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Argos Resources

11:00 on 20/11/2017

Current Price 3.25p | Bid 3.25p | Ask 3.75p | Change 0.00%

Company Overview

Argos Resources Ltd is a quoted oil and gas exploration Company based in the Falkland Islands. The Company's principal asset is a 100 percent interest in Production Licence PL001 covering an area of approximately 1,126 square kilometres in the North Falkland Basin. Based on 2D seismic, seven prospects and five leads have been identified by Argos in the Licence Area. The prospects have a total unrisked potential of 747 million barrels of prospective recoverable resource in the most likely case, and up to 1.75 billion barrels in the upside case. No resource estimates are reported for the mapped leads as it is considered that these require further work to mature. The Licence Area adjoins licence areas being explored by Rockhopper and Desire, who between them are involved in a multi well drilling campaign in the North Falkland Basin in 2010 and 2011. Argos has placed £22m of new shares which commenced trading on July 29th 2010. The Company's plan is to undertake a 3D seismic programme during the austral summer weather window of 2010/2011 over the prospects identified from its earlier 2D seismic. The intention is to better define those prospects, and potentially to identify new prospects, leading to the selection of possible targets for a subsequent drilling programme in Q4 2011 and 2012. The Company announced in October 2010 that it had contracted the MV Polarcus Asima to undertake this 3D programme, and seismic acquisition is due to commence in January 2011.

Stock Details

ISIN FK0114538241
Shares in Issue 219,713,205
Market cap £ 9.89m
Sector Oil & Gas Producers
Indices FTSE AIM All-Share Index

Financial Highlights Year Ended 31/12/2013

Turnover $0.00 million
Operating Profit $-1.85 million
Dividend Yield 0.00
Dividend Per Share 0.00
Dividend Cover 0.00
P/E Ratio -8.49
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Key Personnel

Andrew Irvine Finance Director

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Price Summary

Mid Price ? 3.50p
Bid Price ? 3.25p
Ask Price ? 3.75p
Volume ? 66200
Change Today 0.00p
% Change Today 0.00%
Open 3.30p
Previous Close 3.50p
Intraday High 3.30p
Intraday Low 3.25p
52 Week High 8.63p
52 Week Low 3.50p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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