As it stands today, the market capitalisations are:
Desire Petroleum DES £392 million (excluding placing and open offer)
Borders and Southern Petroleum BOR £312 million
Falkland Oil and Gas FOGL £236 million
Rockhopper RKH £139 million
The combined value of these 4 companies now stands at over £1 billion and this is without any results from drilling. Positive news is due in February when the Ocean Guardian rig arrives in the Falklands to start drilling for Desire in the Nortern Basin (where Rockhopper also have rights). Through its farm in with BHP Billiton, news is expected from FOGL on the potential deep water rig which is needed to drill in the Southern basin of the Falklands (where BOR and FOGL have acreage).
Given the hype which was driving these stocks, it was prudent to trim my positions signficantly. FOGL sold at 182p and today bought back at 162p. Also bought into Desire at 125p today and continue to hold position in BOR. The excitement should continue when the Ocean Guardian arrives in February, but have used controlled risk stops on Contracts for Difference (CFD to limit the down side risk.
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