Business
Stmnt re Share Price Movement
Stmnt re Share Price Movement.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n RNS Number : 9499M Rockhopper Exploration plc 02 June 2010 \n \n\nFor immediate release: 2 June 2010\n \nRockhopper Exploration plc\n(\"Rockhopper\" or the \"Company\")\n \nStatement re. Share Price Movement \n \nRockhopper Exploration, the North Falkland Basin oil and gas exploration company, notes the significant share price movement today. Rockhopper is not aware of any reason for this movement but makes the following update:\n \nWork is continuing on analysing the results of the Sea Lion 14/10-2 well and is expected to be concluded shortly. The Directors have no reason at present to believe that the outcome of the analysis will not meet their expectations as regards to potential resources.\n \nAs regards oil quality, there has been a delay in returning a sample to the UK due to air transport logistics difficulties between the Falkland Islands and the UK and subsequently clearing Customs. The sample is however now in the UK and analysis will be underway very shortly. Nevertheless, a sample of oil from the shallowest oil sand in the well was subjected to a preliminary test in Stanley and this indicated a medium grade crude, broadly in line with the Directors' expectations, with an API of 26.3. \n \nA further announcement will be made when the full results are available which is expected to be in the next few days.\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 Genuity Limited\nRobert Finlay/ 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 to licences PL003 and PL004 which are operated by Desire Petroleum in which it holds a 7.5% working interest. These licences have been granted by the Falkland Islands go...