Oil and Gas Corporate News
Rockhopper (LON:RKH) Exploration (BUY, £5.00) (RKP, 274.5p, ? 2.91%) provided an update on the flow test carried out at well 14/10-5: Well flowed at commercially viable rates; Well flowed at stabilised rates of 5508 stb/d; and the well achieved a maximum stabilised flow rate of 9036 stb/d. A total section of 86m, incorporating 79m of reservoir, was perforated between 2379m and 2465m (md) over the Sea Lion Main Fan Complex. No lower fan sands were perforated on this flow test. The well flowed for a main 48 hour flow period at a stabilised rate of 5508 stb/d and 940 mscf/d of gas with a flowing well head pressure (WHP) of 783 psi on a 48/64 inch choke. It was not necessary to use any wax inhibitors or pour point suppressants and no water or H2S were produced during the test. Downhole mini DSTs (Drill Stem Test) were also performed on two of the three sands making up the 14m of net pay encountered in the well, which form part of the lower fan. These 2 sands had net pay of 8m and 4.5m. Interpretation of the results of the mini DST indicate that these 2 sands could have contributed an additional 800 stb/d flow rate using the same flow test techniques (artificial lift by ESP and thermal insulation by VIT) as used during the main DST performed on the upper fan in well 14/10-5. The Ocean Guardian drilling unit will now drill well 14/10-6, which will be the third appraisal well within the Sea Lion discovery area. 14/10-6 is located some 4.5km to the west of well 14/10-5 and is located within the Company's currently mapped mid-case area.
Roxi Petroleum (LON:RXP) (RXP, 7p, ? 75.0%) announced the results of an independent Estimation of Resources by Gaffney Cline and Associates (GCA) of the Company's preliminary interpretation of approximately 1,400 km2 of high quality 3D seismic data. The data was previously acquired in the BNG Contract Area in Western Kazakhstan in 2009 and 2010. The Company has thus far identified 30 prospects and a further 7 leads within the BNG Contract Area. The prospects range in size from 3 to over 80 (mmbo, with a total aggregate gross resource potential of over 500 mmbo of "Best Estimate Prospective Resources". The geological Chance of Success, or Risk,…
