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.

I see the rumour mill is doing the rounds, good to see the sp blue on a day like this

Get in!!!!! she is massive

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, is pleased to provide an update on the 14/10-7 well.



Net pay 26m (85 feet)

net pay Sea Lion Main Complex (SLMC) 25m

net pay lower sands 1m

Gross reservoir SLMC 35m

Net to gross SLMC 72%

Reservoir quality in SLMC:

Average porosity 22%, maximum 27%

Average Sw 27%

Average permeability 70mD, maximum 230mD

No oil water contact was encountered

Results at upper end of expectations

RKH's only mistake.

They should have called it Walrus, not Sealion.

A Sealion is big, but a Walrus is much bigger.

OK will leave the board to those who will explain these latest results to those of us with a sketchy understanding, although this is obviously BIG.

Yet again, well done Rockhopper.

Like Dell Boy says, " This time next year, we'll be millionares" (well nearly)

Desire will also move on this news as it looks like they have hit the jackpot, Sea Lion is huge ..........good luck all holding its about time we had some luck as been a stinking year.

In today's weak markets 4% rise in the sp is probably good, but confess I was expecting much more! In times gone by this would have rocketed.

Same here, but it did blip up by 10% and then the day traders got going, as expected.

Although annoying, when it goes up/down like the proverbial yoyo, it will be the CPR that will be the next full catalyst.

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mnamreh its a cracking result which is not reflected in the share price.

Capital Markets presentation today so will be intresting to see how that has got on guess they will be buying a FPSO now not leasing.

So one person says it's in the price, another says it's not! I still remain a little surprised by the damp squib, but next two wells (8 & 9) are only appraisal I think, so not much going to affect the sp soon.

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mnarmreh the well they have drilled was to drill at the fringe of Sea Lion which they have only to expect a low net pay that has been blown out the water with a net pay of 85 feet which in my eyes will make a huge difference to the overall mid case to high case numbers I would of thought the news would be filtering through of the size of Sea Lion getting a lot bigger hence I was hoping for the SP to rise with this knowledge but sadly it has not be reflected as of yet.


Peter Bassett, analyst at Westhouse Securities, said: "This is another positive drilling update from Rockhopper, which further derisks existing resource estimates for the SLMC. It also reinforces our view of the stand-alone commerciality of the discovery.

"We retain our view that Rockhopper represents excellent value at current levels. As such, we are maintaining our 'buy' recommendation and target price of 643p."

http://www.rockhopperexploration.co.uk/pdf/cap_markets/RKH_CapMark_Section_02Technical.pdf

Slide 66.....where they thought was the end of SL is not as the found 26m so it carries on may be 2 to 3 km hence makes a huge diffrence to high case numbers.

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Slide 67 in now old news going off drill results today low of 608 mill to high of 1279 mill so a lot bigger than the figures RKH saying at present.

Hi Mnamreh,

I believe they miscalculated the boundary edge because as the RNS states, the well was located close to the northern edge of the fan system in an area of relatively lower seismic amplitudes and thinner reservoir.
From a poster on another site who tends to know what he is on about, it appears that seismic surveys can only show down to a certain depth and thickness, hence anything at the depth of this find is very difficult to read.

Unfathomable were the sp is at present.

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its pretty obvious the market is focussed on the $2billion development cost before first oil in 2016. does anybody have a forecast for the price of oil in 2016?