Business
Sea Lion - Oil Discovery
Sea Lion - Oil Discovery.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n RNS Number : 4541L Rockhopper Exploration plc 06 May 2010 \n\nFor immediate release: 6 May 2010\n \nRockhopper Exploration plc\n(\"Rockhopper\" or the \"Company\")\n \nDrilling Programme Update\n \nSea Lion Exploration Well - 14/10-2 \nOil Discovery \n \nRockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to announce that well 14/10-2 on the Sea Lion prospect has reached a depth of 2,744 metres. Initial data collected indicate that this well is an oil discovery, which would be the first in the North Falkland Basin.\n \nThe Company has run a suite of wireline logs and logging data collected thus far indicate that the well has encountered a 150 metre gross interval of sand and shales. The data show that the well has 53 metres of net pay distributed in multiple pay zones, the thickest of which has a net pay of 25 metres. These pay zones have an average porosity of 19%.\n \nRockhopper now intends to collect additional logging information prior to making a decision whether to plug and abandon the well, or to suspend the well for future testing. The Company is also considering whether to drill an appraisal well on Sea Lion later during the current drilling campaign. Further information will be distributed in due course.\n \nIt remains the intention of the Company to drill the Ernest prospect in the fourth slot of the overall Falklands Drilling programme.\n \nSamuel Moody, Managing Director, commented:\n \n\"We are extremely excited by the results of this well. While we are presently acquiring additional data, current indications are that we have made the first oil discovery in the North Falkland Basin. We will now focus on analysing in more detail the data gathered from the well, in addition to continuing preparations for the drilling of our Ernest prospect later in the year.\"\n \nEnquiries: \n \nRockhopper Exploration plc\nSam Moody - Managing Director\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 Adams\nJeffrey Auld/ Elijah Colby/ 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 inve...