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.

There is no way that the rig will be back there in that timeframe....50 days minimum.....to move the rig and tow it plus repositioning will take 10 days....in good weather.....and they might go straight to ernest and that is more probable....I cannot see them setting the rig up again just to flow test....more likely that an appraisal well to find the limits of the reservoir or something like that at a future date...

RNS says

Flow Test as soon as possible.

You say, below. Now, I wonder what the people will believe..........

(remember you said sell at 90p as it was far too high...... LOL)



required field - 04 Jun 2010 09:34 - 1558 of 1558
There is no way that the rig will be back there in that timeframe....50 days minimum.....to move the rig and tow it plus repositioning will take 10 days....in good weather.....and they might go straight to ernest and that is more probable....I cannot see them setting the rig up again just to flow test....more likely that an appraisal well to find the limits of the reservoir or something like that at a future date...

Prosels...give it a rest will you ?...ok you were right to hold...and not sell...but at the time it looked like the right thing...we were not to know that several consecutive rns's would come within a few days...let's move on now...cheers...

As soon as possible....when ?.....if they do it in 50 days time great....what do I care....the more the merrier....it's just that I think that they will skip it and drill ernest...

Fox Davies Capital note

Rockhopper Exploration (LON:RKH) (BUY, 4.00) (RKH, 240p, ► (0.0%)) provided an update regarding analysis of the results of the Sea Lion 14/10-2 well oil discovery recently completed in the North Falkland Basin. Well 14/10-2 on the Sea Lion prospect was drilled to a depth of 2,744m. The well penetrated what the Company believes is a regional seal between 2,250-2,374m subsea. Based on log analysis, well site evaluation of shows and samples, sidewall cores and wireline formation testing, it appears that all sands encountered beneath this regional seal at the Sea Lion location are charged with oil and no oil water contacts were encountered. The top oil sand in the Sea Lion well was encountered at 2,374m subsea, and the base of the lowest oil sand level was encountered at 2,591m subsea. The total vertical oil column is 217m, with total net pay of 53m in seven identified pay zones, the thickest of which is approximately 30m gross. Samples analysed in a dedicated laboratory confirmed as medium gravity crude oil of 26.4-29.2oAPI. The RPS Energy Best Estimate recoverable has been upgraded from 170MMbbl to 242MMbbl recoverable with significant upside potential.

Comment: This better than expected results give us confidence that Sea Lion is likely to be a commercial success of material size, whereas the current share price only discounts a 30% probability of success for Sea Lion and no success elsewhere. The Ernest prospect is also materially de-risked and carries estimates of some 150MMbbl. Assigning a 50% probability of success to the 242MMbbl new estimate at Sea Lion and a 25% probability of success to 150MMbbl at Ernest result in a risked NAV in excess of 400p; hence we upgrade the stock to a Buy rating with a 400p target.

Another important point .....'regional seal'

Means the rocks are of a type that the oil and gas has stayed sealed under it for millions of years and won't have let the lighter oils and gasses leak away to the surface like in some places in the world.

Nice note....well...we are at 326p as we speak....not that far to go...

RF ..... don't be churlish ..... marky has hammered on and on about these falkies stocks for years ..... many, including myself in spades, gave him a very hard time, so let him now dance a well-deserved jig and hope that lugging his sack of gold to the bank does not give him a stroke

Back to 330p the bouts of UP and DOWN will continue never the less

RF STILL full of shite I see.

Thats the price after a successful flow test....

........Oriel Securities analyst Richard Rose said he now values the Sea Lion prospect at 750-800 pence per share.........


An easy double........and more.....


Patience.... patience is all that is needed and ignore the short term gyrations.

Frankly......I take my hat off to Marky and Prosels....so there you go...thanks because regardless of my daft sell earlier a few weeks ago.. I've still made a packet on Rockhopper...but this is just the start, so there is a lot more to come from these falkland stocks...and in the southern section : they haven't even got a rig yet !....

and no one knows if there is any oil there either!

Chav : you are true to form....rude as ever...some northern swear word...which I'll never understand....don't seem to speak english do we ?...

Latest .......

LONDON, June 4 (Reuters) - British oil explorer Rockhopper upped its estimates for the closely watched Sea Lion oil find in the North Falkland Basin and said further upgrades were possible, sending its shares soaring.
The Sea Lion well is the first oil find of a controversial exploration programme in the Falklands.
"Our analysis of the data from the Sea Lion well suggests that there is significant potential upside on our acreage," Rockhopper said in a statement on Friday.
Shares in Rockhopper, which takes its name from a breed of penguins found in the Falklands, jumped as much as 52 percent in early trading and were up 28 percent at 307 pence at 0807 GMT.
Other Falklands-based explorers Desire Petroleum, Falkland Oil & Gas and Borders & Southern gained between 8 and 19 percent.
Shares in Rockhopper have multiplied in value more than 5 times over the last month but had plunged earlier this week on fears the oil quality would not be as high as expected.
The firm said on Friday that samples analysed confirmed the oil was of medium-grade quality and that even at the low case estimates, the prospect would be commercial down to an oil price of $50 a barrel.
Commerical production could lead to an economic boom for the remote British territory, home to about 3,000 people, but could also result in increased tensions with Argentina, which invaded the islands it calls the Malvinas in 1982.
Rockhopper also said that pressure data indicates the existence of two separate oil columns and that the oil level goes down to 116 metres below the lowest previous mapped point of the Sea Lion fan.
According to RPS Energy, the best estimate for recoverable reserves is now 242 million barrels, compared with a previous estimate from last April of 170 million.
Oriel Securities analyst Richard Rose said he now values the Sea Lion prospect at 750-800 pence per share, but highlighted Rockhopper will need to raise further funds for flow testing.
"There was no specific guidance on the other prospectivity on Rockhopper's blocks although the Sea Lion result has clearly derisked the potential of the northern acreage in the North Falklands Basin where the company has several prospects," he added.
Rockhopper said it will seek to test Sea Lion well 14/10-02 as soon as possible, as well as start drilling the high-risk Ernest prospect.

From todays RNS


Examination of side wall core samples confirms extensive good oil staining and
good reservoir characteristics. Logging data are indicative of good quality
reservoir, with average porosity of 19% and good permeability.


Which means in simple terms a flow test is just a matter of ticking the box...... there is no reason why it will not flow and flow well. Side wall cores are great for gaining a full understanding of what you have with all other data.

RF...please explain!!!!!..."and in the southern section : they haven't even got a rig yet !.... "

What is not factored in is all the other prospects that RKH now hold are worth X amount before they are drill as the basin is proven.....its a win win story.

Looks like we can expect some more volatility in the sp around ernest driiling day !....