Rockhopper Exploration plc Commencement of Abu Sennan drilling campaign (3299D)
April 26 2017 - 2:01AM
UK Regulatory
TIDMRKH
RNS Number : 3299D
Rockhopper Exploration plc
26 April 2017
26 April 2017
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Commencement of Abu Sennan drilling campaign
Rockhopper Exploration plc (AIM: RKH), the oil and gas company
with key interests in the North Falkland Basin and the Greater
Mediterranean region, is pleased to announce the commencement of
the 2017 drilling campaign on the Abu Sennan Concession in Egypt in
which the Company has a 22% working interest.
Exploration well Al Jahraa SE-2X, situated on the recently
awarded Abu Sennan-5 (Al Jahraa South East) Development Lease, was
spudded on 25 April 2017 by the Operator Kuwait Energy as part of a
two-well drilling campaign.
The well will target the Cretaceous Abu Roash-C reservoir in the
fault block immediately to the south of the Al Jahraa South East
discovery location where, if successful, it could add over 20
mmbbls of STOIIP to the development lease.
The well is anticipated to take approximately 40 days to drill
and evaluate, and in the success case would be immediately
completed as an oil producer.
Following completion of the Al Jahraa SE-2X well, the rig will
move to the Al Jahraa-9 location to drill a development well which
will target the AR-C reservoir at a location deeper than the
current deepest oil penetration at Al Jahraa-4. The aim will be to
demonstrate the connection between the Al Jahraa and Al Jahraa
South East fields through the oil leg.
In addition, the operator has proposed two work-over operations
during Q2 2017.
The outcome of the above programme will inform partner
discussions regarding appropriate activities in the second half of
the year.
Sam Moody, CEO of Rockhopper, commented:
"We are pleased to start this drilling campaign on our Egyptian
acreage and hope it will enable us to build further on our local
production and resource base. We look forward to updating the
market on progress in due course."
For further information, please contact:
Rockhopper Exploration plc
Tel: (via Vigo Communications) - 020 7830 9700
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
Vigo Communications
Tel: 020 7830 9700
Patrick d'Ancona
Ben Simons
Further information
This announcement is for information only and is not intended to
and does not constitute, or form part of any offer to sell or
invitation to purchase or subscribe for any securities, or any
solicitation of any vote or approval in any jurisdiction pursuant
to the Acquisition or otherwise. This announcement does not
constitute a prospectus or a prospectus equivalent document.
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.
Glossary
Mmbls Million barrels
STOIIP Stock-tank oil initially in place
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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