Drilling Update

RNS Number : 2317R

Rockhopper Exploration plc

18 August 2010

 



For immediate release: 18 August 2010

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Drilling Programme Update

Ernest 26/6-1 Exploration Well

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, provides an update on operations at its 26/6-1 exploration well drilling the Ernest prospect.

The company can confirm that the well has reached a depth of 2240 metres and logging operations have commenced.

Initial logs confirm that no hydrocarbons have been encountered at the well location and that the well is a dry hole.

The well was drilled approximately 120km from the Sea Lion discovery in a previously undrilled part of the basin, and was testing a different play type from that encountered at Sea Lion. The well encountered good quality sands with high porosity and permeability.

The company intends to undertake detailed post-well studies of all data and information gathered from the well once all samples have been returned to the United Kingdom and analysed in a specialist laboratory.

A further announcement will be made once all operations have been completed.

Sam Moody, Managing Director of Rockhopper Exploration, commented: 'The result of Ernest is disappointing, but the well was always designed to investigate an entirely different geological play type from Sea Lion, to which our focus now turns. Once operations are complete at Ernest, our intention, subject to the usual regulatory consents, is to test the Sea Lion discovery and gain as much information from the well as possible as we continue to plan a potential appraisal campaign.'

Enquiries:

Rockhopper Exploration plc

Sam Moody - Managing Director

Tel. [phone] (via M: Communications)

M: Communications

Patrick d'Ancona or Ben Simons

Tel. [phone]

Canaccord Genuity Limited

Robert Finlay / 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 (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 multiwall drilling campaign. Rockhopper drilled an exploration well on its Sea Lion prospect during April and May 2010, the result of which is the first oil discovery and Contingent Oil Resource in the North Falkland Basin.

Rockhopper Exploration plc www.rockhopperexploration.co.uk

 

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