Operational Update - Sea Lion

RNS Number : 3190T

Rockhopper Exploration plc

27 September 2010

 



Embargoed: 0700hrs, 27 September 2010

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Operational Update - Sea Lion 1

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, completed operations, on 25 September 2010, to safely plug and abandon the Sea Lion 1 well - the first oil discovery and Contingent Oil Resource in the North Falkland Basin.

Rockhopper has released the Ocean Guardian drilling rig.

The Company is continuing to evaluate the information acquired during its successful drilling and testing of the Sea Lion prospect, in order to plan the next phase in proving the reserves discovered, as well as participating in a number of wells on licences PL003 and PL004 (Rockhopper: 7.5% working interest), which are operated by Desire Petroleum.

Sam Moody, Managing Director of Rockhopper, commented:

"Health, Safety and Environment remain our absolute priority when operating, so I am very grateful to all personnel, both Rockhopper's and its contractors, for their commitment and delivery of safe operations during the drilling of Ernest and testing of Sea Lion."

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 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 Exploration plc www.rockhopperexploration.co.uk

 

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