http://www.falklands-oil.com/

http://www.rockhopperexploration.co.uk

http://www.argosresources.com/




Rockhopper was established in 2004 with a strategy to invest in and undertake an offshore oil exploration programme in the North Falkland Basin. It was floated on AIM in August 2005. Rockhopper was the first company to make a commercial oil discovery in the Falklands. Today Rockhopper is the largest acreage holder in the North Falkland Basin, with interests in the Greater Mediterranean region.

RKH 7.5% owners of whatever DES finds in 3 wells:-)

Where do you get the heavy oil from ?....put the explanation on the GKP thread thanks....we will be annoying everybody here...cheers...

API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. If its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. An API of around 22 to 31 is a medium oil which will flow to the top

RF...assume you read GKP RNS's?

http://ir2.bestex-quotes.co.uk/ir/gulfkeystone/newsArticle.php?id=141723&ST=GKP

Broker note from Oriel:

"Rockhopper Exploration (RKH, BUY, 242p) - Update on Sea Lion oil quality

After a sharp move in Rockhopper's share price, the company issued a release updating the market on the preliminary findings of the oil quality encountered in the Sea Lion discovery

Analysis is currently ongoing but preliminary work in Port Stanley on a sample from the shallowest oil sand indicated a medium grade crude with an API of 26.3deg. This is consistent with the oil quality encountered by Shell in 1998

There was no update on the viscosity of the oil at this stage which will be important for productivity. Whilst there is no explicit correlation between viscosity and gravity, it does tend to improve with lower gravity crude

The crude quality is broadly consistent with the Arab Heavy grade (27deg) which has been trading at relatively tight spreads to Brent this year on a delivered basis into Europe/US (implying 5-10% discount on an FOB basis), while Mangala crude in Rajasthan (28 deg) is being sold on a pricing formula which has historically been at a 10-15% discount to Brent. Our indicative NAV/boe at US$80/bbl long-run of US$8.5/boe for the North Falklands assumes a 15% discount to Brent long-run. It should be stressed that the discount applied in our models is very preliminary at this stage with a number of factors impacting oil quality (including viscosity, sulphur content, wax content etc.) which have yet to be confirmed

Whilst there was no updated resource guidance on the discovery, the tone of the announcement suggested that pre-drill estimates (CPR P50 of 170mmb) are likely to be still intact in our view or potentially exceeded

Based on the pre-drill P50 reserve number, we would value Sea Lion at c570p/sh before taking account of any dilution which is likely given Rockhopper will need further funding to appraise the discovery

We view this update positively and with further updates due in the coming days we re-iterate our BUY recommendation."

Already posted.....do you lot go round from broker to broker digging up this stuff...?....please Chav ...no excuses.....post it,... the article on GKP....why knock a massive oil discovery..?..

I have posted the relevant line out of the RNS already RF, plus the link...are you that one eyed?

You were on about Shaikan being heavy oil....if you want to carry on with this nonsense put it on GKP...

Shaikan has 1-2 Billion bbls 17-20 API oil....heavy man!...plus it has some very sweet Oil.


You keep bring GKP here Pal!

You do not know what you are talking about....I'm not going to carry on discussing this crap...end...

Once the point has been made, why don't you just leave it. If we are interested, the rest of us can and do make up our minds who is right after researching those points made in the first couple of posts.
This is fast becoming a kiddies playground thread, with repeated, Yes it is, No it isn't.
Please post any sensible info, or none at all, it's getting annoying and boring.

Exactly....why does he just not post the rns saying it's heavy crude on the GKP thread...he's got it wrong that's it....over.

where is the squelch button?

Anyway...off subject...take a quick look at PMO,NPE and EO.----at this point probably the best bet is EO.

I've been squelched by Tweenie on the Stanelco happy go lucky thread....I wonder how she's getting on ?...must pop by one of these days to see...

Anybody on here know the difference between heavy, medium (if there is such a thing) and light oil....in api or so called terms ?....hang on !....Marky says that that is medium oil...

From the last RNS lets hope you understand it RF and put the subject to bed!!!

"a sample of oil from the shallowest oil sand in the well was subjected
to a preliminary test in Stanley and this indicated a medium grade crude, broadly in line withthe Directors' expectations, with an API of 26.3."

Shell well which was drilled had a API of 27 and sits 10km to where RKH drilled sea lion.
RKH have said it has a API of 26.3

Classifications or grades

Crude oil is classified as light, medium or heavy, according to its measured API gravity.

Light crude oil is defined as having an API gravity higher than 31.1 API. (less than 870 kg/m3)

Medium oil is defined as having an API gravity between 22.3 API and 31.1 API. (870 to 920 kg/m3)

Heavy oil is defined as having an API gravity below 22.3 API. (920 to 1000 kg/m3)

Extra heavy oil is defined with API gravity below 10.0 API. (greater than 1000 kg/m3)

The 2 api's are so close....hmmm....and not too far apart as the crow flies.

I suppose that tar sands like in Canada are an even further step below.....there was an article in the national geographic magazine, I think last year about that....

RF .... for crying out loud, stop the crap ..... we do not know the quantum, but assuredly we do know that this is medium grade crude ..... and yes, tar sands produce horrible thick gooey muck which is both difficult to extract and expensive to refine, and hence only commercially viable when the underlying crude price is high .... is it high enough now? .... possibly is my guess