Rockhopper buoyed as 3D data reveals positive signs
31 October 2007
Rockhopper Exploration reported today that an initial interpretation of 3D seismic data collected over its licences PL032 and PL033 in the Falkland Islands has revealed large fans and structural closures which could form targets for the next round of drilling. The largest fans cover approximately 40 sq km and are located near to the Shell well which recovered live oil.
The 3D data were collected by CGGVeritas between November 2006 and January 2007 over licences PL032 and PL033, which were formerly held by Shell. Rockhopper said the collection of 3D over the sites of the wells significantly reduced its exploration risk.
Pierre Jungels, the company’s executive chairman, said: “We are very pleased to have identified encouraging indications of fan systems for the first time on our acreage. This target has the potential to be large and is in the area of the basin where oil has already been proven. In addition, the structural closures enhance the potential reserves of our prospect inventory. We will continue to refine our mapping before ranking our prospects and deciding on drilling targets.”
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