Argos Resources

• 08/05/12

  Holdings in Company

• 12/04/12

  Posting of 2011 Annual Report

• 05/04/12

  Holdings in Company

• 19/03/12

  2011 Financial Results

• 29/11/11

  Company Update

• 

  30/12/11

  Desire, Borders & Southern and FOGL to hog the Falklands limelight in 2012

  So far Rockhopper Exploration and Desire Petroleum have almost exclusively held the spotlight in the Falkland oil frontier.  However the arrival of the Leiv Eiriksson rig in January will see investor attention switch to the deeper water targets of the Falkland’s South basin.

  
  

   

• 

  29/11/11

  Argos Resources plans "meaningful" Falklands drilling programme; assessing options

  Argos Resources said this morning that it is considering options to fund an ambitious Falklands drilling programme including bringing on board an industry partner.

• 

  18/10/11

  Argos Resources’ Hogan confident in Sea Lion lookalike prospects after pivotal report

  Managing director John Hogan has declared himself "delighted" with the results of the recent independent report on its Falklands acreage which was far better than he or the team expected. The group is now preparing to drill the first Sea Lion ‘lookalike’.

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  14/10/11

  UPDATE: Argos Resources’ Hogan delighted with better-than-expected Falklands oil report

  Speaking with Proactive Investors this afternoon Argos managing director John Hogan said that today's CPR shows that investors money was 'very well spent' on the 3D seismic programme, that was the basis for the massive upgrade to oil resource estimates.

• 

  14/10/11

  Argos Resources shares advance as report lifts Falkland oil estimates to 2.1 bln barrels

  The shares gained as much as 23 per cent following an independent competent person’s report that confirmed a total of 28 prospects with a ‘best’ estimate resource of 2.1 billion barrels of oil. Evolution Securities upped its target price from 52 to 79 pence a share in response to the news.

• 19/03/12

  Argos Resources seeks Falkland exploration drilling partner

• 19/09/11

  Argos Resources eyes Falklands drilling in late 2011- early 2012

• 05/07/11

  Argos Resources says fast-tracked 3D yields encouraging early results

• 03/05/11

  Argos Resources submits environmental study for Falkland oil drilling plans

• 18/04/11

  Argos Resources aims to drill its first well in the Falklands in 2011

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.

The Company intends to carry out a 3D seismic programme in 2010/2011 over a number of the prospects identified from its earlier 2D seismic programme. These 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. On completion of the seismic interpretation, which should be completed in the second half of 2011, the Company expects to be in a position to high-grade prospects and identify drilling locations. This process will be aided by the results of the current drilling programme being undertaken by the adjoining licencees.

The Directors believe that the encouraging results from the adjoining licences materially de-risk the likely outcome of Argos's own programme.

The Prospects

The 2D seismic data acquired in 1997 was reprocessed and reinterpreted in late 2009/early 2010. Based upon that work, 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 as set out in the table below. No resource estimates are included for the mapped leads as it is believed that 3D seismic will be required to further matured these to prospect status.

Resource totals are arithmetically summed and do not take account of prospect dependencies where elements of trap, reservoir or charge in one prospect impact upon the potential of other prospects. Any dependencies are discussed in more detail in the prospect description sections of the Competent Person’s Report.

Prospects and Leads

For further infomation on current operations please click here

Ian Thomson OBE - Executive Chairman

Ian, a Chartered Engineer, founded Argos in 1995. After an early career in the mining and energy equipment industry he became the Managing Director of Evergreen Resources Inc.'s exploration and production interests in the UK and Europe. He is director of a number of Falkland Islands and overseas companies engaged in fishing and other operations.

John Hogan - Managing Director

John joined the Board in 2005. John is a qualified geologist who has spent over 35 years in the oil industry. He was Chief Operating Officer of LASMO plc and Managing Director of LASMO North Sea between 1989 and 2000. Since 2000, he has been active at board level in a number of privately held and quoted energy businesses internationally.

Andrew (Drew) Irvine FCCA - Finance Director

Drew joined the Board in 2005. After qualifying as a Chartered Certified Accountant in Scotland, Drew managed the Pannell Kerr Foster related accounting practice in the Falkland Islands. Drew is now a Falkland Islands resident and is a director of a number of Falkland Islands companies. He is Chairman of the Falkland Islands Pensions Scheme and a member of the Board of the Falkland Islands Fishing Companies Association and a director of the Falkland Islands Chamber of Commerce and other organisations.

Dennis Carlton – Senior Non-executive Director

Dennis joined the Board in 2005 having served on the board of Argos Exploration since 1995. Dennis is a qualified petroleum geologist and has been involved with the North Falkland Basin since 1995. He was Chief Operating Officer of Evergreen Resources Inc. between 1981 and 2004 and, following its merger, Vice President of Exploration, Western Division for Pioneer Natural Resources USA Inc. until 2008. He is currently a director of a number of other private companies operating in the energy and other sectors.

Christopher Fleming - Non-executive Director

Chris joined the Board in 2008. Chris graduated from Aberdeen University with an M.A. in Economics and Law and joined Morgan Grenfell in 1985. Between 1987 and 2005 he was involved in the development of the Gilt Sales operations of Bankers Trust, Deutsche Bank and SBC Warburg as Head of Sales of each of the Banks. From 2005 to 2009 he was Head of EMEA Flow rates, Credit and Currency Sales for RBS Global Marketing and Banks and is currently Global Head of Rates Sales for Nomura International PLC.

James Ragg LLB, FCA - Non-executive Director

James joined the Board in 2008. James qualified as a Chartered Accountant in 1995 and, after eight years with Saffery Champness, joined Haines Watts as an audit and assurance partner in 2004. He is currently a designated Partner in Haines Watts South LLP. Alongside his audit and assurance role, James is an expert on organisational governance and lectures regularly on governance responsibilities. He is a trustee and audit committee member of a major UK charity.

Shares in issue: 216,113,205  2p Ordinary Shares in Issue, as at Last Close.

As at 29 July 2010 Argos Resources Ltd. is aware that 25.7% of shares are not in public hands.

There are no restrictions on the transfer of any of the company's securities.

1 Ian Thomson has a 46.46 percent interest in the issued share capital of Argos Georgia Ltd
2 Iain Aylwin has a 23.23 percent interest in the issued share capital of Argos Georgia Ltd

Argos Georgia Limited is an 'associate' of Ian Thomson for the purposes of the AIM Rules. The aggregate of Ian Thomson's and Argos Georgia Limited's interest in the share capital of the Company is 22.345 percent after Admission.

For further financial information please click here

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