Falklands’ oil exploration continues with Rockhopper ready to drill second well

Thursday, July 22nd 2010 - 09:02 UTC

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Rockhopper Exploration the only company so far to have announced the discovery of oil in Falklands’ waters is preparing to spud its second well in the North Falkland basin, the company announced in a release. Read full article

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Hoytred
Way to go boys ... but hey, is the Argentine blockade causing you problems? ..... No! :-)
Jul 22nd, 2010 - 12:18 pm - Link - Report abuse 0
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Beef
Here is the plan.

Drill Ernest, find oil (sp rockets) perform successful well test proving commerciality of Ernest (sp rockets); P&A the well. Now move the rig back to Sea Lion and perform another successful well test that proves Sea Lion's commerciality (sp rockets +++) - two such finds makes the basin commercial. Make new share placing at the new sky high share price which gives minimal dilution (sp stable - as it was last time). Use this cash to secure more time with the OG (sp rises again). Argentina rejects the oil finds (nobody gives a toss and sp continues to climb after RKH moves to the main market and becomes an attractive investment to the low to mid risk fund managers).

Just a prediction of what would be the best outcome. Do your own research!
Jul 22nd, 2010 - 10:49 pm - Link - Report abuse 0
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