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Rockhopper Exploration plc   -  RKH   

Egypt Update

Released 07:00 07-Aug-2019

RNS Number : 1623I
Rockhopper Exploration plc
07 August 2019
 

7 August 2019

 

Rockhopper Exploration plc

("Rockhopper" or the "Company")

 

Egypt Update

 

Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, provides the following operational update in relation to the Abu Sennan concession, Egypt ("Abu Sennan"). Through Rockhopper Egypt Pty Limited, Rockhopper holds a 22% working interest in Abu Sennan.

 

Al Jahraa-7

The development well, Al Jahraa-7, was spudded on 25 May 2019, and reached total depth of 3,970m MD in the Kharita formation on 23 June 2019. Initial petrophysics indicated pay in the following intervals:

 

Abu Roash-C

Net Pay: 7m

Abu Roash-E

Net Pay: 4m

Upper Bahariya          

Net Pay: 9m

Lower Bahariya_1

Net Pay: 6m

Lower Bahariya_2

Net Pay: 5m

 

A series of well tests of the Abu Roash-E and Bahariya reservoirs has commenced, initially with the rig on location and subsequently following release of the rig. These operations remain ongoing.

 

Al Jahraa-12 (formerly WI-1)

The third Al Jahraa field development well (Al Jahraa-12) of this campaign was spudded on 4 August 2019. The well is being drilled as a deviated hole to appraise the Abu Roash-C downdip of the Al Jahraa-3 well and in the water leg. In addition, it will further explore the potential of the Bahariya reservoirs. The well is anticipated to take around 55 days to drill, test and complete.

 

Current production from Abu Sennan is approximately 5,100 boepd gross (1,120 boepd net to Rockhopper's 22% working interest).

 

Rockhopper's disposal of Rockhopper Egypt Pty Limited, as announced on 23 July 2019, is subject to satisfaction of customary conditions precedent and is expected to complete during Q4 2019.

 

Enquiries:

 

Rockhopper Exploration plc

Sam Moody - Chief Executive

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.
 
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Egypt Update - RNS