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.

CANA upgrade

Rockhopper Exploration plc (RKH : AIM): Taming the Sea Lion -- BUY, raising target price 641p

Rockhopper Exploration plc
RKH : AIM : 440p | 847.0M | Buy, 641p ↑

Taming the Sea Lion -- BUY, raising target price 641p

Richard Slape, 44.20.7050.6643


Successful test of 14/10-2 ...

In mid-September, Rockhopper Exploration said it had successfully tested the Sea Lion discovery well, designated 14/10-2, offshore the Falkland Islands. The well flowed for 18 hours and reached a peak rate of 2,304 b/d. Perhaps more importantly, the group confirmed that "sustained rates in excess of 2,000 b/d" were achieved despite the test being undertaken with limited equipment.
This meant that there was waxing of the tubing and the viscosity of the oil increased as it cooled in the upper part of the test string. In addition, a subsequent announcement by Rockhopper revealed that two of the four perforating guns had failed to fire. Had it not been for these issues, the company estimates 14/10-2 could have flowed approximately 4,000 b/d.

...paves the way for much more drilling in 2011...

After plugging and abandoning 14/10-2, Rockhopper released the Ocean Guardian to Desire Petroleum, which will use it to drill three or four wells over the next few months. However, as Rockhopper seeks to better define the size of Sea Lion and to establish fully the field's commercial credentials, we expect it will be keen to make more use of the drilling rig. Indeed, its 2011 work programme is likely to include several appraisal wells, further exploration wells and the acquisition of additional 3D seismic data.

...and prompts us to raise our price target

The Sea Lion test results provide an encouraging indication of the productive potential of the field. Furthermore, Rockhopper has said that it believes significantly higher flow rates could be achieved from horizontal production wells in more optimal locations. Overall, then, we would contend that the undoubted risks associated with Sea Lion have diminished somewhat. This being the case, we are upgrading our price target for Rockhopper from 490p/share to 641p/share.

Pro whats the date on that?

1st week October ;)

RKH have almost a win..win..situation with DES's well....if Desire hit the jackpot....RKH will go up as well....if not ....should only present people with a buying situation....

Another benefit of building the port in the Falklands (as per news reports) is that there is no longer any need whatsoever for Argentinean influence.

The Argies last year put a blockade in place about using Argentinean ports if dealing with the Falklands - this little game will backfire badly if the Falklands build their own port now.

This point has not been lost on the Argies who appear to be rather scared of this new development...... :) LOL

Poor little Argies seem most upset by this new port news....... :) hahaha


http://translate.google.com/translate?hl=en&sl=es&u=http://www.clarin.com/politica/Malvinas-kelpers-construiran-industria-petrolera_0_350365083.html&ei=CyuwTK29AoqgvgORhvSDBQ&sa=X&oi=translate&ct=result&resnum=10&ved=0CEAQ7gEwCTgK&prev=/search%3Fq%3Drockhopper%252Bfalklands%26start%3D10%26hl%3Den%26lr%3D%26safe%3Doff%26sa%3DN%26tbs%3Dqdr:d%26prmd%3Divn

Malvinas: the kelpers build a port for oil industry

09/10/10 Seren la isla Soledad. 09.10.1910 will be in the Falkland. Abastecerla producci en el Atltico sur. Will supply production in the South Atlantic. ...............

The Sun

Argie Fishticuffs



AN Argentinian warship has confronted a Falklands trawler as tensions over the islands escalate.
The crew were accused of fishing illegally, despite being 3.5 miles INSIDE Falklands waters.

The two boats became locked in a menacing stand-off on Thursday - the first confrontation of its kind for FOUR years. The belligerent Argentinians demanded to know details of the Port Stanley vessel - the FV Venturer - and radioed its crew.

The warship stayed just on the edge of Argentinian waters and eventually the Venturer moved away to avoid a bigger clash.

Falklands officials last night said they were "concerned" about the hostile encounter which comes amid rows over the islands' fishing stocks and oil reserves.

John Barton, Falklands head of natural resources, said: "It's a concern, it's a nuisance and it's unsettling for the fishing vessel.

"We used to have a good relationship with the Argentinians on fishing conservation. This is the first incident I can remember for quite some time."

One member of the fishing crew said: "It just the Argentinians being the Argentinians - and harassing us." In 2006 Argentina arrested the John Cheek trawler and took it back to South America to pay a huge fine.

Just two weeks ago the country's president Cristina Kirchner slammed the UK over a huge oil exploration campaign under the Falklands' coastal waters.

Tests have shown there could be 700 million barrels of crude there worth around 3BILLION.

would be nice to be able to substitute "are" for "could"!

Throught Twitter.....well thats made my sunday what a giggle........


Argentina protests UK Falklands military exercise

Sat Oct 9, 2010 11:00pm GMT

BUENOS AIRES (Reuters) - Argentina protested to Britain on Saturday over a plan to carry out military tests in the Falkland Islands, stoking tensions that have increased over oil exploration in the disputed archipelago.
Deputy Foreign Minister Alberto D'Alotto said a letter of protest had been sent to the British ambassador in Buenos Aires over the exercises, which he said would involve firing missiles. He gave no further details.

"The Argentine government expresses its formal and energetic protest to this planned military exercise and demands the British government refrain from carrying it out," D'Alotto said, reading from the letter.

He said the plan, which Britain informed Argentina about last week, was "an unacceptable provocation."

President Cristina Fernandez condemned the plan via her Twitter account, saying it represented "a militarization of the South Atlantic."

Nearly 30 years after the two countries fought a war over control of the British-ruled islands, tensions have increased this year because Argentina is angry British firms are searching for oil and gas in the seas around them.

In 1982, Britain sent a naval force and thousands of troops to reclaim the islands after Argentine forces occupied them. About 650 Argentine and 255 British troops died in the 10-week conflict.

Britain has a permanent military presence on the islands, called Las Malvinas in Argentina, and maintains a force of 1,076 troops and four ships in the region.

(Reporting by Magdalena Morales and Helen Popper; editing by Todd Eastham)

Having been in the Dependency to watch them come ashore last time - and played an active part in sending them home again - I wish that the Argentines would learn that sabre rattling is a complete waste of time - and satisfies only a domestic audience.

To claim that a British military presence in the Falklands is 'militarization of the South Atlantic' is ludicrous. They were the last nation to establish a military base in the South Atlantic - on the British island of Southern Thule which is well outside the Antarctic Treaty area and quite rightly they were thrown out of there as well.
They continue to breach the Antarctic Treaty by having military bases in Antarctica - specifically forbidden.

.....rant over! Rock on RKH

http://en.mercopress.com/2010/10/08/falklands-private-sector-project-for-an-oil-industry-multi-million-port

Falklands private sector project for an oil industry multi-million port
An ambitious new multi-million pound port development specifically for the burgeoning oil industry in the Islands has been proposed for the western coast of East Falkland Islands.

Plans have already been lodged with the Environmental Planning Office for the site, on 175 acres of privately owned land at Port San Carlos, opposite Camerons Point.

The proposed berthing is more than four times the size of the floating dock (FIPASS) currently used in Stanley harbour.

The private sector initiative comes from Port Smyley Ltd, a new company being incorporated by Cantray Ltd, the owners of Smylies Farm.

The naturally sheltered inlet with a small wooden jetty was previously used for ferry runs to nearby West Falkland before government provided the purpose built terminal at New Haven.

But if the plans go ahead, it could soon be providing berths and facilities for eight offshore supply vessels as well as a cargo and bunker berth.

Plans indicate that suitable material will be pushed out along the coast line to form the foundation of the structure, which would incorporate drilling mud storage, warehousing, container and pipe storage, water treatment plant, power station and sewage treatment.

A presentation was made to Assembly Members and senior Government Officers last Tuesday evening by directors of Port Smyley Ltd and its technical advisors.

The outline planning permission applied for relates to the land and the related Crown seabed (everything below the high tide mark).

Cantray Company director Lewis Clifton said he recognised that FIG would wish to take a little time to consider the issue and said he could offer little further information at the moment.

Director of Mineral Resources Phyl Rendell welcomed the news of a possible new port: Its a very bold initiative led by local business people which is a real credit to them, she told the Penguin News.
Its exactly what the oil industry will need in the event they move to a production phase.
It benefits the Falklands to have local companies involved at an early stage in any development phase.

Assembly Member Sharon Halford also welcomed the news: I think that if this kind of development is going to happen, then Port San Carlos is the sort of place to have it, away from the main hub of the community.
Mrs Halford described the bid as a fantastic private sector initiative that could be a tremendous boost to the economy.
She added: Its a move that could create new opportunities in the rural community.

Rural Development Strategy Coordinator Nuala McKay said that to date no oil related activity had been considered within the strategy, but that it was indeed very exciting news.
Miss McKay said she looked forward to learning more about the initiative and the possibility of harnessing opportunities for the rural community.

With the exploration oil round still to be completed and no guarantee that oil will ever be extracted in commercial quantities, it is an ambitious move to provide support for what is hoped will be the Islands main industry.

The social and environmental impacts of the project on the area will of course have to be assessed, but it could be the start of repopulating the Camp in a way we never imagined possible.

By Sharon Jaffray Penguin News - Stanley

It looks like we are waiting for Rachel results before we get are upgrade....possible news this week

Looks like shorts are closing......

...... or is it perhaps those who are averse to risk are now top slicing DES (and so holding that back from spiking) as they put that money into RKH given RKH's continuing undervalued status and also the potential for the new CPR quite soon, along with the expected rights issue in 5 weeks time (which means the more RKH you hold the more rights to buy you get) ?

Pro surely it would make more sense to buy RKH at this price than to wait till rights issue.

They are waiting for results of Rachel and if she is a duster the price will fall then you bring the upgrades out on Sea lion the price rises and then you have the right issue which will be a lot higher than it is today.

I couldnt afford a right issue on either of the stocks at moment am up to my neck.

I have been top slicing DES today to buy more RKH.

Although saying that the DES rise has strong demand behind it, so lets hope its oil shows :) !!!

Excellent news for RKH (shows oil goes that far south) and good news for DES if they have a reservoir and a decent sized amount of oil in it.

Has RKH actually said that the fund raising will be a Rights Issue? You/we may want it to be so, but a pacing with institutions would be quicker & easier, with little likelihood of the private investors bailing out in protest. Buying solely on the presumption of a RI is a bit risky, imo.

Not when the share price is undervalued based on what they have anyway, you cannot go wrong really in the longer term.

A rights issue would be good now, followed by an institutional placing next year after the appraisal wells and at a higher price as they move to the main market.

So, no they haven't said it will be a RI?

The media report said a Rights Issue, commencing in about 6 weeks (that was 1 week ago).

Given how the ST was accurate in the past with DES and the Liz duster, there is no reason to doubt its not accurate again now.

You may be right, but I wonder why no other press agency has reported it.
("The Falkland Islands oil explorer is planning a $150-$200 million (95-125 million pound) rights issue to fund more wells in the waters off the South Atlantic islands, the Sunday Times reported". (Reuters - 04/10/10)