Eirik Raude Oil Rig Arriving Soon Off the Falklands

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Time to look ahead the Eirik  Raude oil rig is estimated to arrive on February 27th my sources tell me.

The first well to be drilled in the North Falklands Basin only 500ft of water is called Zebedee, which is an extension of the Sea Lion discovered development complex. Clearly marked on both (LSE:RKH) Rockhopper Explorations and (LSE:FOGL) Falkland Oil & Gas website presentations i suggest to you look them up.

The last well drilled in the southern Sea Lion complex was 14/15 discovery, which showed limited oil water contact. This is extremly important proving the oil has no barriers and moved into Zebedee complex, through proven oil rich sands  Sea Lion and Casper already discovered both onlap Zebedee multi stacked well.  With the major zone having a 52% cos. This is not the same as a 50/50 coin flip in laymans terms these CPRs are done on a conservative basis, most exploration wells are sub 15% cos.

Let me give you an example 52% cos was around the same level as Hurricane Energy North Sea drill in 2014 and look what happend next ? or 60% cos was the Kraken field with Nautical was a bit higher due to the fact it was an apprasial and flowed before in the North sea 2012. I do not think many understand what a high cos Zebedee is for a low risk exploration well.

Thats not my words by the way take a look at (LSE:PMO) Premier Oil presentations Zebedee is down in writing as low risk.

One other point (LSE:RKH) Rockhopper Exploration has two major low risk wells both to be drilled in H1 2015.  Chatham 50% cos on SL20 is a multi stacked well underneath Sea Lion complex. Shell drilled the corner in 1998 and produced live oil which increases a double derisk. With the aim to prove up Sea lion numbers and proving a limited gas cap also increasing Sea Lion development P50.  So you have two CPR  50% cos plus wells or double your money.

While (LSE:FOGL) Falkland Oil & Gas is the leveraged play on low risk Zebedee worth a larger interest 40% on smaller market cap.

So the time has come for each person to choose what they believe in and invest. I know what my choice will be.

More information on (LSE:RKH) Rockhopper Exploration & (LSE:FOGL) Falkland Oil & Gas can be heard by me on Thursday 12th Feb 2015 ADVFN Justin Waite Show or Doc Holiday Falklands Specials by tuning into to my blog http://www.chrisoil.blogspot.co.uk  including in depth articles on both companies mentioned.

If you are interested in Advfn they have excellent data and level 2 worth registering below to gain more knowledge about the Falklands campign but hurry or you will miss out again.

Until the next time more ramblings from the castle can be seen @chrisoil







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