Falklands explorer Rockhopper exploration is preparing to test the Sea Lion oil discovery in the South Atlantic.

Rockhopper Exploration said that the Ernest exploration well in off the Falkland Islands was a dry hole.

North Falklands licence holder Argos Resources Limited has conditionally placed new shares to raise £22 million towards further exploration off the South Atlantic Islands.

Drilling has commenced on the Earnest prospect off the Falklands operator Rockhopper Exploration has reported.

Drilling on the third exploration well in the current campaign has ended as a dry hole after partner Falklands Oil and Gas reported that the Toroa prospect has turned out dry.

Falkland Oil and Gas Limited has issued a holding statement in advance of the result from the Toroa exploration well which is being drilled offshore from the Islands.

South Atlantic offshore explorer Falklands Oil and Gas says it knows of no reason why it has just seen sudden movement in its share price over the last couple of days.

Bahamas exploration company BPC Limited has gained clearance to relocate its headquarters to the Isle of Man from the Falklands Islands.

Successful explorer Rockhopper Exploration is seeking more funds to carry out further exploration work in the South Atlantic hard on the heels of its Sea Lion oil discovery off the Falkland Islands.

The third exploration well to be drilled by the Ocean Guardian during the current Falkland Islands drilling campaign kicked off at the beginning of last week, it has emerged.

With two wells completed off the Falkland Islands there is clear evidence emerging of a new hydrocarbon province in British-controlled water down in the South Atlantic after Rockhopper Exploration published new figures suggesting its Sea Lion oil discovery could be as big as 242 m bbl of oil and possibly much more.

Norway-based  AGR Petroleum Services has singled out web-based data specialist IDS to provide drilling reporting services for operations in the Falkland Islands during the current exploration drilling programme underway in the region.

South Atlantic driller Ocean Guardian is now mobilisingg to drill its third well off the Falkland islands for Falklands Oil and Gas and partner BHP Petroleum on the Toroa prospect after it just completed the Rockhopper Exploration's Sea Lion well.

Falklands explorer Borders and Southern petroleum has signalled the prospect of new drilling soon in deeper water in the South Atlantic by Australian-owned BHP Petroleum.

Rockhopper Exploration has reported the completion of its successful Sea Lion oil discovery well in the North Falklands basin..  

After completing logging on the North Falklands Sea Lion oil discovery operator Rockhopper Exploration has indicated more positive news on the outcome of the testing programme which has been carried out.

Successful explorer Rockhopper Exploration said further logging data on its North Falkands Sea Lion oil discovery indicated that it has high quality oil.

News that Rockhopper has found oil in the North Falklands basin has met with a favourable comment from one City observer.

Shares in Rockhopper Exploration have surged by 50% today on news that the South Atlantic Sea Lion exploration well has been successfully drilled and initial results indicate the first oil discovery in the region.

Rockhopper Exploration has reported the start of drilling on its North Falklands Sea Lion prospect in the South Atlantic.

Rockhopper Exploration which was a partner in the gas discovery in the Falklands Liz prospect said the results from the 14/19-A well have enhanced the exploration prospects for the entire North Falklands Basin.

Gas has been found in the North Falklands Basin after further drilling on the Liz prospect operator Desire Petroleum has reported.

Confirming initial results of the first Falklands Islands exploration well for 12 years, Desire Petroleum said today that the 14/19-1 Liz prospect drilled with the Ocean Guardian in the North Falklands basin had reached a total depth of 3,570 metres (11,709 ft) and that logging was underway.

Shares in Desire Petroleum have tumbled on reports that the Liz prospect well drilled off the North Falklands islands is a dry hole which will severely dent hopes for a new oil province in the South Atlantic.

There has been speculation that Desire Petroleum might be about to make an announcement because the company's share price has risen as it nears the end of drilling on the Liz prospect off the north of the Falkland Islands.

More pressure was being mounted on the British government over the sovereignty of the Falkland Islands as the second day of drilling on the Liz prospect off the north of the islands continued.

Drilling has kicked off on the first Falkland Islands well in the South Atlantic for 12 years with the spudding of the 14/19a Liz prospect well by operator Desire Petroleum operating Transocean's Ocean Guardian semi-submersible in the North Falklands basin.

A representative speaking on behalf of the Falkland Islands government has told Offshore247.com that the latest move by the Argentine government to re-claim sovereignty over the islands will not detract from the forthcoming drilling campaign there.