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.

Markymar/Aldwickk,

Agree to both.
If there was a Maggie v Christina political fight, Maggie would win by a knock out before the seconds had chance to clear the ring.
The political shambles we have now, both in power and opposition are nowhere near in the same class.
Mind you, when I say in power, I should have said, 'Those that pretend to be in power, cow towing to the EU of course.

Anyone else think its very hypocritical any MP criticising Jimmy Carr and others for using 'morally wrong' tax avoidance schemes, when their favourite hobby was 'House Flipping' to avoid CGT.
Also their attitude, 'We have a better pension than you, so up yours', which once again knocks their message that pension reform and retirement ages are necessary, which of course they are.

Not forgetting that they are still not required to show receipts for all expenses.

Fiddling Barstewards the lot of them!

Ignoring the possible result from the BOR drilling, somewhere around 200p looks likely imo. Of course BOR failure or success would have a marked effect on the sp.

I think BOR results maybe up to a month away due to delays,not as close on this one to get my ear to the door.

On Tuesday 17th July 2012

The Copthorne Hotel, 122 Huntly Street, Aberdeen AB10 1SU

Start 6.30pm

The Sea Lion Field, North Falkland Basin; Appraisal and Development Planning

Lucy Williams (Rockhopper Exploration)

It has been a busy and exciting time for Rockhopper since the discovery of the Sea Lion field in the North Falkland Basin in May 2010. Following a successful drill stem test of the discovery well to establish flow to surface under natural conditions in September/October of the same year, the company has embarked on an aggressive field appraisal and exploration drilling programme in the Sea Lion area. Between January and December 2011 Rockhopper drilled a further eight wells. In addition to appraising the field, three new hydrocarbon bearing reservoirs have been proven (Casper, Casper South and Beverley). Comprehensive data acquisition and analysis has been key to de-risking the first commercial development in the basin. A full suite of wireline logs including PEX, DSI sonic, CMR, FMI, VSP, MDT and CST has been run. Seven wells were extensively cored giving a total recovery of ca. 450m, and PVT samples recovered for analysis from all reservoirs and all fluids. A second fully engineered production test was successfully performed to confirm that the reservoir would flow at commercial rates. In 2010/11 a total of 4,500km2 of 3D seismic was acquired and pre-traded between the three companies operating in the basin. Interpretation of these data forms the foundation of the presentation.

In April a Competent Person’s Report was prepared for Rockhopper by Gaffney, Cline & Associates. GCA deterministic Best case gross estimation of STOIIP for Sea Lion is 1.3 billion barrels oil, and their probabilistic mean case gross STOIIP is 1.1 billion barrels oil. Mean gross contingent resources for Sea Lion is 328.5 mmbbl and a further 67 mmbbl and 838.8 bcf gas gross mean contingent resources is reported for the additional reservoirs. There is substantial exploration prospectivity in addition.

In parallel with the subsurface studies, facilities concept selection work has identified a subsea development and FPSO as the preferred option to develop the Sea Lion reservoirs. A number of subsea manifolds will be installed for both production and water injection wells. The project is expected to be sanctioned in April 2013 with first oil in 2016.

I am still seeing posts re potential farm-in partners or/and potential purchases of the whole company being frightened off by the threat of Argentina perhaps mounting an attack on the Falklands and taking over all assets re oil, (remember REPSOL).

But who is likely to become a farm-in partner or a buyer.
Whoever it is, is likely to be a company based in a foreign country with far more clout that the UK.
American, Chinese, Asian or even a European country would mean a doubling of opposition to any perceived threat.
As has often been said, the UK with its advanced fire power over the Argies would no doubt be sufficient, but just imagine the response to such a threat should Rockhoppers partner be an America, Chinese or European partner.

Imagine the following in a hostile act by Argentina.
European partner.
Several days of dialogue followed by action.

American partner.
Several days of dialogue, whilst action taking place.

Chinese partner.
Several days of action (probably only need a couple of hours), followed by dialogue Possibly.

So yes, at the moment the sp is no doubt being knocked by the supposed Argy threat, but whatever country any potential partner, buyer comes from, the Argentina threat would once the deal is signed, disappear in a puff of smoke.

greek the more you "clutch at straws" the more the sp drops.

Hi Halifax,

I have no doubt your "clutch at straws" comment is either an attempt to wind me up, or an attempt to knock the price for your own agenda.
As John McEnroe used to say, You can not be serious!

Well it is Wimbledon fortnight!

The sovereignty of the FI would still remain british, so regardless of the nationality of the farm in partner, policy would still be dictated by the British (Probably with a little diplomatic muscle flexing from the interested party). No other foreign power would be able to deploy military resources in British waters.

Hi HARRYCAT,

Agreed, but the mere presence of an American or Chinese company would have a positive affect.

No income until 2016.

crude WT $78 and falling Brent just holding $90. Asda petrol price 127.7p and diesel down to 132.2p from tomorrow.....not looking good for a farmin at this time.

http://en.mercopress.com/2012/07/05/falklands-considering-easing-capital-gains-tax-for-oil-and-gas-industry

Thursday, July 5th 2012 - 07:30 UTC

Falklands’ considering easing capital gains tax for oil and gas industry
The Falkland Islands government is considering tax legislation that will help to further promote the oil and gas industry activities by granting more time for the capital gains effective presentation.

The Falkland Islands a tax haven ? can they do that without the consent of the British government.

Markymar,

Excellent news. I would have thought that this would have had a positive effect on all the FI oilies.

rule #1 - to pay cgt you first need to make a profit!

http://www.cnbc.com/id/48095272

Tensions Flare in Falklands: What It Means for Big Oil

---------------------------------------------------------------------------------

Cynic but losses can be put against profits and rolled over for years.

Still none the wiser Mr C on....... very quiet

The tables are turning.....


http://en.mercopress.com/2012/07/06/mps-call-for-uk-to-vote-against-world-bank-loans-to-argentina-to-counter-falklands-aggression

MPs call for UK to vote against World Bank loans to Argentina to counter Falklands’ aggression
Twenty nine British MPs have called for Britain to vote against Argentina receiving any more money from the World Bank. The group signed an early day motion in Parliament that was put forward by Conservative MP for Romford, Andrew Rosindell, who had previously visited the Falklands.

Spotty sails into Falklands

Oliver Shah Published: 8 July 2012 The Sunday Times
Rockhopper Exploration has made a large find and four other companies are drilling (Gary Clement)

THE former Tory party treasurer David “Spotty” Rowland has embarked on a Falkland Islands adventure by buying more than 20% of a company that provides hotels, shipping and fishing support services.

Rowland and his son Jonathan bought £8m of shares in Falkland Islands Holdings last month. The AIM-listed company raised another £2m from existing investors. The deal coincided with the 30th anniversary of Britain’s victory over Argentina in the war for the islands.

David Hudd, chairman of Falkland Islands Holdings, said the money would be used to build warehouses and accommodation to capitalise on a potential oil boom. Rockhopper Exploration has made a large find offshore and four other firms are drilling there.

The company may also seek to build a permanent port to replace the 25-year-old floating piers used by the oil explorers.

Hudd said he had known Rowland for years. “He came to the Falklands with four other people and they were enthused by the opportunity, so on the way back we worked out a deal to raise £10m,” he said. The Rowlands invested via their Blackfish Capital vehicle.

.

well that's one out of the blue - i hold both so it'll be interesting to see what the market thinks