Exploration/Drilling Programm
Embargoed: 0700hrs, 20 December 2010
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Exploration/Drilling Programme Update
Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, provides the following update on its exploration and drilling plans.
The Company is pleased to announce it has entered into an agreement to take up two optional drilling slots under the original rig contract between Desire Petroleum plc and Diamond Offshore Drilling, owners of the Ocean Guardian drilling rig. The Company is also in discussions to take up further well slots on the Ocean Guardian.
Rockhopper is in discussions with the Falkland Islands Government regarding the declaration of a Discovery Area which is likely to encompass the southern lobe of the Sea Lion fan where the Sea Lion discovery well, 14/10-2 was drilled earlier during 2010.
Rockhopper's next anticipated well, 14/10-3, is expected to spud during January 2011 and will be an exploration well on the northern lobe of the Sea Lion fan system outside of the proposed Discovery Area, approximately 8km from the Sea Lion discovery well. The well will also target deeper sands, including S2, which the Company has mapped following the Sea Lion oil discovery earlier this year. S2 has a newly-identified reservoir feeder system and a total area currently mapped of 42 square kilometres. The well is located downdip to the main part of the S2 fan and should provide valuable reservoir information. The S2 fan is mapped on the existing Rockhopper 3D seismic and sits entirely within 100% held Rockhopper acreage.
The second well, 14/10-4, is currently planned as an appraisal well, within the proposed Sea Lion Discovery Area on the southern Lobe of the Sea Lion fan system, the timing of which is subject to the order of drilling slots as yet to be determined.
Rockhopper has identified a number of other potential drilling locations which are a combination of appraisal and exploration wells.
The Company is further pleased to announce that the vessel MV Polarcus Nadia ("Nadia") has commenced operations on a new 3D seismic programme to cover licence PL024 (100% Rockhopper) and adjacent areas, which were not previously defined by 3D seismic, as well as participating with Desire Petroleum plc on areas of licences PL003 and PL004, in which Rockhopper has a 7.5% interest. Nadia is expected to complete its survey by the end of April 2011.
Sam Moody, Chief Executive of Rockhopper, commented:
"We are delighted to have secured the use of the Ocean Guardian for a further two wells and are in discussions to secure further drilling slots. We expect to undertake a significant drilling programme during 2011, including a number of appraisal and exploration wells designed to refine our understanding of our northern licences."
Enquiries:
Rockhopper Exploration plc
Sam Moody - Chief Executive
Tel. +44 (0)20 7920 2340 (via M: Communications)
M: Communications
Patrick d'Ancona or Ben Simons
Tel. +44 (0)20 7920 2340
Canaccord Genuity Limited
Charles Berkeley / Henry Fitzgerald-O'Connor
Tel. +44 (0) 20 7050 6500
Notes to Editors
Rockhopper was established in February 2004 with a strategy to invest in and carry out an offshore oil exploration programme to the north of the Falkland Islands. The Company floated on AIM in August 2005 and holds a 100 per cent. interest in four offshore production licences: PL023, PL024, PL032 and PL033 which cover approximately 3,800 sq. km. Rockhopper has also farmed in (7.5% working interest) to licences PL003 and PL004, which are operated by Desire Petroleum. These licences have been granted by the Falkland Islands government.
An extensive work programme has been carried out over a number of years on the licences operated by Rockhopper. This has included 2D and 3D Seismic and Controlled Source Electromagnetic Mapping (CSEM). In February 2010, the Ocean Guardian drilling rig arrived in Falkland waters to carry out a multi-well drilling campaign. Rockhopper drilled an exploration well on its Sea Lion prospect during April and May 2010, the result of which was the first oil discovery and Contingent Oil Resource in the North Falkland Basin. The Sea Lion discovery was successfully tested during September 2010 and was the first oil to flow to surface in Falkland Islands waters. Rockhopper has contracted seismic vessels MV Polarcus Asima and Nadia to carry out a 3D seismic survey, beginning December 2010, over areas of licences PL024, PL032 and PL033 which were not previously defined by 3D, as well as adjacent areas.
Rockhopper Exploration plc www.rockhopperexploration.co.uk
This information is provided by RNS
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