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Or could go down like the Titanic! Good luck to you rf. You seem to like the buzz of the mega risky stocks. A bit too hot for me this one! Am sitting on ARG but long time out of DES & RKH.

With 2 hits at the same place....surely it will hit oil again.....this well should be a lot less risky than any previous drilling ang most people have the jitters about this....me as well....but I'm hoping for a great result here...

Am I becoming too optimistic here ?......starting to steam......not me : the sp....

Set yourself a target and stick to it. Sell half and let the rest run? Have a strategy of some kind!

Think a cold shower needed rf.....

As I'm at a loss.....that would be half at a loss...keeping the other loss....

My stategy is : make some dosh and every may, to get stuffed on the pullback.....seems to work every year ....when will I learn ?...

News tomorrow then ?


http://www.thisislondon.co.uk/markets/article-23955081-cairn-catches-a-cold-in-wake-of-arctic-rig-stunt-by-greenpeace.do


........Are private punters gluttons for punishment? Desire Petroleum - the Falklands oil explorer famed for turning oil into water - shot up 1p to 13.3p after completing a seismic data programme highlighting new drilling prospects.

Desire is short on cash, however. "Really, Rockhopper and Desire ought to merge," said one City motormouth. "Otherwise, Desire's future looks doubtful."

Rockhopper, which updates the market tomorrow and struck crude last year, rose 13p to 216p............

12 millions shares traded. Thats a good volume spike and upwards movement.

Pretty much looking like some good news is on the way.


30 metres of net pay at this location would be good news..... lets see.

Goldman Sachs target price is 732 pence, as per the link below :

http://www.igindex.co.uk/content/files/ukratings_31may2011_igiam.pdf



But, not like the FT to put the wrong figure in, never mind.... anyway, its 732p and conviction buy.


Market report from the FT.com

Small caps: Desire in demand
By Neil Hume and Stephen Smith

Desire Petroleum was in demand on Tuesday. It shares advanced 6.4 per cent to 12 1/2p after the Falklands explorer said it had identified new drilling prospects, one of them at the same stratigraphic level as Rockhopper Explorations Sea Lion discovery. However, traders reckoned Desire would find it difficult to finance futher exploration in the waters off the Falklands given the companys dreadful drilling record.

With limited cash resources remaining the group faces a funding crisis later this year, commented Canaccord Genuity. Given that Rockhopper has a 7.5 per cent interest in Desires acreage it is in a good position to evaluate the assets, and is probably the only credible buyer of the company, or potentially to undertake some kind of asset deal, e.g. increasing its stake in exchange for carrying Desire.

Rockhopper, meanwhile, rose 14.1 per cent to 230 1/2p helped by the clearance of an overhang and a bullish sector note from Goldman Sachs. The broker has slapped a conviction buy rating and set a 657p target price on the company, which it is says it one of five stocks that offers high-impact exploration newsflow supported by core values that mitigate downside risk of exploration failure. Another stock in that category is Bowleven, 2 per cent higher at 307p, according to Goldman.

In addition, Rockhopper was also lifted by speculation of a bullish drilling report from its 14/10-5 appraisal well, which was spudded in early May. Traders reckon Rockhopper has already started to flow test the well after drilling down 800 metres.

Of course, if they have already started to flow test it means news is perhaps some days away as yet, perhaps even next week then.

However, the move to flow testing in effect tells us the results of drilling were ok and they have found suitable net pay to commence flow testing.

So either way even if no news, its all good :)

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An interesting RNS.

The Lower Fan was not expected to be there, but it was and also 14.5M of net pay in it.

The Main Fan was 79M of net pay, far in excess of the wildest expectations of many.

Porosity and permeability are good.


So now we have two key events ahead. Full flow test of the Main Fan where we want to see circa 4000bopd. This will go towards a proper "commercial" tab being applied.

Then a westerly appraisal outside of P90 area but in P50 area.


A good flow test can send this back to 350p levels easy.

More P50 becoming P90 will send this back upwards of 400p.


And so we patient RKH INVESTORS continue to wait for the company to do the work, and I still have not sold a single share :) Looking good !

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I am expecting no interim update.

......The Company now intends to test the well. Tests will comprise both mini DST (downhole dual packer MDT) and a fully engineered drill stem test (DST). The Company intends to perform mini DST tests on both the upper and lower fans and to perform the fully engineered DST on the upper fan only. Testing operations are anticipated to take approximately a month and a further announcement will be issued once all testing operations have been completed......


Which is good news, what we want next of the full flow test results, defined and unarguable. No interim update now. Just hopefully some share price exploding good full flow test results for the main fan.

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Mirabaud have always been VERY anti-Falklands IMV.

They have been promoting Africa and Kurdistan and being anti RKH and all FI stocks.


I ignore anything they have to say, they have nothing positive to say about anything Falklands related and soon I hope they are eating large doses of humble pie !!!!!!


Just IMO.

Good day yesterday, buyers starting to move back into the market.

All we need now is a good flow test, if its market pleasing then this should be back over 350p in no time.