Last checked at 23 Nov 2015 07:00
23 November 2015
Rockhopper Exploration plc
"Rockhopper" or the "Company"
Isobel - 2 Well Spud
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and Greater Mediterranean region, announces that the 14/20-2 'Isobel - 2' well (the "Well") was spudded, by Premier Oil Plc as operator, at 13.00 local time on 21 November 2015.
The Well is located on licence PL004a in which Rockhopper has a 24% working interest and is an exploration well on the Isobel/Elaine fan complex.
The Well, which will be a re-drill of the Isobel Deep formation at that reservoir level will also intercept four other fans within the complex comprising Irene, Doreen Elaine South and Isobel. The Well is located approximately 4.2km from the Isobel Deep well (14/20-1), which penetrated the first 24m of the Isobel Deep reservoir but failed to reach Total Depth owing to operational issues in May of this year.
A further release will be made once drilling operations are completed with results anticipated in January 2016.
Sam Moody, CEO, commented: "The second well on the Isobel/Elaine complex represents an exciting chance to significantly increase the volume of proven oil in the basin. Not only does it give us another opportunity to explore the Isobel Deep fan, but also a number of further fan bodies in the Isobel area which have never previously been drilled."
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: 020 7523 8000
Henry Fitzgerald-O'Connor
Liberum Capital (Joint Broker)
Tel: 020 3100 2227
Clayton Bush
Vigo Communications
Tel: 020 7016 9571
Peter Reilly
Patrick d'Ancona
Note regarding Rockhopper oil and gas disclosure
This announcement has been approved by Rockhopper's geological staff who include Fiona MacAulay (Chief Operating Officer), who is a Fellow of the Geological Society of London and a Member of the Petroleum Exploration Society of Great Britain and American Association of Petroleum Geologists with over 25 years of experience in petroleum exploration and management, and who is the qualified person as defined in the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in respect of AIM companies. In compiling its resource estimates, Rockhopper has used the definitions and guidelines as set forth in the 2007 Petroleum Resources Management System approved by the Society of Petroleum Engineers.