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.

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.

Anybody shorting here....?....wish I kept my DES short...

7.5% stake in Rachel was known much earlier this morning when sp was 325-330p... now 285-290p

It was known since RKH took it.

It was known also this morning that the 7.5% will not aport anything to RKH, and that is what I am trying to say to you all the time,
and that is why the share price is moving yet lower than the Fibonacci 78.6% yesterday...end OFF

Incredible drop....500p plus not long ago.....staggering....fall.....

Stronger statistics on the order book

450K v 338k

no wonder is moving slowly higher now

How many dcbs can you have in a week? ;-0

It looks like the 280p will be the low for the day

Is well supported by the order book and small buys at the moment
spread 291.25 / 292p
Monday is another day

It's been an enjoyable week. Have a good weekend.

No it hasn't..

Mixed over here,

..the very good, the bad and the damn ugly

although she hasn't returned home yet..

:-0

Looking forward to see what the weekend papers have to say

Info says placing by Merrill at 2.75, completed next week.

Seems about the right price given the sharp move down to 280p as those "close to inside" have taken money out to put back in again.

Its about the right sum of cash too, 93m pounds (so circa 34m shares x 2.75)

I would be disappointed (in my selfish way) there has been no rights issue, but so be it.

Nothing has changed, Sea Lion is still as big as it is, just because one person will not sign off a provisional upgrade until he gets more info takes nothing away from what it is.

And given Rachel's lack of oil, it does seriously look like the oil migration path has left it all over the North East, which is all over the 2 RKH licenses.


FWIW, I think they have the kitchen in the wrong place and the oil migration wrong (DES that is). The kitchen could likely be much closer to RKH licenses than DES thought, and also the migration path is not west and south across the DES licenses. Now, based on that and they are drilling east with the sidetrack they might get some oil with it, more chance than with the Rachel vertical.

The failure of Rachel to have any oil at all, even traces, makes things much more exciting for RKH.

Those II's who are going to be getting shares at 275p in the placing are very lucky indeed and I am sure in a few weeks time they will be shouting it from the rooftops just how good it is.

Cannot complain, my bulk purchase was at 38p so I am in well before them, just perhaps I could have better timed the top ups, but hey, hindsight is a wonderful thing.

Let me tell you, not so many days ago if I had purchased in the Euro lottery Lucky stars 6 and 8 and main numbers 9,30,35,46................... etc.......

About an 18% dilution, the upside is that there will be a signed off Final CPR based on the new seismic and the new drilling before the next fund raise in Q4 2011. At that point it should be well in excess of 500 million recoverable barrels and RKH should be in excess of 2000p.

Investing with patience - they key to big gains. I am happy in a way in that so many people have now revealed themselves to be nothing more than traders or complete morons by their actions on various BB's, names noted for future ignoring :) Always takes a good consolidation to let the nutters and liars revel themselves.


cool runnings - 15 Oct'10 - 20:07 -

Merrill doing a placing of $150m at 275p a share! Share to rally so hard next week!

Going back to this below and taking into account a 93m pounds placing at 2.75 and call it 20% dilution (even though its lower).

New valuation would be :


On the basis of 170m barrels value Rockhopper at 501p

That would consist of 444p for diluted Sealion plus 57p of cash


If Sea Lion ends up after appraisal and 3D work at 242m barrels recoverable it would be 632p for Sea Lion alone.

If Sea Lion ends up after appraisal and 3D work at 500m barrels recoverable it would be 1305p for Sea Lion alone.

And those figures still have nothing in for exploration upside (all those new attractive targets), nothing in for Rachel sidetrack, nothing in for Elaine etc. etc. etc.

Given how it now looks like the 2 RKH license in the north east are very prospective and it seems where this is where lots of oil is, having nothing on for exploration upside might seem unfair, but hey, best be conservative and leave something in the bag for later.

The only question mark is the 3rd firm well for me, 2 of the 3 firm 2011 drills (from the 3 firm and 5 options deal) will be Sea Lion appraisals.

The third, will it be another Sea Lion appraisal (in the southerly section if 3D is good) or will they go exploring and pop one in Jason or one of their new targets we are yet to hear about. Chitter chatter says they now have "5 highly attractive exploration plays in those 2 north east licenses around Sea Lion". So will it be 3 firm Sea Lion appraisals with the 5 options being exploration after Sea Lion is fully appraised ? Or will one of the 3 firm drills be exploration. Thats the question for me.

If the 3D seismic looks good on the southerly extension of Sea Lion, and 700m recoverable barrels is at play, a third appraisal in Sea Lion is far more needed than exploring those other 5 prospects for now, better lower risk than higher risk, best to prove Sea Lion beyond any doubt as being "world class" and then move on from there.


PS. If I get any figures wrong its through lack of caffeine this morning.


++++++++++++++++++++++++++++++++++++


From earlier this week.


Context for the Rockhopper beatdown today:

Disclaimer: This document is general market commentary and does not constitute a research report. This document is prepared by Canaccord Genuitys Institutional Sales for informational purposes only.


I saw Sam Moody CEO of Rockhopper this morning - I think today's move is a great BUYING opportunity.


The Chronological Order of Events

Pre drilling the CPR estimate by RPS was 170m barrels (P50)
The P90 - P10 range is 57m barrels to 670m barrels!
Post drilling all agreed there was more oil than expected so RPS upgrades estimate to 242m barrels
The stock rallies to 500p plus
We upgrade our target price to 641p - our valuation of Sealion (622p) & cash (19p)
Work continues on identifying the first appraisal well using Geo-physical data - designed to be pessimistic to eliminate 9 of the 10 potential sites for this well.
A potential capital raise required a confirmation of the CPR
The only 'new' data was the Geo-physical report - so this was made available to the CP
This is interpreted by the CPR as 'negative' and the estimate reduced to 170m barrels
As the company had that information it has to be released to the market
So today the stock is back 20% to 380p!



What has changed?

Only the CPR estimate!
There is NO new seismic data
There is NO new test data
Nothing has changed with the flow data.
The CPR is estimating the size of a 50km square oil field from the results from one well - this is clearly a near impossible task and has to be approached conservatively.
What happens now?

The results of the Rachel well (7.5% RKH) are due at the end of October.
A seismic testing ship will arrive this December - to be joined by a second ship in early 2011.
Seismic testing will take 3 months with a further 2-3 months of interpretation.
The rig for the appraisal well will arrive at the earliest at the end of January 2011.
Drilling could commence in February 2011
Valuation

On the basis of 170m barrels we value Rockhopper at 545p
This consists of 526p for Sealion Plus 19p of cash
This give 40%+ upside from 380p!
This assumes nothing from Rachel
This assumes no more positive data from the 3+ appraisal wells on Sealion
This assumes nothing from the 5 other prospects RKH has in the region.
Today there has been some disappointing news for Rockhopper - the price is now reflecting ONLY disappointing news - the weight of probabilities is tipping in our favour!

Had a quick look at Encore (EO.) - by the looks of the valuation there (350m market cap for 20m barrels recoverable for their share) RKH should be now about a 3 billion pound market cap.



..........Been looking at this.

EO. have 15% of Catcher and 16.6% of Cladhan.

Looking at what other companies are willing to say it appears you could, if you so wished allocate at the moment perhaps 20m recoverable barrels to EO. for their share for Catcher/Cladhan.

With a 350m market cap and only presently, at most, you could say 20m barrels recoverable for their share, is it not rather toppy ?

Yes appraisals might push that recoverable figure up, but for now 350m market cap for 20 million barrels ?...............

So then; let's see if this prediction posted by (not written by) Mr P comes to fruition, in particular the last part!

Merrill doing a placing of $150m at 275p a share! Share to rally so hard next week!

cynic, I did not write that line, its from "cool_runner" whoever that is.