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.

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.

Now Odey's holding is down to 12.96%

Keep this a secret as I don't want the Argies to know but they have forgotten Rockhopper on their list

Monday, September 9th 2013 - 02:19 UTC
Falklands’ Premier Oil joins Argentina’s ‘black list’ of companies ‘illegally’ operating in Malvinas waters
http://en.mercopress.com/2013/09/09/falklands-premier-oil-joins-argentina-s-black-list-of-companies-illegally-operating-in-malvinas-waters

United Kingdom’s Premier Oil PLC has been incorporated to the black list of companies banned by Argentina from operating in the country because of its hydrocarbons ‘illegal and clandestine’ activities in the continental shelf next to the Malvinas Islands without the competent authorization.


Resolution 481/2013 signed by the Energy Secretary Daniel Cameron and is based on the Argentine Law 17.319 which refers to hydrocarbons exploration and production in the country.

Premier Oil thus joins four other AIM listed oil companies carrying out exploration work in Falkland Islands waters which in August were also barred from operating in Argentina for twenty years: Borders & Southern Petroleum, Desire Petroleum, Argos Resources and Falkland Oil and Gas. According to the Argentine government website the ban was implemented with four resolutions: 456/2013; 457/2013/ 458/2013 and 459/2013 from the Energy Secretary.

The 481 resolution says that Premier was notified on 2 August 2012 of Argentina’s determination of initiating all the necessary legal, judicial and administrative actions in defence of resources in its territory, and thus the British company was exposed to sanctions in the different areas.

Premier had ten days to reply the notification but ignored it, thus in consequence resolution 260 from May 2013 declaring illegal and clandestine the hydrocarbons activities of the AIM listed company in the Argentine continental shelf. The final resolution was notified through the Argentine foreign ministry on 11 July 2013.

“The illegal and clandestine activities” from Premier Oil Plc refer to the farm-out deal agreed with Rockhopper Exploration, which is the titular of the ‘illegal’ licences awarded by the ‘illegitimate government of the Malvinas Islands’, and of which Premier acquired an operational percentage.

In July last year Premier Oil announced a one billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands. Premier said it would partner Rockhopper paying it an initial 231 million dollars in cash as well as providing around 770 million to help build infrastructure for the development of the Sea Lion field 2010 oil discovery in the north Falkland basin.

http://www.proactiveinvestors.co.uk/companies/news/62118/rockhopper-gulf-keystone-upgraded-as-goldman-screens-for-oil-sector-takeover-targets-62118.html

Rockhopper, Gulf Keystone upgraded as Goldman screens for oil sector takeover targets

If you had to use just one charting signal I think it would be the 200 day moving average. A case in point is Falklands oil hopeful Rockhopper Exploration (RKH) – shares in which now trade at 144p: but are heading higher.

Let’s look at the daily chart. You can clearly see how, for the first time since July 2012, the shares have broken through the 200 day moving average currently at 139p. This is so material that brave traders might consider going long now without waiting for support to come in above the 200 day line on an end of day close basis or a higher low put in above this feature.

The logical upside target is be the former March resistance level of 160p and that could be on the cards by the end of this month (October).

Cautious traders would wait for a weekly close through 139p - the 200 day moving average - or even slightly higher, the 141p August resistance before buying into a stock which has persistently disappointed in recent months.

However, it does seem that in the wake of the August bear trap below 120p the shares are finally on heading steadily north. You will note the 20 day / 50 day moving average golden cross buy signal at the start of this week adding to the 200 day line breakthrough.

18 December 2013



Rockhopper Exploration plc

("Rockhopper")



Resolution of Capital Gains Tax liability





Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, is pleased to announce that it has reached an agreement in principle with the Falkland Islands Government ("FIG") regarding the timing and quantum of the Capital Gains Tax ("CGT") liability due as a result of its farm out to Premier Oil of a 60 per cent equity interest in its Sea Lion discovery.



Following extensive discussions, the parties have now agreed in principle that the total CGT payable is $146m with payment split into two tranches. The first payment, due immediately, equates to $42m, of which Rockhopper paid $39m in June 2013. The second payment equates to $104m and will now be paid at the same time as the first royalty payment to FIG from oil production at Sea Lion. The liability is to be settled in GB£ at the exchange rate prevailing at farm out completion of $1.6134/£. Further detail will be covered in the interim results which are anticipated to be released shortly.



Documentation of the above agreement will now commence, with a view to becoming effective by the end of January 2014.



Sam Moody, CEO of Rockhopper, commented:



'I am pleased that we have now reached agreement with FIG and that the uncertainty over the quantum of CGT Liability is now resolved. This is an important commercial milestone for Rockhopper as we drive the Sea Lion development forward with our partner.'

Rockhopper Exploration plc 16 January 2014
For immediate release: Thursday, 16 January 2014
Rockhopper Exploration plc ("Rockhopper" or the "Company")

Sea Lion Development update
Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, is pleased to announce that it has completed the concept selection process for the Sea Lion Development with partner Premier Oil ("Premier"). Premier as Operator of the field has recommended the Tension Leg Platform option as the most suitable technical and commercial solution for the development of Sea Lion. Rockhopper has been working closely with Premier and agrees with that recommendation.
Premier has also indicated that Final Investment Decision is now likely to be taken in the first half of 2015 and Rockhopper continues to expect first oil 3½ - 4 years after project sanction. In terms of exploration, the Zebedee, Jayne East, Elaine/Isobel, and Chatham prospects have been matured to drillable status and a rig tender process is underway. This is being conducted in conjunction with other regional operators and includes four firm slots for the Rockhopper / Premier joint venture.
Rockhopper expects a contract to be awarded in the first half of this year and the first well to spud in late 2014 or early 2015.

Sam Moody, Rockhopper Exploration's Chief Executive Officer said: 'We are pleased to have reached another significant milestone in the commercialisation of the Sea Lion Field. The Tension Leg Platform provides operational and commercial advantages over the FPSO alternative and it was worth taking the extra time needed to evaluate the option. We now move forward into the Front End Engineering and Development stage with a view to making a final investment decision in 2015.'

why was i so daffy not to short this one yesterday (at the latest)?

Not looking good at all.....

Interesting acquisition by RKH.....

StockMarketWire.com
Rockhopper said ERC Equipoise Limited has provided its report, which confirms no liquid hydrocarbons have been encountered in the HQ Prospect. Therefore, the Agreed Resources are nil and no Contingent Consideration is payable.

In July, it appointed ERC Equipoise Limited to produce a Competent Person's Report to determine the 2C Contingent Resources estimated to be potentially recoverable from the HQ Prospect.

The news was in relation to Rockhopper's cash, share and contingent consideration offer for Mediterranean Oil and Gas.