Drilling Update - Liz Well

RNS Number : 6616J

Rockhopper Exploration plc

01 April 2010

 

For immediate release: 1 April 2010

Rockhopper Exploration plc

("Rockhopper")

Drilling Update: Liz 14/19-A Exploration Well

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, notes the announcement by Desire Petroleum PLC (AIM: DES) regarding the Liz 14/19-1 well, in which Rockhopper has a 7.5% working interest:

Desire Petroleum PLC, the operator, has provided a further drilling update on the Liz 14/19-1 Exploration well, where wireline operations are continuing.

From the interpretation of the logs received to date, it appears that the deepest play type is still undrilled and Desire's intention is to drill around a further 200 metres to test this play subject to operational constraints

Wireline logging and sampling have been completed on the lower section of the well, primarily below 3,400 metres where the deeper gas shows were encountered. Petrophysical interpretation indicates that gas pay has been penetrated but that the reservoir quality in this section is poor.

Wireline sampling and pressure recording has still to be carried out on the primary Liz target and a number of other zones where hydrocarbon shows were encountered.

Final completion of the well is expected late next week.

Upon release from Liz, the Ocean Guardian drilling rig will relocate to drill the Sea Lion 14/10-B Exploration well (100% Rockhopper) on the western margin of the North Falkland Basin.

-Ends-

Enquiries:

Rockhopper Exploration plc

Sam Moody - Managing Director

Tel. [phone] (via M: Communications)

M: Communications

Patrick d'Ancona or Ben Simons

Tel. [phone]

Canaccord Adams
Jeffrey Auld/ Elijah Colby/ Henry Fitzgerald O'Connor

Tel. [phone]

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 to licences PL003 and PL004 which are operated by Desire Petroleum in which it holds a 7.5% working interest. These licences have been granted by the Falkland Islands government.

An extensive work programme has been carried out over a number of years the licences operated by Rockhopper. This has including 2D and 3D Seismic and Controlled Source Electromagnetic Mapping (CSEM). Rockhopper intends to drill the Sea Lion and Ernest prospects on its acreage during 2010 in addition to participating in three further wells with Desire. In November 2009 the Company completed an equity placing to raise gross proceeds of £50 million which covers the anticipated costs of these wells, including contingencies. In February 2010 the Ocean Guardian drilling rig arrived in Falklands waters to begin a drilling campaign on each of these prospects during 2010.

Rockhopper Exploration plc www.rockhopperexploration.co.uk 

Review by Qualified Person

This release was reviewed by Dave Bodecott, the Company's exploration director who is a "qualified person" under the rules and policies of AIM. Mr Bodecott 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.

 

END

 

 

DRLLLFLSSSILIII