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.

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Mnamreh,

Totally agree. What I am mainly saying is that I would not go out intentionally to gain info, but I put it to you, if you were in a position where you were inadvertently given inside info to a situation in a company that you had say an investment of 10,000 and that info indicated strongly that if you sat tight you would likely loose the lot, would you act or not.
I am just trying to be honest, by saying I would probably (OK almost certainly) act on the info I had.
I see a huge difference in coming by insider info be default to by intention.

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well i'm honest enough to say "of course i'ld act" ..... and when is inside info inside info? - e.g. what if you overhear something in a restaurant or a train or similar? ..... that is far removed from actively seeking confidential info

we all bend ears to get ahead.....level 2 looking for another step up

Glad I held my nerve & didn't sell at the bottom of the dip. Presumably this level (480-490) shows fair value atm?

I should hear news just after AGM tom......lots of news to come......wish they would hurry up with news on the upgrades of Sea Lion.

Well the meeting is underway .....Waiting for news..... nothing on Twitter like Unite union meetings!!!
sp dropping away and some mediocre mutterings on Sharecast

"There will no doubt be a lot of back slapping at Rockhopper Exploration's annual meeting later today as shareholders hear how the group's stock has put on a remarkable 786.9 per cent in the last 6 months. But Rockhopper is still a small cap and will attract a disproportionate number of naysayers as a result. Hold, says the Independent."

The last bit will please Pros!

Result of AGM

Calm down everyone this is my share of the year.

given by non-reaction of sp and no comment here either, i assume agm was a bit of a damp quib

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They always are....waste of time going to them (not that I've ever been to any, just guessing).....the news is never then, they only talk about what has been....it's the rns's to come that should be interesting....

I love AGM's especiaaly when they are held in a brewery.

Whitbread and such.....good idea...cheers.....

Youngs used to be good!

Anyone at the AGM? Was the questioned raised re upgrades and/or likely timeframe for next rns and if so what was the respone?

Smiles all round at Rockhopper's AGM

As Journey's feel good tune "Don't stop believing" blasted from loudspeakers at Rockhopper Exploration's (RKH) annual general meeting, it was clear that this was a company revelling in its success.


Hoards of shareholders lined the street outside the Gibson Hall London to take part in this feted event and catch a glimpse of the management team steering the company to black gold riches.


As the board of directors filed onto the stage against a backdrop of glistening chandeliers and a glossy slide show of its operations, row after row of attendees burst into rapturous applause.


"Last year we had four attendees, this year I think we have considerably more," chairman Dr Pierre Jungels joked before his captivated audience.


But then last year, AIM-listed Rockhopper did not have the lucrative Sea Lion discovery in the Falkland Islands to its name.


The company watched its shares shoot up when it struck oil in May and rise again 50% this month alone on a successful well test.


Chief executive Sam Moody told the audience he was "delighted" that the first ever discovery on the North Falkland Basin proved much more attractive that pre-drill estimates had initially suggested.


The question now is... just how big might it be?


"When we drilled we encountered greater net pay than anticipated and have since upgraded our recoverable oil estimates to 242 million barrels from the earlier 170 million," Moody said.


While he acknowledged that the company could only determine the full extent of oil present through drilling more wells, he noted that good results to date lead it to believe that it will "encounter thicker reservoir and higher flow rates going forward."


"There is a huge amount still to go for here," he boomed to his enchanted audience.


He was quick to quash fears that the political dispute between Argentina and Britain over the sovereignty of the Falkland Islands could mar its campaign.


"Our success has been solely supported through the UK with no input from Argentina and this will continue to be the way."


Rockhopper is now evaluating different ways of filling its coffers to fund its ongoing exploration programme, but was quick to assure its shareholders that their interests would be very carefully considered in any of the options.


One shareholder David Richards rose to ask the question about whether a potential farm-in with a major might suffer from resistance and problems in light of BHP Billiton's (BLT) recent decision to withdraw from southern licences.


The answer was a resounding "No".


Others questions from the audience ranged from the obligatory rig availability (Rockhopper is currently discussing options to permanently retain the Ocean Guardian rig in the Falklands) to the downright inane regarding a number plate P50 RKH possibly for sale, and bringing with it much laughter from the audience and board alike.


Perhaps inevitably, the question of safety cropped up given BP's (BP-) devastating Gulf of Mexico oil spill to which the chairman chimed: "For the past 40 years, 99.9% of offshore wells have been developed without trouble.


"We have a good team of people managing the rig and the drilling and we work to the highest standards and we are proud of our record so far."


Its greatest fear, it said, was the possibility of another financial dip in the markets which could affect its ability to raise funding - this Dr Pierre Jungels noted, was far more of a worry than any geological or political questions.


But there was little sign of worry etched onto the faces of its loyal shareholders who promptly passed all of the company's resolutions. This included the re-election of ex-easyJet (EZJ) finance director Chris Walton, prompting the chairman to joke that clearly no one had flown with the airline.


As the meeting drew to a close, shareholders once more applauded the team of men before them who have transformed Rockhopper's fortunes.


And in the words of Journey, "Oh the movie never ends, it goes on and on and on and on."

From iii

Hi All

I've just come out of the much anticipated RKH AGM and wanted to give my account of what I saw and a conclusion of what was said.

Before people start launching into criticisms the views expressed below are my own opinions of what I saw and reserve the judgement to be wrong! Also I was not wanting to go to the AGM to miraculously find a P10 upgrade. I wanted to see the body language, atmosphere, aura and general demeanour of the people who are in charge of MY capital.

When I arrived there was a queue outside and seemed there was a plethora of investors ranging from all demographics. Old, young and the inbetweeners. It seemed RKH had captured the imagination of a fair few people within the investing fraternity.

Once we had made our way through check in we were led to the Main Hall. Upon arrival seating had been arranged for around 400 people however by my estimation it was probably closer to 200.

The BOD arrived and were treated to a rapturous applause. PJ welcomed everyone and stated rather humorously that last year they had 4 shareholders and this time round they had over 200 and so something must have gone well. He then outlined the agenda stating there was going to be a slideshow presentation, SM and then PJ to make some comments, questions from the shareholders and then the regulatory stuff.

The opening slideshow presentation was awe inspiring to say the least. As a relatively novice PI we forget the work put in by the great skills of the riggers on board the OG and the risks they face in finding black gold. Seeing those pictures was amazing, the OG in it's full glory with all those brave men on board, you guys are the nut's! The slideshow really made the hairs on your back stand up.

After this positive opening the chairman PJ announced the full time appointments of the FD and Exploration Director. Might I add at this point what a charismatic and charming man that PJ appeared to be.

SM then took centre stage and proceeded with the opening sentence and an apology to all the technical oilies in the audience that he was going to give a non-technical presentation. Perfect for the likes of me! He stated that it had been a 'pretty decent' year thus far and that the Sea Lion (SL) discovery was 'exciting for us' due to the 'size feature'.

He then went on to discuss the SL fans encountering charged sands. He stated that at this stage he didn't know much of these sands were fully charged and that appraisal wells would further provide proof. At this stage he did rather positively state how big it could possibly be and the upside is 'very significant'.

Rather intriguingly SM then went on to talk about the recoverable estimates provided by RPS. He stated there had been a considerable 'disagreement' between RPS and RKH over the low estimate and recoverable. From this I could gather that RKH wanted a bigger banked minimum from RPS which they were unwilling to provide at this stage. He made a brief comment on the disagreement then went to say 'that's all I have to say on that'.

Then SM outlined the possible future which is available on the RKH website which I won't list, DYOR. He also stated at the end of his speech that there is nothing to suggest that this will be a difficult oil field to produce from.

PJ then took centre stage and brought up the fantastic chart that was entitled Value Creation and my god what a masterpiece this was. Check it out on the RKH website. This graph really encapsulated the fact that we are at the very beginning with production being the end goal. PJ also stated that post appraisal would be the best time for a main FTSE listing adding that they could get to FTSE 250 now however would have to jump through to many technicalities. Would rather wait, firm things up and then move.

After PJ had finished questions were then invited by the floor. I'll summarise a few. Question about Ernest- plenty of potential, encountered good flows, and wrong to scrap Southern part of NFB.

Question about permeability of SL and in earlier RNSs it was mentioned and nothing since- waiting for further info (I would imagine given when upgrade is announced). Question about rigging slots - 2 slots still available after DESs 2 spuds and SM did allude that it very much depended on Rachael however couldn't see any problem having one of these slots with or without Rachael's success. They were 'partners' after all.

Question to DB about waxy oils- no problem at all, PJ stated that during flow testing it was a slight issue however owing to limited resources.

Question about big risks facing RKH- only financial risks regarding general state of markets, NONE from A geological or political sense. This was very powerful.

Question about CPR upgrade- SM joked, sometime this year! So there will be one hey Sam?

Question about SL being a standalone field- due to size of SL don't anticipate this being a problem.

My fellow Rockhopper's I've tried to give an accurate and realistic account of today's AGM for those of you who couldn't make it. I'm sure other attendee's will also give their account.

Long and short of this is it was presented in a very positive manner, a relaxed state however mindful of letting on too much. I for one believe RKH has a great future and is going to provide financial security for all those who come across this company.

Kindest Regards

DP

RF,

Agms are valuable more on what is not said than what is. I think we will have to wait until we see a few reports from attendees to decide if it was worthwhile or not. Todays sp it purely down to there being no RNS. Punters are expecting too much in too short a time. Some must think the well testing being conducted is as simple as a litmus paper test, turns red if the oil is good, blue if it ain't.
Patience is required.