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.

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Nearly again a million more buys in RKH and it sits there not movingwhy the big seller not materialised or mms have to much stockAm watching this closely to buy in hard.

Predicaments..


Desire hit duster they all go down.but RKH drilling next so price rise quicker

Desire hits oil and the share both go into orbit but RKH fall quicker as unproven.

Have I missed any thing..market cap 88 millcheap as chips!!!

Interesting as it says "some news next week" and "results end of the month".

That implies they will announce striking hydrocarbons next week and then testing results end of the month.

Jolly good if thats the case.



http://www.pressandjournal.co.uk/Article.aspx/1651272?UserKey=


‘Madness’ to send submarine to Falklands
BY DAVID PERRY

Published: 18/03/2010

Tam Dalyell: warning
More Pictures
The UK Government was warned last night that sending a nuclear submarine to the Falklands in support of a major drilling campaign by a North Sea-based rig would be “madness”.

The warning came from former Scottish Labour MP Tam Dalyell, who famously campaigned for years over the way a British submarine sank the Argentine cruiser the Belgrano during the Falklands war.

Mr Dalyell spoke out as the Ministry of Defence refused to comment on reports that it had sent the 5,000-tonne HMS Sceptre, armed with conventional weapons, to the area following mounting concern in Argentina over the drilling by the rig Ocean Guardian, which is owned by Diamond Offshore Drilling, of Dyce.

It has started drilling for Desire Petroleum in waters north of the Falklands.

Mr Dalyell said the drilling itself was “folly of a huge order”.

A Desire spokesman said the results from the first well would be published “by the end of this month”.

A source described the report concerning the submarine and an earlier report that the rig had been “buzzed” by Argentine aircraft as “rubbish” and reports that the rig has actually found oil as “wild speculation”.

The company’s share price has risen from around 80p at the beginning of the year to around 105p.

A spokesman for the Ministry of Defence said: “We do not discuss submarine operations.”

A Foreign Office spokes-woman said some results from drilling could emerge next week, but it would be longer before anyone could claim to have found commercially exploitable quantities and five years before extraction could begin.

She said the UK supported the Falklands in developing an offshore oil industry but would like to develop good relations with Argentina.

Gordon Liberal Democrat MP Malcolm Bruce, whose constituency includes Dyce, said he did not know if a submarine had been sent to the South Atlantic but he would not be surprised if one were.

Nothing should be done to aggravate relations with Argentina, he said.

But if there was an attempt to interfere with the drilling operations he would expect the UK Government to ”respond to protect our interests”.

He said he would contact Diamond over the situation.

If I remember right Tam Dalyell was one of the group who said something to the effect that 'As the Belgrano was sailing away from the war zone it should not have been fired on'. Presumably he was one of those who thought that we should have waited till it turned round. He is and always has been a liberal bleeding heart.

As for Liberal Democrat MP Malcolm Bruce, He obviously thinks it is also wrong to send the sub ("Nothing should be done to aggravate relations with Argentina", he said), and yet he also states "But if there was an attempt to interfere with the drilling operations he would expect the UK Government to respond to protect our interests.

Perhaps he would advocate waiting until/if Argentina get nasty and then the resultant delay in any action to Protect our interests.
These thumb in mouth brigade make me sick.

We were at war for gods sake.

All I can say is Tam Dalyell is a wimp and a downright coward. He didn't deserve to be a MP. Traitor!

As a person who sat and watched the Argentines come ashore as invaders in 1982 I, for one, am grateful that the FCO has taken a pre-emptive role. Prevarication last time cost lives.

Whilst I am sure the Argentinian government will just continue to rattle political sabres, the mere knowledge of a sub-surface presence should ensure that their Navy does not interfere with any oil related shipping. Submarines are the prime anti-submarine weapon.

I look forward to good news next week regarding the results from DES and that RKH will bathe in reflected glory!

avsec do you still live in the Falklands?

BP contemplating a bid for RKH, says that font of all knowledge, The Express

bet they have no such thought until there are some positive drilling results!

Amazing how many rumours of merger - t/o's there are. I saw one yesterday for Exxon to bid for British Gas (BG.)
Makes sense for the big boys to acquire proven reserves, imo.

Read a couple of days ago that Shell are cutting back on refining and looking to expand their oil producing, as they have been neglecting that area which has not helped their profit base. Also I am sure they have been stung by the fact that BP overtook them in the oil producing area, by profit. So as BP are now ahead, I am sure they will go all out to stay there. The race is definitely on.

Sadly not Marky but I do go back occasionally!

In the Daily Express yesterday. It would make sense for BP to do it, and inbetween DES finishing their drill and RKH starting.

If DES hit then BP could make a generous offer for RKH, but one still well below what would be paid should RKH drill and hit. By hitting a median price and before drilling they could tempt many to cash in and avoid the risk.

So yes, it makes sense.



DAILY EXPRESS

BP rumoured to be considering an offer for Rockhopper Exploration

So why did RKH still dropping?

Risk aversion and shorting.

The COS on each well is low, so the odds favour a failure, so there is tremendous shorting going on on all Falklands stocks.

However, for those holding, should Desire strike oil the rush to close shorts will create one massive price spike as shorters trying to close and also new investors buying all chase the stock price way upwards.

The overselling will create a low price for now, but shorts have to close at some time, and in the event that DES stike oil, you watch the rocket explode.

at the moment RKH appears the best bet as if DES comes up with a duster or inconclusive result attention will shift to the next well to be drilled which is RKH's.

i hold both but not convinced you're right - see also DES thread

cynic we are not suggesting we are right but only saying you have a second chance with RKH if DES doesn't deliver.

Proselenes,

Very sensible post. Very good point re the spike.

In the event of a gas strike : it could be that Desire, Rockhopper and FOGL and Borders and Southern will have to club together for transporting purposes....to and where : that remains to be decided and the same for crude but to a lesser degree....not being an expert ...I'm only guessing....but in the northern basin, it seems the targets are not that far apart...might be possible to develop several together as one...therefore it would be commercial.....

I have done a rough schedule. Provided things went roughly to plan they have found something to test and have spent time running 7" liner and doing DST. Certainly means hydrocarbons have been found IMO. News should be this week of how testing went.





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