Business
Operational and Corporate Update
Operational and Corporate Update.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 0046I Rockhopper Exploration plc 14 June 2017 \n\n14 June 2017\nRockhopper Exploration plc\n(\"Rockhopper\" or the \"Company\")\n \nOperational and Corporate Update\n \nRockhopper 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 provide the following operational and corporate update.\n \nSea Lion Phase 1, North Falkland Basin (RKH 40% working interest)\n \nThe Front End Engineering and Design (\"FEED\") process has substantially progressed and de-risked the Sea Lion development with focus in 2017 continuing on the commercial, fiscal and financing elements of the project. \n \nA number of contractors have now expressed interest in potentially providing funding for the project and the Company is hopeful of reaching agreement in principle on key terms over the coming months with a view to being in a position to sanction the project during 2018.\n \nDiscussions are also progressing with potential providers of export credit finance to the project.\n \nAbu Sennan, Egypt (RKH 22% working interest)\n \nAl Jahraa SE-2X\n \nExploration well Al Jahraa SE-2X, situated on the Abu Sennan-5 (Al Jahraa South East) Development Lease, was spudded on 25 April 2017 as the first of a two-well drilling campaign.\n \nThe primary target of the well was the Cretaceous Abu Roash-C (AR-C) reservoir in the fault block immediately to the south of the Al Jahraa South East field. The target reservoir was dry, but the well has been side-tracked northwards into the Al Jahraa SE field. If logging confirms oil pay, the well will be completed as the first oil producer in the AR-C reservoir in this field giving a near term increase to average daily production on the concession. \n \nAl Jahraa-9\n \nDevelopment well Al Jahraa-9 was spudded on 10 June 2017, and will target the AR-C reservoir at a location deeper than the current deepest oil penetration at Al Jahraa-4. The primary aim of the well is to demonstrate the connection between the Al Jahraa and Al Jahraa South East fields through the oil leg.\n \nThe well is anticipated to take approximately 70 days to drill, evaluate and complete as a producer upon success.\n \nWork over operations\n \nProduction at the ...