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Rockhopper raises its estimate of oil in North Falkland basin to 608 million barrels

Monday, August 15th 2011 - 22:04 UTC
Full article 71 comments

Rockhopper Exploration PLC upgraded its estimates of how much oil it could find off the Falkland Islands, boosting hopes that the remote territory in the South Atlantic could become a new oil province. Read full article

Comments

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  • xbarilox

    http://m.ctv.ca/topstories/20110815/oil-spill-scotland-coast-united-kingdom-110815.html#menu

    Aug 16th, 2011 - 05:06 am - Link - Report abuse 0
  • Redhoyt

    Old pipes ... ! Don't worry, the islanders' will be getting new pipes !

    Aug 16th, 2011 - 05:48 am - Link - Report abuse 0
  • BobHodges

    The Falklanders will be the richest people on earth by 2020! They will be able to afford tungsten carbide, gold-plated pipes.

    I love the fact that the Argie-nutters whinge about oil-spills when WE drill, and puff their chests out with Latin-macho pride when they drill in even deeper water a hundred km away closer to their own shore!!!

    At least there's one ecological consolation for them - they didn't find any oil to spill.

    I don't support a football team, I support Rockhopper!! Dave Bodecott is the Wayne Rooney of geology and Pierre Jungles is the Alex Ferguson of E&P!

    There's only ONE Sam Moody!!! One Sam Moody! There's only one Sam Moody!!

    Aug 16th, 2011 - 06:02 am - Link - Report abuse 0
  • xbarilox

    I hope so, because oil companies can ruin the lives of the Falklanders. That would be unforgivable.

    Aug 16th, 2011 - 06:04 am - Link - Report abuse 0
  • Beef

    FI oil will be produced with an FPSO, very different to what is done in the mature parts of the North Sea.

    A new prospect called Kermit. Looks like Marcos is not the only Muppet in the South Atlantic.

    Looks like the Singaporeans have placed the right bet.

    Aug 16th, 2011 - 06:44 am - Link - Report abuse 0
  • geo

    [] - 05.06 am GMT
    [] - 05.48 am GMT
    [] - 06.02 am GMT
    [] - 06.04 am GMT
    [] - 06.44 am GMT

    probably not written from UK !!

    probably written from West USA ....Australia !!

    Aug 16th, 2011 - 10:00 am - Link - Report abuse 0
  • Be serious

    Please remember there is no oil.
    These share price rises are no indication of the extent of the riches to be found around the Falkland Islands.
    However I am bound to say that if oil does exist in commercial quantities then it is only fair that the Islanders and Oil Companies are rewarded for their faith, determination and fortitude.
    But as the Argentinians keep telling us - there is no oil.

    Aug 16th, 2011 - 10:03 am - Link - Report abuse 0
  • Beef

    Geo - do your research pal, the UK is not currently on GMT as we are on BST which is GMT+1. iPhone with morning coffee!

    Aug 16th, 2011 - 10:15 am - Link - Report abuse 0
  • geo

    [] - Beef

    pardon ,you are true !

    the other 4 comments time ??

    Aug 16th, 2011 - 10:36 am - Link - Report abuse 0
  • Beef

    I was only referring to my comment! What other people do with their time is no concern of mine. I am an individualist after all.

    Aug 16th, 2011 - 11:37 am - Link - Report abuse 0
  • Rhaurie-Craughwell

    I note a deafening silence from Think as of late.....

    Aug 16th, 2011 - 11:49 am - Link - Report abuse 0
  • BobHodges

    Ahem - why is posting at 7.02 am not consitent with being in the UK?

    I'm a doctor, and I'd just finished a night shift.........

    Aug 16th, 2011 - 01:16 pm - Link - Report abuse 0
  • geo

    [] - 12 Bob

    you know that some 36 % of medical students and doctors in the
    British National Health Service are of Indian origins !!
    40% of them are of Indian + Pakistani+ Bangladeshi ..!!

    is this a kind of social mutation ??

    Aug 16th, 2011 - 01:42 pm - Link - Report abuse 0
  • Be serious

    13
    Are you some kind of racist mutant??

    Aug 16th, 2011 - 02:34 pm - Link - Report abuse 0
  • Britishbulldog

    1 xbarilox ----- Don't worry if oil is spilt from those nice new gold and silver plated pipes you can scoop it all up when it reaches the Argentina beaches, that's the only way Argentina will get to see any of it. In a few years time the little Islands of the Falklands will be able to buy Argentina and bring some sort of semblance of order to the place.

    8 Beef---- They probably don't know what an iPhone is down in that part of the world

    Aug 16th, 2011 - 05:48 pm - Link - Report abuse 0
  • fantazum2011

    ah yes Britishbulldog, but you forget the fact that the UN is now in the pockets of the multinationals and they are not looking to the Malvinas and its oil but rather their present and future investments in South America...which far outweigh anything the Malvineros can offer.
    tick,tock,tick,tock....time is running out chay.

    Aug 16th, 2011 - 06:22 pm - Link - Report abuse 0
  • Frank

    If they could start shipping oil several months ago of eastern Libya to China I don't think there will be any problems with Falklands oil.
    Geo... posting at 1000z .......... must be unemployed............ so I was correct when I picked him as an Argentine economist the other day.....

    Aug 16th, 2011 - 08:28 pm - Link - Report abuse 0
  • Beef

    Fantasyman - you are deluded as Hipo!

    The multinational big oil companies don't give a crap about Argentina. You have pissed Shell off so much that they are selling and BP got rid of their assets a while back. Hence why you also have energy shortages at times!

    It appears the Singapore gvt care about the Falkland Islands and their oil as they have a significant stake in the exploration and eventual production.

    Tick, tock until I upgrade to the XJ from the S-Type!

    Aug 16th, 2011 - 09:18 pm - Link - Report abuse 0
  • Kiwisarg

    ZZZZZZZZZZZZZZZZZZZZZZZZZZZ!!!!

    Aug 17th, 2011 - 05:36 am - Link - Report abuse 0
  • Beef

    Most intelligent thing you have ever said kiwi!

    Aug 17th, 2011 - 06:02 am - Link - Report abuse 0
  • Frank

    Funny how they run out of puff and stick their heads in the sand when they don't want to hear things...anyone seen El Thicko lately?

    Aug 17th, 2011 - 07:16 am - Link - Report abuse 0
  • lsolde

    @21 Frank,
    l think he's overawed with his new hero Alejandro A.
    Or he may have flown up to Florida to pay homage to the idiot.

    Aug 17th, 2011 - 09:04 am - Link - Report abuse 0
  • Rhaurie-Craughwell

    The many volte faces of Think......

    Jan 2010
    “There is no oil”

    March 2010
    “There might be some oil, but its bad quality”

    May 2010
    “They are lying about the oil find”

    June 2010
    “There is oil but it is not commercially exploitable”

    October 2010
    “Rockflopper is failing”

    Feb 2011
    “RockFlopper has deliberately exaggerated its appraisal”

    March 2011
    “Although Sea lion is commercial, Rockflopper will bankrupt trying to make it so”

    June 2011
    ”Rockflopper's shares are going down, the oil rig isn't moving CONSPIRACY!!!!! they are lying about the appraisal, the oil isn't there its all lies LIES! Bingham said so!!!

    August 2011
    ........................................................

    Aug 17th, 2011 - 09:42 am - Link - Report abuse 0
  • Think

    The constant and true face of Think......................

    Jan 2010
    Think wasn’t posting

    March 2010
    Think wasn’t posting

    May 2010
    Think wasn’t posting

    June 2010
    “There is oil but it is not commercially exploitable”

    October 2010
    “Desire Petroleum is failing” (And so it did…….:-)

    Feb 2011
    “RockFlopper has deliberately exaggerated its appraisal”

    March 2011
    “There is oil but it is not commercially exploitable”

    June 2011
    ”Rockflopper's shares are going down, the oil rig isn't moving Strange!!! they are lying about the appraisal, they are NOT producing a Competent Persons Raport!!! Why???

    August 2011
    Rockflopper is still lying about the amount of oil and it's commerciallity.
    Rockflopper is still NOT producing a Competent Persons Raport!!! Why???

    Aug 17th, 2011 - 03:31 pm - Link - Report abuse 0
  • BobHodges

    Rockhopper is still not producing a competent person's report because:

    1) They haven't finished appraising the extent of Sealion

    2) A CPR costs a million dollars or so, so why get one with only half the data needed to complete it?

    3) They've got enough cash to keep drilling for another 6 months or more at full rate - there's no hurry because they don't need to raise more cash. When they do, the CPR will come in handy.

    Aug 17th, 2011 - 05:02 pm - Link - Report abuse 0
  • fantazum2011

    well chay - look on the bright side: Rockhopper's directors will walk away from all this with a pocketful of gold....just keep on bullshitting and watch those stocks rise guys!
    No better way to make some quick cash than getting listed on the Alternatives.

    Aug 17th, 2011 - 05:17 pm - Link - Report abuse 0
  • Beef

    Think - Have you done any reading. We know the CPR will come in H1 (probably Q1 2012) so why ask why they are not issuing one when they have said they are going to issue on in 2012?

    For a CPR to be issued needs this thing called “data”. I know this thing called “data” confuses you (after all your universities are crap with only 1 in the Shanghai Jiao Tong top 500) but you have to go out and collect it and that takes this other thing called drilling and seismic. At present RKH is doing the data collection and then will had onto RPS to perform the CPR!

    Your post sounded a bit like desperation Think. Have you taken a bang on the head or is British sovereignty in the FI and the successful RKH drilling programme just too much for you?

    At some point think you will have to make your mind up. The sooner you look at the facts and make the logical conclusion the sooner you will look less like a muppet. Kermit anyone, RKH have just found him near sealion!

    ££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££££!!

    Aug 17th, 2011 - 06:14 pm - Link - Report abuse 0
  • geo

    [] - Beef

    we see that the Brits are very dexterous at sea drillings ..
    Mexico Bay....North Sea... next probably S.Atlantic.??....

    http://www.spiegel.de/international/europe/0,1518,780723,00.html

    Aug 17th, 2011 - 06:59 pm - Link - Report abuse 0
  • geo2

    spiegel's access is defective..

    you can access related Axel Bojanowsky' s article
    “” Sheel under fire over silent tactics “” 08/17/2011

    or

    http://www.spiegel.de/international/topic/united_kingdom/

    Aug 17th, 2011 - 07:44 pm - Link - Report abuse 0
  • Beef

    Geo - apart from the fact that Exxon had a majority stake in the recent North Sea spill! Are you confusing USA with UK and perhaps a bit of the Netherlands thrown in for good measure?

    I see the Argies are pretty useless at gaining leverage. It is pleasing to know that British soverignty in the FI gets right up Argie noses though, pretty amusing! Chuckle chuckle!!!!!

    Aug 17th, 2011 - 09:46 pm - Link - Report abuse 0
  • Marcos Alejandro

    It is pleasing to know that British economy is sinking, get the garden house ready again just in case.

    “Britain's economic recovery hopes were dashed today as official figures showed unemployment rose by 38,000 in the three months to June to 2.49m and the number of people working part-time because they could not find full-time jobs surged to a new record high”

    http://www.telegraph.co.uk/finance/jobs/8705999/Part-time-Britain-hits-record-high-as-unemployment-soars.html

    Aug 17th, 2011 - 11:32 pm - Link - Report abuse 0
  • xbarilox

    I do not worry about the islanders, I was thinking about the penguins :( as you can see they're unique. But, I am ready with my spoons just in case some little oil comes to me :) come here oil, come to me baby!!!

    http://www.spiegel.de/images/image-158237-galleryV9-jwzi.jpg

    Aug 17th, 2011 - 11:50 pm - Link - Report abuse 0
  • Marcos Alejandro

    I meant @ 31 garden hose.

    Aug 17th, 2011 - 11:56 pm - Link - Report abuse 0
  • xbarilox

    Which oen is the “before” and which one is the “after”?
    http://www.dailymail.co.uk/debate/article-1116085/JOHN-MACLEOD-The-ugly-truth-Scots-shameful-anti-English-bigotry.html

    Aug 18th, 2011 - 12:28 am - Link - Report abuse 0
  • Redhoyt

    Plenty of jobs going in the Falklands oil boom soon though :-)

    Aug 18th, 2011 - 02:35 am - Link - Report abuse 0
  • Think

    (25) BobHodges

    Reading your previous comments one can deduce that:

    1) You must be a youngish doctor working for the NHS. (An institution I highly respect. Wish we could create something similar in Argentina ((1980 version, not 2011 version though)).
    2) You seem to have a well developed British sense of humour…. I won’t mention the War either…
    3) You are heavily invested in Rockflopper………..

    About Rockflopper and the “missing” CPR:
    It’s not me claiming for a CPR, it is the Market and many, many institutional and private investors……….The “Desire Petroleum” virus is alive and kicking………
    One million dollars is “nothing compared” to the significance of such a report to attract serious investors to the company, not just speculators and shorters….
    Rockflopper is swiftly running out of cash… You know it, the market knows it… The “Desire Petroleum” virus again…………..

    Hoping for the worst for Rockflopper and Co.
    Respectfully yours
    El Think

    Aug 18th, 2011 - 04:06 am - Link - Report abuse 0
  • Rhaurie-Craughwell

    I see the argies have initiated operation “Grasp-at-straws”......

    can they disprove the above otherwise?.....eeeer

    Aug 18th, 2011 - 08:08 am - Link - Report abuse 0
  • geo2

    [] - 30 Beef

    don't forget of the last year's Northern Australia oil disaster
    which covered up by sleight in hand ..!!

    deep sea drilling needs to have different & advanced technologies
    you don't have..

    Aug 18th, 2011 - 10:09 am - Link - Report abuse 0
  • Be serious

    38 Do you have it?

    Aug 18th, 2011 - 03:12 pm - Link - Report abuse 0
  • Marcos Alejandro

    Oooopppsss
    “UK retail sales stagnate, adds to gloom on economy”
    No problem, Urinehopper stocks are rising , are they? (-6.70% so far) :-)))

    http://www.telegraph.co.uk/finance/economics/8708617/UK-retail-sales-stagnate-adds-to-gloom-on-economy.html

    Aug 18th, 2011 - 03:25 pm - Link - Report abuse 0
  • Be serious

    38 Nah....... didn't think so.

    Aug 18th, 2011 - 05:47 pm - Link - Report abuse 0
  • xbarilox

    @ 40 Merval -4,25%, I don't know why are you so happy. Take a look at your country instead of looking at other people's property.

    Aug 18th, 2011 - 07:51 pm - Link - Report abuse 0
  • BobHodges

    Think Old Chap

    I'm not young at all, in fact I'm a fairly senior GP and Forensic Doctor!! I'm fairly heavily invested in Rockhopper, and have done very well so far - because I've 'done my own research'.

    Having a number of degrees myself, turning my hand to study geology in my spare time has been a lot of fun.

    I can assure you that:

    1) Rockhopper has enough money to operate (i.e. Drill) continuously until well into 2012 so they DON'T NEED TO RAISE CASH RIGHT NOW.

    2) As for the 'CPR' - if you were planning to extend your house and improve it before putting it on the market to sell it - would you get the real estate agent to come in and value the property before or after you had spent the money and done the work??

    Every drill that RKH do gives a huge amount of data, and this data adds to the certainty with which their geologists in Perth can 'size' sealion, and the amount of recoverable oil that they will allow to be 'booked' as reserves rather than the current 'prospective resources'.

    In fact, what RKH need is NOT a CPR - its a 'Reserves Report' - this will then allow them to BORROW money to fund development, rather than just placing more shares on the market. Singapore has an interest in this now, and this is probably one of the most easily developed offshore 'giant' fields discovered in the world in the past 10 years - not to deep, high quality, mobile medium gravity crude!!

    Shuttle tanker to Cape Town or Mumbai or Santiago.................the Argentinians will be the only people with their hands in their pockets when the money starts falling from the sky.

    I am a big fan of good Malbec however, so some of the money will find it's way to Mendoza whether CFK likes it or not.

    Aug 18th, 2011 - 09:25 pm - Link - Report abuse 0
  • Think

    (43) Mr. BobHodges

    So senior and still doing night shifts?
    No respect for the elderly GP’s these days :-)

    About Rockflopper:
    Hmmmmm………an “Optimist” and a “Geologist” You must love “Garbled” and “Marlonmonkey”……..
    Not surprisingly, I like “Ace8” and “Jambhala” better…….

    Says it all…. Doesn’t it?

    Aug 18th, 2011 - 11:54 pm - Link - Report abuse 0
  • Beef

    Yep think, says it all! You always bat for the losing side. Actually I think you like losing, it gives you something to feel aggrieved about so you can then be miserable and bitter. Yep you are certainly a Marxist!

    Aug 19th, 2011 - 12:15 am - Link - Report abuse 0
  • Redhoyt

    Well I'm with Think. I hope the share price of Rockhopper tumbles ..... for a while at least. I've got this wad of investment cash you see ........ :-)

    Aug 19th, 2011 - 02:23 am - Link - Report abuse 0
  • Beef

    I hear that “self-pity” and “chip on shoulder” are also with think!

    Aug 19th, 2011 - 06:46 am - Link - Report abuse 0
  • lsolde

    Good idea, Red. l, too have some lazy money just laying around.
    l think l'll make it do some work.

    Aug 19th, 2011 - 08:09 am - Link - Report abuse 0
  • geo

    [] -48

    could - El Think & Personifications Co .- be a Brits agent ?

    Aug 19th, 2011 - 10:06 am - Link - Report abuse 0
  • M_of_FI

    I do quite enjoy Marcos' links to stories regarding the British economy. I see them as ironic considering the reputation Argentina has for defaulting and economic mismanagement. Oh the irony Marcos!

    Aug 19th, 2011 - 07:21 pm - Link - Report abuse 0
  • Islander1

    50- particularily as UK is a lot better place to be economically just now that in USA or the Euro zone!! Marcos how do you explain that the £ has been rising steadily against the US$ and the Euro for some time?

    Aug 19th, 2011 - 08:35 pm - Link - Report abuse 0
  • Marcos Alejandro

    Islander the £ is not rising, US$ and the Euro are sinking a little bit faster than the £.

    M_of_FI Hey I am glad that you enjoy them!

    US and Europe 'dangerously close to recession'
    “The total value of Britain’s biggest companies fell another £13.4bn”

    http://www.telegraph.co.uk/finance/financialcrisis/8712653/US-and-Europe-dangerously-close-to-recession.html

    No wonder so many Brits and Americans are moving down here.

    Aug 19th, 2011 - 10:30 pm - Link - Report abuse 0
  • Frank

    'the £ is not rising, US$ and the Euro are sinking a little bit faster than the £.'

    http://www.xe.com/currencycharts/?from=ARS&to=GBP

    And the RG peso has died in the ARS... in fact it has done the 'Full Belgrano'...

    Aug 20th, 2011 - 12:23 am - Link - Report abuse 0
  • Marcos Alejandro

    No problem Frankie, your fine was collected in US$, 7000 of them.
    Thanks dude.

    Aug 20th, 2011 - 03:34 am - Link - Report abuse 0
  • Filippo

    i am the voice of the average Argentine and I tell you British this -

    WE DO NOT CARE ABOUT YOUR RIGHTS!!!
    WE DO NOT RECONGNISE YOUR RIGHTS!!!

    YOU ARE IN ILLEGAL OCCUPATION OF ARGENTINE TERRITORY!!!
    YOU WILL BE FORCED TO COMPLY!!!

    GRAB HOLD OF THE HEART AND THE MIND WILL FOLLOW. THIS IS OUR PHILOSOPHY. ARGENTINE HAS LONG PROUD HISTORY OF FASCISM AND THIS IS WHAT WILL ALWAYS TRIUMPH WHEN SOCIALISTAS COME TO POWER. WE WILL TAKE OVER LAS MALVINAS AGAIN!!!

    WE DO NOT COMPLY WITH DEMANDS OF UN.
    WE DO NOT COMPLY WITH ORDERS OF EU.

    WE HATE US IMPERIALISM, WHICH IS EXTENSION OF BRITISH QUEENS RULE OF PLANET EARTH!!!

    WE WILL CRUSH YOU LITTLE ISLANDERS. NO ONE WILL CARE!!!

    Aug 20th, 2011 - 02:04 pm - Link - Report abuse 0
  • stick up your junta

    Flip flop

    got to be a argie pretending to be a brit pretending he is a argie

    kansas city shuffle anyone

    Aug 20th, 2011 - 03:46 pm - Link - Report abuse 0
  • xbarilox

    swooping low over the falklands, what the heck!!!

    Aug 20th, 2011 - 05:06 pm - Link - Report abuse 0
  • J.A. Roberts

    I see Filippo has been allowed out again...

    Aug 20th, 2011 - 05:18 pm - Link - Report abuse 0
  • briton

    Well they do reckon that Britain will be a powerful
    Maritime nation again within ten years . mmm
    http://www.dailymail.co.uk/money/markets/article-2026337/CITY-FOCUS-Pirates-high-seas-block-Britain-s-bid-rule-waves.html

    you never know .
    .

    Aug 20th, 2011 - 07:26 pm - Link - Report abuse 0
  • Marcos Alejandro

    59 briton Did you read the comment below that article?

    “What royal navy?we don't have one anymore,remember”
    - Oddy, B'ham

    “They may also stand in the way of hopes that Britannia will rule the waves once again”
    I have to admit that these new pirates learned from the very best.

    Aug 20th, 2011 - 09:55 pm - Link - Report abuse 0
  • jayD

    I say we send in the RAN, RNZN, RCN and RN if those Argie B******s try it on again. And if the yanks want to see how a real navy operate, they're welcome to join in :) the fun. I just can wait to see the entire Argentine Navy take on a real naval force, rather than intimidate a small island nation. Watching all the fascists tin cans sink would be fun.

    Aug 20th, 2011 - 10:40 pm - Link - Report abuse 0
  • Marcos Alejandro

    61 jayD You are a little bit too late, I can almost say that we don't have a navy, we don't need one. You have one I have to say, but part of it is or on the way to a Turkish scrap yard.

    http://www.dailymail.co.uk/news/article-2003564/Libya-War-Royal-Navy-shambles-say-sailors-Admirals-comments.html

    Aug 21st, 2011 - 12:10 am - Link - Report abuse 0
  • Frank

    @54 and elsewhere... I see El Thicko's parrot is out of its cage again....

    Aug 21st, 2011 - 12:22 am - Link - Report abuse 0
  • lsolde

    @55 Filippo,
    Hello, Flippers, increased your dose have they? Why don't you leave the safety of Canada & come down here & “liberate” the Falklands all by your wittle self? You are an idiot, boy.

    Aug 21st, 2011 - 07:29 am - Link - Report abuse 0
  • Be serious

    The Falkland Islands could beat Argentina at Rugby.
    You should of seen those babies cry before the match against Wales. Bet they were at it again after that beating they took. I thought Argentinians were supposed to be macho or is that the Brazilians?

    Aug 21st, 2011 - 11:23 am - Link - Report abuse 0
  • lsolde

    @65 Be Serious,
    THEY think they're macho.

    Aug 21st, 2011 - 12:39 pm - Link - Report abuse 0
  • briton

    a powerful
    Maritime nation again within ten years .
    and yes i did read what it said below,
    but if we are to frow again, then by default the royal navy must grow also, its only a matter of time, either our goverment wakes up, or something will happen, and they will be forced to re-invest in the navy, either way, your chances are getting smaller every day,
    soon even talking with get you knoweare

    Aug 21st, 2011 - 08:28 pm - Link - Report abuse 0
  • Redhoyt

    Oh Dear :-)

    http://falklandsnews.wordpress.com/2011/08/22/spuds/

    Aug 22nd, 2011 - 12:16 pm - Link - Report abuse 0
  • fantazum2011

    Lol Redhoyt -
    up, up the shares do go,
    but the oil alas,
    will never flow.
    And as the directors grab their cash and go
    the oil, the oil,
    will never flow!

    (from Hiram Guido's guide to making easy money on the AIM market)

    Aug 22nd, 2011 - 04:24 pm - Link - Report abuse 0
  • Tigre2000

    Brittish bulldog lol your a donkey mate a typical falkland village idiot,
    keep playing your playstation

    Aug 22nd, 2011 - 05:27 pm - Link - Report abuse 0
  • briton

    as long as the oil is slow in coming, the argies will hip horary.

    But when the oil begins to flow, the argies will be poorly sorry
    For ignorance is surely the better half of stupidity ?

    Aug 22nd, 2011 - 08:20 pm - Link - Report abuse 0

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