Business
Rachel North well - UPDATE
Rachel North well - UPDATE.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n RNS Number : 8219V Rockhopper Exploration plc 09 November 2010 \n\nEmbargoed: 0700hrs, 9 November 2010\n \nRockhopper Exploration plc\n \n(\"Rockhopper\" or the \"Company\")\n \nRachel North well\n \nRockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, notes the announcement from Desire Petroleum plc (the \"Operator\") today regarding the Rachel North well, in which Rockhopper holds a 7.5% working interest:\n \nBoth regulatory and partner approvals have been granted for Desire to drill the 14/15-2 Rachel North well. The 14/15-1 well has been plugged and abandoned and the rig is currently waiting on weather to move to the Rachel North location.\n \nThe Rachel North well will be drilled vertically with an estimated total depth of 3,050 metres. The bottom hole location will be 1.7 kilometres from the Rachel sidetrack 14/15-1Z bottom hole location. \n \nDrilling operations are expected to last around 35 days.\n \nIt is intended that this well will evaluate the sands with oil shows encountered in the Rachel sidetrack as well as a number of possible additional sands not seen in the sidetrack.\n \nA further announcement will be made once the well has been spudded.\n \nEnquiries:\n \nRockhopper Exploration plc\nSam Moody - Chief Executive\nTel. +44 (0)20 7920 2340 (via M: Communications)\n \nM: Communications\nPatrick d'Ancona or Ben Simons\nTel. +44 (0)20 7920 2340\n \nCanaccord Genuity Limited\nCharles Berkeley / Henry Fitzgerald-O'Connor\nTel. +44 (0) 20 7050 6500\n \nNotes to Editors\n \nRockhopper was established in February 2004 with a strategy to invest in and carry out an offshore oil exploration programme to the north of the Falkland Islands. The Company floated on AIM in August 2005 and holds a 100 per cent. interest in four offshore production licences: PL023, PL024, PL032 and PL033 which cover approximately 3,800 sq. km. Rockhopper has also farmed in (7.5% working interest) to licences PL003 and PL004, which are operated by Desire Petroleum. These licences have been granted by the Falkland Islands government.\n \nAn extensive work programme has been carried out over a number of years on the licences operated by Rockhopper. This has included 2D and 3D Seismic and Controlled Source Electromagneti...