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.

FT blog today - "rumours of an update on the Falklands find at 3.00pm".

Its risk/reward.

If the next update is good and the price surges all those saying "well done for selling and taking profits" will be mute and avoiding posting.

Greed and fear, thats what drives markets.

I am opting on to the side of "not selling" and waiting for more "good news" and to see much much higher prices.

Time will tell if thats the right call, I am willing to take the risk :)

I am sure some of the sellers wish DID NOT at this point

Ofcourse a profit is a profit and so on

Harrycat, this could be a "huge" find so possible for an update late today or Monday.

Fingers crossed........take the risk or not is the question, I am taking it and happy to be right or wrong on that call.

Apparently it is a RNS concerning the pressure encountered down the well. Rumour is that the pressure was above expectations. I reiterate, rumour only at this point.

Good pressure + 19% porosity = likely commercial find.

Fingers crossed for good news on that front, thats key to moving it up to a new higher level for now.

Tiptoed back in but at a fraction of the amount held earlier....should have bought back in as soon as sold out....went down to 81p...10mn later..

cynic - 06 May 2010 17:36 - 647 of 701 ...lol....SFB is a lot deeper and only Toroa can be drilled with the OG type Rig. All the other targets require a very expensive Drill ship or higher spec, non anchoring, semi-sub...BOR also require higher spec Rig for it's very deep targets.

Proselenes

I'm quite sure most who say to take the profit today will certainly continue posting. You seem to know little about the oilfield BTW, but I'm thinking this is due to your current euphoria overcoming logic.

on map above, and i accept i am exceedingly thick, water looks much deeper in north basin

========

reuters have no new rns

Big Al,

May a suggest you read CPR to get a better undertanding of things

http://www.rockhopperexploration.co.uk/pdf/RPS_Rockhopper_CPR.pdf

Cynic...NFB much shallower than SFB.

obviously i need to learn to read ocean charts then!
i assumed 500m was deeper than 100m - see map at top

The map above shows all NFB i.e. DES/RKH/Argos areas...it is confusing having said map labeling the Southern section of the NFB as Southern Basin!

Cynic there is a better map here and drill locations

http://www.desireplc.co.uk/images/uploaded/6783585_5405333.pdf

.

markymar - I'm extremely capable of reading and understanding (fully) the CPR. ;-)))

thanks marky, but Sealion is close to 500m contour which, as i (stupidly?) commented, sounds a lot deeper than 200m

We need some "uptodate" maps...

Out again ....another profit...boy !...is this fun or what ?.