Last checked at 2 Feb 2015 07:00
2 February 2015
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Mobilisation of drilling rig
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 drilling unit Eirik Raude has begun its mobilisation to the North Falkland Basin ("NFB") from West Africa.
The rig is currently anticipated to be on hire in the NFB in the first week of March when it will commence the 6 well 2015 Falklands drilling campaign. Rockhopper will participate in the drilling of four exploration prospects, Zebedee, Isobel, Jayne East, Chatham, all of which are located in the NFB. The drilling order is still being finalised but the companies are considering a modification to the drilling order that would result in all 4 NFB wells being drilled consecutively before the rig moves to the Southern Basin. The first well is currently anticipated to be Zebedee (Rockhopper 24% working interest).
After taking account of the various exploration carries, Rockhopper estimates the total net cost of its participation in the four wells to be approximately $25 million and the Pmean total recoverable resource being targeted in the campaign to be over 500mmbbls (160mmbbls net to Rockhopper).
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