Rockhopper 14/10-4 well further technical update confirms oil find commercial

RNS just released, particularly interesting that the new low case is 155 million barrels i.e. Rockhopper have a commercial discovery with contingent reserves increasing 50% from 100 million barrels. Hopefully 237p is going to be never seen again!

Rockhopper Exploration plc 14/10-4 Appraisal well-further technical update 

TIDMRKH 

RNS Number : 1959E 

Rockhopper Exploration plc 

04 April 2011 

Embargoed: 0700hrs, 4 April 2011 

Rockhopper Exploration plc 

(the "Company") 

14/10-4 Appraisal well - further technical update 

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, is pleased to provide the following technical update on its Sea Lion Discovery after further interpretation of the results of well 14/10-4: 

-- Porosity in 14/10-4 in the range 15%-27%, average 20% 

-- Net to gross within the pay zone of 88% 

-- Dual packer modular formation dynamic tester (MDT) results indicated well had the potential to flow at 2,700 bbls per day, compared to c.2,000 bbls per day seen in 14/10-2 

-- Management interprets new low case area of 22km2 with stock tank oil initially in place (STOIIP) of 516 mmbbls giving 155 mmbbls recoverable at 30% recovery factor 

-- New seismic depth conversion confirms upper fan full to spill, oil water contact within the upper fan package at 2,477m true vertical depth subsea (TVDSS) 

-- Analysis of MDT results and logging indicates 14/10-2 and 14/10-4 are in communication.