Rockhopper Looking good .

cruising

Sea Lion

I know I said I probably wouldn’t be able to blog this week on any specific news that filters through. However there’s an awful lot of interest in Rockhopper’s 14/10-4 appraisal well spudded on 19 February 2011. It’s the first appraisal well to be drilled on the Sea Lion feature which is 100% owned and operated by Rockhopper.

And as you all know I am not a fan of the Falklands oil mania that usually breaks out every now and then. But of all the companys currently involved in the Falklands Rockyhopper are the most viable and successful.

I’ve been speaking to many contacts re’ this latest drill and the news is that the RKH board are “quietly confident of a succesful drill ” Now whether that equates to further oil in place in the appraisal well is open to debate. The well is located 2.3km away from the Sea Lion discovery in the southern lobe of the Sea Lion fan system.

14/10-4 is designed to investigate reservoir and hydrocarbon columns downdip of the Sea Lion 14/10-2 discovery well. The planned Target Depth of circa 3,000 metres will investigate the possibility of deeper sands than those encountered in the Sea Lion discovery well.The appraisal well is located 2.3km away from the Sea Lion discovery well, in the southern lobe of the Sea Lion fan system. 14/10-4 is designed to investigate reservoir and hydrocarbon columns downdip of the Sea Lion 14/10-2 discovery well. The planned Target Depth of circa 3,000 metres will investigate the possibility of deeper sands than those encountered in the Sea Lion discovery well.

The drill has been progressing “very smoothly” and the whisper is that the feedback from operations/rig to the company has so far been ALL positive! If I was to be a betting man then I’d say that the chance of success here is far higher than Sam Moody/company would have us believe.

The recent RNS announced that RKH had entered into an assignment agreement to secure three additional well slots on the Ocean Guardian drilling rig. Rockhopper intends to utilise these  slots after Desire Petroleum completes drilling operations on its next well, which follows the appraisal well currently being drilled by Rockhopper. Rockhopper then went on to announce the new 3D seismic data to the south of the Sea Lion discovery well, on licence PL032, had been completed. The Company intends to fast track the processing of this data. It is anticipated that the resulting processed data will become available to the Company during July 2011.

Now here’s a pointer for investors; of all the companys out there RKH are seen by the market as the most likely of the Falkland oil explorers to bring home the bacon. Why? Well it’s all down to their approach. RKH have approached each drill with an ever-increasing understanding of the Basin. They have done their homework! And they are continuing to research their oil plays even after the drills this gives them a deeper understanding of what is beneath and how to map out the oil system from the ever burgeoning seismic data.

“Our understanding of the basin has advanced following the Sea Lion discovery, and will be further enhanced by our current appraisal operations, together with new seismic data. This information will be valuable in identifying our forward drilling programme.”

They are approx’ two thirds of the way through the current appraisal well which is only a mile or so away from the Sea Lion discovery. There’ll be no dust here ! Hydrocarbon shows will be encountered it’s the quantity and commerciality of those shows that is currently awaited.  Fingers crossed!

My opinion. The sp will spike as news of hydrocarbon shows begins to leak next week.

Viva!

Daniel


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  1. RougeTrader says:

    i like the cut of your gib Dan

  2. rick says:

    What about mta news Dan and results? you are the only guy who knows whats happening with mta…..When you post on mta we all listen

  3. Sambo. says:

    Next week for results?

    Thank goodness, SP is appallingly low thanks to nervy PI’s.

    heres to seeing 260+ before we hear news.

  4. 13thMonkey says:

    Thanks Dan, always good to hear about RKH- they’re the guys that started my whole investing adventure, and to be fair for the most part they alwyas report on time (take note, MTA…), and with clear information.

    I might top up.

  5. OILBUG says:

    Thanks Dan

    as always keep us informed of the progress !!!!!!!!!!!!

    all the best

    ps. sorry to keep asking you but their are a lot of good people in RKH

  6. Rosalimacat says:

    OEX. Is killing me. Any help!!!
    Thanks Steve.

  7. bren says:

    Cheers dan, some good news amongst all the chaos would.be nice!!

  8. B1GGZ says:

    I hope DES jumps on the back of RKH, as I have a £1.10 average on that, and anything near to that would be great.

    Also whats happened with RRL, drifted a fair bit, profit taking maybe, but do you reckon its found its resistance at 18p now ?

  9. BrianBrian2 says:

    Dan, put an early glowing blogg out tomorrow for any one of these. Red Rock, Matra software or Range and lets have some fun. Too risky for me to back RKH just now but keep sniffing, I think many of us took a beating this last few weeks, so what we need now is some incentive for a large percentage of us to back one worthy share for a quick fix.
    Regards Brian

    • 13thMonkey says:

      Brian, are you some kind of idiot? Dan can’t post in response to a request for a post, as that could be conceived as rigging the market, as he does indeed seem to have an effect when he posts on the smaller companies in particular. In fact, if he had posted by coincidence on one of those companies without having read your comment, he could have been in for all sorts of allegations.

      Every single time he says invest for the right reasons, and here we have muppets like you that could potentially do serious damage.

      Is it too much to ask for this guy to be banned, or at least warned strongly?

  10. Matra Petroleum, have they found oil or what, it would be nice to know how many barrels/ day

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