Business
Sea Lion Oil Discovery - Tech
Sea Lion Oil Discovery - Tech.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n RNS Number : 0715N Rockhopper Exploration plc 04 June 2010 \n \n\nEmbargoed: 0700hrs 4 June 2010\n \n \nRockhopper Exploration plc\n(\"Rockhopper\" or the \"Company\")\n \n \nSea Lion Exploration Well - 14/10-2\nOil Discovery - Technical Update\n \nRockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to provide the following update regarding analysis of the results of the Sea Lion 14/10-2 well oil discovery recently completed in the North Falkland Basin:\n \nHighlights:\n\n\n\nSamples analysed in a dedicated laboratory confirmed as medium gravity crude oil - ranging from 26.4 to 29.2 API\n\n\nEvery sand in the well beneath regional seal charged with oil\n\n\nRPS Energy Best Estimate recoverable upgraded from 170mmbbls to 242mmbbls recoverable with significant upside potential\n\n\nBoard believes new play fairway opened \n\n\n217 metres gross oil column, 53 metres net pay\n\n\nThe Company intends to test the well at the earliest opportunity during the current campaign\n\n\n \nResults of data analysis\n \nWell 14/10-2 on the Sea Lion prospect (\"Sea Lion\" or \"the Sea Lion well\") was drilled to a depth of 2,744 metres during April and May 2010. Following completion of final logging, the well was suspended for future testing. The Company intends to test the well at the earliest opportunity during the current campaign and test equipment is currently being mobilised.\n \nThe well penetrated what the Company believes is a regional seal between 2,250 metres and 2,374 metres subsea. Based on log analysis, well site evaluation of shows and samples, sidewall cores and wireline formation testing, it appears that all sands encountered beneath this regional seal at the Sea Lion location are charged with oil and no oil water contacts were encountered.\n \nThe top oil sand in the Sea Lion well was encountered at 2,374 metres subsea, and the base of the lowest oil sand (\"oil down to\") level was encountered at 2,591 metres subsea. The total vertical oil column is 217 metres (712 feet), with total net pay of 53 metres in seven identified pay zones, the thickest of which is approximately 30 metres gross.\n \nPressure data suggest the possibility of two separate oil columns, although this will have to be confirmed by a fu...