured to prevent the withdrawal of the portion of the fund invested in illiquid assets. Finally, a handful of funds have shut down in the face of threatened investor redemptions, most recently Ospraie’s largest fund, which it announced last week would close after losses of 38.6 per cent this year. For RAB, listed on Aim, shutting its flagship will be a last-ditch option. Mr Richards has already stepped down as chief executive to focus on improving the performance of the fund and the company is now asking investors – including billionaire Lakshmi Mittal – to vote to block withdrawals until 2011. If they do not, the fund will close, a move analysts say could prompt further losses as it becomes a forced seller in a market with few buyers. The survival of RAB itself is not at stake, analysts say, at least as long as the problems do not lead to an exodus of staff or a loss of investor confidence in the rest of the 21 funds. RAB’s history may provide some reassurance to its battered shareholders, who have seen the share price tumble from a peak of 125p last summer to 29½p on Wednesday. In 2002, Mr Richards, then running the RAB Europe fund, the company’s biggest, called the end of the bear market too early and lost out badly, prompting big investor withdrawals. His subsequent decision to launch the Special Situations fund, which became one of a handful to make 1,000 per cent in a year, paved the way for its recovery. Copyright The Financial Times Limited 2008 http://www.ft.com/cms/s/0/8605b114-7f8c-11dd-a3da-000077b076… |
| al_sting - Dienstag, 30. September 2008 - 10:18 |
| Der drohenden Notverkauf von FOGL-Aktien durch den Hauptaktionär, den RAB-Fonds "Special situations", ist seit heute vom Tisch. Damit könnte der FOGL-Kurs wieder etwas Oberwasser bekommen. --------------------------------------------------------------------- RNS Number : 6429E Falkland Oil and Gas Limited 30 September 2008 30 September 2008 Falkland Oil and Gas Limited ("FOGL" or "the Company") Statement regarding major shareholder FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, has noted the announcement by RAB Capital plc ("RAB") regarding its RAB Special Situations Fund Limited which holds a significant interest in FOGL. RAB announced this morning that investors in its Cayman-based RAB Special Situations Fund Limited and Delaware-based Special Sits LP have voted by a considerable margin to approve a three year lock-up. The Company welcomes the announcement which ends a period of uncertainty regarding the interest in FOGL of RAB, which has been a long and supportive shareholder of FOGL. |
| al_sting - Freitag, 24. Oktober 2008 - 18:00 |
| Angesichts der abschmierenden Börsenkurse hat der Chef eine Ad-Hoc herausgegeben, um mögliche Ängste zu beruhigen: FALKLAND ISLANDS HOLDING’S CHAIRMAN’S STATEMENT September 11, 2008 by J. Brock (FINN) FALKLAND ISLANDS HOLDING’S CHAIRMAN’S STATEMENT By J. Brock (FINN) Speaking today at the Annual General Meeting of Falkland Islands Holdings plc the Chairman, David Hudd said that he wanted to give shareholders an update on current trading. He also noted that following approval by the shareholders, the final dividend of 8p per share will be paid on 31 October. He went on to say that Falkland Islands Holdings plc are currently five months into the financial year and despite the challenging economic conditions and in particular the volatility in oil prices and exchange rates which impacts all the Company businesses - the Group's three operating businesses - have continued to trade satisfactorily and the outlook for the current year for the Group remains positive. “Integration of the Group's recently acquired fine art logistics business,” he said “Momart, has progressed well and we have seen strong year on year growth in revenue. Momart's performance has continued to move ahead and its order book for the important Autumn season is encouraging.” Mr Hudd admitted that Group's operations in the Falkland Islands have had a quieter start to the year without the positive impact of the exceptional factors which boosted trading last year. He pointed out that work is underway on the conversion of the Upland Goose into housing and planning permission has recently been received for an extension and car parking for the West Store. Consumer demand in the Islands remains subdued, although our wide spread of interests in the Islands should ensure a satisfactory overall performance. Despite the increase in the cost of marine diesel in the early part of the year, he added, the ferry business at Portsmouth Harbour has continued to perform well with passenger numbers for the year to date showing encouraging growth of 2%. This suggests a possible change in customer behaviour and a switch from the use of private cars to the use of the ferry and underlines the value for money, convenience, and reliability offered by the service. Discussions continue with Gosport Council regarding the installation of a new pontoon and landing stage. The exploration activities of Falkland Oil & Gas Limited, in which the Group holds 15 million shares representing a 16.3% stake, have continued to progress. Mr Hudd finished by saying that he was pleased to report that the Group's family of well established, specialist service businesses continues to provide a solid foundation for the continued creation of shareholder value. Trading is progressing well, the balance sheet remains strong and I am confident of the outlook for our interim results which we will report in December. http://www.fihplc.com/support/upload/100908RNSa.pdf |
| al_sting - Sonntag, 1. Februar 2009 - 19:13 |
| Ein kleiner Artikel aus dem Guardian zum Thema: http://www.guardian.co.uk/uk/2009/jan/28/falkland-islands-oil-drilling-impact Falklands' new dawn: islanders plan future around 18bn barrels of oil Drills ready but prospective barons face environmental – and Argentinian – obstacles Early evening chatter in the Victory bar in Port Stanley used to touch on squid hauls and cruise liner schedules. Now, as the locals sip on imported pints of British beer, a far more lucrative proposition is grabbing their attention: oil. According to the latest seismic surveys, the Falkland islands are sitting on an estimated 18bn barrels. Prospecting companies operating on the islands say they plan to start drilling later this year. With an already affluent population of about 3,000, Falklanders are anticipating a windfall that could make them one of the richest populations on the planet. "Even if they [the oilfields] produce [only] a billion barrels of oil, the impacts in terms of revenues per head for the Falkland Islands is going to be gigantic," says Sam Moody, managing director of Rockhopper Exploration, one of the three companies with exploration rights to the Falklands. But the Falklanders aren't quite the oil barons of South America yet. Several obstacles lie in their way. The first is whether the estimates prove to be true - and that will mean getting hold of a rig for preliminary drilling. During the oil price boom, rigs were prohibitively expensive, costing as much as $600,000 per day. But with oil prices coming back down, rigs are becoming more available, and concession holders are confident one can be procured. Then there is the question of economics. Earlier attempts to prospect in the mid-1990s were abandoned when oil prices crashed below $10 a barrel. These days, prospectors are sanguine about the latest drop in oil prices. Ben Brewerton, a spokesman for Falkland Oil and Gas, says that drilling would still be viable at prices as low as $20 per barrel, given the size of the expected finds. The risk of spills and other environmental fallouts represents another possible threat to the oil industry's progress. As well as being a haven for penguins and seals, the Falklands boasts the world's largest breeding population of the black-browed albatross. Phyl Rendell, director of minerals and agriculture for the Falklands, says the islands' authorities are requiring the highest environmental requirements for oil operators. More worrying is the political risk. Three hundred miles away to the west sits Argentina, which sparked a 10-week war with the UK after invading the Falklands in 1982. Argentina continues to claim sovereignty over the islands and their natural resources. "It doesn't matter what we do in the Falklands islands, whether its developing our natural resources or strengthening our democracy, they complain about it," grumbles Mike Summers, a member of the Falklands' legislative assembly. In Argentina, tension is brewing. The foreign ministry has already withdrawn from a joint agreement with the UK to coordinate oil exploration in the South Atlantic. It has also banned any oil company or contractor firm operating in Argentina from participating in projects in the Falklands. Falklanders have experienced rapid economic change before. After the 1982 war, a 200-nautical mile zone was established around the islands to encourage commercial fishing. Within a few years, government revenue jumped from about £5m a year to £30m. Today, the figure is closer to £45m. "We're not unused to the idea of change," Summers notes in reference to the fishing boom. "Although with oil we're talking about a different level of magnitude." Residents are already speculating on how the anticipated windfall should be spent. Under agreements signed with the oil prospectors, the Falklands will receive a 21% corporate tax and 9% royalties on all oil and gas produced. Government officials are studying the experience of other small, oil-rich communities such as the Shetland islands, which benefited from the North Sea oil boom and set up a charitable fund with their oil bonanza to finance leisure centres and other community projects. The Falklands could certainly use something similar. They have no theatre, only a handful of restaurants and precious little nightlife. A more comprehensive road network and a bigger port also appear high on wish-lists. A cinema would be a welcome addition too: at present the only widescreen is on the islands' military base, 35 miles down a gravel road. "You can list the amount of amenities we haven't got until the cows come home," says Adam Cockwell, a 34-year-old ferry operator. For now though, no one is promising anything. As Rendell says: "We've been careful not to plan for something we might never get." |
| amateur - Dienstag, 17. Februar 2009 - 21:12 |
| Hier ist ein Artikel zur Ölsuche auf den Falklands http://www.sueddeutsche.de/finanzen/937/458588/text/ |
| al_sting - Donnerstag, 5. März 2009 - 10:44 |
| Ich interpretiere dieses "Trading Update" als eine Gewinnwarnung bezüglich der Tochter Momart. http://www.fihplc.com/support/upload/050309RNS.pdf Mitarbeiterentlassung, gesunkene Gewinnerwartung, Abschreibungen von 2 Mio Pfund "After taking account of the exceptional restructuring charges noted above (£0.15m) and non cash charges for the increased provision for the carrying value of the Group's interest rate hedge (£0.4m), the goodwill impairment (£2.0m) and the normal amortisation of intangibles ( £0.4m), it is expected that the Group will show a loss before tax for the year ended 31 March 2009. However the Board still anticipates that underlying earnings per share for the year ended 31 March 2009 (based on Underlying Profits) will show an improvement on 2008 when underlying earnings per share were 16.3p." Diese Diversifizierung war wohl ein Griff ins Klo. :-( -------------------------------------------------------------- Erste Analystenreaktion: 09:09GMT 05March2009- Falkland Islands Hld falls on loss warning Shares in Falkland Islands Holdings Plc fall 9 percent to 260 pence after the diversified logistics group warns of a full-year pretax loss as a tougher commercial art market hits performance at its Momart art handling unit. "Despite this setback, the shares offer value," says KBC Peel Hunt, while maintaining a "buy" rating on the stock. Trading in the company's other operations remains in line with its expectations and underlying cash generation remains robust, the brokerage adds. For Falkland's statement please click on Reuters messaging rm://balachander.surianarayanan.reuters.com@reuters.net Ciao, Al Sting |
| al_sting - Donnerstag, 10. September 2009 - 15:37 |
| Desire (Ölgesellschaft, die in den nördlichen Regionen der Falkland-Inseln bohren will), hat heute einen "Mietvertrag" über vier Bohrungen mit einer Bohrinsel bekannt gegeben sowie einer Option über vier weitere Bohrungen. Ankunft bei den Falkland-Inseln: Februar 2010. Alle Aktien zu Öl und Falkland machen daher Freudensprünge. http://www.oilvoice.com/n/Desire_Signs_LOI_for_North_Falkland_Basin_Drilling_Campaign/4ba82a8eb.aspx |
| al_sting - Freitag, 11. September 2009 - 09:57 |
| Weitere Nachrichten von den Falkland-Inseln: Rockhopper hat voraussichtlich einen Farm-In-Partner. Es handelt sich bei Rockhopper wie bei Desire um Explorer im nördlichen Bereich der Falklands. http://www.oilvoice.com/n/Rockhopper_Exploration_Signs_LOI_For_Falklands_Farm_Out/db34c1fea.aspx Weiterhin hatte die Falkland Island Holding gestern Hauptversammlung. Dividende liegt wie im Vorfeld bei 8 Pence/Aktie. http://www.fihplc.com/support/upload/100909RNS.pdf Mal sehen, ob der aktuelle Schwung längerfristiger Natur ist. |
| al_sting - Samstag, 5. Dezember 2009 - 14:19 |
| Bei den Falkland-Inseln tut sich was. Desire hat sein Bohrschiff, Bohrungen sollen in der ersten Hälfte 2010 stattfinden. Auch FOGL erhält in dem Zusammenhang eine Bohrung in"einfachem" Gelände. Sie suchen aber weitere Möglichkeiten für ihre schrierigeren, aber auch vielversprechenderen Projekte. FOGL hat eine Kapitalerhöhung durchgezogen, FIH hat 20% der FOGL-Aktien verkauft, um Bargeld für das Folgegeschäft zu haben. Und in UK entwickeln sich Hoffnungen, dass ihnen ein Falkland-Ölboom aus der aktuellen Krise hilft. Auch die Falkland-Aktien sind schrittweise angesprungen, aber da ist noch viel Potential für mehr. Daher habe ich dieser Tage meine Uralt-FIH-Position etwas aufgestockt. |
| al_sting - Mittwoch, 9. Dezember 2009 - 21:13 |
| Es gab mal wieder Haljahreszahlen: http://www.fihplc.com/support/upload/Interim_statement071209.pdf In der Times ist es m.E. schön zusammengefasst: http://business.timesonline.co.uk/tol/business/columnists/article6948076.ece Falkland Islands Holdings Forget sheep. Squid hold the greater sway over the fortunes of the Falkland Islands. That might be the impression from yesterday’s first-half results at the AIM-listed Falkland Islands Holdings (FIH), which has interests in everything from retail to shipping in the South Atlantic archipelago. A failed catch of ilex squid this year means that pre-tax profits in the six months to September 30 were £200,000 lower than originally forecast. FIH acts as agent for the fishing fleets that land squid for consumption in the Far East and a shift in ocean currents took them to other waters last spring. The prospects for the islands’ oil industry offer greater allure. First, FIH has an 8.2 per cent stake in Falkland Oil & Gas (FOG), one of four companies involved in the first offshore drilling campaign in the surrounding seas since 1998. Desire Petroleum has secured the first rig, due to arrive in February, but any exploration success will boost the value of FOG, too. Second, the influx of oil contractors over the next few years will benefit FIH’s non-oil interests irrespective of any finds — whether through shopping spend, property rental or landing fees. At 392½p, or 22 times earnings, FIH provides an each-way bet on Falklands oil among those for whom the all-or-nothing play of pure exploration is too extreme. With FIH’s UK businesses, such as the Gosport ferry, generating annuity-like income, there are dividends, too. Buy. |