Falklands Rockhopper oil company shares drop in spite of recent discovery

Thursday, June 3rd 2010 - 06:47 UTC

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Rockhopper Exploration said Wednesday there’s no reason to believe that oil discovered in the Falkland Islands will not comply with quality expectations as originally stated. Read full article

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Beef
gdr. Does being thick come naturally to you or do you have to work at it.

Firstly this event happened to shares in RKH and had nothing to do with DES (the markey will always affect the sp of the sector). Secondly the 10% drop in value was the closing price after a day where the share price dropped up to 75% due to sub-price sells on low volume. This caused a drop which triggered those who had “stops” in place resulting in more selling. The RNS issued by RKH stabilised the market and the sp closed only 10% down. Now the sp is up about 3% so my shares are the same value as they where last week. I am happy with that. The FSA are investigating if there was any market manipulation.

DES's first drill was predominatly for data (which is acquired - in addition to the gas discovery). The share was over bought in the run up and over sold when the results were released. They still have another 6 drills in other prospects so based on what evidence can you say they will not find “oil”? Your made up friend in Columbia?

In RKH we have a confimed oil discovery with a very accpetable API of 26.3. Two colums with one being a 25m play. All we need now is the inital estimates of recoverble hydrocarbons from the drill. A more accurate number will follow after a flow test later in the year. If the find was non-commercial then they would have P&Ad the well.
Jun 03rd, 2010 - 12:20 pm - Link - Report abuse 0
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