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.

Just noticed that Oriel have confirmed the suspicions, that the DES sidetrack is 1 of the remaining 3 wells.

Leaves them only Jacinta and Elaine once this sidetrack is finished.

For sure Jacinta is next but I wonder, will they let RKH have the rig and drill a Sea Lion appraisal starting in early Jan...... very possible.

For RKH it means they pay 7.5% of the Rachel sidetrack and then 7.5% of the Elaine well costs (as they have now completed the payment of 15% of two wells (Liz and Rachel-1)


Oriel note:

Desire announced this morning that the Rachel exploration well was unsuccessful and whilst the well encountered a thick sandstone, no hydrocarbons were encountered.

The well will now be side-tracked into deeper targets which is expected to take 20 days to complete. These targets look higher risk given the sands are likely to be worse quality and thinner in the deeper part of the basin. However these deeper sands should be better located relative to the source rock.
Desire is expected to be funded to complete a further 3 wells (including the sidetrack) which was expected to include Dawn/Jacinta and Elaine, which we estimate are worth 117p/sh on a risked basis. However all these prospects look high risk following the failure of Rachel and our recommendation is under review.

Whilst this result is also bad news for Rockhopper, which held a 7.5% interest in Rachel(which could have been worth 60p/sh), Rockhopper's current share price looks more than underpinned by our view of the value Sea Lion discovery. However Rockhopper 's shares are likely to remain subdued until the funding issue is resolved."

.

Might be appropriate in a few months time as people look back.



;)

Around about stage 11 now, so many people saying they have sold and/or shorted.

Nah, we're only at stage 5 at the moment!

Must be 11, everyone says they have sold and shorted........thats an 11.

It's 290p... where's Fibbonacci?

Must be 11, everyone says they have sold and shorted........thats an 11.

No. You're still holding. That makes it a 5!

It will be cheaper than 290p next week

hlyeo98

re - where's Fibbonacci?

You are being silly now, Fibonacci was exausted yesterday at 78.6% 322p as a last bounce from, today's DES bad news on the 7.5% stake being O so far for RKH is a completly new teritory to look for.

So the next figure to look for is a double bottom at 270p as the new price that could bounce from.

Fibbonacci?

I though he was one of the miners brought out ..

Auction....................

Someone buying 50K at 285p, when the offer was 280p has cause the order book to do an AUCTION job and bounce from earlier lows

Sue "hilary" could not do a better "B job"

The risk that has been added to RKH is if they drill between Rachel and Sealion and come up with nothing...an appraisal there will be high risk.....

The stake of RKH in Rachel has been known for months and months... wake up

279p and dropping......the word "stuffed"...springs to mind....difficult to understand this drop....

Not the stake....please......a well between the two....as if I did not know about the 7.5%....

Not u, rf... I meant mrsi.

euhh..sorry...

hlyeo98

re - 7.50%

That is what I am saying, but maybe you did not know, that is why I posted being the reason for the fall.

But as usual is a waste of time, end off

you me be "on the sauce" that the Judas sugested earlier, I do not touch that stuff on working hours and only on some special days.

readed again below


..........today's DES bad news on the 7.5% stake being O (cero/nothing) so far for RKH is a completly new teritory to look for.