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.

Filled to spill...................its huge

Seems market slow to rejoice.,.

http://www.rockhopperexploration.co.uk/pdf/sea_lion_post_14-10-4.pdf

This could also mean than further east on RKH's patch,....more oil might be there to find....the odds are : that when oil is found in commercial quantities, more oil is there to be found !....how much is anybody's guess but somewhere out there, another sealion awaits perhaps !.

market says no.

pardon ?....

By the way,....any shorters ?.....

I think some investors may be put off by the Chief Exec's slightly cautionary statement.

3 going to be it, plug well and wait for a couple or three months before return from Kinky which might or might not perform. Out for now with my profit.

StockMarketWire.com
North Falkland Basin oil and gas exploration company Rockhopper Exploration plc said its 14/10-4 appraisal well had encountered a significant reservoir package and hydrocarbon column.

The well was drilled 2.3km from the 14/10-2 discovery well to a total depth of 2801m within the Sea Lion discovery area.

It was the first appraisal well on the Sea Lion feature, designed to investigate the reservoir presence and oil column at a downdip location.

Rockhopper said 33m of net pay had been encountered in a good-quality reservoir with 20% average porosity, proving a thick, high-quality reservoir package, a substantial oil column and recognition of the first oil-water contact in the licence to date.

It believed the results would significantly increase the contingent P90 volume for the oil discovery. The P50 and P10 contingent volumes would be defined as the appraisal programme progressed through the remainder of 2011.

The well will now by plugged and abandoned as planned. The Ocean Guardian rig will then proceed to drill the Ninky prospect, in which Rockhopper has a non-operated 7.5% working interest.

Following completion of the Ninky well, Rockhopper plans to drill a minimum of three further appraisal wells on the Sea Lion feature. It is considering extending the campaign to include additional appraisal and exploration wells.

Rockhopper said it will now start work on development planning for the Sea Lion discovery.

CEO Samuel Moody said, 'Following this positive result, we believe Sea Lion is highly likely to prove commercially viable.

'The well has confirmed our ability to identify good reservoir units on the seismic in our acreage with the sands coming in very close to prognosis.

'We can now continue to appraise the Sea Lion discovery and to explore additional prospectivity within our acreage with added confidence.'

Kim, I don't think any Chief Exec would boast about a result like this as being the best thing since sliced bread. The results are good and he is merely saying that it is highly likely that it will all be commercial. He doesn't have a crystal ball, as we all do, and so he can only state his own views within the bounds of his role as CEO. Any over exuberant statements would (should) land him in deep water!
I personally liked the results especially as my av was 280p!!!
My stop was at 150 in case the well was dry and the price collapsed.
TT

A bit soon Balerboy.....three quarters of an hour into a rns like that on a monday morning ?....give it a few days at least...could easily go past 400p as soon as the quick sellers are out of the way....

Agreed TT. There should be plenty of time to do a bit of trading before the next step though, there is a long way to go yet!

Now there should be a reserves update and perhaps a move to the main market....much more to come from Rockhopper yet !......and the exploration drilling will continue for years....

Can't see why it'll go to 4 for time being....more likely 250p

ORIEL update

"This result is good news following on from the disappointment of the previous well which was targeting a bold step-out to the north. The company has indicated that unsurprisingly P90 volumes will rise on the back of this well (previously were c50mmb) with no update at this stage on revised P50 estimates. Previous guidance was 170-240mmb (includes Lower Fan which we believe was prognosed not to be present at this location) and should be largely underpinned by this result and which is yet to include any volumes for a possible extension to the south where seismic has recently been acquired

A 240mmb commercial discovery would be worth 680p/sh (using US$95/bbl long-run oil prices) and we are increasing our NAV to 580p/sh (from 512p/sh previously) based on Sea Lion risked at 75% and including net cash post this well result"
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Evolution Securities raises Rockhopper Exploration Plc price target

to 450P from 400P; rating buy

Short term profit takers filling their coffers. Another trading bounce to come when the buyers become interested again.

Full to spill.u cant get any more oil in it, its at the top end of my expectations also you have a new discovery found, The market is slow to pick up on this but it will catch up in time and when more detail is given out.

I am even more sure now after this appraisal well we are sitting on 300 to 500 mill barrels, if thats the case then this is a steal at this price.

You can trade this share on the highs and lows but its a must share to hold for a few years, from acorns you get trees!!!!!!

Let's hope that there are lots of acorns then! :o)

from acorns you get well fed pata negra pigs