RockRose Energy plc Update on Incremental Development Projects (9152H)
16 March 2018 - 6:00PM
UK Regulatory
TIDMRRE
RNS Number : 9152H
RockRose Energy plc
16 March 2018
16 March 2018
Rockrose Energy plc
Update on Incremental Development Projects
RockRose Energy plc. is pleased to announce that it has
commissioned two reports:
-- RockRose has commissioned ERC Equipoise to evaluate both the
existing upside potential within the Blake field (30.82%) and, the
nearby Tain satellite discovery (50%), with a view to inform FID on
Tain development.
-- RockRose has also commissioned an independent report from
Crondall Energy to review the FPSO options on the Blake & Ross
field. The scope is in two parts; looking at replacing the current
vessel or extending the life of the Bleo Holm vessel which is
operated by Repsol Sinopec, the company's joint venture partner,
with the vessel currently targeted to be on station until 2024.
This is being undertaken to extend the life of the fields and give
the opportunity to fully deliver other discovered hydrocarbons in
the area.
Andrew Austin, Executive Chairman of RockRose Energy said:
"Internal analysis undertaken since acquiring our interest in
the Blake and Ross fields suggests there is significant upside in
terms of recoverable discovered hydrocarbons, particularly in the
Tain area. We have commissioned independent reports to be able to
make informed financial decisions regarding further
development/redevelopment opportunities. The results of these
reports will be available in the next couple of months.
While we remain focused on securing additional accretive
acquisitions we are encouraged by the opportunities for organic
growth offered within our existing portfolio."
End
Enquiries:
Rockrose Energy plc +44 (0)20 3826 4800
Broker:
Hannam & Partners (Advisory) LLP
Giles Fitzpatrick / Andrew Chubb +44 (0)20 7907 8500
Financial PR:
Camarco
Billy Clegg +44 (0)20 3757 4980
Owen Roberts
Ollie Head
For further information, please visit the Company's website at
www.rockroseenergy.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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