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.

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)

Oct 3 (Reuters) - Falkland Islands oil explorer Rockhopper Exploration is planning a $150-$200 million rights issue to fund more wells in the waters off the South Atlantic islands, the Sunday Times reported.

Citing unnamed sources, the newspaper said the company was close to hiring Bank of America Merrill Lynch as corporate broker to help lead its next phase of development.

A rights issue could be launched within six weeks, it said.

Rockhopper declined to comment.

cynic is it time for a short with a tight stop?

i think this is too dangerous to short ..... a stop is only good if guaranteed, and in any case it'll be expensive and quite probably only applicable say 10% below the price you paid - which ain't that tight

on the other hand, i was happy to enlarge my short on FOGL today

In summary from todays update :

1/ New targets have been identified = Plus point.

2/ Ocean Guardian should be extended for 2 appraisals in Q1 2011 and more explo in H1 2011 = Plus point as its going to happen sooner rather than later.

3/ Seismic should be happening soon, all moving forward = Plus point.

4/ New CPR to come out in 2011 H2, however as of now compared to the last update, RPS would downgrade size by 30% pending more data being obtained by seismic and drilling work - see item 2 and 3, some fans as yet have not been drilled into so cannot be added, etc.. etc.. = Negative point expectation only, but note that it seems many of the stacked fans as yet have not been drilled = significant upside)

5/ Board are happy with the pre 30% down figures, they are confident in their estimates = Plus point (board say ignore 4).

6/ Fund raising = Neutral, everyone knows that, talk of Rights Issue in media 10 days ago.

Well am paused to buy in.

Down 25%. Plus point Mr P????

heeeeee am a happy chap

Halifax

Did you short this , or did you take Cynic's advice ?

Bad news....30% less oil...ouch !....