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.

The Argies might as well be friendly towards the Falklanders because nothing is going to change as far as the sovereign issue is concerned.

yep - lend us a battleship!

meanwhile the dealing books are balanced with almost no further movement since the opening bell

Anybody heard from Pro .. lol

`Shorters` will wait for profit taking to shrink the sp, it always goes that way, good luck to them I say, the days of saying " shorters burn" and such nonesense are gone, its up to each investor to make the market work for them, not to fight it.

Repsols discovery has no relevance to the Falklands!

Chav i have been doing my clog dance down the mine thought i come up and get some fresh air.

aldwickk i think he is still ramping FOGL......fogl wont be drilling till second part of next year.

No, but a discovery effects all.....and BOR are very close to spudding....superb result by Rockhopper today !.

.

More sells than buys.....nuts....sigh !....I'll never understand this market....

RF,

Purely profit taking, which whichever way you look at it, is never a bad thing.
As to myself, hanging on in there for the long play.

Me too.....I am still at a loss on Rockhopper but getting closer to breakeven.....

required field whenever the rig leaves Greenland later this month then it will take at least 60 days before it gets to the Falklands before BOR even get drilling.......months away so far to early people jumping on the bandwagon.

South of the basin is totally different geology to the NFB it maybe as well be in timbuck 2,no oil has been encounterd in the SFB at oil just a great big coal field so huge risk when buying BOR or FOGL.
Not even a CPR from FOGL so its like driving in the dark with out headlights.

Yes good news for the Falklands.

rf..Repsols discovery was in shale and onshore northern Patagonia so has no relevance to the Falklands...surprised that DES sp hasn't risen more on the latest RKH result.

More and more investors are looking for certainty in these very uncertain times, so many are still waiting for the CPR before even contemplating dipping their toes in the water (or should that be oil).
If you look around there are very little investments that can make you any sort of money, even allowing for so called defensive stocks.
I feel that when push comes to shove, investor will have to start taking more risks, so they will have to look at companies such as Rockhopper, who have de-risked so much that it is starting to look more and more like a 'very solid' investment in deed.

Within a few years, will Rockhopper be looked at as a defensive stock?
The way its heading, probably!

It is heading to be as certain, as any stock investment!

FT oil sector watcher comment:
"A very good well result from RKH with 14/10-8 encountering an oil column in the Sea Lion Main Complex as well as a new oil and gas discovery on the separate Casper prospect. The well was located 6 km south west of the discovery well, with the SLMC encountering 36 metres of net oil pay whilst Casper found 10 metres of net oil and 8 metres of net gas pay. Pre-drill the group was saying that Casper had estimated oil in place of 135-194 million barrels, or around 40-60m barrels recoverable at 30%.
Crucially, the group believes that the result of this well should move its estimates for its minimum case oil reserves on Sea Lion up towards its mid case estimate, ie from around 250 million barrels to 390 million barrels. The well will now sidetrack and take coring samples from both SLMC and Casper, which should take a further 7 days. Thereafter the rig will move a further 6 km south west to drill the final appraisal well on Sea Lion, on the southern extremity of the currently mapped SLMC - by definition this is therefore a fairly high risk well. Our fully-funded NAV for RKH is 536p/share, ie more than double the current price.

greekman,

aye its depressing enough having to pay 24 a month & not to have the live FTSE price above the Stockwatch prices, and having to scrat around other pages to find it, but to have to go to a rival to check the latest news is beyond the pale

http://oilbarrel.com/news/rockhopper-exploration-gains-on-news-of-casper-discovery-and-potential-upgrade-to-sea-lion

November 10, 2011

Rockhopper Exploration Gains On News Of Casper Discovery And Potential Upgrade To Sea Lion Shares in Rockhopper Exploration gained 10 per cent in morning trading to stand at 23.25 pence yesterday after the AIM-quoted explorer announced its second discovery in the North Falkland Basin. Although the first discovery, Sea Lion with a low case oil-in-place estimate of 844 million barrels, is a candidate for a stand-alone development, investors will be reassured that these remote waters in the South Atlantic have the capacity to yield further finds, thereby enhancing the economics of any development and making it more material to potential industry partners

The second discovery was made by the 14/10-9 exploration well, which penetrated multiple targets: Casper (an oil and gas discovery), the Sea Lion (a successful appraisal well) and Kermit (water wet). The Caspar prospect yielded 18 metres of total net hydrocarbon pay (9.6 metres of oil, 8.4 metres of gas) in a good quality reservoir with average porosity and permeability. Rockhopper believes the gas cap would enhance oil productivity from Casper; this could also be a good location for a potential gas disposal well in any Sea Lion development.

This is good news for the AIM-quoted company as the previous well, 14/10-8, was also drilled to target the Casper, Sea Lion and Kermit prospects but found all three to be water wet. Rockhopper reckons that well, drilled last month, penetrated a relatively restricted area of the Sea Lion Main Complex which appears to be separated from the rest of the field by a fault.

The 14/10-9 location, however, delivered good news from Casper and Sea Lion although Kermit was again water wet. The Sea Lion appraisal was very positive with chief executive Sam Moody believing it will significantly increase the minimum case area for the field, moving it up towards the previously mapped mid-case scenario. Management estimates previously put the low case at 844 million barrels of oil in place, with a medium case of 1.3 billion barrels and a high case of 1.4 billion barrels.

Rockhopper, which holds the acreage on a 100 per cent basis, has already started mulling development options. It has worked up a development plan on the basis of a recoverable resource of 350 million barrels using a leased FPSO. This wont be cheap development costs to first oil are put at US$2 billion with the company targeting first oil in early 2016, ramping up to output of 120,000 bpd by 2018. The company plans to get to work on Front-End Engineering Design next year, ready for submission to the Falkland Islands Government in Q1 2013.

The 14/10-9 well will now be sidetracked to take cores in both the Casper and Sea Lion formations, after which it will be P&A. The rig will then move some 6.3 km to the southwest to drill in the PL004b licence, which following a recent farm-in agreement is operated by Rockhopper with a 60 per cent interest with fellow AIM company Desire Petroleum holding a 40 per cent interest. This well will target the most southerly extent of the Sea Lion main complex giving ailing Desire Petroleum a free ride into this portion of the only commercial discovery in Falklands waters as well as the Beverley prospect. Another discovery would certainly add real muscle to a development in these waters as well as generating some much needed good news for Desires shareholders who have, to date, suffered a run of dry holes.

Fair bit of profit taking, will it move up later with the market recovery?

http://www.fox-davies.com/media/445122/rkhflashnote10nov2011.pdf