Rockhopper Exploration plc
21 December 2005
PRESS RELEASE
For immediate release: 21 December 2005
Rockhopper Exploration plc
Rockhopper Exploration to conduct electromagnetic surveys
Rockhopper Exploration plc ('Rockhopper' or 'the Company') has commissioned
Offshore Hydrocarbon Mapping plc (OHM) to undertake an electromagnetic survey
programme on the Company's 100% held licences in the North Falklands Basin.
Data gathered from electromagnetic surveys provide exploration companies with
information on whether a chosen exploration target has resistive properties
sufficient to indicate the presence, or otherwise, of hydrocarbons before
drilling.
The surveys are due to take place in early 2006 and will increase the Company's
understanding of the prospectivity of the acreage.
Likely targets include, J1, which is a robust 4 way dip closure located in less
than 200 metres of water. The Company is also planning to obtain additional 2D
seismic data over this prospect in the early part of 2006.
Sam Moody, Managing Director commented: 'We are very excited to be moving our
exploration programme forward using this new technique. OHM's recent
announcement confirming the effectiveness of the electromagnetic method in
shallow water was key for us. The Falkland Islands are in a fairly remote
location and any future drilling programme has to be as cost effective and
de-risked as far as possible.
'We already know that J1 is a good structure in relatively shallow water and the
electromagnetic survey combined with additional 2D seismic could result in a
significantly de-risked drillable prospect. We have identified a number of other
structural closures and work is currently progressing on selecting a second
target.
'We believe this OHM survey, combined with our already commissioned 2D survey,
will lead to a significant step forward in our understanding of this acreage by
the end of the first quarter in 2006.'
Ends
Contacts:
Sam Moody, Managing Director Rockhopper Exploration 01722 414 419
www.rockhopperexploration.co.uk
Aquila Financial Limited
Peter Reilly 020 7849 3319
Yvonne Fraser 020 7849 3320
rockhopper@aquila-financial.com
Notes to editors
The Rockhopper Group started trading in February 2004 to invest in and carry out
an offshore oil exploration programme to the north of the Falkland Islands. The
Group, which floated on AIM in August 2005, is currently the largest licence
holder in the North Falkland Basin and owns a 100 per cent. interest in four
offshore production licences which cover approximately 5,800 sq. km. These
licences have been granted by the Falkland Islands government.
This information is provided by RNS
The company news service from the London Stock Exchange