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.

It was Violet Carson and then Harry Hudson. :o) .

Derek Roy hosted the british version 1955

Now what was the name of that oil company we were talking about ?

Some information on Argos Resources which will be coming to the market to raise some money. Their acreage is just opposite RKH and down from des DES.

I will set a thread up when we get more information.

http://www.bgs.ac.uk/falklands-oil/images/legislation/A3Map.jpg

http://www.hbmarkets.com/assets/0/169/171/5444e519-c2d8-4172-9018-b3a4c0c3ffa3.pdf

Apparently Argos are struggling with their fundraising at the moment.

Am not surprised as there on about drilling in 2012.......they need to pull there finger out with the 3D and jump on the back of the OG.

That certainly would be their aim Marky but will depend on how much cash they can raise...Toroa and Liz will have made some nervous in the city but a successful Ernest and flow test on sealion could see that change.

I dont know if you picked up on DES and RKH submiting changes to their EIS?

Next few months could change everthing big time fingers crossed.

DES/RKH would have had to change their EIS for flow testing. DES never really had anything in their original because they said they would P&A all their wells and the chances of finding anything to test was very small!

A useful map with locations on, thanks to ARG :)



.

http://www.argosresources.com/

Pro
That helps enormously.
Marky
Would you consider changing the map in the header so that we don't have to go back to this post in the future?

Agree Avsec.. very helpful map... makes you realise how far away ernest is from last discovery with liz in-between.....makes you wonder if oil will be struck..only time will tell.,.

Avsec.... Done and updated header info.

marky - i think you're pretty positive on ernest, but tend to agree with BB, so please enlighten

Johnson Gas discovery and Sealion Oil discovery are kissing distance apart so why should Ernest, being 75 miles away from sealion, be a problem?

Ernest, like all the rest of the targets, could be Gas/Oil or feck all....such is life with HC exploration!

Marky that's great!
Many thanks

Think i'd have more confidence if rachel were being drilled.,,.

Of course this comment today from Argos

........Argos Resources reckons that approximately 30% of the Johnson Gas discovery, drilled by Shell in 1998 but only declared as a discovery by Rockhopper Exploration in 2009, extends into Licence PL001. Argos Resources has not had the benefit of access to Rockhopper Explorations 3D seismic or any of their proprietary studies and will no doubt have to enter negotiations with Rockhopper Exploration on the subject in due course........


Now means that should Argos wish, they will pay likely 30% of any costs for this discovery in future. It has no value now for RKH in the equations, but in a few years time you never know, for now, oil is the focus.

Cynic there is a post from iii which i think sums it up in one I think i read some where Ernest had a 40% of finding oil which is a high chance in oil terms.

The answer to this question will become clearer in the coming months as the geology of the basin is further understood, but for now here is a few thoughts of what developments are likely to happen in the next two years.

Area 1: South North Falklands Basin (SNFB)

Firstly Ernest, as I wrote last week, I believe that Ernest is the key to the SNFB (South North Falklands basin) and it will give a lot of information on local source and migration pathways. Data from Ernest will be essential in helping Desire (DES) decide which of their giant plays, Jacinta (1.1 billion mmbs) or Alpha (1.6 billion mmbs) has the greater chance of success. These plays are critical to DES (and Arcadia wrt. to Alpha) and will open up the entire economics of the SNFB.

The SNFB is critical to future RKH plays Keppel, Pebble, Weddel, Saunders, Beauchenel and Ruth Kate and Barbara for DES. Based on a positive Ernest and local source suggesting likely Jacinta or Alpha, I believe that a second rig will be essential.

Given that a rig can carry out a maximum of eight drills annually a shared annual contract with option of a second year would be easily covered by RKH/DES/Arcadia.

Assuming that the exploration wells for Ernest and either Jacinta/Alpha are in the existing OG contact, the subsequent drills year 1 could be:
Ernest Flow test
Alpha flow test
Weddell exploration/flow test
Alpha appraisal 1
Ernest appraisal 1
Alpha appraisal 2
Weddell appraisal
Ruth Exploration/flow test

Area 2: North East North Falklands basin (NENFB)

To me this is the area that is now in the bag and will be where the Ocean Guardian spends the next 2 years. The regional seal and proven source provides enough prospects to keep the rig busy for the foreseeable future and maybe will be into production in time to see Jessica Ennis win Gold.

Sealion will need to be flow tested (in the current contract) and will require at least two appraisal wells to prove out the P10 area and three or four for the P1 area(4). DES have the Rachel exploration well (and flow test?) in the current OG contract, and when(!!) it is positive, they will also need two appraisal wells (6).

RKH will be anxious to drill Fox (7) to test the northern extremities of the regional seal, and Jason (8) to test the east. That is without mentioning the most likely successes in Meredith (9) and Chatham (10).

Des will want to test Anna (11) and Anna Deep (12) to test the southern extremes of the NENFB.

The curiosity will be in finding the oil/water contact and understanding the full extent of the geology. With each exploration/appraisal drill this will become more readily apparent. The existing Sealion data will be already analysed and the geological model underway.

A positive Rachel and Sealion flow test will give both RKH and DES the capital to fund the NENFB as far as the positives will allow.

Area 3: North West North Falklands Basin (NWNFB)

This is where the data from Liz is essential and potentially has less impact on RKH than the other two areas. However it is critical for DES. DES have had the Liz data for some months now, and will hopefully be better placed to understand the impact of this data than any of us.

Rachel will perhaps provide additional help in understanding the NWNFB, but on the whole Liz is the key. I see Liz, Beth, Ninky and Pam to be part of the same story, and the Liz data will help with the early chapters. Sometime in the next two years the NWNFB will be revisited hopefully using data to generate the highest possible COS.

The alternative in this area is Anne, this prospect is more likely if the Ernest data points towards Jacinta rather than Alpha as Arcadia have a share of Anne. Being on the western extremity the data here would be useful to DES as I am sure would be sharing some of the cost.

To the North of this area is the Argos prospects, DES may wait for Argos to drill and provide them additional data before revisiting the NWNFB, and also any Argos data may be useful to RKH with respect to Bleaker.

Summary:

So, three areas, one (NENFB) significantly de-risked by Sealion, and will be more so with Rachel in the current OG contract. One is currently being drilled and may be de-risked by Ernest (at least in proving source); and the third with a disappointing Liz behind it, but plenty of opportunity in the next two years