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.

if you were older [ over 60 ] you would remember The Gnomes of Zurich.

Cynic

Was it Harold Wilson who called them that ?

Switzerland (Gnomes of Zurich) ..... if i lived abroad, i suppose France, but fom a tax point of view, it is probably no better than UK ..... if tax-free, then I suppose Channel Islands as one can escape elsewhere very easily

How about the Isle of Man?

not for me

Aldwick - yep - Harold it was.

From a cost of living point of view the channel islands and the isle of Man are to expensive. It must be cheaper to buy a house in most part's of the uk then those two islands.

Fox Davies buy note just out

http://www.fox-davies.com/media/412543/fdcrockhopperjul42011.pdf

Does anybody have a "ballpark" cost number for bringing Sea Lion to production?

Rockhopper's Sea Lion momentum
Created: 4 July 2011 Written by: Mark Robinson

http://www.investorschronicle.co.uk/Companies/ByEvent/Results/Analysis/article/20110704/4705b268-a3e0-11e0-9236-00144f2af8e8/Rockhoppers-Sea-Lion-momentum.jsp

Rockhopper Exploration, one of five UK companies looking to kick-start the Falklands Islands' oil and gas industry, has engaged in an unparalleled level of activity at its Sea Lion field over the past year, and is rapidly reaching the point at which it will be able to produce a definitive commercial appraisal of the prospect.

In the past 12 months, Rockhopper has achieved positive results on its first two appraisal wells; one of which displayed commercially viable flow rates, according to management. Drilling is due to commence shortly at the next well in the programme, located to the west of the discovery, which, if successful, promises to increase Rockhopper's low-end recoverable estimate of 155m barrels of oil.

The Aim-traded explorer's understanding of the geology of the Sea Lion field will also be enhanced by imminent interpretation of the data from its recently acquired 3D seismic programme.
Rockhopper has already undertaken measures to assess the various engineering and logistical challenges it will encounter when commercialising the Sea Lion field, which, along with the aforementioned appraisal programme, will form the basis of the field development plan that will be submitted to the Falkland Islands government by April 2013.

ROCKHOPPER EXPLORATION (RKH)
ORD PRICE: 264p MARKET VALUE: 682m
TOUCH: 264-265p 12-MONTH HIGH: 549p LOW: 202p
DIVIDEND YIELD: nil PE RATIO: na
NET ASSET VALUE: 150 NET DEBT: $269m
Year to 31 Mar Turnover ($m) Pre-tax profit ($m) Earnings per share () Dividend per share (p)
2007 nil -1.41 -1.97 nil
2008 nil -1.47 -1.95 nil
2009 nil -5.14 -6.45 nil
2010 nil -7.70 -6.65 nil
2011 nil -87.19 -40.58 nil
% change - - - -
1=$1.60
Guide to the terms used in IC results tables.
More analysis of company results
IC VIEW:
GoodValue
While Rockhopper has sufficient cash to complete the appraisal programme, the move towards full commercialisation will necessitate further fund-raising. Nevertheless, these latest returns indicate that the Sea Lion prospect is moving steadily towards fruition. Good value.
--------------------------------------------------------------------------------

marky thanks but it doesn't answer the question.

http://www.pennenergy.com/index/petroleum/display/5743626074/articles/offshore/field-development/latin-america0/2011/july/sea-lion_production.html

Sea Lion production concepts under review
Offshore staff

SALISBURY, UK Rockhopper is looking at some form of floating platform as the likeliest option to produce its Sea Lion oil and gas discovery offshore the Falkland Islands. But the company wants to complete delineation of the field before progressing to the front-end engineering and design (FEED) stage.


Chairman Dr Pierre Jungels says the first two appraisal wells, following last years discovery, both flow tested at commercial rates. The next well, 14/10-6, will be west of the discovery and, if successful, should bolster the low case scenario of 155 MMbbl recoverable.


As drilling progresses, each result influences the number and location of subsequent wells, but Rockhoppers understanding of the field is improving and will be incorporated into static and dynamic reservoir models required for an updated competent persons report and a development plan.


The company has appointed a full-time development manager who already has studied the logistical and engineering factors for an offshore development in this remote area.


CEO Sam Moody says the most likely scenario will involve an FPSO or TLP with a floating storage unit (FSU), although all options are still being considered. Once concept selection work and drilling are completed, the company will define the FEED and prepare the field development plan, which must be submitted to the Falkland Island government by April 2013 (three years from the spud date of the discovery well).


Engels adds that although Rockhopper has the funds to complete the Sea Lion field appraisal program, moving to development would require financing on a larger scale, via industry participants, reserve based lenders, and the equity market. This is a new basin, he points out, and therefore expects the process to take longer than in a mature region.


Rockhopper also has participated in two recent seismic acquisition campaigns covering 4,261 sq km (1,645 sq mi) of the North Falkland basin, co-financed by Argos Resources and Desire Petroleum, and employing Polarcus Asima and Nadia acquisition vessels.


Around 1,266 sq km (489 sq mi) was over Rockhoppers operated acreage and 1,455 sq km (562 sq mi) over its farm-in acreage. Of main interest are the data compiled within license PL032 over the southern extension of the Sea Lion discovery.Processing has been fasttracked so that the data can be ready for interpretation this summer.


The remaining fully processed data should be available for interpretation by the end of September, and will shed new light over the northern extension of the Johnson contingent gas resource.

marky can we assume from the above that if funds are raised to develop Sea Lion production would not start before 2015?

given that 2/3 years was deemed exceptionally short - it was either TLW or AFR, but I forget which - I would have thought 2015 (4/5 years from discovery) to be not unreasonable

It is interesting to note a slight change of direction with RKH.

They started life as an exploration company; they explored and found what they were looking for. That has given them by far and away the greatest advantage in the NFB.

However we now hear more and more about production and field development. I appreciate it is always difficult to say where one process stops and the next continues but I, perhaps mistakenly, thought that when they knew the scope of this particular asset they would be in take over talks with a global producer for the production process. That was where I thought the sp would be so good as to call 'time' on what has been a long but profitable ride.

It appears that if they go into the production game then I shall have to wait much longer

Hal if they had skates on could be within 2014+ also depends if they get a partner with production experience also with money in hand could affect the timing.

RKH must have companies wanting to partner them maybe a few more appraisal well drilled someone might show there hand the board have already called Sea Lion commercial so we are awaiting the official line with the CPR report.

very disappointing

Someone got out of bed the wrong way.

BHP officials were aboard the OG during the flow rate test of Sea Lion...intresting times.

That is interesting! However had it been BP then we might have seen more favourable activity this morning!

you mean no repetition of the daily `claret` we see?