Business
Rig Contract Signed
Rig Contract Signed.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 7727I Rockhopper Exploration plc 04 June 2014 \n \n\n \nEmbargoed for release 7.00 am: 4 June 2014\n \nRockhopper Exploration plc (\"Rockhopper\", \"RKH\" or the \"Company\")\nRig Contract\nRockhopper Exploration plc is pleased to announce that a drilling unit has been contracted by Premier Oil plc (\"Premier\") to drill a minimum of four firm wells in the North Falkland Basin. \n \nThe rig has been contracted by Premier as Operator and will also be used by Noble Energy under a rig sharing agreement to drill a further two firm wells elsewhere in the Falklands. Additionally, eight options have been secured which can be exercised prior to mobilisation and a further eight, which can be elected at key points during the campaign. \n \nWhile the drilling order has yet to be finalised, Rockhopper and its partners anticipate using the first two firm slots on the rig to drill the Zebedee and Isobel/Elaine prospects, with Noble taking the third and fourth, before the rig returns to the North Falkland Basin for the final two firm wells which are likely to be the Jayne East and Chatham / Sea Lion West Flank locations.\n \nRockhopper's sub-surface team has been continuing to fine-tune the exploration locations to ensure that reservoirs are penetrated in the most optimal position. In the case of the Isobel / Elaine fan complex this means the well has been relocated to target the Isobel Deep Fan only as the first well in that area and that the prospective STOIIP for the well reflects that change:\n \n\n\n\n\n\n\n\nGross STOIIP (mmbbls) - Rockhopper management estimate\n \n\n\n\n\n\n\n\nZebedee\n\n\nIsobel / Elaine\n \n\n\nJayne East\n\n\nChatham / Sea Lion West Flank\n\n\nTOTAL\n \n\n\n\n\nF1 & F2 (exploration targets)\n\n\n 315 \n\n\n - \n\n\n 194 \n\n\n - \n\n\n 509 \n\n\n\n\nF3 (exploration targets)\n\n\n 626 \n\n\n 241 \n\n\n 95 \n\n\n 225 \n\n\n 1,187 \n\n\n\n\nExploration total\n\n\n 941 \n\n\n 241 \n\n\n 289 \n\n\n 225 \n\n\n 1,696 \n\n\n\n\nGCoS\n\n\n 9 - 52% \n\n\n20%\n\n\n 13 - 36 % \n\n\n17%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAppraisal\n\n\n - \n\n\n - \n\n\n - \n\n\n 200 \n\n\n 200 \n\n\n\n\nTotal Gross \n\n\n 941 \n\n\n 2...