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.

LOL.....

Should be looking between 600p to 700p after good flow tests - good meaning it flows......

Thats without any upgrades to size based on determination of the recovery factor.

I would suggest ignoring the muppets who have called it wrong at 90p, 120p, 150p, 180p, 230p etc etc etc etc etc... ;)

LOL

You will have egg on your face if it is not 600p......how's the chip on the shoulder ?......are you forgetting that we bought back in after the quick profit taking ?...childish behaviour prosels....

certainly no one is a fool who banked a profit .... the fools are those who see shares drop away (we've all done it!) and failed to bank profits, and ended up with nasty losses

Well we have a bit of a wait until these much awaited results....

certainly no one is a fool who banked a profit .... the fools are those who see shares drop away (we've all done it!) and failed to bank profits, and ended up with nasty losses.
these are the truest words ever spoken, I am the master at this.....

It's happened to us all, the thing is to learn from past mistakes.....

Proselenes

Just to say thanks for the explanation.
I obviously realise, as Cynic said, that it is all down to supply and demand, but you have to start somewhere in order to decide whether you want in (or not, as the case may be).
Following someones logic and deciding what you agree/disagree, and then making your own adjustments, is a good place to start.

So, thanks.

don't mh, his head will explode.,.

I think that the sp will start to creep up just on anticipation of good results and buyers, .....this morning it has started....perhps 350p within 2 weeks...just a guess...

If it does reach near to 350p in 2 weeks i will be locking in more profit

wouldn't be surprised if this is a one well pony.....rachel will be the decider.,.

6% only in that one I think....big one for DES.....if that fails ouch ! for them...

I see there was a huge BUY OF 250,000 at 13.51 some one is very confindent of the results of the flow test.

unless it was a massive bear closure!

Everyone should note that after testing the Sea Lion well it will be Plugged and Abandoned. This is due to the high cost of keeping a well in "suspended" status and the need to revisit often to check.

This means that all the money presently deposited with the Falklands government will be released back to RKH, which will give the cash balance a nice boost.

This is the plan, so as to prevent misinformation later when it is Plugged and Abandoned (no doubt some idiots will be posting at that time that P&A is a bad sign as they try to short), everyone should be aware now.


FIG Mineral Resources Department.

"Rockhopper Exploration spudded their Ernest well (26/06-1) in licence area PL024 on 23rd July and have announced that the well did not encounter any oil shows. The well has been safely plugged and abandoned This was another first; the first well to be drilled in the southern part of the North Falkland Basin and the data will be of huge benefit to the understanding of the geology in this area and will assist companies in deciding where to drill future wells.

The Ocean Guardian has moved to Rockhopper Explorations Sea Lion well, (14/10-B) that was drilled in April/May where hydrocarbons were encountered, resulting in the well being suspended for re-entry and testing. After testing, the well will be permanently plugged and abandoned. The current programme includes anchoring up, re-entering the well, drilling through cement cores and locating the hydrocarbon intervals, testing and plugging the well, is anticipated to last 25-35 days. Actual flaring of hydrocarbons is likely to last less than 48 hours. These are encouraging steps but there is no gua guarantee that the well will produce commercial hydrocarbons until more appraisal wells are drilled and further analysis is carried out over the following months and years to establish the economic viability of the field.

After the drill stem test on the Sea Lion prospect, the rig will be contracted by Desire Petroleum and their Rachel structure will be drilled which is located south of Sea Lion in licence PL004. "

RNS 07.00 hrs 25th Aug '10
"The Ocean Guardian drilling rig is now preparing to proceed to the Sea Lion location where the Company intends, subject to all necessary consents, to carry out a flow test on the Sea Lion discovery well 14/10-2. Submission for approval of the final design for the flow test programme was made to the Falkland Island Government on 24 August 2010.

The design for the initial flow test uses equipment that is available on the Ocean Guardian and certain chemicals which are expected to mitigate the wax appearance temperature and the pour point of the oil. The flow test is expected to give an early indication of the production potential of the reservoir sands and will be an essential part of the planning process required as the Company moves towards its full appraisal and possible development programmes.

A further announcement will be issued once the Ocean Guardian is at the Sea Lion location."

A sensible post from pros at last, this is the bit that count's :-

These are encouraging steps but there is no gua guarantee that the well will produce commercial hydrocarbons until more appraisal wells are drilled and further analysis is carried out over the following months and years to establish the economic viability of the field.

I shall be old and grey before we see 10/share if ever. Cynics 4.50 is a good level after testing IF the test is good, or 1.50 if not so good. imo

Better hope that it does not do what the Bowleven sp did (BLVN) after testing : 14000 barrels per day and the sp down 20p....

Looking at the best site I have ever seen (as an oil layman), I do not see how this will take years. I think the mention of 'years' was to dampen down those who want/expect jam (or should that be oil) tomorrow.
Yes, appraisal well might easily be sunk for years, but that does not mean that the oil will not be proven commercially well before then. Further appraisal wells may just be to indicate if there is further oil reservoirs in the initial well area.
I expect that there will be sufficient results to enable Rockhopper to do a deal with a producer, within 6 months at the outside. The shortest timescale I have found was in 1965 when BP went from a full well test (this was a gas field, but I would think there are equally promising examples of oil field if I knew where to look) on the 9th December to announcing a commercial strike. Several more wells were drilled, resulted in a far bigger field than was initially thought. Surely with oil becoming more of a scarce commodity, oil producers will be fighting over themselves to obtain production rights, as early as possible.
As said, very much a layman re oil production, so if anyone can expand on the 'years' debate, I am willing to be shot down.
The site I am referring to was I think posted on this thread several weeks ago, but for those interested, it is, http://www.spegcs.org/attachments/studygroups/5/2009_06_PFC%20-%20Expanding%20Knowledge%20Workshop%20Session%202%20-%20SpeakingOilGas.pdf