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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Rockhopper Exploration spuds eighth Sea Lion well in Falklands8:31 am by Jamie Ashcroft

http://www.proactiveinvestors.co.uk/companies/news/34812/rockhopper-exploration-spuds-eighth-sea-lion-well-in-falklands-34812.html


Rockhopper expects that drilling operations will be completed in around 33 days time.
Falklands oil explorer Rockhopper Exploration (LON:RKH) has spudded its latest well to test the Sea Lion discovery.

The spudding follows the dramatic evacuation of the Ocean Guardian rig last week, after a loss of power while moving the rig to the current well location. Non-essential staff were airlifted to Port Stanley as a result of the incident.
The 14/10-9 well is being drilled nearly 6 kilometres away from the initial discovery well. This well, which will be the eighth well on the Sea Lion, is located on the groups wholly owned Licence PL032.

The well will investigate reservoir presence and hydrocarbon charge within the Sea Lion Main Complex towards the southern edge of Rockhoppers acreage, the company said.

Additionally it is also an exploration well on the Eastern side of the Casper prospect.
Rockhopper expects that drilling operations will be completed in around 33 days time.
As is the case with most of Rockhoppers Falkland wells, the outcome of the 14/10-9 well is hotly anticipated.

In a note to clients today Merchant Securities analyst Brendan Long said it was fair to expect that this latest well is oil bearing, based on the updated data that resulted from the last well.

He repeated a buy recommendation and a 428p price target, but emphasised that the upside potential of 14/10-9 has not been factored into this target.

Another nice rise this morning - 212+.

Despite the rain it's a nice day!

Yep... nice to see Rockhoppy rising.....

I see CREDIT SUISSE GROUP have bought another 4 million shares today

Good,... the more banks and institutions on board the better...at long last the market seems to be moving this up.

Important drill this one RF I am quietly hoping to see some big numbers in this .hoping to get a Brucey bounce as well!!!!!

Newspaper Briefing,
7:22 am

http://bit.ly/tjdCdR
Broker Views:

Tower Resources: Westhouse Securities maintained a Buy rating on the stock, with a target price of 14.80p

Rockhopper Exploration: Westhouse Securities maintained a Buy rating on the stock, with a target price of 658.00p
Huntsworth: Numis Securities Ltd maintained a Buy rating on the stock, with a target price of 165.00p

Lloyds Banking Group: Evolution Securities upgraded the stock to Buy and increased the target price to 50.00p

Stagecoach Group: RBC Capital Markets upgraded the stock to Outperform and increased the target price to 300.00p

Inchcape: Numis Securities Ltd upgraded the stock to Buy and increased the target price to 390.00p

Marky

There have been a couple of questions asked on Pro's delusionary thread but perhaps you might know what is happening regarding OG. It sounds as though she is leaving at the end of Q1 2012? Is a replacement planned?

1st March departure for the OG...no replacement as far as I've heard. RKH don't need a Rig till 2015 production drilling and I cant see DES/ARG finding the cash to bring another down..imo

chav so no drilling activity for RKH for the next 3/4 years, what are they going to do just play cards?

Chavs correct.

According to Rockhopper, they will spend that period developing those oil fields already found.
But my feelings are that they will sell out, allowing them to carry out further exploration work with another rig, although I appreciate I am in the minority in thinking this.
It has been stated on another site, that there are several rigs awaiting contracts, due to the decrease in use over the last few months.

Chav

Thanks for that. So its a case of sitting tight and waiting to see what the future brings.
Perhaps the FOGL spud and results might rekindle interest - I hope so!

greek tell us which company is going to risk shareholders money on buying RKH?

avsec i think Chav has hit the nail on the head i would also agree with Greek that there are other possible ways for RKH to carry on drilling.

First of all Diamond have not released news on their web site to where the OG is going next which leaves the door still open to many possibilities far too many to list.

Could it be that Desire relinquish as operator in March with RKH becoming operator?

Argos at the AGM saying they were hoping to be drilling first quarter of 2012.not a chance if the OG leaves FI waters.

Am sure there will be many twist and turns you just have to look at Desire for that one, the hole they are drilling at the moment will turn heads if it comes up trumps the way I hope it does.

Hal what you mean risk money?

hali - buying anything in the resources sector is a risk, but a bigger fish gobbling up rkh does have at least reasonable logic insofar as rkh is no longer just a blue-sky company

I see that Pro is ramping Falkland oil & gas this morning

marky how much would a bidder have to pay to takeover RKH and then stump up 2billion to develop the oil assumed to be in place?

i assume your $2b is correct, but purely from gut feel, i would have thought 350-400, but arguably a bit more ..... and no, i have no idea how much that pans out to

Hal until we get CPR out next year we wont know the official figures of what sea lion holds it stands at 155 mill, we all know now unofficially it stands about 400 mill + I have always stated about 400 to 500 mill early on..first drill I was shouting them numbers please pull me up if am wrong.

I think personally with the next 2 drills we may get 700+ mill a ramp maybe but I have always tried not to ramp this as it does not need to its massive. This drill at moment will be huge if my friend who is a Geo is correct; nothing is for certain so I will wait for results.

If we can agree to 500 mill then anyone putting 4 billion pounds in to a 50% stake of sea lion is $4 a barrel in the ground cheap as chips

2 billion for production 2 billion for RKH to carry on exploring there vast acreage.

Call it in size 250 mill barrels it only $ 8 a barrel I have not seen a field sell for less than $8 a field anywhere.

The only risk at moment is waiting for the CPR report in thinking what the final figures will be!

Money will follow the oil, greed always kicks in so will a hungry partner with big pockets will come