4 Dec 2018 07:00
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
RockRose Energy plc
("RockRose", the "Group" or the "Company")
Production Commences on A18-A5 Well, Netherlands
RockRose Energy, the independent oil and gas company, is pleased to announce that the Petrogas operated A18-A5 well has been successfully drilled and completed on time and within budget and is now on production.
The A18-A5 well targeted Pleistocene aged stacked marine sands, specifically the Q3.2 and Q4 sand units. Production at the A18 Field to date has been from the older Q6A, Q7 and Q8 sand units.
The Q4 reservoir came in as prognosed demonstrating a test rate of 320,000 Nm3/d (12 mmscfd) with the Q3.2 above expectation demonstrating rates of 480,000 Nm3/d (18 mmscfd). This implies an unconstrained comingled production rate of >700 boepd net to RockRose. A18-A5 is constrained at 20 mmscfd due to infrastructure limits of 75mmscfd (13,040 boepd) gross, and therefore the asset will be producing at a platform plateau for considerably longer than anticipated. These constraints give a net rate of 200-250 boepd to RockRose, which underpins production from our Netherlands assets for the next couple of years.
A18-A5 and the ongoing workovers on A12, will bring the AB area back to a facilities constrained plateau of 135 mmscfd gross (3,400 boepd net to RockRose).
RockRose Executive Chairman, Andrew Austin said:
"The result from the A18-A5 well came in above pre-drill expectations and, most importantly was delivered safely, on time and on budget.
Our on-going investment in both our UK and Dutch assets is central to our commitment to grow production and invest for the long term."
End
The person who arranged for the release of this announcement on behalf of the Company was Andrew Austin, Executive Chairman.
Enquiries:
Rockrose Energy plc +44 (0)20 3826 4800
Financial Adviser and Joint Broker:Hannam & Partners (Advisory) LLP
Giles Fitzpatrick / Andrew Chubb +44 (0)20 7907 8500
Joint Broker:
Cantor Fitzgerald
Nick Tulloch / Gregor Paterson +44 (0)131 257 4634
Financial PR:
Celicourt
Mark Antelme / Henry Lerwill +44 (0)20 7520 9261
For further information, please visit the Company's website at www.rockroseenergy.com.