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.

A kick up the barrel might be more appropriate BB!

http://ftalphaville.ft.com/marketslive/?inprogress=1

On to the small caps then
and some more good news
from the Falklands

Rockhopper Exploration Plc (RKH:LSE): Last: 255.25, up 17.25 (+7.25%), High: 266.25, Low: 245.25, Volume: 6.44m

the Rock
has revised upwards is P90 estimate I think
p90 reserves now of 155m barrels
that's based on a recovery factor of 30%
says the sector watcher
all very good news
and further evidence that they really do have a commercial well
in Sea Lion


A technical update from RKH, which looks pretty positive. The group says that based on the most recent Sea Lion well (14-10/4) it is raising its low case estimates of Oil In Place to 516m barrels - Ryder Scott currently carries 382m barrels on a P90 basis. RKH says that assuming a 30% recovery factor, this indicates recoverable reserves of 155m barrels. Previously the group was carrying 57m barrels on a P90 basis, although this was based on a recovery factor of only 15%.

The group also says that the result of an MDT flow-test indicated the well had the potential to flow at 2,700 b/d, compared to 2,000 b/d in 14/10-2. Not sure today's news really fundamentally changes anything, it's more a case of RKH becoming more comfortable with the commercial case for Sea Lion. Following the current Desire-operated Ninky-1 well, the rig will return to RKH to drill the next three appraisal wells on Sea Lion, and this should really tie down reserves estimates. Our NAV on RKH is 593p/share compared to a Friday close of 238p/share - ship them in.

and a bit more from
Canaccord

Although the Sea Lion discovery offshore the Falkland Islands requires further appraisal, the latest press release from Rockhopper increases our confidence that it will prove to be commercial. In its low case, the companys updated estimate of the oil in-place at the field is 35% ahead of the last published assessment by independent consultants RPS Energy. Of course, the recovery factor assumed by RPS in its low case in mid-2010 was only half that alluded to by Rockhopper today. However, we note it also used 30% in its best estimate and as much as 40% in its high case.

Key features

In its low case, Rockhopper now believes Sea Lion covers an area of 22km and contains oil in-place of 516 mmbbl. It points out that this would translate into contingent resources of 155 mmbbl if a recovery factor of 30% is assumed.

Valuation
If it contains reserves of 170 mmbbl, we estimate the Sea Lion oil field is worth equivalent of 515p per Rockhopper share when allied to an oil price of US$87.50/barrel flat real and a 12% discount rate. Adding an estimated 78p/share of net cash increases the total to 593p which is our target. We reiterate our BUY rating.

marky does the valuation take into account the cost of extracting the oil?

Hi Hal, not sure if you meant Canacords value or my value which is a lot lower as all i have done is priced the oil in the ground at a low price of 4 a barrel the figures all change if it 5 or 6 barrel IN A BIG WAY.

i assume you mean $ and not

marky meant Canacords valuation, presumably any bidder would have to take into account the massive cost of building the infrastrucure required to facilitate oil extraction.

Cynic Oil has just hit 120 dollars a barrel so me using 4 barrel is putting a price of $ 6 a barrel in the ground roughly cheap as chips


Hal am not sure as the infrastructure will be expensive but they have put the minimum size of the field has to be 40 million barrels for it to be profitable, so really that statement today saying they have a min of 155 mill barrels takes us a step closer till they a producing.

Maybe they might get a partner or sell out of that prospect for a lot of money,its a huge area down there and early days like the Nort sea.

They also said they would use FPSO

hali doesn't like TLW either; told him, but for some reaon he doesn't believe it, that spaceships will be doing the transport from the oilfield - easy peasy

I like the graphics Marky!

A quick sketch on the back of a fag packet.

Lol!

F***ing halifax.......not you hali.,. wanted to sell today ......and can't at mo!!

why can't you?

have now, kept going to set a trade deal. Rightly or wrongly have topped up XEL as there will be news very soon. I'm hoping for a ................................YYYYYYYYEEEEAAAAHHHHHHAAAAA moment.,.

that might equally be as someone sticks a splintery broomhandle up your arse!

With gold at these high prices, and new dicoveries from medusa, the share price can only go one way. It was also nice to collect a cash dividend a couple of weeks ago.

Sorry wrong thread.

Fox Davies flash note

http://www.fox-davies.com/media/374133/fdcrockhopperapril052011.pdf

Look like the Rocks on the move order book looking strong on level 2 with a 10% filter on it.

RNS after the close last night declaring that GLG partners had acquired more than a 5 percent stake in Rockhopper, the omens look very positive. GLG is an American hedge fund which is now part of Man Group.