Guendalina sidetrack update

RNS Number : 3193A

Rockhopper Exploration plc

28 September 2015

 

28 September 2015

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Guendalina sidetrack update

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to announce that the sidetrack well at the Guendalina gas field (Eni Operator, Rockhopper 20% Working Interest) has successfully reached it's target depth (TD) at 3,276m measured depth (MD) on schedule and budget. 

Wireline logging has confirmed that all the target levels are gas bearing and have been encountered slightly higher to prognosis in an up-dip position with good reservoir characteristics and with an additional deeper gas level. The well is now being completed as a producer with gas production anticipated to commence in late October at which time a further announcement will be issued. 

Sam Moody, Chief Executive Officer, commented: "This is positive news for Guendalina, and we look forward to increasing production from the field later in the year, which will enhance our already strong cash position."

Ends.

Enquiries

For further information, please contact:

Rockhopper Exploration plc

Tel: (via Vigo Communications) - 020 7016 9571

Sam Moody - Chief Executive

Fiona MacAulay - Chief Operating Officer

Stewart MacDonald - Chief Financial Officer

Canaccord Genuity Limited (NOMAD and Joint Broker)

Tel: [phone]

Henry Fitzgerald-O'Connor

Liberum Capital (Joint Broker)

Tel: [phone]

Clayton Bush

Vigo Communications

Tel: [phone]

Peter Reilly

Patrick d'Ancona

 

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