Press

Rockhopper Exploration: Corporate and Operational Update


Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falklands Basin and the Greater Mediterranean region, is pleased to provide the following corporate and operational update.

Appointment of Pathfinder Bank for Sea Lion development

Standard Chartered Bank has been appointed as Pathfinder Bank in relation to the proposed senior debt project financing of the Phase 1 development of the Sea Lion project.

Abu Sennan, Egypt (22% working interest)

Development well Al Jahraa-6 on the Al Jahraa field is expected to spud this week. The primary objective of the well is the producing AR-C reservoir, at the crest of the structure. The well has an additional exploration target in the deeper Bahariya Formation sands which are productive in adjacent licences. This well is expected to take approximately 60 days to drill and will be immediately followed by a second development well in the field (Al Jahraa-10). The water injection programme in Al Jahraa is progressing to schedule and injection is expected to commence in mid-July. The third and final well in the 2018 Abu Sennan drilling campaign is an exploration well targeting Prospect S.

El Qa'a Plain, Egypt (25% working interest)

Exploration commitment well Raya-1X in the El Qa'a Plain concession reached TD on 30 June. At the primary Nukhul Formation objective, wireline logging confirmed the presence of good porosity sands, although no hydrocarbons were encountered. The well has been plugged and abandoned.

Sam Moody, Chief Executive of Rockhopper, commented: 

"We are delighted to announce the appointment of Standard Chartered as Pathfinder Bank. This appointment marks another step for the Sea Lion project as we work towards securing the necessary funding to allow project sanction. Standard Chartered is a leader in the field of Energy project financing and has played a significant role in a number of bank and export credit agency led financings in recent years.

"We also welcome the commencement of the Abu Sennan drilling campaign which comprises two development wells (Al Jahraa-6 and Al Jahraa-10), an exploration well at Prospect S as well as the initiation of a water flood programme at Al Jahraa. Whilst the result of the Raya-1X commitment well is disappointing, the targeted play was always considered high risk and the financial exposure to Rockhopper limited to less than $1 million."


Visit source site

https://rockhopperexploration.co.uk/investors/anno...

Rockhopper ExplorationCorporate UpdateOperational UpdateAIMSea LionEgypt

More items from oilvoice


Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 2 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 2 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 2 months agoPress > TotalDividend

Methyl Tertiary Butyl Ether Capacity Will Grow at a CAGR of 16.8% in India Over Next Four Years, says GlobalData

India's Methyl Tertiary Butyl Ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 0.211 million tons per annum (mtpa) in 2017 to 0.460 mtpa in 2022, according to GlobalData , a leading data and analytics company. The company's report: ‘ Met ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataIndiaMTBE
All posts from oilvoice