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.

Assuming correct, rig now with RKH:
http://www.rigzone.com/data/rig_detail.asp?rig_id=578

No the rig is still with Desire and will move some time next week to RKH.

Will the DES news the Times affect tomorrows opening price..?

Definitely, imo & as RKH to drill two wells, should be a great time (sometime next week) to pick up some of these.

Don't panic Mr Mannering,

Investing in any Oil discovery companies is and has always been high risk, especially so in areas where 'no oil in significant amounts' has been found.
All this RNS gives is known facts, without the hype, that has understandably crept into the equation.
The sp will no doubt drop on opening, and yet with the high risk high reward possibilities still being about the same as about a month ago, the closing sp on Friday is about right.
Too many people were caught up in the growing euphoria that was gaining strength almost daily. Not saying I was one of those staying totally calm and level headed, we are all human (well most of us) and I admit to allowing dreams of untold wealth to creep in, before head once again took control of heart.

So the sp will drop due to those who had a punt over the last month or two with the sole intention of the result on LIZ coming in big time and will now panic.

Personally I will wait before I consider selling, still biting nails for a bit longer till we 'KNOW the full results on Liz and Sea Lion.

Just bought a few more, but took 5 attempts to get right price and spread, as both up and down like the proverbial yo-yo.
Yes, big gamble but hopefully the right one. Just watch the day traders go on this one.

Bought some more as this is the next well.....

agree with you GM, i only put a couple of grand on this one and am happy to wait and see.

The fall is overdone.

Fill your boots at this prices, but DES at the moment is better price as it went down over 60%, RKH was only 40%

Both recovering fast now

Intraday

Plenty of buys today...looks oversold

Is having an afternoon push UP and holding around 45p at the moment, some resistance around this price

Still could go either way mainly due to day traders.
Very rarely join them but bought/sold today at about 15% profit, no doubt some will make or loose more.

Why the rush into RKH perhaps several weeks before drilling results are known.

Hi Halifax,

My main holding in Rkh was bought about 4 weeks ago, which I still hold, (was already in FKL for a couple of years and Fogl about 6 weeks).
As ever it is all in the timing, you could wait for a few weeks but this could be the best time to get in. Crystal balls anyone?

Lets wait for the next RNS from DES before jumping in the deep end, if the news is poor you know what the sp will do.

By the reaction on the share price, it could be some of the shareholders in DES are switching to RKH now as the rig is moving to Sea Lion

From the FT.com        MARKET REPORT - SMALL CAP

Desire Petroleum dropped 49.5 per cent to 50p after disappointing test results from its first well in the north Falklands basin.

That news also hit the other Falkland explorers. Rockhopper, which is looking for oil in the same basin, fell 15.9 per cent to 45p while Borders & Southern, which is exploring to the south of the islands, lost 5.9 per cent to 55p.

But some analysts remained positive on Desire. On balance, while the market may have been looking for seagull-scorching test results, it should be borne in mind that this is the first of a potential six-well programme by Desire, said Seymour Pierce.

It is encouraging that initial indications suggest that potentially all the ingredients reservoir, trap and hydrocarbons are present in the general area.

For DES perhaps most of the bad news might be already in the price...50% lower than friday...blimey !...and another 5 wells to go minimum....and there is that RKH classified discovery...most people have forgotten about that....

"Rockhopper is next to drill after Desire, and Sam Moody, Rockhopper's managing director, said that the company believed that the Sea Lion prospect could contain 150m to 200m barrels of recoverable hydrocarbons, probably oil.

"This is one of the best prospects we have so that's why we're drilling it next," he told the Financial Times.

He said that the Sea Lion prospect would not be "particularly deep". Desire said that gas had been found in the Liz prospect but more testing was needed.

He expected drilling to start at Sea Lion a week after completion of Liz. The two prospects are 50km apart."


http://www.ft.com/cms/s/0/2facb164-3b92-11df-a4c0-00144feabdc0.html

good rise today sensible switching from DES after disappointing drilling results.