EIA & Rig Availability Update
Rockhopper Exploration plc
04 June 2007
PRESS RELEASE
4 June 2007
Rockhopper commissions Environmental Impact Assessment and see signs of
improvement in rig market
Rockhopper Exploration plc (Rockhopper) (AIM:RKH) is pleased to announce that it
has appointed RPS Energy (RPS) to undertake an Environmental Impact Assessment
(EIA) over licences PL023 and PL024. The EIA will be conducted in parallel with
Desire Petroleum's EIA over licences PL006 and PL007, resulting in cost savings
for both companies.
The EIA will prepare Rockhopper for the drilling of Prospect Ernest and also
provide background work for any other drilling undertaken in licences PL023 and
PL024. An additional EIA will be carried out over licences PL032 and PL033
following completion of the current 3D seismic processing and interpretation
exercise to prepare for any drilling on that acreage.
Completion of our 3D has brought us closer to drilling and a number of
contractors have indicated increased availability of drilling units to us during
2008 which would be capable of drilling in our water depth and that of our
partner, Desire.
Sam Moody, Managing Director, commented:
'We are very pleased to be working with RPS who have already successfully
produced an EIA for Rockhopper and Desire in licences PL003 and PL004.
We are getting strong indications of easing in the rig market in terms of
availability, though not yet in price, with floating drilling units suitable for
the Falklands due to become available during 2008. While prices remain
relatively high, we do not believe they are prohibitive. With this in mind,
undertaking an EIA at this stage will put us in a position to act quickly when
an appropriate rig becomes available.'
NB: This statement has been approved by the Company's geological staff who
include David Bodecott (Exploration Director), who is a Member of Petroleum
Exploration Society of Great Britain (PESGB) and the American Association of
Petroleum Geologists (AAPG) with over 30 years of experience in petroleum
exploration and management, for the purpose of the Guidance Note for Mining, Oil
and Gas Companies issued by the London Stock Exchange in respect of AIM
companies, which outline standards of disclosure for mineral projects.
For further information, please contact:
Rockhopper Exploration plc www.rockhopperexploration.co.uk
Sam Moody - Managing Director 01722 414 419
Teather & Greenwood Limited
Tom Hulme - Corporate Finance 020 7426 9000
Tanya Clarke - Sales
Aquila Financial Ltd www.aquila-financial.com
Peter Reilly 020 7202 2601
Yvonne Fraser 020 7202 2609
Notes to editors
www.rockhopperexploration.co.uk
The Rockhopper Group started trading in February 2004 to invest in and carry out
an offshore oil exploration programme to the north of the Falkland Islands. The
Group, floated on AIM in August 2005, is currently the largest licence holder in
the North Falkland Basin and has a 100 per cent. interest in four offshore
production licences which cover approximately 5,800 sq. km. These licences have
been granted by the Falkland Islands government.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 7 minutes ago Vanquis Banking Group 20
- 2 hours ago Frasers Group
- 2 hours ago Cavendish Financial
- 2 hours ago Diaceutics
- 2 hours ago AB Dynamics