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.

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 !....

am sure glad i took my own advice yesterday and cut my position back to a "normal" stake

Got a load more under 360p :) Thanks sellers ! :)

Well i am 9% up on what i bought first thing.

Less oil and no funds... not good at all.

Clasic denial symptoms P

As you lot like making losses : wait for the next well...boy !...we shall have a party !...