Finally some common sense on Rockhopper

I was talking to a guy yesterday who knows one of the brokers that did the last Rockhopper placing and he was saying that 14/10-3 was a duster. Now quite rightly I said actually there was live oil and it was right at the northern lobe 8km (5 miles) from sea lion so the COS was always going to be on the low side. To say it was duster was wrong, wrong, wrong. Just too small to be commercial on a standalone basis but it does add to the Sealion recoverables. If a broker was getting it wrong, what does it say!!??
Fortunately the offshore magazine article (link below) on Rockhopper puts things nicely into context that 14-10/3 was a discovery, but small. 14/10-4, the next appraisal well much closer to the Sealion discovery has much better chances of a good hydrocarbon show. When it went below 260p this morning it was crazily cheap and I had to buy more. Have far to many, but sometimes in life there are risks, and there are educated risks. This is the latter, a no brained, with enough cash for 7 more wells. It's up 5 percent now so the markets have now decided the madness must end.

http://www.offshore-mag.com/index/article-display/2367306901/articles/offshore/drilling-completion/latin-america/20110/February/sea-lion_delivers.html