Business
Interim Results to 30 Sep 200
Interim Results to 30 Sep 200.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n RNS Number : 3414I Rockhopper Exploration plc 18 November 2008 \n \n\n\nPress Release\n\nFor Immediate Release: 18 November 2008 \n\nRockhopper Exploration ('Rockhopper' or the 'Company')\n\nInterim results for the six months ended 30 September 2008\n\nRockhopper Exploration plc (AIM:RKH), the North Falkland Basin oil and gas exploration company, today announces its interim results for the six months ended 30 September 2008.\n\nEstimated Prospective Resources Update:\n\n\nIncreased estimates from 1.2 billion barrels recoverable on an unrisked basis to 1.8 billion barrels recoverable in licences PL032 and PL033\n\n\nOverall potential increased to 4.3 billion barrels recoverable oil plus multi Tcf Gas\n\n\n\nOperational highlights:\n\n\nSeismic anomaly over the Sea Lion Fan strongly suggestive of oil within the system\n\n\nBenthic sampling completed over licences PL023 and PL024\n\n\nWork on Shell well 14/5-1A confirms significant gas shows\n\n\nNew low risk gas prospect identified with proven gas with potential to contain multi-Tcf reserves\n\n\nFarm out discussions continue\n\n\nSigns of easing in rig rates and availability\n\n\n\nFinancial highlights:\n\n\nPlacing of new shares in May 2008 raised £3.6m\n\n\nTotal cash and deposit balances at period end of £4.8m\n\n\n\nCommenting on the period under review, Executive Chairman, Dr. Pierre Jungels said: \n\n'We now have in our portfolio prospects with total estimated unrisked recoverable prospective resources of 4.3 billion barrels of oil and multi Tcf of gas which, subject to rig availability, financing and all relevant consents, are ready to drill. We have met with a number of companies as part of our ongoing farm-out programme and we continue to keep all options open with regard to funding our drilling commitments. We are currently in discussion with a number of rig contractors regarding securing a suitable drilling vessel and from these discussions have noted an easing in both rates and availability of drilling units in recent months.'\n\nFor further information, please contact:\n\n\n\n\n\nRockhopper Exploration plc\n\n\nwww.rockh...