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.

@splat ... ? Didn't get that low.

@HC "Was hoping for sub 350p, but now looks unlikely." "...today" (ie the 24th Jan)

Not looking unlikely today though HC

A bit selfish of me, but need a cheap entry level, so am now tempted to put a limit buy on the system at.........345ish? Still at least 7 days to go until the hype starts, imo.

The upside cold be fantastic....and the downside might be at a guess no more than 50p......

3 v 10 at moment Harry so posssible drop on way

Falklands threads gone quiet as of late...but I bet we are in for a wake up call very soon...

That would be good. A bit of froth to increase the price would be nice.
It's not nearly high enough right now!

On the UP on spike reached 364.50 and now some retracement and ready for the next move up 358 / 359p now

Expectation of the drill has reached a depth of around 2000 metres.

so maybe soon news from the company about the were abouts.

If they hit oil anything like sea lion....6 or 7 within an hour.....

what i find extraordinary is that FOGL price keeps trying to rise, though i can see no logic for that at all - no oil; wrong place and so on and so forth

And I bet that Borders and Argos and Desire will rise if there is a strike.....they say that sometimes a stock next to another stock but nothing to do with whatever the main rising one will rise as well...during the dotcom boom : this happened many a time....

i could readily understand that with both DES and Argos, but FOGL may as well be on another planet

Cynic a bag of coal is at a record high, are you back or still away?

got back last night ...... happy to be long here and short FOGL .... may cash my profit on DES tomorrow ahead of RKH's rns

Sea Lion Main fan +
Sea Lion lower fan ? +
S2 +
Perhaps 2 to 4 more fans from S2 to TD.

http://www.proactiveinvestors.co.uk/companies/news/25026/rockhopper-explorations-new-sea-lion-well-nears-target-horizons--25026.html


Rockhopper Explorations new Sea Lion well nears target

Friday, January 28, 2011 by Jamie Ashcroft

Rockhopper Exploration (LON:RKH) may report findings from its latest oil exploration well in the Falkland as early as next week, according to research by Evolution Securities.

David Farrell, oil and gas analyst at Evolution, reckons the new Sea Lion well could potentially reach its two target horizons at some stage over the weekend.

Rockhopper spudded the 14/10-3 exploration well 8 kilometres north west of the Sea Lion discovery on 13 January. This new well is testing a previously undrilled northern lobe of the Sea Lion fan system, outside the Sea Lion Discovery Area about 8 kilometres away from the original discovery well.

Looking back at previous drilling rates in the North Falkland Basin suggests that Rockhopper may potentially be reaching the two target horizons of its current 14/10-3 well at some stage this weekend, Farrell said.

This means an update from the company may come as early as next week.

The original Sea Lion well put the north Falkland basin on the map as a credible frontier oil play when it struck oil early in May.

Back then Rockhopper set the discoverys recoverable resource estimate at 242 million barrels (mmbbls) of oil, and it also noted the discoverys significant upside potential". In September flow testing on the Sea Lion well returned a rate of around 2,000 barrels of oil per day (boepd) for approximately 18 hours. The test peaked at 2,304 bopd.

Since then however Desire Petroleums (LON:DES) string of unsuccessful exploration wells have dented what was becoming an increasingly compelling oil boom in the south Atlantic.

Now with investor attention firmly fixed on the only confirmed oil discovery in the new frontier, a successful result from the new Sea Lion well could give the Falklands oil story a breath of fresh air.

Indeed Farrell reckons a positive drilling result could add between 200 and 300 pence to Rockhoppers share price - which currently stands at around 360 pence per share. He highlights that the success of a second well could take the Sea Lion resource to 500 million barrels.

Investing prior to well results is obviously very risky however we value the Sea Lion discovery, at 200 million barrels, at 351 pence suggesting there is some decent downside protection, Farrell said.

The analyst adds: If successful, in addition to the direct benefit to Rockhopper, a 500 million barrel field development becomes a much more attractive proposition to an international oil company (IOC) or national oil company (NOC) and should therefore lessen the commercialisation discount applied to all companies in the Falklands.

It is clear that the weeks and months ahead will be crucial for the AIM-listed firms exploring for oil in the north basin - Rockhopper, Desire Petroleum and Argos Resources (LON:ARG).

Alongside Rockhoppers drilling results, these companies are also likely to get a boost from a widespread seismic exploration programme across all three companies' acreage in the basin.

The results of the two separate seismic programmes, using different vessels, are expected early in spring. Work is already underway on the first programme, which partners Rockhopper and Desire. Argos and Rockhopper are partnered for the other seismic programme.

BY oil Brat on iii........i hear they are coring.......chav?


jambo it is indeed common practise to run 90ft triples for major coring.

Tell you what folks its also common practise to wait til you have HCs. For this coring job there would be some value in taking some of the shale to assess its qualities. But normal standing instructions for coring are:

"At any drilling break (increase in speed of drilling) beyond xxx depth, drill 3ft and circulate bottoms up (cuttings to surface). If HCs detected in the mud or cuttings, geologist will make the decision to core."

I've seen many a coring job and that is standard. If they are coring then expect oil / HCs. If they are coring then expect no definative RNS until Tuesday afternoon at the earliest.

OB.
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Falklands oil company Rockhopper Exploration, up 0.3 per cent, to 356, was in focus. Traders reckon

Falklands oil company Rockhopper Exploration, up 0.3 per cent, to 356, was in focus. Traders reckon Rockhopper could announce drilling results from 14/10-3 well this week and analysts reckon a discovery could add 200p-300p to the share price.

If successful, a 500mmbbl [million barrel] field development becomes a much more attractive proposition to a major and should therefore lessen the commercialisation discount applied to all companies in the Falklands, said Evolution Securities in a recent note.

I wish graphics and text were kept small......got to scroll back and forward now to read the board...... very boring.