21st Dec 2005 07:00
Rockhopper Exploration plc21 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 commissionedOffshore Hydrocarbon Mapping plc (OHM) to undertake an electromagnetic surveyprogramme on the Company's 100% held licences in the North Falklands Basin. Data gathered from electromagnetic surveys provide exploration companies withinformation on whether a chosen exploration target has resistive propertiessufficient to indicate the presence, or otherwise, of hydrocarbons beforedrilling. The surveys are due to take place in early 2006 and will increase the Company'sunderstanding of the prospectivity of the acreage. Likely targets include, J1, which is a robust 4 way dip closure located in lessthan 200 metres of water. The Company is also planning to obtain additional 2Dseismic data over this prospect in the early part of 2006. Sam Moody, Managing Director commented: "We are very excited to be moving ourexploration programme forward using this new technique. OHM's recentannouncement confirming the effectiveness of the electromagnetic method inshallow water was key for us. The Falkland Islands are in a fairly remotelocation and any future drilling programme has to be as cost effective andde-risked as far as possible. "We already know that J1 is a good structure in relatively shallow water and theelectromagnetic survey combined with additional 2D seismic could result in asignificantly de-risked drillable prospect. We have identified a number of otherstructural closures and work is currently progressing on selecting a secondtarget. "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 bythe end of the first quarter in 2006." Ends Contacts:Sam Moody, Managing Director Rockhopper Exploration 01722 414 419www.rockhopperexploration.co.uk Aquila Financial Limited Peter Reilly 020 7849 3319Yvonne Fraser 020 7849 [email protected] Notes to editors 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, which floated on AIM in August 2005, is currently the largest licenceholder in the North Falkland Basin and owns a 100 per cent. interest in fouroffshore production licences which cover approximately 5,800 sq. km. Theselicences have been 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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