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.

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 !...

The question now is...... was this an opportune time to release that aka does it mean expectations are good for Rachel ?

Overdone drop and then good news from Rachel pushes everything back up and makes sure the shorts cannot settle into their positions.

They had to inform the market of that Ops Update as part of the process of ensuring everyone is aware of the latest plans prior to raising money/rights issue.

As a selfish long term holder of RKH stock I am happy to see the price down, firstly I have purchased more, secondly I get more rights now, the rights price might now be cheaper and, in the long term scheme of things, by H2 2011 you will have a new CPR and Sea Lion appraised and new exploration drilling done.

Being selfish as a fully paid for stock buyer, todays drop will make me even more money in the longer term :)

that's a bit harsh and certainly unwarranted ..... however, it does highlight how easy it is to get sandbagged and the importance of taking money off the table from time to time to protect profit

as for RKH today, i suspect there are still a lot of (forced) sales to materialise, and certainly i shan't be piling in
DES is looking much riskier now, so certainly any holders should be prepared for another disappointment and a hit on their bank balance - very happy to be proved wrong

Fall is overdone imo.

It will be four years before any oil comes to surface, for production.