.

"full fathom five"

:o)

Some Tempest there will be if no significant oil is found this time.

could we estimate that in sd, perhaps if it becomes apparent that sealion is not a commercial find then like DES we are heading for 30p.

I think that is a fair estimate halifax. Who can tell at this stage in reality? The oil that RKH found might just be a small 'puddle' in comparison to what it is hoped to be. I hope I am wrong but it could be that there is very little oil in the Falklands. If so then yes, 30p is feasible. :o(

Yes, and likewise the oil they have found might be real, and the last drill which found 7.3M of oil pay 8Km away and in communication with the original discovery might prove to mean Sea Lion contains 500 MMBO of recoverable oil and the price will be over 10 by the end of the this year.

Perhaps their over 200m in the bank might be real as well.

Perhaps finding oil in the cores of the S2 fan means a drill updip will find another 200 MMBO recoverable in the new S2 fan, which is deeper and older and that original S1 Sea Lion Main fan.

Perhaps..... well, perhaps we should all wait for drilling results - cause that is the only thing that matters.

Perhaps you're right! ;o)

If they don't find oil in this new fan does this mean that the first discovery is still viable ?.....hope I understand this correctly.....this is part exploration...part appraisal.....so we could just confirm what we have, plus there could be a big bonus.....so perhaps with cash in hand the sp would stand up even if the deeper drill does not work out.

I still don't fully understand what downdip and updip means.....sorry...

.

interweb ?....crumbs ...I need a day off it seems...what's that ?...

Arachnophobia? or is that outerweb?

.

well - march arrives next week & days ticking down to the drill results - whatever the outcome rkh should follow the same well trodden des pattern as we close into results - and i dont want to miss that sp rise/s pre-drill result

if what rkh found so far is all that there is at the end of all drills rkh will be uncommercial & worth more like .30p not 30p - but i do not see that happening hopefully anyhow - lets hope for black gold & 10+

We already have one confirmed discovery flowing at 2000 barrels per day and would have flowed at 4000 barrels with the right equipment.....this well is to test deeper sands from what I understand.....even if the deeper sands are not commercial, I don't think that it can change the original discovery....and the sp has taken a hell of a knock since then....500p down to 230p....so far .....a little too much to me it would seem......more room for an increase than a further drop it would seem....but the market is the market....I never thought that RKH would be sitting so low after such a good SeaLion test flow !.

rf - well reasoned -we are living in strange times - whatever happens i can not see rkh drifting much more - would not be surprised to see a spike of around 15% this week as we get nearer - interesting day ahead tomorrow and thru march till results

Some new 3D data from the ongoing seismic campaign is available from DES. Potential to add lots to the size of Sea Lion by a southerly extension is now firm.

Post below from Stu555 over at III.


.......

++++++++++++++++++++++++++++++++++++++++++++

Here is the new information on the DES website...

http://www.desireplc.co.uk/images/uploaded/1472131_3252464.pdf

And here is Sea Lion super-imposed onto the information contained on pg 11.

http://i53.tinypic.com/2ii7lud.jpg

I've added the orange region to help visualize the significance of the broad nature of the DES leads that end at the RKH block boundary.

Feel free to think of an alternative shape that fits the information more neatly than the one I have shown.

So if the Southern Lobe of Sea Lion is 170-240MM bbl, then how much oil might the new seismic data add?

Have I mentioned my opinion that RKH are currently in a buying window?......

If, as it looks from initial info, the Sea Lion structure of fans does indeed go down to Ninky and Rachel in the DES acreage, we could be looking back to P1 figures of over 1 billion recoverable barrels for Sea Lion.

Enjoy the ride ahead, I have always said I will look and review come the end of the 2011 after lots more wells, and that remains the case. A good result here and RKH will be back nearer 500p levels in a flash, and pending what happens after that with Ninky and seismic and more drills, onwards to over 10 for year end.

As far as the drill bit goes, they should be in the seal not far away from entering Sea Lion Main Fan upper.

Should be into that over the weekend. This is where the fun starts now.

I can't understand why there is more financial media interest in this, or from more punters here, to me this is a fantastic opportunity to get in low, and I have loaded up likewise.
A good flowtest does not become a bad flowtest so the to me the sp is way undervalued even without the deeper sands being tested.

P1 is on it seems, from the new 3D.

http://www.scribd.com/doc/45299085/Volumetric-Assessment-of-Sea-Lion-2010

"...........The high amplitudes would seem likely to extend further south than the 3D coverage and form a larger area. This possibility is represented by the P1 area of 100 square km.................."


:)

Up she goes, common sense returning along with drill bit now very near, or just into the Sea Lion main fan :)

Next week will be exciting !