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Drilling update - 14/20-2 (Isobel-2 Re-drill)
Drilling update - 14/20-2 (Isobel-2 Re-drill).
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 3720L Rockhopper Exploration plc 11 January 2016 \n\n11 January 2016\n \nRockhopper Exploration plc\n \n(\"Rockhopper\" or the \"Company\")\n \nDrilling update - 14/20-2 (Isobel-2 Re-drill)\n \nOil Discovery\n \nRockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and Greater Mediterranean region, is pleased to provide the following update on exploration well 14/20-2, Isobel 2 Re-drill (the \"Well\").\n \nHighlights\n· Net oil pay of 27m \n· No Oil Water Contact or gas encountered\n· Oil discovery confirmed at Isobel Deep\n· Additional oil bearing F3 reservoirs \n \nThe Well is located on licence PL004a in which Rockhopper has a 24% working interest which will increase to 64% following completion of the merger with Falkland Oil & Gas (anticipated to occur on the 18 January 2016). \n \nThe Company can confirm that the Isobel Deep reservoir has been successfully re-drilled and that the Well reached a total depth of 3014m below sea level, in a location some 4km from the Isobel Deep discovery well. The location of the Well was also in a position that intercepted the edges of a number of additional fans within the Isobel / Elaine complex.\n \nThe Company is delighted to announce that the Well encountered a total of five oil bearing fan packages of the F3 system, with net pay of 27m recorded within the Isobel Deep, Isobel and Emily reservoirs. \n \nAdditionally, whilst sand with oil shows was recorded in the Elaine South and Irene fans, reservoir quality was low (as had been anticipated) given the nature of the location at the very edge of the fan bodies. The Company anticipates that better reservoir can be found in the main bodies of those fans.\n \nThe Well did not encounter any gas nor did it penetrate an Oil Water Contact within any of the sands in this location, where the Isobel Deep reservoir is 350m downdip from the discovery well. The results indicate that the total oil column established by this second well is likely to be in excess of 480m.\n \nWhilst the data acquired is still to be fully evaluated and integrated, the initial view of the Com...