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.

Very disappointing so far...is fifa anything to do with this ?....

FOX DAVIES

Rockhopper (LON:RKH) Exploration (BUY, 5.00) (RKH, 231p, ▲ 14.07%) provided an update on the 14/10-5 appraisal well. The well 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 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.

investors are rightly wary of reports coming from FI after recent misleading info etc ...... further, unless someone knowledgeable can advise differently, even this latest rns is only an indication of good things to come rather than anything absolutely definite

Cynic RKH are doing a full health check on sea lion this time,they have all the correct equipment in place this time around.

Last time the equipment they had was limited as the Argies impounded the boat with all the gear on it.

Things do go tits up and have done many times before hopefully this time the next few RNS will Rocket this SP back up to new highs

Not sure on news time frame with so many tests been performed, its looking like its going to be a monster.

Don't start saying 20 soon marky....keep feet on floor.,.

marky - i think you're right; rkh is "pack leader" and i'm sure the management will be very conscious of earlier inaccurate reports ..... i currently hold just my "norm" at cost price, but just possibly will buy a few more as the price (probably) drifts back following the initial excitement

Just glad its up,not sure if the price will drift Cynic the news today is quiet mind blowing the share is still undervalued in my eyes on the 155 mill barrels they say they have.


125 meters wow!!! any thing over 35 meters i would of been happy with so looking forward to flow test full results.

Need some numbers to crunch,Clogs on clip clop clip clop Balerboy

A few brokers notes

Oriel Securities Richard Rose said: This is a highly encouraging result, with net pay in the main fan being significantly greater than that found in the discovery well. Rose values Rockhopper at 560 pence a share, based on 240 million barrels of oil. But he stressed that it could even be worth 740 pence a share, if oil prices stay around US$100 a barrel in the long run

Evos analyst values the stock at 409 pence a share, which is based on a 200 million barrel recoverable resource, but stressed that the shares could be worth 671 pence each (referring to his core + risked valuation).

if i have read L2 correctly, and i'm certain i have, then an "ordinary" buy of 661,420 just went through at 260

I saw that number go through @260.10

Also 519,329 at the same amount!

cynic how are you getting on building those spaceships in your garage?

it's a niche market but shall soon be needing larger premises :-))

I have a mine if you want more room,u will have to wear clogs mind u cynic,clip clop

225,000 buy @ 257.80 16.42

Merrill: Rockhopper has announced that its SeaLion appraisal located close to the original discovery has encountered 93m of net hydrocarbon pay (79m in the main fan and 14m in the lower fan). No water contact was observed. This is significantly better than the original discovery of 53m. Importantly, reservoir quality also appears good with over 20% average porosity. We believe that this result is key to firm up the P90 resources of the field of 100mmboe and to dissipate market concerns around the commerciality of the field. *Flow test remains key As expected, now the company will move to flow test the well with improved equipment. Given the improved reservoir package, we believe that the flow should be significantly better than the 2-4kboe/d observed in the field in the past. A successful flow test is crucial to assess the deliverability of the field and move SeaLion towards commercial stage. We reiterate our Buy rating and 515p PO/NAV.

The sector watcher: A very encouraging operational update from RKH with the latest appraisal well on the Sea Lion discovery coming in on prognosis. Located only 600 metres north of the original discovery the well was low-risk, but nevertheless this is still a great result. Total net oil pay is 93m, with 79m of this in the main fan. This compares to net pay of 53m in the original discovery well. The 14m of pay in the lower fan is better than expected it was not prognosed to be well developed at this location. Whilst early stage this has clear potential implications for future reserves upgrades. The well has been cored and the oil quality is good porosity >20% and permeability of 100-200mD. The well will now be fully tested (both upper/lower zones), which should take another month. Whilst this doesnt affect our NAV of 593p/share, it is extremely encouraging. Following testing the next appraisal well will be drilled 4.2km to the west, ie a greater stepout and targeting the P50 reserves, both the upper and lower fans. Thereafter two more appraisal wells will be drilled back-to-back. Ultimately by the end of the summer we could therefore be in a position to prove up the base case of 170m barrels recoverable (on which our 593p/share NAV is based), with an upside case of around 242m barrels this would translate into a NAV of more than 800p/share. Todays news is as good a preliminary result as the group could have hoped for. The RKH share price of 231p/share is still toiling just above a 12-month low, and represents an excellent buying opportunity.

Ridiculous low sp based on what we know.....

indeed - but what a good day - yeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaa!!! much more to come imo!

gla

I've shorted RKH at 252p

i think you are very brave indeed and fear you may live to regret it ...... as it stands, you're doing little or no better than b/e and the order book is looking quite strong, which is not a great surprise despite the general bloodshed

I'll watch for a day or two.