.

Look at the size of Loligo against where the rig is. This drill was only about proving they had hydrocarbons in "x" amount of reservoirs. Its done that with a single good location for testing all 5 targets, bad location for net pay.

3D seismic and then appraisal drilling next round.

But the whole Eastern Falklands is now in play - and that is over 80 billion BOE potential on a P50 basis - simply huge - and its in play as hydrocarbons are now PROVEN !!

Sweet spot future drilling and Loligo could easily be over 25 TCF recoverable, that was its P50 pre-drill estimate.

Yes we will see rigs over this area for many years to come.....nobody can sure how much gas yet but this is a very large find indeed....

Funny...where are the negative bunch ?.....no sign of them....and this is good for the next drill...the seismic now becomes doubly interesting to try and define the limits of the field......they will definitely be drilling a few wells here in 2014 !...and I wouldn't bet against Scotia being oil.....or gas...just.... where are the negative bunch....?...

well done RF and others, hope you make a bit of profit but I've never seen a gas find go megga bucks.,.

Cove did....and this looks like an equal to that East Africa play.....and proves a massive hydrocarbon system is here !......from now on every drill could hit something.....proven play is the name of the game.....if the sp drops on opening : jump in with both feet.....it should go up by 20p.....perhaps more...

RF - you obviously didn't read my post (1903) first thing this morning (from dubai!) which beat you to the punch

for sure sp will surge this morning, but how large a rise that can be maintained remains to be seen ...... would hope there is a knock-on effect on RKH, even if they are in NB and have found the "real thing" rather than gas

Looks like the sp is done....thought so.....can't see the wood for the trees...

where is the bid at? cant get a quote?

In permanent auction atm it seems.

In auction.....to me this an excellent result, but to the market...?...

So it only found gas but no oil...

The market wanted oil. 61p to sell atm.

hope you haven't got burnt too much rf.,.

just goes to show that none of us knows diddlysquat! ...... along with everyone else, i thought sp would surge, but it is clearly Australian!

Picked up some more......market is wrong : this is a good result with everything to play for....I thought it would drop because this country is nuts anyway.....but now when the real value emerges....the sp will recover for Scotia......you can't win.... probably a commercial gas discovery in large quantities and the sp drops with a now proven system....nuts...

"market is wrong".........that's a brave call rf. A bit like betting against 'the House' at the casino!

oh dear :(

It's a disappointing RNS... that's all.

Now the sp is recovering....like I said....

Get a life hyleo....