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://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.

The lack of an oil/water contact is also excellent news.

It means it might be a lot bigger..... a lot lot bigger.

So they need to drill down deeper in another area to appraise the size.

You never know, might end up being a 500M barrel size (or bigger)

You have to take you hat of to David Bodecott from RKH and proves the model is correct.

Or they don't want to test it because it might be what they hope.....sorry but you have to be prepared for everything.....now they can raise more funds...but if the test was negative or not up to scratch the sp would drop.....I'm back in as well...

do i take it that none of you has seen latest rns?
glad i got stupid at lunchtime and bought back some of this morning's!

It looks good though....

i also stupidly thought that dow would recover sharply this afternoon following good employment numbers and uk election not being as indecisive as might have been feared ...... thank goodness for these little chappies!

So the :

Porosity is good (so its easily filled with oil).

Permeability is excellent (so it should flow well).

Size is "bigger" than expectation with 53M net oil pay over expected circa 28M.

Oil/Water contact not found yet, so might be very much bigger and needs an appraisal well to go deeper in another area to find out just how big.


Anyone thinking this could be a half billion barrel find......... ;)

PS. Its 100% owned by RKH too :) !!

pp if you are right our money is on a major oily stepping in (BLT) and buying RKH out.