REG - Rockhopper Exp plc - Egypt Operational Update

Rockhopper ExplorationAnnouncement

18/12/2019 07:00

RNS Number : 2314X
Rockhopper Exploration plc
18 December 2019
 


18 December 2019
Rockhopper Exploration plc
("Rockhopper" or the "Company")
 
Egypt Operational 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.
 
ASH-2
The commitment well, ASH-2, was spudded on 21 October 2019, and reached total depth of 4,030m measured depth ("MD") in the Alam El Bueib Formation on 22 November 2019. The well was drilled as a vertical hole to appraise the Alam El Bueib reservoir  to the WSW of the existing well ASH-1ST2, which currently produces 340 barrels of oil per day ("bopd"). Petrophysics indicate 50m of net oil pay in ASH-2. Modular formation Dynamic Tester ("MDT") pressure data indicates the reservoir is un-depleted, close to initial reservoir pressure. The well was completed, perforated and tested with the rig on site with encouraging results. The rig was released on 10 December 2019. The well will be tested at stabilised rates once the rig has moved off site.
 
Al Jahraa-12 (formerly WI-1)
This deviated development well was spudded on 4 August 2019 and reached total depth of 4,040m MD in the Kharita Formation on 2 September 2019. Operations are ongoing to complete the well as an AR-C reservoir water injector, as was the primary objective for the well. While there was indication of oil pay in the Bahariya, the interval did not flow on test.
 
Al Jahraa SE-1X (AJSE-1X)
Following a successful frac job, production from the AR-C in well AJSE-1X has increased from approximately 200 bopd to approximately 450 bopd.
 
Current production from Abu Sennan is approximately 5,100 barrels of oil equivalent per day ("boepd") gross (1,120 boepd net to Rockhopper's 22% working interest). This excludes production from ASH-2 which is awaiting final commissioning.
 
Rockhopper's disposal of Rockhopper Egypt Pty Limited, as announced on 23 July 2019, is subject to satisfaction of final conditions precedent, including United Oil and Gas Plc shareholder approval and is expected to complete during January 2020.
 
 
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. 
 




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