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.

Merchant Securities has cut its target price for Falkland Islands explorer Rockhopper (LON:RKH) to 328p from 358p.

It comes after Premier Oil (LON:PMO) agreed to buy 60% of the Sea Lion field.

Analyst Brendan Long said: “We are lowering our target price for Rockhopper in order to highlight the severe dislocation of the share price relative to the value of the company as implied by the cash amounts (upfront and carried costs) that Premier has agreed to pay in consideration for a 60% farm-in to Rockhopper’s assets in the Falkland Islands.”

He estimates that the implied value of the assets is US$1,476mln, which he reckons is a “remarkably good valuation point”.

(Reuters) - Residents of the Falkland Islands vote on Sunday in a sovereignty referendum aimed at countering Argentina's increasingly assertive claim over the British-ruled territory.
Diplomatic tension between Britain and Argentina has flared up more than three decades since they went to war over the South Atlantic archipelago, and that has unsettled some of the roughly 2,500 islanders.

With patriotic feelings running high, Falklands-born and long-term residents will cast ballots in the two-day referendum in which they will be asked whether they want to stay a British Overseas Territory.

Officials are expected to announce the result at about 8 p.m. (2300 GMT) after polls close on Monday.

Sunday Times article suggests large shareholder Odey Asset Management is demanding half of the $230m paid by Premier Oil be paid to shareholders either by a share buyback or a special dividend.

How low can it go? and when to start buying to hold?

I sold out of RKH a long time ago as not a great deal I could see happen till 2014 but I do want to buy back in at some point to hold long term as it has a great future.

http://www.edisoninvestmentresearch.com/sectorreports/Falklandsoils080513final.pdf

sp down to 125p,next stop......

Am watching like a hawk also Desire

Also FOGL ......

Open waters to 110p now after reaching lows today

Lots of trades going through today......A little strange

So what's spooked RKH this morning.
The RNS on a debt facility is rather benign and so I don't think that's the problem.
Results??
I was quite looking forward to a steady rise in the share price.

Rockhopper shares dip with confirmation of Sea Lion slippage
By Jamie Ashcroft August 22 2013, 9:50am It was also revealed today that Rockhopper was included in an enquiry by another, unamed, Falkland explorer, about a possible rig contract in the latter part of next year or early 2015.It was also revealed today that Rockhopper was included in an enquiry by another, unamed, Falkland explorer, about a possible rig contract in the latter part of next year or early 2015.

Shares in Rockhopper (LON:RKH) fell 7% in early deals as the Falkland oil explorer confirmed that the timing for the Sea Lion field has slipped.

The final investment decision won't now be made until the back end of next year.

An agreement has, however, now been made regarding the baseline development concept.

A tax judgement from the Falkland government is also a concern. Rockhopper submitted tax returns for a capital gains liability of US$78mln, but, according to the government the liability ought to be US$296mln. The explorer has subsequently appealed.

It was also revealed today that Rockhopper was included in an enquiry by another, unamed, Falkland explorer, about a possible rig contract in the latter part of next year or early 2015. This enquiry envisaged that Rockhopper would take three rigs slots.

The company says it has not yet decided how it will move forward with rig contracting - whether it will go it alone or team up as it previously did with Desire Petroleum in 2010.

"The Sea Lion development remains central to our strategy," chairman Dr. Pierre Jungels.

"We have around 150 million barrels of fully funded oil, which in the present financial market conditions is a good place to be. In addition to our funded oil, we also have the cash to fund further exploration in the North Falklands Basin.

"Having completed the handover of our Falklands data and engineering work to the new operator we are pleased to say that there is now a baseline concept that meets all of the operator's internal economic metrics.

Work continues apace to optimise the concept before front-end engineering and design can start, which we anticipate will be in early 2014. The final investment decision is now expected to be around the end of 2014.



"The strength of our balance sheet and the fact we lead the exploration for the joint venture means we will continue to play a key role in the ongoing exploration of the North Falklands Basin and to that end we are pursuing any opportunities for a standalone exploration campaign that may arise ahead of the development drilling."

Cheers dc

Plenty of fall yet till I pick some up

Camping at Robins hoods bay

RNS will Odey rock the boat, sp continues downwards?

Odey held 12.61% as at 1 August and now up to 13.83% as notified today.
They must think that there is something there for them otherwise why add more shares.
I don't want to think about them selling their holdings!

TT Odey were pressing for a return of capital or dividend when the farmout with PMO was announced, this question remains unanswered.

Ok. Forgot about that.
But the other question is then why did they add to their holdings if they were at all concerned? I think they just saw a bargain.

TT perhaps Odey are trying to put more pressure on RKH to distribute some of the proceeds of the farmout before it is spent by the directors.