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.

Should get a little more good news tom.

Disappointing to see the none appearance of a RNS this AM, but anyone else feel that a bit of delay is a good sign.
Someone earlier this week posted the opinion that if the sidetrack and coring was not finding or going as far as expected, an earlier RNS would be released, so it surely follows that an extended period over the estimated 7 days could mean that they are drilling further than expected.
As far as I know there have been no drilling delays.
As RKH usually over state time scales, what do those others think re my above comments, especially those with far better understanding of drilling processes than I?
Opinions please!

Greek
I too have limited knowledge of the further testing but, like you (and for the same reasons), think no news is good news. Time will tell!

From Marlon the monkey from iii.....he knows his stuff

Ok let's look at a few numbers:

From the October Update

SLMF on Rockhopper's 100% owned acreage

Low 844mmbs STOOIP
Medium 1297mmbs STOOIP
High 1428mmbs STOOIP

Casper on Rockhopper's 100% owned acreage

High 90mmbs STOOIP

From the AGM Report

B15 on Rockhopper's 100% owned acreage

Medium 130mmbs STOOIP

From the DES/Synergy CPR

SLMF in Area 1

Low 69mmbs STOOIP
Medium 169mmbs STOOIP
High 309mmbs STOOIP

Casper west in Area 1

Low 62mmbs STOOIP
Medium 208mmbs STOOIP
High 435mmbs STOOIP

Shona West in Area 1

Low 62mmbs STOOIP
Medium 208mmbs STOOIP
High 435mmbs STOOIP

Looking at the 10-9 result and taking a pragmatic view, I have come up with some directional numbers:

SLMF on Rockhopper's 100% owned acreage

Low after 10-8 844mmbs STOOIP @ 40% 340mmbs recoverable
Additional proven by 10-9 300mmbs STOOIP @ 35% 105mmbs recoverable
B15 after 10-6 130mmbs STOOIP @ 35% 45.5mmbs recoverable

SLMF on Rockhopper's Area 1 (my interpretation using the 10-9 result)

Additional to be proven by 10-10 300mmbs STOOIP @ 30% 90mmbs recoverable

Casper

Additional proven by 10-9 50mmbs STOOIP @ 35% 17.5 mmbs recovera
Additional to be proven by 10-10 (my interpretation using new OGC/OWC)
208mmbs STOOIP @ 30% 60 mmbs recoverable

Shona Corridor (my interpretation using new OGC/OWC)

Additional to be proven by 10-10 208mmbs STOOIP @ 30% 60 mmbs recoverable

In summary

I believe we already have 505mmbs recoverable, across Sealion B15 and Casper, maybe more like 520mmbs if we include B30-B90. The next well could (>70% chance) add up to 210mmbs additional recoverable; 126mmbs to RKH, 84mmbs to DES.

These numbers do not include Beverley, Catriona or jayne...at 30% COS

THIS IS HUGE

For Halifax as he likes his numbers from iii again ....please chew over the bones Hal as plenty of meat on them.

In summary
I believe we already have 505mmbs recoverable, across Sealion B15 and Casper, maybe more like 520mmbs if we include B30-B90. The next well could (>70% chance) add up to 210mmbs additional recoverable; 126mmbs to RKH, 84mmbs to DES.
These numbers do not include Beverley, Catriona or jayne...at 30% COS
THIS IS HUGE
----------------------------------------------------------------------------------------

So...

A conservative low case of 520 million barrels, recoverable, 100% owned by Rockhopper, already in the bag - and this share is changing hands at the same level as it was back in March, when the bod had just laid claim to 155 million bbls.

If successful, the next two wells (if they decide to drill Area 2), could add dirty great volumes to the 520 million barrel low case.

If the next two wells fail, however, the 520 million barrel, low case, remains intact. Failure of the next two wells will not detract from this number.

On todays market, Brent crude is changing hands for $111 per barrel.

At todays prices, 520mm bbls of Sea Lion crude is worth around 58 billion dollars.

Current market cap values Sea Lions 520 million barrels of oil, in the ground, at $2.30 per barrel.

Producing and selling Sea Lion oil, at 120,000 bbls/day, would see a revenue stream of around $13 million per day, or approximately $4.8 billion annually.

Alternatively, a hypothetical take-over of the company, at $10 per barrel, would see us being bought out at over 11 per share.

Anyone else think there could be room for growth here?

ef. :-)

You'll need one of these Marky

Blimey, could they get anymore on that ship??? lol

Is Pro still not interested , there's no pleasing some people.

Well, according to Pro he was going to make a million pounds out of RKH, but once the going got tough, the tough headed for the door with a loss.

ptholden can i have one for Christmas,Balerboy where you been hiding thought i must of locked you up down my mine......amazing who i have down there.

I'm still here marky never fear, just nothing much to josh about at the mo. Plus work keeping busier than usual at the mo. Keep the mine going for me. :))

Well if you need some cheap coal or clogs you know where to ask.

Used to buy my clogs at the Nack, Seaham and have them nicely polished for 'Grab a Granny' night at the Rex in Whitley Bay - eeeeh that were fun!

Avsec last time i was at the Rex it was a disco in the big hall many moons ago,didnt pull even with my clogs highly polished......got not taste...that was my home town.

Marky - was it you that took my pint of Amber whilst I was dancing with that blonde in '72?

Come on Avsec, I thought you knew Markymar better than that.
He would have taken the blond as well!

Thought i come up from the mine to see if any news yet......"72" hmmm more like Dandelion and burdock with a straw in the bottle from the Bee Hive.

.

I only ventured over that side for the Rex disco so perhaps it could have been your father?
When I was in Shields in the '70s the Marsden Grotto was my watering hole - which would have suited your love of mines (and caves?). There was more than coal in there as I recall...................

More like my elder brother and sister at vally Gardens.

Them days you could get the lift down to the watering hole......i think it re opened a few years a go with a lick of new paint sadley the hole in the rock has gone.

Did you ever venture into Tynemouth......its no where near my mine...i better go and feed the pit ponies clip clop clip clop