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.

Good result,...but watch out for profit taking......4000 barrels is not enormous....but not bad....

AGM next week - what news will be out next week ? ;)

from me you will only get the truth in that respect! ...... i have no regrets about banking some very considerable profits over the last few days, while still retaining a slightly o'weight position at cost.

i've read the report and now ask whether a field which is guesstimated to have a potential flow of 4,000 bopd justifies a company having a valuation of >1.5bn ..... my guess is that that is way OTT, though of course RKH still has a lot of other potentially productive targets in the relatively immediate area.

marky commented yesterday that RKH was going to need a further massive slab of cash to develop the field, and of course RKH itself becomes an ever tastier t/o target

cynic, each production well is expected to produce around 6K to 8K bopd. So if RKH do 5 production wells on Sea Lion they will have circa 30,000 to 40,000 bopd production.

That is not the valuation metric here.

The valuation is the amount of oil in there............ massive amounts of oil which can be produced with multiple wells.

Looks like, to me, nearly 1 billion recoverable barrels will be in Sea Lion !! That is what is driving the price........ its about the size !

Overvalued on one field alone, but there are other prospects....and this company is irritating me with their double rns's...just when you think that is it : another comes along......still think that a heck of a lot of profit taking will kick in....

Skinny, regret to say your link doesn't work in your post #2800.

"Rockhopper Exploration plc is pleased to report the following update from the recent flow test on well 14/10-2: "Sea Lion 1".

The test was carried out over four perforated intervals totalling 77m between 2,403m and 2,566m (below drill-floor). Upon retrieving the perforating guns, a gun misfire was apparent and only the top two intervals were found to have been perforated, meaning the lower two intervals did not contribute to the flow.

After perforation, a small amount of oil was produced into the tubing to clean the perforations and enable downhole oil sampling. The well was then shut in for approximately 2 hours to determine the initial reservoir pressure. The final recorded pressure was 3,385 psia at gauge depth (2,344.6m below drill-floor) and was still building.

The well was then opened to flow through the three and a half inch test string, initially on a 24/64th choke, opened to a 64/64th choke during the flow period and reduced to 44/64th towards the end of the flow period to allow samples to be taken. The well was flowed for approximately 18 hours without incident and for sustained periods of over 2,000 barrels per day ("BOPD") with a maximum rate of 2,304 BOPD. The final flowing wellhead pressure was approximately 120 psia. A wax dissolver chemical was injected at the subsea test valve to mitigate the appearance of wax.

Rockhopper believes that the flow rate was inhibited by incomplete perforation, waxing of the tubing string above 800 metres, increased viscosity of the oil as it cooled in the upper part of the test string and a lack of specialist equipment. As such, the Company estimates that the well could have flowed at approximately 4,000 BOPD without these constraints. Rockhopper also believes that, with a more optimal well location and horizontal well completions, significantly higher flow rates could be achieved from future production wells."

And who told you RF that another was coming !!!!!! Believe me now.

And there is another 3 at least coming, IMO :) in the coming 6 to 8 weeks.

OK and what content....in short lines if poss....

DYOR ! Mr Ramp / Deramp (based on whether you have purchased or just sold).

Don't usually post on this thread, as I find it difficult to get my head round any oil info figures, as my oil knowledge is limited to that expensive, messy stuff you put into a car engine.
All I tend to do is compare with other oil fields, flows, quality, pressures, size etc.
I do have an excellent site but it takes some understanding.
http://www.spegcs.org/attachments/studygroups/5/2009_06_PFC%20-%20Expanding%20Knowledge%20Workshop%20Session%202%20-%20SpeakingOilGas.pdf

So happy to leave posts to those with more knowledge.
Just wanted to say thanks to those that post with more know how.

NOTE..... This was posted on another site at 11.47 on tuesday...... Rh1n04real wrote: Afternoon all just had a phone call saying that when they ran down to perforate only the top guns fired so therefore they only well tested one zone which would make sense on why there calling this sealion 1. I believe that there is another rig coming in about 5 months but not sure if it will be for RKH or DES ive been told that this will be talked about in the AGM.

I appreciate we read so many, 'I have inside info' posts, that are just someone spouting off, so I never pass these on but, as he/she was right re the 'guns info' it is make your mind up time if the other info has credibility. Not saying it is or not, but thought it would be worth mentioning.

Prosels ...don't get me wromg...in time this could be 10 or more.....but I try to maximise....and don't always get it right...but I don't like losing...so I have a tendancy to go with the flow of the way I'm thinking....at the moment ...profit taking might and should kick in...

meanwhile, some sanity has returned to the market, and sp has dropped back pretty much to o'night levels having been +40 at opening

I think we shall have to get used to their double rns's....one a few days after the first one...seems to be a trend with this company......for me this is now a 450p target, unless a takeover or a second rig appears...or anything else....

Profit taking kicking in now.

What was I saying ?.....

re - sp has dropped back pretty much to o'night levels

They say sell with the news, that is what it seems is happening
now just below 500p, a dangerous point

and i still got a 550 sell order for today

does one buy again at 490?

RF better to have too many rns's than none at all as with some companies.,.

True.....so far very clear ones at that....