Argos Resources & Borders & Southern Petroleum are a SELL

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A quick note here both (LSE:ARG) Argos Resources & (LSE:BOR) Borders & Southern Petroleum based in the Falklands are a SELL on fundermential grounds.

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They have both missed the rig mobilisation in the Falklands, therefore their rig slots have been cancelled i would suggest.  Chrisoil has a great respect for Borders CEO Dobson however as he stated at the AGM the company did not mind waiting for another drilling campaign with costs of $480 million to find and no farm in partner as yet, on a condensate only field which makes it harder to develop, i worry about its balance sheet, its a Sell.

Futhermore Argos Resources is cash poor with limited funds left and issue likely within six months regarding last interims results. Even comments at the recent Oil Barrel Conference highlighted Rockhopper Exploration had walked from any farm in deal. The company has no discovered commercial assets its worth is negligible.  Strong Sell and Short.

In addition the actions of some traders are questionable at best on these stocks as i Chrisoil called them out before with a Shareprophets exclusive article regarding Borders & Southern Petroleum, traders claimed a farm in was imminent in 2014 and clearly it never came caution is the word.

The safe way to play the Falklands with fully funded cash and have rig slots. For example (LSE:RKH) Rockhopper Exploration & (LSE:FOGL) Falklands Oil & Gas.

If you are interested in the Falklands oil campaign its not to late to register with advfn to get access to excellent data and bulletin information by registering below.

Until the next time more rambles at the castle @ chrisoil

More information about this Falklands topic can be found on my personal blog http://www.chrisoil.blogspot.co.uk

 

 

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