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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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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Rockhopper started with hold rating at Jefferies, target price 435p
StockMarketWire.com

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Already been there, done that!! Stupid boy.,.

He cant hear you Balerboy....but grannyboy can!!!!! FOGL a buy......funny as hell with that target price,must of been plucked from fresh air.

http://www.bgs update

My question answered by rns this am. lol Roll on 20th of Feb.

what a prat pro is starting new threads

He's on his own , so don't worry. This one at least offers continuity and is on both IR & TR boards.

this is the place to be, where else can i abuse cynic.,. keep info coming marky.

StockMarketWire.com
North Falkland Basin oil and gas explorer Rockhopper Exploration plc said the 14/10-3 exploration well was spudded yesterday (Jan 13).

The 14/10-3 well is located 8km north-west of the company's Sea Lion 14/10-2 discovery well on Licence PL032.

Total depth is planned at about 3,000m. Drilling is expected to take around 38 days and a further announcement will be made once it is completed.

Rockhopper then plans to drill 14/10-4, an appraisal well on the southern lobe of the Sea Lion fan system within the discovery area, before the rig is released.

I wonder if this will now drift back to c300p as it did before?

Well this is what I have been waiting for as fully loaded and we have 2 drills back to back the first is an exploration well which is a new target with a 4 in 1 chance of success and the next one is an appraisal well on Sea Lion.

The new well is located to the North of the discovery well and will test the northern lobe of the Sea Lion fan complex which looks, from seismic mapping, to be fed from a different sediments source. We understand the seismic attributes are similar to that at the discovery well location, hence limiting the risk although the 8km distance is a large outstep from that data point and reservoir/seal risk is far from negligible.



Both these wells could see the share price rocket I would like to think the bottom line here is 3 as they are all ready sitting on a minimum of 160 mill barrels. Lets hope they have more luck than Desire.

J P Morgan broker note:
"Rockhopper has spudded the next well on its PL032 licence in the North Falkland Basin, with the 14/10-3 well located 8 kilometres west of the Sea Lion discovery. The well, located outside the Sea Lion Discovery Area, will appraise the northern lobe of the Sea Lion structure, hence it should not be considered quite as high risk as a pure exploration well Id imagine the chance of success is around 1 in 2 to 1 in 3. Difficult to say what a successful well would do to reserves estimates on the overall Sea Lion structure although with a current P10 case of over 600 million barrels of oil against a P50 case of around 170 million barrels there is clearly enormous upside.
The well should take around 5 weeks to drill and will be followed by 14/10-4, designed to test the southerly extension of the field. Interestingly, if the southerly extension is successful, the structure could extend about 1 kilometre into Desire Petroleums acreage in the adjacent licence. Following the two wells, the Ocean Guardian rig will probably revert to Desire for its final well. Thereafter RKH has signed up the rig for three firm wells and five contingent, designed to appraise Sea Lion and test further exploration prospects, so it will be a busy year for the group. Our current NAV on RKH is 494p/share, although this could be deemed conservative as it assumes only the base case reserves estimate of 170 million barrels and a long-term oil price of $70/barrel. On the basis of a successful P10 case, this valuation would likely more han treble. RKH remains the best way to play the Falklands exploration province.

Although not currently invested in RKH, I will continue to use this thread in the unlikely event I have anything to offer (apart from abusing BB).

I'll leave that prick pros to talk to himself, which he will have no trouble doing with his alternative aliases!

Thanks pt makes me feel wanted:(( lol