.

So is that :

1st 60M
2nd 20M
3rd ongoing but LWD looks good.

Gross or net pay basis that would exceed present P50 levels of 170MMBO, so looks rather good.

This thread is losing the plot - big time!

If there is oil there : they must be into some of it perhaps by now, 23 days of drilling so far out of 38......an update might be on the cards very soon....

If they do go ahead and sidetrack, to find more oil, look for an OWC and also pass the time until April when flow testing can begin, which way will they sidetrack ?

Northerly ?

Westwards ?


What are peoples thoughts on a sidetrack and its target ?

RNS Number : 8809C

Rockhopper Exploration plc

14 March 2011

For immediate release: 14 March 2011

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Additional Drilling Slots

&

Seismic Programme Update

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, announces that it has entered into an assignment agreement to secure three firm additional well slots on the Ocean Guardian drilling rig. Rockhopper intends to utilise these three well slots after Desire Petroleum plc completes drilling operations on its next well, which follows the appraisal well currently being drilled by Rockhopper.

Rockhopper further announces that the acquisition of new 3D seismic data to the south of the Sea Lion discovery well, on licence PL032, has been completed and the Company intends to fast track the processing of this data. It is anticipated that the resulting processed data will become available to the Company during July 2011. The wider seismic acquisition programme, over areas of licences PL024, PL032 and PL033 and adjacent areas, is ongoing.

Sam Moody, Chief Executive of Rockhopper, commented,

"The additional rig slots will see Rockhopper continuing an exciting and considerable work programme in the North Falkland Basin this year. Our understanding of the basin has advanced following the Sea Lion discovery, and will be further enhanced by our current appraisal operations, together with new seismic data. This information will be valuable in identifying our forward drilling programme."

Short position as of Friday close is :

1.5m stock on loan (eg short).

About 100K more stock was shorted on Friday.

Will be interesting to see if that flatlines today with no increase when todays figures come out tomorrow.

Plan should be imo :

DES drill Ninky
RKH drill appraisal 2 - Westerly ?
RKH drill appraisal 3 - Southerly ?
DES/ARG raise money July/August
RKH drill exploration ? or another appraisal ?
DES/ARG/RKH all together sign a new rig contract for the next leg, sharing costs.

I guess some of the shorters are now buying back and trying to close out.

Could be some EO. money coming in.

A lot of the mega EO. bulls are now all posting they are/have sold and expecting bad (mixed) news....... so there is cash about, however, I think its a few shorters wanting to close out at the moment driving things ?

If the result was as prognosis it does not enhance, it only quantifies or clarifies your understanding. EG what you expected is what you got.

If the result is better than expected then it enhances..........

I would not get overexcited yet though, borgo reckons next week....... ;)

I would imagine Sam has had a few calls from the big institutions today following the RNS.

I am sure they will get an idea of how things are going by the mood of Mr Moody on the phone.............. ;)

Without some solid news on oil its going to be hard work going back upwards.

Will be lots of penny pinching day trading profit takers all the way - happy to ignore anything past a 2 hour time frame and purely buying a selling for a few pence each time.

So, until news on oil comes out, it will be hard work climbing upwards.

Of course, one good RNS on oil will change all that, next week Rodders.....

Ultimately if you look at many things, its the perfect time to release news, allows a few buyers now to buy loads of stock from the seller without looking out of place and then wham bang a good news RNS comes out.

The rise prior to the coming big news is due to the RNS today...... ;)

pp keep praying.

Lucky the Falklands is a long way away from Japan, and a long long way away from the Middle East.

Come on Sam, lets have a beautiful RNS Monday next week.

Borgo and the Barman seem happy, over at III ;) LOL

The Barman's supplies are all in. No more to come. He is ready to host the party.

The Barman says that the Owner will decide on the day and time of the party but it will be soon.

Never have I seen the Barman look so happy nor never have I looked forward as much to a party.

Here comes the sun ...... By borgo22

Can you be a bit more clear Prosels ?......my brain is foggy like the weather at the moment....

LOL

FD Buy rating and target price 500p

http://www.stockopedia.co.uk/content/fox-davies-capital-update-featuring-jubilee-platinum-cove-energy-egdon-resources-president-petroleum-nautical-petroleum-rockhopper-salamander-energy-kbc-advanced-technologies-stellar-diamonds-54825/

Oil & Gas Corporate News

Rockhopper (LON:RKH) Exploration (BUY, 5.00) (RKH, 222p, ▲ (3.98%)) has entered into an assignment agreement to secure three firm additional well slots on the Ocean Guardian drilling rig. Rockhopper intends to utilise these three well slots after Desire Petroleum plc completes drilling operations on its next well, which follows the appraisal well currently being drilled by Rockhopper. Rockhopper further announces that the acquisition of new 3D seismic data to the south of the Sea Lion discovery well, on licence PL032, has been completed and the Company intends to fast track the processing of this data. It is anticipated that the resulting processed data will become available to the Company during July 2011. The wider seismic acquisition programme, over areas of licences PL024, PL032 and PL033 and adjacent areas, is ongoing.

200K reduction in shorts yesterday from the figures just out.

Opened yesterday with around 1.45m stock on loan.

Closed yesterday with around 1.25m stock on loan.