Rockhopper Exploration to conduct electromagnetic surveys
Rockhopper Exploration plc ('Rockhopper' or 'the Company') has commissioned
Offshore Hydrocarbon Mapping plc (OHM) to undertake an electromagnetic survey
programme on the Company's 100% held licences in the North Falklands Basin.
Data gathered from electromagnetic surveys provide exploration companies with
information on whether a chosen exploration target has resistive properties
sufficient to indicate the presence, or otherwise, of hydrocarbons before
drilling.
The surveys are due to take place in early 2006 and will increase the Company's
understanding of the prospectivity of the acreage.
Likely targets include, J1, which is a robust 4 way dip closure located in less
than 200 metres of water. The Company is also planning to obtain additional 2D
seismic data over this prospect in the early part of 2006.
Sam Moody, Managing Director commented: 'We are very excited to be moving our
exploration programme forward using this new technique. OHM's recent
announcement confirming the effectiveness of the electromagnetic method in
shallow water was key for us. The Falkland Islands are in a fairly remote
location and any future drilling programme has to be as cost effective and
de-risked as far as possible.
'We already know that J1 is a good structure in relatively shallow water and the
electromagnetic survey combined with additional 2D seismic could result in a
significantly de-risked drillable prospect. We have identified a number of other
structural closures and work is currently progressing on selecting a second
target.
'We believe this OHM survey, combined with our already commissioned 2D survey,
will lead to a significant step forward in our understanding of this acreage by
the end of the first quarter in 2006.'
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