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.

Mediterranean Operations Update
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to provide the following operations update for the Mediterranean portfolio.

Highlights
· Plans progressing with operator to increase production at Guendalina gas field

· Civita onshore gas development project sanctioned - first gas expected Q4 2015

· Participation in Croatia and Montenegro first offshore licencing rounds

· Estimated capital investment in Mediterranean assets of $5 - 10 million in 2015

Guendalina (Rockhopper 20%)
Since Rockhopper completed the acquisition of Mediterranean Oil & Gas plc ("MOG") in August 2014, net gas production at the Guendalina offshore gas field has been maintained, following minor well interventions, at approximately 200 boe/d.

Rockhopper is actively supporting the operator's (Eni's) planned work programme to drill a side track to the well that is currently shut in following damage to the wellbore in 2012. The sidetrack is currently scheduled for Q4 2015 / Q1 2016 and Rockhopper would anticipate investment of up to $6 million (net to its 20% interest) with expected increase in net production to over 400 boe/d.

Civita (Rockhopper 100%)
Following receipt of the last significant regulatory approval, Rockhopper is pleased to announce the sanction of the Civita gas field development.

The Rockhopper operated Civita development, located onshore Italy in the Abruzzo region is expected to produce approximately 1.0 bcf of gas over a 4 - 5 year field life. Construction of facilities and pipeline are expected to commence in early 2015 with first gas anticipated in Q4 2015. Capital expenditure on the Civita development is estimated at $3 million.

While modest in size, the economics of the Civita field are considered attractive with an IRR > 20%, payback in 18 - 24 months and an expected contribution to production of approximately 150 boe/d in 2016.

Croatia and Montenegro licence applications
Rockhopper has applied for acreage in the first offshore licencing rounds in Croatia and Montenegro. The outcome of such applications are expected later this month in the case of Croatia and early 2015 in Montenegro.

Sam Moody, CEO of Rockhopper, commented:
"Since completing the acquisition of MOG in August, we have conducted a thorough review of the portfolio with a view to focusing on those assets that provide low-cost opportunities to unlock value.

Participation in the Montenegro and Croatian licence rounds provides potential low cost, early entry to highly prospective acreage in regions with proven hydrocarbons. We continue to evaluate both organic and inorganic options to grow our second core area in the Med & North Africa."

StockMarketWire.com
Rockhopper Exploration has been awarded a 40% interest in offshore Block 9 in Croatia in partnership with Eni (60% interest and operator).

The block is located in the relatively shallow water of the prolific Northern Adriatic gas province and contains the previously discovered Ksenija accumulation along with the Klaudija prospect.

The anticipated work programme consists of seismic acquisition, processing and re-processing during the first exploration phase (3 years) with the drilling of a well in the second exploration phase (if Rockhopper elects to proceed to the second phase).

Signature of a Production Sharing Contract with the Croatian Hydrocarbon Authority must be completed by 2 April 2015.

In addition, and as previously announced, Rockhopper has also applied for acreage in the first offshore licencing round in Montenegro. The outcome of such application is expected in Q1 2015.

Sam Moody, Chief Executive of Rockhopper, commented:

"We are delighted to be partnering with the leading international producer in Croatia as we build our position in our second core area of the greater Mediterranean region following the acquisition of MOG. This represents an outstanding low cost opportunity to increase our acreage position in an area with proven hydrocarbons."

Rockhopper Exploration Plc - The 70th Oilbarrel Conference

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Update on Drilling Rig and Analyst Presentation
Rockhopper Exploration plc (AIM: RKH) are pleased to announce that the drilling unit Eirik Raude has arrived in the North Falkland Basin (NFB) and will shortly be moving to location to commence the first well, on the Zebedee prospect, of the six well drilling campaign that will see two wells drilled in the NFB then one to the south of the islands, followed by two more in the north and a final slot in the south.

Sam Moody, CEO of Rockhopper and Tim Bushell, CEO of FOGL, will be hosting a joint presentation today for sell-side analysts. The companies will provide an update on the upcoming 2015 drilling programme, and their respective presentations will be available later today on the company websites, www.rockhopperexploration.co.uk and www.fogl.com.

No new material financial information will be disclosed in the presentation.

14/15-5 Well Spud and Drilling Order Update
Rockhopper Exploration plc (AIM: RKH), announces that the 14/15-5 well (the "Well") was spudded, by Premier Oil as operator, on 6 March 2015.

The well is located on licence PL004b in which Rockhopper has a 24% working interest and is an exploration well on the Zebedee prospect. The Zebedee well will test a total of seven stacked fan bodies with varying geological chances of success (GCoS) of 9 - 52%. Net prospective Pmean resources are estimated at 68 million barrels (mmbbls) in a range of 13 - 178 mmbbls.

Drilling, coring and logging operations are expected to take approximately 30 days. A further release will be made when those operations are completed.

Current planned drilling order:

1 Zebedee (RKH 24.0%)
North Falkland Basin, Licence PL004b
2 Isobel Deep (RKH 24.0%)
North Falkland Basin, Licence PL004a
3 Humpback (Non RKH well)
South Falkland Basin, southern licence area
4 Jayne East (RKH 24.0%)
North Falkland Basin, Licence PL004c
5 Chatham (RKH 40.0%)
North Falkland Basin, Licence PL032
6 Second Noble operated well
South or East Falkland Basin, to be decided

The North Falkland Basin wells are anticipated to cost approximately US$50 million each. As a result of the various carry arrangements, the total net cash exposure to Rockhopper of the four wells is estimated at approximately US$25 million. No drill stem testing is planned during the campaign.

Samuel Moody, CEO, commented:
"We are very pleased to be drilling again in the North Falkland Basin and to be targeting prospects we first mapped in 2012. This exciting exploration campaign exposes shareholders to a range of prospects and risks which in the case of success will add significantly to the value of the already discovered and appraised Sea Lion field."

Well...it's back to the Falklands excitement (if you can call it that)....this time round I'm not sure if they might prefer condensate to oil in the following wells....anyway with Sealion :if oil could go back to $70....there would be an upwards run on these shares....

Must be close to target intervals now....

14/15b-5 Well Update Oil and Gas Discovery
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to provide the following update on the Zebedee Exploration well 14/15b-5 (the "Well").

Highlights
· 25.3m net oil pay in Zebedee
· 18.5m net gas pay in Hector
· Additional oil bearing F2 sand with 2.6m net oil pay

The Well is located on licence PL004b in which Rockhopper has a 24% working interest. The Company can confirm that all seven of the reservoir targets predicted across the Cretaceous F1-F3 intervals were encountered. An additional sand was also encountered in the F2 sequence. Three of the sands were hydrocarbon bearing at this location, including the primary Zebedee F2 fan and additional oil shows were recorded in the deeper F3 targets.

Wireline logging and formation test data indicate that a total of 18.5m of net gas pay, and 27.9m of net oil pay were encountered in the Well.

http://www.moneyam.com/action/news/showArticle?id=5009114

Might be a delayed sharp rebound here......I reckon the sp will go up to 80p plus.....

StockMarketWire.com
Rockhopper has reported a 9-month FY pretax loss of $7.6m, from a year earlier 12-month loss of $15.7m. Revenue was $1.9m, from nil. It enjoyed a $6.5m forex gain, against a $2.6m forex loss in the prior period.

Chairman Pierre Jungels commented:
"The Zebedee well result represents a fantastic start to the 2015 Falklands drilling campaign and provides early proof of the significant remaining potential in the North Falkland Basin.

"The adoption of a phased, lower cost development solution for Sea Lion significantly de-risks the project and should allow us to capture further cost savings as we progress through the FEED and draft FDP submission processes in 2015 and early 2016.

"Since the acquisition of Mediterranean Oil & Gas plc, steady progress has been made in advancing the Mediterranean portfolio. Our recent Croatian offshore licence award represents an outstanding low cost opportunity to increase our acreage position in an area with proven hydrocarbons.

"Rockhopper's balance sheet remains strong and the Company is well placed to take advantage of potential growth opportunities which may present themselves as a result of the current market environment."

Separately, Rockhopper has agreed binding documentation with the Falkland Island Government ("FIG") in relation to the tax arising from the Company's 2012 farm-out to Premier Oil plc ("Premier").

The Tax Settlement Deed confirms the quantum and deferment of the outstanding tax liability and reflects the principles agreed between Rockhopper and FIG in December 2013 and is made under Falkland Islands Extra Statutory Concession 16.

Highlights:
· Outstanding tax liability confirmed at £64.4 million (approximately $95.7 million) and payable on the first royalty payment date on Sea Lion (or earlier subject to certain events)

· First royalty payment date anticipated to occur within six months of first oil production which itself is estimated to occur in late 2019 (assuming Sea Lion project sanction in mid 2016)

· Outstanding tax liability amount may be revised downwards if the Falkland Islands' Commissioner of Taxation is satisfied that either (i) the Exploration Carry from Premier is used to fund exploration activities in the Falkland Island license areas; or (ii) any element of the Development Carry from Premier becomes "irrecoverable"

· Rockhopper provides certain "creditor protection" undertakings to FIG while the tax liability remains outstanding including (i) restriction on dividends or distributions; (ii) granting of first ranking security over Rockhopper assets; and (iii) while such security is in place, restrictions, subject to conventional carve outs, on granting further security

· Intention that at the point Rockhopper is able to secure senior debt for the Sea Lion project, the security provided to FIG will be released and FIG will be provided with a standby letter of credit to preserve its creditor position

· Rockhopper retains balance sheet strength with cash resources at year end 2015 projected to be approximately $125 million.

Operations Update - Isobel Deep & Mediterranean

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to provide the following update ahead of the Company's AGM today in relation to the Isobel Deep Well and its Mediterranean operations.

Isobel Deep (Rockhopper 24%)
Following the penetration of a sand interval with suspected elevated formation pressure and oil shows, the operator has decided to set a cement plug over this interval and run the contingent 9 5/8" casing string in the shale section above, prior to drilling through the prognosed Isobel reservoir interval to the well TD (Total Depth).

The contingent casing string will enable additional flexibility while drilling and evaluating the target formation. This scenario had been anticipated and the additional 9 5/8" casing is already on the rig.

The presence of oil shows is not necessarily indicative of net pay and conclusive results for the well will not be available until drilling operations have been completed and logging data collected.

A further announcement on the results of the well will now be likely in early June.

Mediterranean
Guendalina (Rockhopper 20%)
A planned acid wash on the short string has been completed and has resulted in a gross production increase from 18k scm/d (thousand standard cubic metres per day) to 75k scm/d from that string. Overall gross production from Guendalina is currently approximately 190k scm/d ( or c.38k scm/d net to Rockhopper equivalent to approximately 223 boe/d (barrels of oil equivalent)) The planned sidetrack to the GUE2 well at Guendalina is due to take place during the summer of 2015.

Ombrina Mare (Rockhopper 100%)
The Environmental Impact Assessment ("EIA") of the Ombrina Mare Field Development Plan ("FDP") has been approved by the Minister for the Environment. The approval decree includes the 'Autorizzazione Integrata Ambientale' (Integrated Environmental Authorisation) ("AIA"). The decree now needs to be countersigned both by the Ministry of Cultural Heritage and then the Ministry of Economic Development in order for the Minister to be in a position to award the Field Production Concession.

Civita (Rockhopper 100%)
Development remains on track with construction having commenced. First gas is expected by the end of 2015.

StockMarketWire.com
Premier Oil and Rockhopper Exploration confirmed an oil discovery at the Isobel Deep exploration well 14/20-1 in the North Falkland Basin, about30km south of the Sea Lion field.

The Isobel Deep exploration well has been drilled to a depth of 8,289 feet reaching top reservoir on prognosis. The bottom 75 feet of the well consists of oil bearing F3 sands.

These sands were at a higher than expected reservoir pressure and this resulted in an influx into the well. As part of the operations to remove the influx, oil was recovered from the well and appears similar in nature to Sea Lion crude.

As a result of the new geological information it has been decided to suspend operations on the well and release the rig to drill in the South Falkland Basin. The rig is expected to return to continue operations in the North Falklands Basin in August.

A few years ago : the sp would have soared on this news....how times have changed...+2p....now....

Same with Fogl, it's purely down to many punters expecting nothing less than a 100% proven gigantic oil find, so even a result that looks 'very promising' disappoints.

If I had a few quid spare, I would be topping up.

One other thought is that at $57 pb it isn't profitable to extract and given that forecasts for the crude price don't exceed $70 pb for the next 12 - 18 months, the probability of them starting to prepare for extraction are a long way off, imo.

Hi Harrycat,

I read an interesting report over the weekend (I think it was from Shell, but not sure) that due to many explorers cutting back as well as those supplying the infrastructure, the result could be that the thin end of the wedge re supply v demand could see $200pb by 2020.

I have read many reports since the start of the ppb drop and there are now more looking at the likelihood of the above than predicting the opposite.

Demand will I think within a couple of years, be again chasing supply, so by the time and FI field start production they will be ideally positioned for the higher ppb.

Regards Greek.

"Demand will I think within a couple of years, be again chasing supply......" If that is so, then no reason to invest in any of the oilies yet, unless you are happy to trade in and out on the small bounces following each RNS. I do hold ARG from a long way back, but I am the first to admit that it is stagnant money and not one of my best investments!

Still sitting here with my RKH and pleased with the rise in the last couple of days. I hope the dip today is the profit takers selling - that said, once bitten twice shy and I shall wait a while before committing more.

StockMarketWire.com
Rockhopper Exploration has acquired a portfolio of non-operated production and exploration interests in Egypt from Beach Energy Ltd for a headline consideration of $22.0m.

Highlights:
· Rockhopper to acquire the entire issued share capital of Beach Petroleum (Egypt) Pty Limited ("Beach Egypt") which on completion will hold: 22% interest in the Abu Sennan concession; and 25% interest in the El Qa'a Plain concession

· Current working interest production from Abu Sennan of approximately 1,300 boepd, net to Rockhopper (based on average H1 2015 production levels)

· 2P plus 2C reserves and resources at the effective date of 1 July 2015 are estimated at 4.5 mmboe (management estimate), net to Rockhopper

· Headline consideration of US$22.0 million to be satisfied: Approximately US$11.5 million in cash; and the issue of new fully-paid Rockhopper shares to the value of US$10.5 million, priced based on the volume weighted average price of Rockhopper shares during the 30 days prior to completion, subject to a maximum of 5% of the Company's issued share capital (the "Rockhopper Consideration Shares")

· Implied transaction multiple of less than US$4.50 per barrel of oil equivalent (adjusting for estimated financial assets being acquired)

· Rockhopper retains balance sheet strength post acquisition - forecast cash at end 2015 estimated at US$110 - 120 million

· Transaction represents the continuation of Rockhopper's strategy to build a full cycle E&P company focused on its two core areas and represents the Company's entry into Egypt, a prolific hydrocarbon province

· Acquisition anticipated to complete in late 2015 / early 2016 (subject to satisfaction of certain conditions), with consideration adjusted for net cash flow attributable to the assets since the effective date of 1 July 2015.

Who Should Attend?Date:

Wednesday 12th August 2015

Venue:

Novotel Tower Bridge, London EC3N, 10 Pepys Street, London, EC3N 2NR

Event Timings:Sponsored by: