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.

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

m
hope you wont mind me saying so,i can see the long black candlestick but i dont see a gap lower during next day(2/6) on your above chart.post 4737.
opened 250 and yesterdays(1/6) low was lower than that.
i can certainly see the previous days gap. thats clear for all to see.
i hope your right, even if it is by default, or should i say accident:-)
that 290sh tail on my bar chart reading looks to me as if it will take some topping.not sure what it is called in candlestick terms.just my opinion .
regards and good luck to you
jkd

Level 2 at 263.5 there is a strange number come up on the book can anyone explain?

It maybe a mistake on level 2 or one almighty sell ....ideas anyone

just posted about that on P's thread - 2 blocks totalling 50 million, and it's still showing

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now removed

Morning all clip clop,where has my good weather gone.

very hot here but windy and humid

What curry house are you in ?

Seem to have some residence round this 2.70p mark