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.

http://en.mercopress.com/2018/07/16/north-falkland-sea-lion-project-premier-oil-advancing-in-contracting-suppliers

North Falkland Sea Lion Project: Premier Oil advancing in contracting suppliers

StockMarketWire.com
Rockhopper Exploration said first-half losses deepened as production volumes slipped and operating costs rose.

Losses for the six months through June amounted to $7.4m, compared to losses of $7.0m on-year.

Revenue rose slightly to $5.1m after higher oil and gas prices offset moderately lower production owing to natural field decline.

Cash operating costs, excluding depreciation and impairment charges, rose to $2.2m, up from $1.8m.

Rockhopper said it was ramping up its Sea Lion development in the North Falkland Basin towards project sanction by mid-2019. It would focus in 2018 on securing senior debt for the project.

'We continue to work closely with the operator to progress Sea Lion and, while much work still needs to be done to finalise the funding of the development,' chairman David McManus said.

'With oil prices currently above US$75 per barrel we are focussing all of our efforts on doing everything possible to allow project sanction to take place next year.'

'Notwithstanding the increased activity and spend on Sea Lion, the company continues its ongoing focus on cost control and has maintained a strong balance sheet with cash resources at mid 2018 of $46m and no debt.'

StockMarketWire.com
Rockhopper Exploration said it had discovered a potential new oil-producing section at its assets in Egypt.

The company said its Al Jahraa 6 well was successful, not only in its primary objective as an infill oil producer.

The well had also encountered good oil shows in the Abu Roash-D, E, G and made a new oil discovery in the deeper Bahariya section.

The Bahariya formation was put on test on 22 September and, after clean-up, was producing in excess of 550 barrels of oil per day with a stable water cut of 22%.

That represented the first commercial oil production from the Bahariya formation within the Abu Sennan concession.

Current production from the concession was around 3,800 barrels of oil per day, in line with rates for the first half of 2018.

'We are delighted to have made real progress with this drilling program in Egypt and particularly to have produced commercial volumes of oil from the Bahariya formation for the first time,' chief executive Sam Moody said.

'With an improved payment situation as well, we are pleased with recent activities on our Egyptian acreage, and we look forward to the rest of the ongoing exploration program.'

Dril-Quip (DRQ +1%) says it has entered into a front end engineering and design contract with Premier Oil (OTCPK:PMOIF), firming up a prior agreement to provide subsea production systems for the Sea Lion Phase 1 Development offshore the Falkland Islands.

DRQ estimates the value of the equipment portion of the scope of work is $207M, which includes plans for as many as 30 subsea production systems.

Under the frame agreement, DRQ is expected to provide vendor financing for up to 30% of the equipment portion of the contract.