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.

once you have proven reserves, the game changes, but by how much sp will profit from that and when is anyone's guess

The danger is if this is not a commercial well....look at TLW-AEX-SOLO......found probably the edge of a reservoir but no flowing hydrocarbons and the sp has been unfairly savaged....the same could happen here....so this is a gamble at the moment....I'm not sure whether to come back in or not with a big buy....would hate to see the sp go back down to below 60p again.

I'm quite happy to trade it. Made my money yesterday and then in late last night and out at 99p. I'm far too long in plenty others to stay around here for too long.

Anyway, I'm long BOR and DES to cover any large and sudden rise.

required field, the difference with TLW is they found "traces". They did not find any large accumulations of oil. So a major major difference to here.

TLW/AEX/SOLO = No net oil pay.

RKH = 53M of net oil pay.

Comparing Apples and Pears.

Not FOGL, dd? Any reason?

"Simply value the oil at around 8 US$ to 10US$ as proven reserves until its into production."

It'll take an awful lot more than that to get each barrel out. There's absolutely no infrastructure whatsoever. Dreaming.

RNS Number : 5565L .....Rockhopper Exploration plc ......07 May 2010
Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to provide the following update on results of the 14/10-2 well on the Sea Lion prospect.

Additional logging data focussed on determining reservoir quality have been successfully collected. The new logging data confirm the following:-
53 metres of net pay in multiple zones

Thickest sand is also confirmed at approximately 25m net pay

Average porosity is 19%, with peaks of 28%

Logs show excellent permeability. In the 25 metre pay zone, permeability ranges between 200 Milidarcy and 500 Milidarcy, with peaks at over 1 Darcy

No oil/water contact has been encountered

The company will now proceed with additional log analysis and collect fluid samples

The Company now intends to run a liner to allow the well to be suspended for future testing. The Company is also considering whether to drill an appraisal well on the Sea Lion target later in the drilling campaign.

Further updates will be provided in due course as appropriate."

It's a good start but there will be ups and downs along the way and navigating them will prove to be difficult.

http://www.investegate.co.uk/Article.aspx?id=201005071455425565L

Rockhopper Exp plc
RNS Number : 5565L
Rockhopper Exploration plc
07 May 2010

Drilling Programme Update


Sea Lion Exploration Well - 14/10-2

Oil Discovery - update


Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to provide the following update on results of the 14/10-2 well on the Sea Lion prospect.

Additional logging data focussed on determining reservoir quality have been successfully collected. The new logging data confirm the following:-

53 metres of net pay in multiple zones

Thickest sand is also confirmed at approximately 25m net pay

Average porosity is 19%, with peaks of 28%

Logs show excellent permeability. In the 25 metre pay zone, permeability ranges between 200 Milidarcy and 500 Milidarcy, with peaks at over 1 Darcy

No oil/water contact has been encountered

The company will now proceed with additional log analysis and collect fluid samples

The Company now intends to run a liner to allow the well to be suspended for future testing. The Company is also considering whether to drill an appraisal well on the Sea Lion target later in the drilling campaign.

Further updates will be provided in due course as appropriate.


Samuel Moody, Managing Director, commented:

"These are further encouraging results; the logs clearly indicate that we have encountered a high quality reservoir interval with very good porosity and permeability. This increases the likelihood that we will return to this well later during the campaign to carry out a flow test."

Love it...... more info.

Up we go.

Excellent Permeability !!!!!!!!


Wonderful !

Careful...no testing....well suspended for later testing, no flow testing for ages........

Balerboy,

It matters not how far in the future production is, as Rockhopper are an, 'Oil and gas exploration company'. The sp is valued at what they find, and the difficulty in getting it out, which the market prices in. It has very little to do with time from discovery to production.
No one who moves in to take the production stage will be in any doubt as to time scale. Surely you don't expect us to believe they will move in and think, 'Oh, we thought we would just put a pipe in and pump the oil out'.
And if Rockhopper made the jump to production, they and the markets know what that necessitates.
Yes the sp is up/down, thats what shares do, so you have no need to tell us every time it moves.
By all means give us your views/opinions, but at least try to back them up.

Careful what ?

Careful lots of plonkers on here were bleating sell at 90p ?

LOL.

This is utterly wonderful news.

RF give it a rest......

And to repeat what I said yesterday and today "I have not sold any".

Now you see why I did not :)


We have a larger than median estimate find, with good porosity and excellent permeability.

300M barrels anyone ?


And this now massively reduces the risk on the other 2 leads (250M barrels) and we still have Ernest (160M barrels) to drill after the FOGL one.

:) !

Unbelievable....the market has reacted stongly...bought some more but should have stayed in with total amount....2nd rns...why not test this now....?

Incredible share.

Shades of GKP....

The rig has to go off to drill the FOGL well.

They can churn the data now, and then really know what they are talking about come testing later.

Its a flower, thats for sure I do think.