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.

cynic the six month delay in proving up reserves(or otherwise) gives the directors enough time to arrange their next career moves, rather like that we have seen with HAWK!

and i thought i was the cynic around here!

Just been reading through some DES rns's....they are planning 4 wells back to back.....it will be a long time before RKH get their hands on the rig again....after Rachel....they will move to Jacinta.... and from what I have been reading will target close to a possible one billion barrels....there are two targets in this southern basin....it really is a buy and hold....it is up to the punter to decide..to be in or not and at what price....to me the sp is now reasonable.
RKH could climb as well in the event of a strike....but after this....there is a long wait.....so which one is the best to be in ?....or both.....?
I'm convinced that in the event of a duster (mighty unlucky....10 miles away from sealion )....the sp will drop only to recover before the next spud....but if it does turn out to be a dry well...RKH will drop but might not recover like DES will before next spud as Rockhopper are not down there and came up dry with Ernest.

This afternoon strong support at 340p, could signal that the share price is around the right price Institutions are prepared to put money on the new raising of capital.

I did say a couple days ago that the Institutions wanted more info about the find before agreeing new funds, and that was the reason for the last RNS.

assuredly not without logic, but given that a result from Rachel is due within 2/3 weeks, or even sooner, i am sure the institutions, and possibly RKH too, will want to wait until then

it'll be interesting to see what these look like in the market tomorrow, especially the balance of the order books

Nice to see the bounce back also started at 78.6% Fibonacci in early june

http://www.thesun.co.uk/sol/homepage/news/money/3180808/CAMRA-fury-as-chance-to-save-pubs-lost.html

Thats the feeling I got yesterday and why I sold what I had left of DES , that the well has failed so far to find something big and they are now on to a sidetrack.

That will now be well 2 of 4 (the sidetrack will count as the 2nd of the back to back 4 drills IMO).

Will be Jacinta after this sidetrack and then perhaps they will pass the rig back to RKH to appraise Sea Lion and save their 4th rig slot until after that. We could therefore see Sea Lion appraisal starting in late Dec 2010/early Jan 2011 and not the presently expected Feb 2011.

I hope they find some oil but it just seems DES are DEStined to be the unlucky ones, just like Shell were before. There has been a hell of a lot of failed North Sea drills and there will be a lot of failed drills in this area as well before they all get a better handle on what, how and why it holds what it holds, and more importantly, where.

So cynic, I think DES will be the centre of attention of shorters. If this "sidetrack" as I mentioned earlier and now the Sun has picked up fails they really are left with just a shit or bust Jactina drill and then one last drill to finally try to find some oil. The flipside is that many II's will have commenced selling already and many more will too, which may make the RKH fund raising easier as there is a lot of cash looking for a new home.

I am just glad I sold a lot earlier in the week in the 160's and dumped the final lot yesterday as I said.

I am sticking with RKH and going to be buying more there - my appetite for those without oil finds is wearing thin now - BOR/FOGL/DES/ARG - no thanks on them 4.

It could well be that the RKH license in the upper North East is saturated and the rest is going to be more like needle in haystack stuff.

one way ticket here this morning, along with DES ..... thank goodness i sold most of my holdings yesterday

35 days drilling and after 15 days.....Poselenes says the well is a failure.

And RF......... ??


Well happy today, I managed to pick up a bundle of RKH at open at 312p levels !! :)

Thats my RKH top up for today done.

So much for support at 340. Back to 35p for this piece of jam-tomorrow trash.

:o)

And Fibbonacci fails again...

except for Pros who has the happy knack of buying at the very bottom of the dip

cynic, its because I believe. Therefore when others are selling I am buying. I do not wait, I know its cheap and have no hesitation to dive in when others in panic and fear sell.

i certainly find it interesting that 320 pretty much proved the support i mentioned yesterday ..... whether or not that will prove solid remains to be seen

When I go back to the work of a lot of researches prior to any drilling they did expect the possibility of one "Giant" find with then some smaller ones around it.

Its looking at the moment more like Sea Lion is the Giant, there will be some more around it (more likely North and East) but the rest of the basin might be needle in haystack stuff.

Could it be that only the North East is charged with oil ? If that is the case (and lets wait and see what these "new" prospects are that RKH talked about, it could just be the dream ticket for them and they got the "biggie" in terms of the best license area.

I would love them to sink a well into Jason in 2011 !



Questions come flying in.

1/ Has there been an effective seal such that Sea Lion is the end of the migration path ? EG to the west and to the south there is only needle in haystock stuff, but to the north and to the east of Sea Lion there is oil aplenty.

2/ What are the new prospects that RKH has now identified ? Where are they located and how big are they ?

3/ Are there any licenses to the east and to the north of the 2 north easterly RKH licenses that are coming up for grabs in the new licensing round later this year ?

4/ If there has been no oil migration west or south from Sea Lion, will it mean that DES and ARG will just be looking for small patches ?


Most interesting, the key data we need now are the new prospects that RKH have identified, so we can see where and how big they are and then work out the implications of those assessments.

i certainly find it interesting that 320 pretty much proved the support i mentioned yesterday ..... whether or not that will prove solid remains to be seen

Or when your in a hole keep digging

And look out for those falling knife's