.

Nice news on ARG today, they will have fast track 3D data same as RKH for late July, really is time anyone in DES shifted over to ARG/RKH now.

Looks to me like DES really do have the duff license area, sad for DES holders but thats the way it is sometimes.

.

RKH is grossly undervalued anyway..... so it was never going to drop much on bad DES news.

Sp will start to rise ....shame about DES but it looks like RKH is the one to be in !....

RF,

ARG and RKH are the ones to be in, as well as BOR for the south.

with DES being routed as well as the markets in general, i see nothing jolly on the horizon here, or at least not for a good while yet

Time for me to get back in again soon me thinks.,.

DES is now history, its yesterdays news.

Next up is a flow testing extravaganza from RKH, aiming to boost up the flow rates achieved and therefore enable the development planning to proceed with much higher flow rates (and therefore fewer wells and lower development costs).

Next up is constant ramping b******s from P.

Good news for BOR today, with FOGL doing a rig share and therefore meaning BOR now only pay 50% of the mob/demob costs.

Q4 will see ARG/RKH/BOR all drilling and Q1 2012 will see BOR/ARG/RKH and FOGL all drilling.

Going to be lots of positive sentiment around in Q4.

I really do hope Sam Moody of RKH is in touch with ARG now about farming into the ARG license... allowing ARG to raise less money and get their top 2 leads drilled with much less dilution.

Everything hinges on the new 3D seismic which if you read ARG and RKH RNS then both are getting them fast tracked ready for July.

RKH have the know how now to really be able to say what the seismic means in real life.

That would be an enormous help to ARG.



So I really do think that RKH could well be farming into license PL001 that is currently 100% ARG.

Maybe around late July/August time.

21st April rig status report for the Ocean Guardian shows 3 firm wells (that the coming 3 RKH appraisals) and 10 prices options for the new contract in effect once DES P&A Ninky.

So of the 10 options one would expect ARG to raise money for at least 2 wells, if not 3, and drill them in perhaps August/Sept time along with some more RKH wells and then with a couple of options for DES IF they can raise some money. If they cannot then it might be ARG or RKH again.


http://www.diamondoffshore.com/ourFleet/rigStatus.php

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Just had a recheck, looks like we should get appraisal well 14-1/5 spud notice on Tuesday or Wednesday, to start the ball rolling again.

At play :

Thicker Sea Lion Main fan net pay.
Thicker Sea Lion Lower fan net pay.

The above two being good then flow test in excess of 4K bopd.


Those 3 items should be enough to give us another boost, cut the costs associated with the development plan and raise the P90/P50 a little (not much).

14-10/6 and 14-10/7 will be about making the P90 well above the 200MMBO recoverable level.

.

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finance industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

Not much going on here now.

only 37 days to go,then either 500p+ or back to 50p-

This latest well has the potential to send the the sp flying but will it ?, they are going to come across oil and a big flow test is announced....nobody interested ?...so far 2 wells drilled here and success with both of them....why is this not going up ?...am I missing something here ?...

It is "said" that the thicker pay of the Sea Lion lower is West. It is therefore highly likely at this location that the Lower Fan will be thin and therefore it is not a stated "target" meaning that come results time they can give a "surprise" saying that Sea Lion Lower was also hit as this location but thinner net pay and this bodes well etc...

Hence this well is only about Sea Lion Main flow rates / reservoir data for the FEED.

The next appraisal is said to be Westerly, which would mean expanding the P90 and P50 figures from the Main Fan and also then hitting the Lower Fan at its much thicker sequence.

Thats what appraising is about, bit by bit proving it up.

Given the addition of a 4th well, I would suggest :

This well hits Main Fan Sweet Spot for flow rates/reservoir data.
Next well hits Lower Fan Sweet Spot + Main Fan mid-west. (FR and RD)
3rd well hits Main fan/Lower fan west (Expanding P90/P50)
4th well is exploration in the new South Sea Lion potential where 3D is ongoing. (upgrading P10/50/90)

GS gone bullish on oil again, probably why lots of buying now of RKH, as its a conviction buy for GS and so with oil back in favour clients will be made aware of the RKH potential.

http://www.reuters.com/article/2011/05/06/goldman-oil-idUSLDE74513V20110506

Goldman sees new oil rally after predicting drop

Fri May 6, 2011 8:21am EDT

* Says crash sparked by poor macroeconomic, inventories data

* Goldman says oil may surpass recent highs by 2012

* Barcap, Hermes say correction offers good chance to buy

By Dmitry Zhdannikov

LONDON, May 6 (Reuters) - Goldman Sachs, which in April predicted this week's major correction in oil prices, said on Friday that oil could surpass its recent highs by 2012 as global oil supplies continue to tighten.

The Wall Street bank, seen as one of the most influential in commodities business, said it did not rule out a further limited short-term fall in oil prices if macro-economic data, which it said had sparked this week's crash, continued to disappoint.

News of Goldman's mid-term outlook on Friday prompted a $1 a barrel jump in oil prices, helping oil to pare some of its earlier heavy losses. U.S. and Brent crude futures CLc1 LCOc1 were down 2 percent by 1200 GMT after a 10 percent slump on Thursday.

"It is important to emphasize that even as oil prices are pulling back from their recent highs, we expect them to return to or surpass the recent highs by next year," Goldman Sachs' analysts said in a research note.

"We continue to believe that the oil supply-demand fundamentals will tighten further over the course of this year, and likely reach critically tight levels by early next year should Libyan oil supplies remain off the market," it said.

It said it believed that this week's correction in oil prices, which fell from above $125 per barrel of Brent crude to below $106 LCOc1 on Friday, was sparked by disappointing economic data releases and U.S. oil inventory data. [EIA/S]

"The sell-off yesterday (May 5) has likely removed a large portion of the risk premium that we believe has been embedded in oil prices, which could suggest further downside may be limited from here".

"However, we remain wary of potential further downside should economic data releases in coming days continue to disappoint, with the focus now turning to today's (May 6) non-farm payroll report in the United States".

The U.S. Labor Department was due to release its jobs report for April at 8:30 a.m. (1230 GMT) on Friday. [ID:nN05211728]

GOOD BUYING OPPORTUNITY?

Goldman rocked markets in April by calling a nearly $20 fall in Brent, saying speculators had pushed prices ahead of fundamentals. [ID:nN12168871]

Goldman was one of the first banks to predict $100 oil last decade, in 2005 when prices were closer to $50 a barrel, but it stayed bullish for some time after oil peaked at $147 in 2008.

"In terms of timing, Goldman got it (the crash) right this time. Well done," said an oil trader with a major rival bank.

"It (this week's fall) was a move driven by macro funds after U.S. and German data disappointed and (European Central Bank President Jean-Claude) Trichet did not deliver on yet another rate rise," he said.

"With Asian funds having liquidated some of their position today I think we will now see prices stabilising and even if U.S. jobs data is poor this afternoon, I don't think it will turn as horrible as yesterday," he added.

Another major commodities player among banks, Barclays Capital, which also predicted prices could correct but not as steeply as Goldman, said on Friday the current levels already represented a good buying opportunity.

"While further downside from potential weaker macro releases cannot be ruled out, the general trend from here should be higher, rather than lower, in our view," said Amrita Sen.

She added that worries about tight supplies and unrest in the Middle East will outweigh concerns about U.S. gasoline demand destruction or slower Asian demand due to inflation.

Colin O'Shea, head of commodities at Hermes, who helps manage over $2 billion, also said the correction was a good opportunity for investors to get into the market if they missed out on the previous rally.

"Fundamentally, in the energy space and in crude oil, not a lot has actually changed. We have got diminishing spare capacity, globally demand is picking up, we have got some supply-side issues -- so the factors that caused the price rises right throughout 2010 are still there," he said. (Reporting by Dmitry Zhdannikov, additional reporting by Claire Milhench, editing by Anthony Barker)