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.

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.

i guess you have called it wrong hlyeo for now the order book looks very strong to me hence the sp going up.

Looking very good on a bad day, hope you cancelled your short hlyeo. Am not budging from AFR, XEL, or RKH or BLVN for that matter.,.

Interesting graph for RKH ....... SP rose causing a long black candlestick followed by a gap lower during the next day while the market is in downtrend RKH started today down but strong buying pushed the share price up so the
day ends up as a strong white candlestick, which closes more than halfway into the prior black candlesticks real body causing a Bullish Piercing Line Pattern.

Its a BUY

hlyeo98 You must be brave or you only have pennys on your short, I would of thought they have carried out the Mini DST by now but will they tell the market the result or wait till the flow test is complete.tum tum tum clip clop

.

hyleo - wow i am surprised at your short right now