Business
Licence Update
Licence Update.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n Rockhopper Exploration plc\n19 September 2007\n\n\n\nPress Release\n\nFor immediate release: 19 September 2007\n\n\n Rockhopper agrees relinquishment pattern for PL023 and PL024\n\nRockhopper has agreed its relinquishment pattern in accordance with the standard\nterms of its licences PL023 and PL024 with the Falkland Islands Government.\nThe licences were granted in November 2004 with a three year initial term for a\nwork programme of 2D seismic. In addition to the 2D seismic, Rockhopper also\ncollected four CSEM (Controlled Source Electromagnetic Survey) lines, two over\nErnest and two over Dolphin (formerly lead K) with positive results observed.\n\nThis statutory 50% relinquishment was anticipated by Rockhopper when the\nlicences were awarded in 2004. When the relinquishment takes effect in November\n2007, Rockhopper will successfully retain all the leads and prospects that have\nbeen identified during the technical evaluation.\n\nPhase 2 of the licence is for 3 years commencing November 2007, during which\ntime Rockhopper is committed to drilling a single well between both licences.\n\nSam Moody, Managing Director, said ' Having more than satisfied the obligations\nof phase 1 of our licences and given the very encouraging results of this first\nphase, we are in a position to accept the obligation of drilling one well in\nphase 2. Ernest is a high quality prospect with the chance of finding\nhydrocarbons set at 40%'\n\nNB: This statement has been approved by the Company's geological staff who\ninclude David Bodecott (Exploration Director), who is a Member of Petroleum\nExploration Society of Great Britain (PESGB) and the American Association of\nPetroleum Geologists (AAPG) with over 30 years of experience in petroleum\nexploration and management, for the purpose of the Guidance Note for Mining, Oil\nand Gas Companies issued by the London Stock Exchange in respect of AIM\ncompanies, which outline standards of disclosure for mineral projects.\n\n\nFor further information, please contact:\n\nRockhopper Exploration plc www.rockhopperexploration.co.uk\nSam Moody - Managing Director 01722 414 419\n\nAquila Financial Ltd www.aquila-financial.com\nPeter Reilly 020 7202 2601\nYvonne Fraser 020 7202 2609\n\n\nNotes to editors\n\nThe Rockhopper Group started trading in February 2004 to invest in and carry out\nan offshore oil explora...