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.

I think it will be well in to next week before we here anything depending on weather as well,clog chucked!!!!!

Thks Marky

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.

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RNS Number : 6329H

Rockhopper Exploration plc

01 June 2011

Embargoed: 0700hrs 1 June 2011

Rockhopper Exploration plc

("Rockhopper" or the "Company")

14/10-5 Appraisal well update

Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to provide the following update on the 14/10-5 appraisal well:

-- Significant reservoir package and hydrocarbon column encountered

-- Wireline log analysis indicates 93.5m (306 feet) net pay in good quality reservoir

-- Average porosity greater than 20%

-- Average permeability of 100-200 millidarcies (mD) and up to 1,000mD

-- 79m net pay in main fan complex

-- 14.5m net pay in lower fan complex

-- No oil water contact observed

-- Rockhopper now intends to test the well

14/10-5 was drilled 600m north of the 14/10-2 discovery well to a total depth of 2,726m (drilled depth) and was the second appraisal well on the Sea Lion feature.

The well was designed to appraise the Sea Lion main fan reservoir and investigate hydrocarbon column and reservoir distribution.

The well has been highly successful, proving a very thick, high quality reservoir package and a substantial oil column. The geological prognosis once again came in very close to prediction.

The Sea Lion reservoir sands were encountered 22m updip from the 14/10-2 discovery well at a depth of 2,378m (drilled depth). A total reservoir package of 110m (360 feet) comprising one main sand and three thinner sands was encountered with a net to gross of 91% in the main sand and 25-80% in the lower sands. The gross oil column in the main Sea Lion fan is now 125m (410 feet). MDT pressures confirm oil gradients throughout all sands.

Wireline logging indicates that reservoir quality is good, with average porosity of greater than 20% and average permeabilities of 100-200mD.

79m (259 feet) of net pay has been encountered in the main fan complex with a net to gross of 91%. 14.5m (47 feet) of pay has been encountered in the lower fan complex with a net to gross of 25-80%. The lower fan was not prognosed to be well developed at this location.

64m (210ft) of conventional core was cut and recovered through the main sand.

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.

Following completion of all testing operations, Rockhopper intends to drill a further appraisal well on Sea Lion located some 4.2km to the west of the 14/10-2 discovery well. This well will be located outside the Company's "low case" area and within the Company's "mid case" area for the main fan and is also intended to penetrate the lower fan in what the Company believes will prove a more optimal location.

Sam Moody, Chief Executive, commented:

"This is an enormously encouraging result and is a testament to the quality of our technical team. The well test will be another key step on the road towards proving commerciality for the Sea Lion discovery."

marky - you have a much better understanding of these things than certainly i do, and also of nearly all others on this site ..... please can you therefore put this latest rns into perspective, particularly as to its true significance, rather than the very obvious hefty knee-jerk that will occur this morning

This looks like good news to me......not only a main discovery but also the possibility of a smaller one in another fan a few miles away....that's what I understand.....got to be several hundred million barrels of oil here.....now please don't tell me the sp will drop...it's got to jump by 30 or 50p...3 here we come soon...

Rns has not appeared on money am yet...

what a surprise!

Does this happen often ?.....anyway just went over to the RKH website and there it is....

In auction immediately.

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Well done for holding.

Am afraid DES hasn't followed like RF thought.... bad luck rf.,.

The Angel profits going to be up today marky?!

Sold out at a smallish profit and bought some more RKH....BB..

because DES is virtually bankrupt and is only good at finding sandpits!

Looks like we both bought at the top this a.m. rf going back now but never mind can onlly get better in a month's time

Now and again you can make a profit on good news for others like this morning......let's not forget that the falklands campaign is in its infancy...years of drilling to come and probably extra acreage for exploration will be up for grabs...