Business
Sea Lion Operator’s Update
Sea Lion Operator’s Update.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n\n 24 March 2025\n \nRockhopper Exploration plc\n(\"Rockhopper\" or the \"Company\")\nSea Lion Operator's Update\nRockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin (\"NFB\"), notes the recent publication by Navitas Petroleum LP (\"Navitas\" or the \"Operator\") of and an updated NFB independent resource report conducted by Netherland Sewell & Associates (\"NSAI\") (the \"March 2025 NSAI Independent Report\") on behalf of Navitas. The report reflects work carried out to mature the resource base and accelerates later phases of the development programme in the build up to FID. Overall resources at Sea Lion remain unchanged. As a result of the work carried out, a significant number of barrels have been moved from 'Development On Hold' to 'Development Pending' classification.\n \nMarch 2025 NSAI Independent Report\n \nThe new March 2025 NSAI report, which Rockhopper has not reviewed, categorises the Sea Lion resources into the following developments:\n \n· Northern area, 3 phases\n· Central area, 2 phases\n· Northern Area Phases 1 and 2 will be developed using a redeployed and upgraded FPSO that is expected to be secured upon FID. \n· Northern Area phase 3 and the Central Area Phases 1 and 2 will require a substantially larger replacement FPSO to be identified and secured.\n \nThe Development on Hold category of 178 MMbbls 2C includes gross resources within Sea Lion and Isobel/Elaine, that could be developed under future phases but for which there is currently no published development plan.\n \nKey Information\n \n2C Contingent Resources (Development Pending) phased development concept for the Sea Lion field:\n \n· 64 wells\n· Phased Development\n \nNorthern Area\n \nPhase 1 11 wells, 6 pre drilled, 170mmbbls\nPhase 2 12 wells, 149mmbbls\nPhase 3 ...