4th Jun 2007 07:00
Rockhopper Exploration plc04 June 2007 PRESS RELEASE 4 June 2007 Rockhopper commissions Environmental Impact Assessment and see signs ofimprovement in rig market Rockhopper Exploration plc (Rockhopper) (AIM:RKH) is pleased to announce that ithas appointed RPS Energy (RPS) to undertake an Environmental Impact Assessment(EIA) over licences PL023 and PL024. The EIA will be conducted in parallel withDesire Petroleum's EIA over licences PL006 and PL007, resulting in cost savingsfor both companies. The EIA will prepare Rockhopper for the drilling of Prospect Ernest and alsoprovide background work for any other drilling undertaken in licences PL023 andPL024. An additional EIA will be carried out over licences PL032 and PL033following completion of the current 3D seismic processing and interpretationexercise to prepare for any drilling on that acreage. Completion of our 3D has brought us closer to drilling and a number ofcontractors have indicated increased availability of drilling units to us during2008 which would be capable of drilling in our water depth and that of ourpartner, Desire. Sam Moody, Managing Director, commented: "We are very pleased to be working with RPS who have already successfullyproduced an EIA for Rockhopper and Desire in licences PL003 and PL004. We are getting strong indications of easing in the rig market in terms ofavailability, though not yet in price, with floating drilling units suitable forthe Falklands due to become available during 2008. While prices remainrelatively high, we do not believe they are prohibitive. With this in mind,undertaking an EIA at this stage will put us in a position to act quickly whenan appropriate rig becomes available." NB: This statement has been approved by the Company's geological staff whoinclude David Bodecott (Exploration Director), who is a Member of PetroleumExploration Society of Great Britain (PESGB) and the American Association ofPetroleum Geologists (AAPG) with over 30 years of experience in petroleumexploration and management, for the purpose of the Guidance Note for Mining, Oiland Gas Companies issued by the London Stock Exchange in respect of AIMcompanies, which outline standards of disclosure for mineral projects. For further information, please contact: Rockhopper Exploration plc www.rockhopperexploration.co.ukSam Moody - Managing Director 01722 414 419 Teather & Greenwood LimitedTom Hulme - Corporate Finance 020 7426 9000Tanya Clarke - Sales Aquila Financial Ltd www.aquila-financial.comPeter Reilly 020 7202 2601Yvonne Fraser 020 7202 2609 Notes to editors www.rockhopperexploration.co.uk The Rockhopper Group started trading in February 2004 to invest in and carry outan offshore oil exploration programme to the north of the Falkland Islands. TheGroup, floated on AIM in August 2005, is currently the largest licence holder inthe North Falkland Basin and has a 100 per cent. interest in four offshoreproduction licences which cover approximately 5,800 sq. km. These licences havebeen granted by the Falkland Islands government. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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