Drilling Programme Update

RNS Number : 0250E

Rockhopper Exploration plc

14 December 2009

 

Embargoed: 0700hrs, 14 December 2009

Rockhopper Exploration

("Rockhopper" or the "Company")

Drilling Programme Update

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, is pleased to announce that it has submitted the Environmental Impact Statement ("EIS") Addendum, which is required for the planned drilling programme anticipated to commence in Q1 2010, to the Falkland Island Government for its approval. The update includes details of the Ocean Guardian drilling rig which will be used by Rockhopper and its partners during 2010.
 
It is anticipated that the updated EIS will receive formal approval shortly.

A copy of the EIS Addendum will be posted on the Rockhopper website in due course.

For further information, please contact: 

Rockhopper Exploration

Sam Moody - Managing Director

Tel. [phone]

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 is currently the largest licence holder in the North Falkland Basin with 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 PL03 and PL04 which are operated by Desire Petroleum in which it holds a 7.5% Promoted Interest. These licences have been granted by the Falkland Islands government.

An extensive work programme has been carried out over a number of years on all of the licences in which Rockhopper has an interest. This has including 2D and 3D Seismic and Controlled Source Electromagnetic Mapping (CSEM). A number of well prospects have been identified, including Sea Lion and Ernest (on 100% owned Rockhopper licences) and Liz, Ann and Ninky (on Desire Petroleum licenses in which Rockhopper holds a 7.5% Promoted Interest). 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. The Ocean Guardian Drilling rig has been contracted to carry out a drilling campaign on each of these prospects during 2010. 

Rockhopper Exploration plc www.rockhopperexploration.co.uk 

 

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