Rockhopper Exploration plc Greater Mediterranean Update (7148Q)
21 February 2019 - 6:02PM
UK Regulatory
TIDMRKH
RNS Number : 7148Q
Rockhopper Exploration plc
21 February 2019
21 February 2019
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Greater Mediterranean Update
Rockhopper Exploration plc (AIM: RKH), the oil and gas company
with key interests in the North Falkland Basin and the Greater
Mediterranean region, is pleased to provide the following update in
relation to its Greater Mediterranean portfolio.
Abu Sennan, Egypt (22% working interest)
Current production from the Abu Sennan concession is
approximately 4,100 barrels of oil equivalent per day ("boepd")
gross (915 boepd net to Rockhopper), an approximate 10% increase
over average production rates during 2018.
ASZ-1X
As previously announced, exploration well ASZ-1X located on
Prospect S was spudded on 8 November 2018 and an oil discovery was
made in the Abu Roash-C reservoir. The award of a development lease
over the discovery is currently pending governmental approval.
2019 drilling campaign
Following joint venture approval, an active drilling programme
has been agreed for 2019 including the drilling of one exploration
well (SW-ASH-1X), two in-fill oil producer wells (Al Jahraa-11 and
Al Jahraa-7) and a second water injection well on Al Jahraa field.
Activity in 2019 continues the planned development programme in the
Al Jahraa field, as well as further exploration on the
concession.
The 20 inch conductor has been set in place at the Al Jahraa-11
location and the rig has been mobilised to site. Spud is
anticipated towards the end of February for this first well of the
2019 drilling campaign. The well is expected to take approximately
54 days to complete and is targeting the AR-C and the Bahariya
reservoirs.
Ombrina Mare arbitration
In March 2017, Rockhopper commenced international arbitration
proceedings against the Republic of Italy in relation to the
Ombrina Mare field. The hearing took place in early February 2019
in Paris with post hearing briefs to be submitted in the coming
months and an outcome expected in late Q3 or early Q4 2019.
Rockhopper continues to believe it has strong prospects of
recovering very significant monetary damages - on the basis of lost
profits - as a result of the Republic of Italy's breaches of the
Energy Charter Treaty.
Enquiries:
Rockhopper Exploration plc
Sam Moody - Chief Executive Officer
Stewart MacDonald - Chief Financial Officer
Tel. +44 (0)20 7390 0234 (via Vigo Communications)
Canaccord Genuity Limited (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor
James Asensio
Tel. +44 (0)20 7523 8000
Peel Hunt LLP (Joint Broker)
Richard Crichton
Tel. +44 (0)20 7418 8900
Vigo Communications
Patrick d'Ancona
Ben Simons
Tel. +44 (0)20 7390 0234
Note regarding Rockhopper oil and gas disclosure
This announcement has been approved by Rockhopper's geological
staff which includes Lucy Williams (Geoscience Manager) who is a
Chartered Geologist, a Fellow of the Geological Society of London
and a Member of both the Petroleum Exploration Society of Great
Britain and American Association of Petroleum Geologists, with over
25 years of experience in petroleum exploration and management and
who is the qualified person as defined in the Guidance Note for
Mining, Oil and Gas Companies issued by the London Stock Exchange
in respect of AIM companies.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDZMGZZVMLGLZG
(END) Dow Jones Newswires
February 21, 2019 02:02 ET (07:02 GMT)
Rockhopper Exploration (LSE:RKH)
Historical Stock Chart
From Apr 2024 to May 2024
Rockhopper Exploration (LSE:RKH)
Historical Stock Chart
From May 2023 to May 2024