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.

there will have been a huge amount of forced closing ..... RKH/DES have certainly saved my bacon these last couple of days

I'm moaning but I bet that some people sold out at 40p or so.....I'm gutted but how do you describe what they must feel ?....these markets are crazy....

I still can't quite grasp why this shot up this afternoon....we know they have discovered a reservoir...but it has to be above 50 million barrels of oil.....what do they do ? guess ?...

RF and some people bought in at 12p and held......

Marky...you're a genius.....where does this go from here ?....I'd like to buy back in but will have to wait....hands up...my own fault...should have stayed put...just did not expect the 2nd rns.....but still not sure about the amount of crude down there...

Well done you guys, especially markymar he's kept faith with RKH and he started this thread, I briefly dabbled in these many moons ago but not holding (sadly) now.
2517

i too wish i had prescience, but sp could easily have collapsed this morning - as it nearly did ..... so for sure i sold a big slab far far too cheaply, but it was still a decent profit ..... and yes, first thing i had 3x as many as i now hold even now, but complaining about being prudent is preposterous

Selftrade analysts (x2) have current forecast target price as 172p.

Thank u RF and George, was very glad they hit oil or it would have been 12 years I have wasted my time..Shell must be kicking them selves now as they have walk away from a gusher but you never no they might join in the drilling yet.

RKH had a number of companies wanting a slice of there acreage to drill but could not agree terms as they were wanting to much and they didnt think RKH could raise the money to drill well RKH raised the 50 mill and told them these are the terms and the companies walked away well there banging on the door now.

So many different scenarios now which could happen and its quiet mind boggling but one thing for sure if your holding RKH shares this is only the start as RKH have many more prospects and its very attractive to larger oil companies.

The top and bottom of this is the NORTH FALKLANDS BASIN hold huge amounts of commercial oil up to 60 billion barrels the BGS used to say 110 billion barrels why they changed that to 60 I dont know.

I sold @ 81 yesterday for a 100% gain and never looked at the price untill this afternoon when it was @142 , i just couldn't believe it.

required field ...They can't test now because FOGL are waiting for the Rig and the test equipment will take a while before it gets to the Falklands...it's a big piece of kit.

Sorry i missed all your comments...had to work. No regrets with my safe move this a.m. well done to those who held on. RF stop griping, whats done is done there will always be another day. Slowly slowly catchy monkey..:))

Let's face it, this is a "feel-good" amid a sea of despair :-
BP woes in US, UK Elections (Arrgh!) - and - Greek revolts.

I cannot imaging this small outfit can really be worth so much- it has to be punter madness.

Once the oil is coming out; it isn't exactly near a decent market....Argentena still thinks all the Falklands belong to them . . . . and this crude will need processing, unless it's particularly light....before it can be put into tankers heading to Europe.

v. Good news for those that believed the Rockhopper story, I recall they were at several Investor shows and if memory serves about 30p.
- This rise is almost a 5-bagger.

Put my ill gotten gains into POG this a.m. at 10.67p now up 30p...lovely. Back to 13 soon..

have a good w/e old son!

you too cyners..

Upgrade to "Buy" from Oriel. Potential 600p is just from a median size Sea Lion find (excludes other potentials) - and its likely very much bigger than that.

http://uk.reuters.com/article/idUKLDE6461W620100507

UPDATE 1-Rockhopper says Falklands oil find high quality

Fri May 7, 2010 4:23pm BST

* Says further testing at Sea Lion gives encouraging results

* Eyes flow test at later date

* Stock up over 50 pct

LONDON, May 7 (Reuters) - British oil company Rockhopper Exploration (RKH.L) confirmed its controversial drilling programme near the Falkland Islands has found high quality oil, boosting its shares for a second straight day.

Rockhopper, which initially announced the discovery on Thursday, said fresh data showed the find was a "high quality reservoir interval with very good porosity and permeability".

The data increased the likelihood that the company would return to carry out a flow test, Managing Director Samuel Moody said in a statement on Friday.

Oil exploration in the islands off the coast of South America has sparked protests from Argentina, which claims the British territory.

Shares in Rockhopper were trading up 50 percent at 140 pence a share by 1514 GMT, after more than doubling on Thursday, valuing the company at around 243 million pounds ($375.8 million).

Oriel Securities analyst Richard Rose upgraded his stance on Rockhopper to "buy".

"In the main 25m pay zone permeabilities range from 200-500 Milidarcies with peaks of over 1 Darcy. In layman's terms this indicates a decent quality reservoir," Rose said in a note.

"In addition, no oil/water contact has been encountered, another positive," he added.

While further drilling will be needed to confirm the findings, a commercial discovery based on the current reserve estimates would be worth up to 600 pence a share, Rose said.

API figures should be out Monday or Tuesday from the fluid samples testing. Lets hope its light ;)

My comments would be, firstly RKH is still exploration, they have the Ernest prospect to drill very soon (150M+ barrels potential and a low risk target). They also have two other leads now very much derisked by Sea Lion success. These other two leads are potentially over 250M barrels).

Sea Lion is big - make no mistake. Already they have 53M of net oil pay (double expected) and they have not hit the oil/water contact and need to drill another well as an appraisal later to find that. Therefore there could well be even more millions of barrels there to be found. This could be a half billion barrel find (and remember its 100% owned by RKH and under UK jurisdiction).

If you call it 300M barrels and times by 8 US$ a barrel (I think just 8$ is conservative) then you get over 1.6 Billion pounds just for Sea Lion. Of course its worth a lot more as it moves into production but for now you need an idea and so use a low oil price.

Given this find, the other prospects and the very soon drilling of Ernest then there is no reason why a price double of today would not still be "very cheap".

I have sold DES and brought more RKH - it makes sense to me, very good sense, follow the one who already has a find and is drilling more - the price is under pinned now.

i believe Sealion is named as Discovery Well on the map at the top.
Where is Ernest relative to that?
Frankly I haven't a clue!!

cynic, check the RKH website if you want more details.