Tom Winnifrith Bearcast: Shame on PWC & Numis, Hat tip Jim Mellon and ouzo for a vindicated Lucian Miers
It was only a month ago I commented on Rockhopper Exploration (RKH) and speculated on some of the matters surrounding the SeaLion development. Several developments have occurred since which have reconfirmed my positive stance.
So often I have heard mention of the Falkland basin and it being written off. With much promise over many years, but little tangible return so far, I can understand much of the negativity. Many oil assets takes far long than hoped to see projects move forward to production, and that has certainly been the case for Rockhopper Exploration’s (RKH) Sealion project as Gary Newman noted last December, but I can see light at the end of the tunnel.
Rockhopper Exploration (RKH) was one of the darlings of AIM back in 2010/11 and was a big hit with investors when it first discovered and appraised the Sealion field in the Falklands, but since then interest has waned.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
Oil still has a long way to go before it is at a healthy level for many oil companies, but the recent rise back above $50 a barrel certainly seems to be creating some interest in the sector, at least for the time being.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Entertainment One (ETO), Premier Oil PMO) and Rockhopper (RKH) setting share price targets for all three stocks.
The market is clearly unimpressed with Rockhopper Exploration’s (RKH) acquisition today. The company’s share price has fallen to 6.15% to 57.25p, last seen. Perhaps investors are concerned to see the $11.5million drop in Rockhopper’s cash pile, perhaps they aren’t overly enamoured with an entry into Egypt or perhaps this is just simply a reflection of the general distaste for all things oil. Whatever the case, on a fundamental basis, today’s news looks attractive. That is so long at the crazies don’t sweep to power in Egypt!
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at Character Group (CCT), Haydale Graphene (HAYD), Rockhopper Exploration (RKH).
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at Drax (DRX), Interquest (ITQ), Rockhopper Exploration (RKH)
The Falklands oil companies were once a favourite amongst private investors, but recent good news has only had a muted response. Back in 2010 companies such as Rockhopper (RKH) and Falkland Oil and Gas (FOGL) saw some crazy rises in share price and valuation of the company via its market capitalisation.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at Rockhopper Exploration, Telit Communications, Velocys.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the shorted AIM shares (by net short position %) and if this position has increased (red), reduced (green) or remained unchanged (black) since a previous analysis HERE…
The Falklands drilling campaign is about to start for Rockhopper Exploration (RKH) and for Falklands Oil & Gas (FOGL). Location maps show that the Eirik Raude rig was travelling on Friday afternoon around the Ivory Coast.
An article on Rockhopper (RKH) implying delays in drilling in the Falklands came out in the Financial Times last week. It is wrong. I am sure that CEO Tony Durrant never thought his thoughts would be garbled by journalists in this way.
After its interim update the other day Rockhopper Exploration (RKH) has to be my top share tip of the year for 2015.
I sometimes wonder if investors really read through issued RNS statements. Today’s interims from Rockhopper Exploration (RKH) are excellent and demonstrate why its only one of two choices in the oil sector I can recommend at the present time.
This article is difficult to write due to the unexpected nature of what happened at the recent OPEC meeting which has caused the oil price to tank by 40%. Should we panic?
It’s always good when your broker rings you up asking what do you want me to do with Rockhopper as there are so many buyers on the books. Simple buy more.
It has been some time since I reviewed the prospects of the two main companies on the Falklands Oil scene, Rockhopper Exploration (RKH), and Falkland Oil & Gas (FOGL) where, in both cases, the future looks bright. And so I revisit the two stars but also the two dogs of this stable, Borders & Southern Petroleum (BOR) and Argos Resources (ARG).
Rockhopper Exploration (RKH) looks a great buy at the current level, both long and shorter term. The current share price of around 87p is a far cry from when it rocketed to over £5 following the discovery and successful flow test of oil from its Sea Lion license in the Falkland Islands back in 2010.
In my last buy recommendation HERE I highlighted the upcoming 21 August Premier Oil (PMO) presentation as a catalyst for a re-rating of Rockhopper Exploration (RKH) and it did not disappoint me
As you will be aware I have been bearish about Rockhopper Exploration (RKH) for fundamental reasons, notably its merger with Mediterranean Oil & Gas. But with the shares at a new low of 87p it is time for a volte face. I have been right to be bearish so far. I am now turning bull and call the shares as a buy with a 220p target and here is why.
After Thursday’s Premier Oil (PMO) operational update mentioned no feed agreement, much to everyone’s surprise (RKH) Rockhopper Exploration (RKH) served up an RNS on Friday and hey presto we had one! But that does not change my stance. Rockhopper is still a sell and so too is the company it is buying Mediterranean Oil & Gas (MOG). And here is why.
From Premier Oil (PMO) today we have the long awaited RNS – it is a damp squib as far as Rockhopper (RKH) goes. There is no feed agreement as yet although it is apparently been imminent for a couple of months.
Following the hype and hysterical buying of shares in Rockhopper (RKH) on the back of the 12% COS duster served up by Mediterranean Oil & Gas (MOG) last week – the bear cases as I outlined HERE remains intact. In fact it gets stronger as I shall now explain.
Madness has returned to the Falklands. Shares in Rockhopper (RKH) have soared on a day when Mediterranean Oil & Gas (which it basically owns) has announced a duster offshore Malta. And that makes Rockhopper more attractive?
Following the recent price action in AM listed Rockhopper (RKH) recently I have called this as a short.
This morning’s announcement by Rockhopper Exploration (RKH), to take over Mediterranean Oil & Gas (MOG), is a very interesting move. Shareholders in Rockhopper had readied themselves to sit back and wait for the commercialisation of the Sea Lion field, north of the Falklands Islands, hopefully by 2018. Meanwhile, shareholders in Mediterranean, flush with the recent legal victory over Leni Gas & Oil (LGO), still had a nervous wait on the outcome of the soon to spud Hagar Qim exploration well, off the coast of Malta. Today’s deal delivers a significant shake-up to the status quo of both companies and could present a buying opportunity.
Three weeks ago, I wrote the first of a two part series articles looking at the diverging fortunes of two oil companies, Tower Resources (TRP) and Rockhopper (RKH). Life then got a bit in the way and it’s taken me longer than I hoped to write this second piece. In the first article, I argued that Tower Resources looked highly overvalued. This drew the ire of a number of Tower’s shareholders across social media, but the subsequent placement at 3.5p blew away these objections. Today, I’m back to Rockhopper and this has become an oddly difficult company to write about.
If I was looking for a share to buy and hold for the long term that offered great risk versus reward, then Rockhopper (RKH) would be near the top of the list.
The recovery for shares of Rockhopper Exploration (RKH) since the sharp August bear trap below 120p has been something of a three steps up / two steps down affair, but the overall pattern here has been constructive.
By rights it really should have been the case that shares of Rockhopper Exploration (RKH)were able to build on an impressive October spike through the 200 day moving average now at 137p.
If you had to use just one charting signal I think it would be the 200 day moving average. A case in point is Falklands oil hopeful Rockhopper Exploration (RKH) – shares in which now trade at 144p: but are heading higher.
Our very own penny stock resources guru Doc Holiday has challenged our friends at Mining maven to a share tipping contest. Today is day two. C’mon Doc:
Commissioned researcher Edison has published a detailed report on all of the companies seeking oil in the waters around the Falkland Islands a sub sector that has served up more spills than thrills for investors in recent times.
As luck would have it we have the share price of Rockhopper currently running neck and neck with a company close to my heart – Gulf Keystone (GKP), with both at 130p.
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