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.

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Ok its New Year prediction time and as I am in a good mood, so I think that Dawn will be gas. Finding gas and that small a size is of no use to DES, in fact its probably better news for RKH as they have the biggest (and so far not carrying any value at all) licenses in the south of the North with their 2 licenses and confirming that the gas prone source rock is active may offer hope down there. After Ernest being dry some gas at Dawn would be a nice booster for RKH, but a downer for DES as they need to find oil in order to get funding done at a good price next year.

Anyone else like to make their prediction and then wait for Tuesday 7am for news ?

I base the gas theory on the fact the share price suddenly rose but the momentum stopped, indicative of initial gas signs while drilling, if the share price rise kept going then it might has suggest oil, but it faded out. Also, they are now drilling the same level as the gas at Liz, so one would assume they will get the same result from the same source rock. See below :



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So that is the guess now the markets are shut, dire news for DES who need oil but may have gas (perhaps a bit of wet gas) but thats no use. Boosting news for RKH who have no value attributed to the 2 southern licenses they hold following Ernest failure but that may need to be looked at if Dawn confirms that the source rock of that level is producing gas. A gas inflating boost for RKH but a flatulent deflater for DES.

I really do see Dawn as a "no lose" for RKH.

If its dry = so what, RKH has nothing in the share price for its 2 southern NFB licenses following Ernest failure earlier in 2010.

If its gas = good, the source rock is active and it offers hope for the 2 southern NFB licenses.

If its oil = good, the source rock is active and it offers hope for the 2 southern NFB licenses.

Worth a read :

http://www.ibtimes.com/articles/96738/20110102/oil-natural-gas-crude-futures-2011-outlook.htm

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as if we needed to know.....

Pro......a good read,hence this is my Banker and share of 2011.

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let's hope that (like EO!!) RKH goes from strength to strength

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I have found this on ThisisMoney.
If you click the link then go to third line of books down 'Don't Write Off The Falklands Just Yet Report'
This is a big push for Rockhopper.
http://www.reports.dianomioffers.co.uk/partner/thisismoney/Desire,_Rockhopper_&_Centamin_Egypt.dml?partner=21&offer=141980

All they require are a few details then you can download a very comprehensive 16 page report.

Greekman

link message .... Sorry, this isn't currently available.

I also have Centamin , can you post a summary on the Centamin thread ?

Hi Aldwickk,

Yes that is what I got. Ignore that message and go to the third line down (of books) then its the second book in. Just click on that book.
Well worth a read.

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Have sold 30% of my holding in Rockhopper (in a SIPP) and bought some President Petroleum (PPC) with the proceeds. That's despite a less than helpful recent RNS by PPC.

http://www.oilbarrel.com/nc/news/display_news/article/shares-in-desire-petroleum-tumble-again-as-another-falkland-islands-well-comes-in-dry/860.html

January 06, 2011

Shares In Desire Petroleum Tumble Again As Another Falkland Islands Well Comes In Dry


Sometimes it pays to be careful what you wish for. A little over a year ago, backers of AIM-quoted Desire Petroleum were anxious for the explorer to apply the drillbit to its package of licences in the North Falklands Basin. Now, however, with the share price having crashed to 35 pence after a series of disappointing well results, shareholders must be wishing they could wind back the clock to January 2010 when the share price was north of 118 pence and the ink was still fresh on the rig contract.
Desire spudded its first well in February 2010 as part of a multi-well, rig-sharing campaign among the operators in the Falklands Island. That first well, Liz, made a gas and gas-condensate discovery, the commerciality of which is questionable. The follow-up Rachel and Rachel North wells were disappointing and now the latest well, targeting the Dawn and Jacinta prospects, is a bust. The 25/5-1 well was drilled to a total depth of 1,697 metres, with no hydrocarbons in the Jacinta prospect and only gas shows in the deeper Dawn prospect.

The rig now returns to Rockhopper Exploration, the AIM-quoted company which has had breakout success with its Sea Lion discovery. Rockhopper plans to drill one or two wells. The rig will then return to Desire for a further well, the location of which has yet to be finalized.

The latest Desire result has certainly dealt a further blow to hopes of an oil bonanza in this remote area. In addition to Desires dusters, the BHP Billiton/Falkland Oil & Gas joint venture drilled a dry hole on the Toroa prospect while Rockhoppers Ernest prospect also came in dry. But it is still too early to write off the Falkland Islands as a new oil province: the waters to the south and east (held by BHP, FOGL and Borders & Southern) have barely been touched by the drillbit and the North Falkland Basin has yielded one promising find in Sea Lion.

The Rockhopper discovery was spudded in April 2010 and declared an oil discovery a month later. It was successfully flow tested in September, the first oil to flow to surface in the basin, peaking at more than 2,300 barrels per day from just two of the four zones. The AIM-quoted company raised US$325 million in November to accelerate further exploration and appraisal drilling in the basin and initiate engineering studies to produce a field development plan. Desires Falkland Island dream may be looking rather tattered following an injection of drillbit reality although with new 3D seismic being acquired and another well to drill that could still change - but Rockhopper still has plenty to play for.

Good steady Buying today and waiting for the whoosh factor to step in as drilling begins....

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