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.

Fox Davies flash note

Oil & Gas Corporate News

Rockhopper Exploration (LON:RKH) (BUY, 5.00) (RKH, 468.5p, ▲ (11.55%)) reported the successful test of well 14/10-2 "Sea Lion 1. Sea Lion 1 was drilled in a water depth of 451m during April and May 2010 and suspended for future testing, having encountered a gross oil column of 217m with net pay of 53m. Initial MDT samples were confirmed as medium grade crude oil of 26.4-29.2o API gravity. Sea Lion 1 was re-entered during September 2010 and was flowed for 18h. The well tested at sustained rates in excess of 2,000 barrels per day with a maximum rate of 2,304 barrels per day. The flow test results are in line with Rockhopper's pre-test expectations and were significantly limited by downhole and surface equipment. The well produced no water, no H2S and negligible CO2. Downhole pressures were recorded and their analysis will inform the Company's development scoping plans. A number of downhole and surface samples were collected and will be further analysed in the UK. The test was carried out with limited equipment owing to the length of the logistics chain and timelines involved in securing such equipment. Rockhopper anticipates that the additional equipment that would be incorporated into any future test, when combined with a more optimal well location, would result in a significantly higher flow rate. Rockhopper now intends to plug and abandon the well as planned.

Comment: Those are decent flow rates even though such a sand body should be able to flow at much higher rates given the reservoir characteristics and the quality of the oil. Given the limitations imposed by the equipment, we agree with the Company that much higher rates should be achievable. We are encouraged by those results and are raising our probability of success for Sea Lion from 50% to 67%, resulting in an increase in our price target from 350p to 500p.

Rockhopper Exploration shares much higher on Broker coverage

Shares in Rockhopper Exploration plc (LON:RKH) continued to trade much higher today on the back of broker upgrades following the flow test results from their Sea Lion 14/10-2 discovery well. At 10.30am the shares were trading up 50.25p (+12%) at 470.25p having been up as high as 483p earlier in the morning.

Bank of America Merrill Lynch in their broker note set a price target of 700p, Fox Davies set a target price of 500p and Evolution Securities price target is 450p.

Desire Petroleum plc (LON:DES) down 2.5p at 150.75 was initially trading as high as 180p boosted by the positive Falklands oil sentiment and by a positive note from Evolution Securities with a target price of 166p.

Another upwards move,,,,

The order book/level 2 has gone slightly positive than earlier, and most of the MMs have also moved their prices higher since 12.01pm

Just had to take some profits.....risen so much with news perhaps all in for some time.....perhaps too early....but a profit is a profit....

Well done rf but I think you excited too soon.

as i keep saying, no one ever went broke taking a profit - but plenty do and will through being stupid and greedy

I just had to.....won't say how much I made...but for me ...it's a lot....

Well done Rf, now plough it all back in to DES!!!! ;o)

Not yet Harry...has to settle first....and no way am I putting the whole lot on DES.....that would be like a casino....

My generation baby.

To me the sp is up with events now.....would not pay 480p for them now....later towards christmas, perhaps ....

Oh dear RF has sold, now we are going to get bombarded with "its over valued" kind of posts until RF buys back in again.......

Deja Vu ? ;)

Yep !....

It's up with events.....but this will go further when more wells are announced....hey !....crikey it's done incredibly well so far and more to come later...I might have sold too early but had to take some profits,....thanks once again Proselenes....keep posting great posts......

oh no, not more reminders.....please

RF - you were quite right ... if you had a target and met it, that's the right action ...... Mr P can spout all the shit he likes, and just possibly sp has a lot further to travel within the very near future, but no one has that kind of 100% foresight

You have to laugh at the nerve of Papel Power.

For 10 years i've watched him ramp stocks on many boards none stop then
the moment he sells he himself "bombards" the threads with deramps and he
has a go at RF, i think we can all see RF is just a day trader and rarely holds
a stock for more than one day, plenty of them around at the moment.

there's nowt wrong with day trading, and i guess if you're good enough at it, there's plenty of money to be made

???...nonsense.....some I keep for years....