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.

Pro thats rubbish as we would have an RNS stating that.

Desire is a buy they are still drilling at present.

The earliest we might get news is this Friday if they are scared it may leak out like it did last time if not news will be Monday or Tuesday. They will shut down communication from the rig when near and as long as I am aware communication is still up and running.

Rachel is right next to Sea Lion,15 km if you are going to find oil its going to be with Rachel and in the fans, the same as Sea Lion.

Its a gamble but a dam good one its not like Ernest the odds are stacked in favour of this been a success.

35 days is drilling through down all the way, running casing and liner, doing logging etc.. and then P&A the well.

Presently DES are about day 17, thats easily long enough to go through 2 of the fans, now if they both are dry or water then there would be no point wasting time and money to go down to original TD. They could stop there and do the sidetrack that was in the original plans as a possible thing to do.

The volume of selling is telling you something is wrong at the moment with the drill....................

marky, well, we shall see.

I have derisked totally out of DES now and will simply buy more RKH on dips for the moment.

DES is now sufficiently low and falling that you can afford to watch from the sidelines and still get on board after any good RNS but avoid all the risk now of the potential for a 2nd failure.

Proselenes,

There's probably oil somewhere under my back garden, but that doesn't mean that it's commercially viable to extract it.

The same situation applies here. Given the hostile operating environment and the equally hostile neighbours, I'm quite happy to bet that you'll never see a Falklands field go into production.

Rubbish hilary...sorry...but that's nonsense....

hilary, and I will happily take that bet.

The operating environ is not hostile, no different to the North Sea and the neighbors are all mouth and no trousers.

You have already been told, in no uncertain terms, that Sea Lion is deemed commercially viable.

End of story.

Pros - not good logic actually ...... as far as i can see, the selling is primarily from PIs who are either reducing their exposure intentionally (like me) or being forced out due to margins

Is it 15km or 15 miles apart..from Sealion....15km....11miles....you could see the other position if you were there..or the marker buoy....if that's what they use....very unlucky not to encounter hydrocarbons of some sort..I would think....

Actually its about 9.32 miles :-)

cynic, my continued RKH buying is based on the selling price come Xmas 2011, say 14 months from now.

During that time there will be at least 3, if not 5 or more wells drilled by RKH, Sea Lion will be appraised, new seismic and all sorts.

This is an investment, not a trade for me. They have oil, they likely have a giant of a find and I intend to benefit from it greatly.

You have already been told, in no uncertain terms, that Sea Lion is deemed commercially viable.

By whom exactly? A liar stood over a hole in the sea?

Looks like another one for the squelch function, why do these people turn up when the price is going down but are silent on the rise from 35p upwards..........

LOL :)

hilary is actually verging on correct, and indeed i was so corrected by halifax ..... as it stands, nothing is proven at all, but merely best guestimates, though that is indeed a very long way from someone telling deliberate porkies

Rockhopper is now considering raising more cash on the stock markets to fund further tests and exploration in the Sea Lion well only four months after raising 48.5m from its investors in June.

Rockhopper's independent technical consultants said the reserves could be almost a third less than estimated, after looking at the currently available data.

However, the company yesterday insisted that the discovery is still commercially viable, despite postponing publication of the consultants' report until more data has been gathered.

The shares tumbled share price dropped 97, or 21pc, to 363p, as investors fretted about a delay in obtaining new data until the second half of next year.

The frontier explorer is still hoping to prove that its reservoir holds 242m barrels of oil rather than the downgraded estimate of 170m barrels.

"The board is very confident about the commerciality of the Sea Lion discovery and the prospectivity of the North Falkland basin," the company said in a statement yesterday.

"In addition, the board is comfortable with the existing range of contingent resources as contained in the preliminary volumetric update published in June 2010."

The City has had high hopes for the company and its shares rose from 37p to a peak of 549p after it originally found recoverable oil in the Sea Lion block.

Analysts suggested the sell-off was overdone, noting the company's confidence that oil would still be produced from the field.

"The shares are likely to come under pressure but we would see excessive falls as buying opportunities," said David Farrell, an oil and gas analyst at Evolution Securities, the stockbroker.

The company is now planning additional drilling and said that "highly attractive new targets have been determined".

However, it is still a way off turning its finds into commercial wells.

This summer, Rockhopper awarded almost 1m in early bonuses to four executives before some key tests on the flow had been completed.

This was Rockhopper's third bonus pay-out to its directors in the last 16 months, after its annual report revealed there had been an "accelerated" incentive plan.

The oil explorer decided to give four directors an average of 225,000 each from their 2011 allowance on July 12 - three months after discovering oil at the Sea Lion well and four weeks before it found that the nearby Ernest well is dry.

Bonuses at the explorer, which made a 5m loss, have totalled 2m since March 2009.

The speeded up payments relating to 2009 and 2010 were a one-off move to "more accurately reflect the year being reported", according to the company.

Oil exploration in the islands off the coast of South America has sparked protests from Argentina, which claims the British territory.

almost lost in hyleo's post ......

Analysts suggested the sell-off was overdone, noting the company's confidence that oil would still be produced from the field.
"The shares are likely to come under pressure but we would see excessive falls as buying opportunities," said David Farrell, an oil and gas analyst at Evolution Securities, the stockbroker.

why do these people turn up when the price is going down

Errrr. Isn't it obvious why I'm here, or do I need to spell it out? Basically it's because I'm shorting them.

Me too. Join the gang!

Time to close it ...I would think....

Sorry, I'm not a part of any gang.

Time to buy as there is support this afternoon and the share are bouncing from a 78.6% Fibonacci retracement