FOGL's press release from last week sounds not so promising.
http://en.mercopress.com/2015/10/17/falklands-southeast-exploratory-well-has-found-oil-and-gas-shows-says-fogl
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Noble and Edison jointly carried FOGL through target depth. According to that news release, Noble is carrying FOGL for all of its share of the new, deeper drilling. That would put Noble paying its 40% plus all of FOGL's 35%. Is Noble carrying Edison as well? I hope analysts ask about Humpback on Monday's earnings call. That is going to be a lot of money net to Noble. If Humpback ends up being a $300MM duster, then Gap Cunningham, along with Big Chief Dave and Little Chief Fisher, should be held accountable for letting this happen. But, of course, they are part of executive management and will never be held to task for any action or inaction.
Humpback will be another dry hole. Internationally Noble has drilled 5 dry holes now, Lots of breakthrough thinking there and the NO ventures group not able to deliver anything viable. In any other company the folks kissing Susan's ass and Susan would be gone. These directors with Susan at the helm will drive this once good company into the ground. The sad thing is they will walk away with $$$. I am sure Karma will find them in due course
Remember, this company is the K-mart of the oil & gas industry. That's why they hired this contractor
the contractor hired as Humpback project manager would not have been my first choice for a project that is this complex.
Most of Noble is led by "ass kissers".
As I know, the humpback is over spent, should be around $300MM by the conclusion of drilling. The rig is already on location 5 months with almost 1.5 million a day against the original planned 70 days. Drilling Director Mr. Shepard resigned and Oct 30 is his last day with Noble. Almost no well planned for next year. Noble is dying. The humpback drilling team is led by an ass kisser, not technical know-how, bring all of his buddies into the team.