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.

yuff

why do you see religion on my post?

Do I see religion on you "nickname"?

UPDATE: Rockhopper's Consultants Query Sea Lion Potential

By Jason Douglas Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--Oil and gas explorer Rockhopper Exploration PLC (RKH.LN) Wednesday said it intends to carry out more work at its Sea Lion discovery before publishing new resource estimates, after a preliminary analysis suggested the field may contain about 30% less oil than thought.

Rockhopper struck oil at the Sea Lion prospect in the waters off the coast of the Falkland Islands in May last year and in June estimated about 242 million barrels of oil could be recovered from the field.

It said Wednesday a technical report scheduled to be published by the end of the year won't now be published until the second half of 2011 because its consultants told it that if the report was produced today the resource estimate would be about 30% lower than 242 million barrels.

"This would not reflect the board's view of the prospectivity of Sea Lion, not least in the light of the preliminary nature of the analysis undertaken to date," Rockhopper said. It added it is confident oil can be recovered commercially from Sea Lion.

At 0842 GMT, shares in the company were down 77 pence,or 17% at 383 pence, underperforming a 0.1% lower Alternative Investment Market and valuing the explorer at roughly GBP670 million. The company's shares have risen more than fivefold since the Sea Lion discovery.

Analyst Richard Rose at Oriel Securities said if these revised estimates prove accurate that would reduce resources at Sea Lion to about 170 million barrels.

He said his view is the discovery is commercial and investors should view any share price weakness as a buying opportunity.

Rockhopper said it intends to carry out more drilling and surveying at Sea Lion to get a better picture of how much oil the field contains.

The company said it is considering selling shares as a way to raise money for the next stage of exploration at the North Falklands basin.

It said it reached preliminary agreement with a contractor to carry out seismic surveys in the basin, beginning in January. The surveys will allow Rockhopper to scrutinize geological formations called sandstone fans at Sea Lion and examine other promising targets, the company said.

It added it also received a new proposal from a drilling contractor that would enable it to drill up to eight wells in the next stage of its campaign.

A formal contract hasn't been agreed but a deal would require Rockhopper to place money sufficient to cover the cost of drilling in an escrow account, it said.

A large fundraising is therefore likely in the near term, Rose said. Rockhopper didn't say how much it will need but Rose said $150 million to $200 million would be consistent with its requirements.

sure as hell don't see an apology either

How a small price fall brings out the scum.......... LOL :)


Try reading this, MAYBE, MAYBE...... and MAYBE NOT......



............... For guidance, the technical consultants have informed the Company and its advisers that were a report to be produced today both the P50 oil in place and 2C contingent resource numbers might reduce by a factor in the region of 30%. However, this would not reflect the Board's view of the prospectivity of Sea Lion, not least in the light of the preliminary nature of the analysis undertaken to date.

The Board is very confident about the commerciality of the Sea Lion discovery
and the prospectivity of the North Falkland basin. In addition the Board is
comfortable with the existing range of contingent resources as contained in the
preliminary volumetric update published in June 2010. Following an intensive
drilling campaign it is anticipated that an updated CPR will be issued in the
second half of 2011. .............

So RPS want more data before they are willing to hold upgraded figures, MAYBE. Thats fine, that is their job, to be independent and demand more information.

The board meanwhile are very happy with the upgraded figures of June 2010.


Now, let me guess, some idiot is going to say they have to do appraisal wells.......... yes, nobody knew that did they...... ;) LOL

                               COFFEE TIME FUN

Rockhopper board should issue free disposable underpants .....

Some shareholders have made a mess in them first thing this morning ......

                               

Bang goes pp's 20/share for the moment.,.

At a guess...the sp might stabilise around the 400p mark with a slight recovery to 420p before that...might take a few days....

And if DES strike oil at Rachel (news could be anytime from Monday next week), all those who sold today will have just thrown it all away.........

The devil in me actually asks was today's news a simple tool to get people to throw stock out so the big boys can buy more ahead of big news next week................ LOL........ but of course, one should not ask something like that ;)

Fox Davies Update :


The potential 30% reduction in P50 estimates has obviously unnerved the market and, although the reduction would be more a reflection of the lack of sufficient data rather than a physical downgrade, an updated CPR will not be available before mid 2011, a 6 month delay to previous expectation of end 2010. On a more positive note the Company has identified additional exploration targets which provide prospective upside. The Company is planning to carry out additional 3D seismic acquisition as well as drill 3 firm wells, with 5 possible options, which would require funding of some US$150m.

Recommendation

The 6-month delay is likely to weigh on the stock in the short-term. However we still believe that on a 12-month view there is upside potential to the level of our previous 5.0 price target and therefore we remain Buyers with an unchanged price target

AND if a duster......means the fan isn't as big as some hope and reserves revised again.

re - cynic - 13 Oct 2010 08:14 - 3119 of 3165
am sure glad i took my own advice yesterday and cut my position back to a "normal" stake

A LIAR about, expose them till get sorted YES .......... cynic

Everytime (he) buys or sells, tells as soon as posible, but yesterday forgot about it, but yes, first thing this morning after the sharp fall........ yes I sold yesterday, I will say you were the fist one to SH!T yourself this morning ............ were are the disposables for ... "cynic" it smells by now


re - cynic - 13 Oct 2010 08:14 - 3119 of 3165
am sure glad i took my own advice yesterday and cut my position back to a "normal" stake

Exactly, Bb, in which case those that sold will be glad they did.
Plus "The 6-month delay is likely to weigh on the stock in the short-term." Enough said.

we have heard you the first time mrsi....getting bored now!!

Rockhopper Exploration (LON:RKH) (BUY, 5.00) (RKH, 460p, ▲ (0.11%)) announced a possible continuation of the drilling campaign under a new rig contract consisting of a possible three firm wells and five options extension with Diamond Offshore Drilling. Furthermore, the Company has entered into two letters of intent with a seismic contractor to acquire additional 3D seismic using two separate vessels. The Company intends to enter into contracts to procure both vessels shortly and, if it does so, it expects that work will begin before the end of January 2011 to allow Rockhopper to better analyse the Sea Lion sandstone fans, as well as allowing more detailed and accurate mapping of additional exploration upside within the basin. The Company indicate that a revised CPR would not be available before seismic acquisition and further studies are undertaken to resolve the complex issue of reservoir distribution within the Sea Lion sequence and narrow the current range of estimates for oil initially in place by reducing uncertainty. Whilst the Sea Lion discovery has enhanced prospects for the Company and its shareholders, further significant exploration activity will need to be undertaken given the frontier nature of the basin, to prove up the full potential of that basin. The Company is therefore currently evaluating its funding options, which may include an equity issue.

Comment: The delay in narrowing the resources estimates, whilst understandable, is likely to unnerve the market. However we would see it as short-term jitter and see no reason to change our forecasts.

.

.

Balerboy

new version, ...... cynic - did not he reckons so I had to repeated

one old post just OK,

3 is 2 too many- marky -