REG - Rockhopper Exp plc - Egypt Update

Rockhopper ExplorationAnnouncement

03/06/2019 07:05

RNS Number : 8897A
Rockhopper Exploration plc
03 June 2019
 


3 June 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, is pleased provide the following operational update in relation to its Egyptian portfolio, in which Rockhopper holds a 22% working interest.
 
Al Jahraa-11
The Al Jahraa-11 in-fill well reached TD of 4,150m MD on 15 April 2019 in the Kharita formation. Mudlogs and petrophysics indicate the following oil net pay:
 
-      ARC: 7.2m TVD
-      ARD: 4.0m TVD
-      ARG: 2.5m TVD
-      Bahariya: 15m TVD
The well has been successfully tested across the ARC, ARG and Bahariya and has been completed with a dual string to produce from these three reservoirs.  The well is currently producing approximately 787 bopd gross. In addition to the oil production from Al Jahraa-11, the operator, Kuwait Energy, is evaluating a gas commercialisation solution through bids for the construction of a sales gas pipeline from Al Jahraa to the gas plant at El Salmiya.
 
Al Jahraa-7
The Al Jahraa -7 in-fill well was spudded on 26 May 2019. As of 2 June 2019, the well is drilling ahead at 1,195m in 12 1/4" hole. This well is planned to TD in the Kharita formation with its primary objective being an infill oil producer in the ARC reservoir and having a secondary objective in the Bahariya. The well is planned to take around 60 days to drill and complete.
 
The next well in the programme will be Al Jahraa Water Injector-1, followed by SW-ASH commitment exploration well.
 
Abu Sennan 6 development lease
As previously announced a development lease, which contains the ASX-1X discovery in the ARC formation, was awarded on 25 March 2019, and the well brought on stream shortly thereafter. The well is currently producing 150 bopd gross.
 
As of 2 June 2019, the total gross production from Abu Sennan was 5,135 boepd (1,130 boepd net to RKH).
 
Sam Moody, Chief Executive of Rockhopper, commented:
"We are delighted to have drilled yet another highly successful well at Abu Sennan with multiple pay zones encountered across four reservoirs including the Bahariya and maintaining the momentum we enjoyed during 2018 where we were successful in three out of four wells."
 
 
Enquiries:
 
Rockhopper Exploration plc
Sam Moody - Chief Executive Officer

Stewart MacDonald - Chief Financial Officer
Tel. +44 (0) 20 7390 0230 (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 0231
 
 
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").
 
 
Glossary:
 




bopd


barrels of oil per day




boepd  


barrels of oil equivalent per day




MD


measured depth




TD


total depth




TVD


true vertical depth




 




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