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Wednesday, 19 May 2010

The next Rockhopper

Shares in Rockhopper went up six times after announcing it's oil discovery in the North Falkland basin.
Several other oil exploration companies have just started programmes that could transform their fortunes as well.
Of course this is all highly speculative, the exploratory drilling being but a tiny step in the oil extraction process. I read that 1 in 6 well will produce a worthwhile result. (in the North Sea I believe it is 1:10). Also drilling in the Falklands are Desire and Falkland Oil & Gas.
Other Oil companies worth taking a look at are Serica Energy, Faroe Petroleum and Salamander Energy.
Personally I like BP. The share price has been well & truly bashed to 530p (from a high of around 650p) and the yield is a healthy 6.9%.

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