Rockhoppers prospect inventory rises to 3.7 billlion barrels on 3D seismic
18 February 2008
Rockhopper Exploration has announced the results of the initial phase of mapping of prospects in its North Falkland Basin licences, PL032 and PL033, where 850km2 of 3D seismic data were collected in 2007.
The new mapping has identified five hydrocarbon plays in the acreage and confirmed the presence of multiple drilling targets.
In a statement Rockhopper said that the prospects identified could contain 1.9 billion barrels unrisked recoverable and have P50 unrisked recoverable reserves of circa 1.2 billion barrels. This news follows Rockhopper Exploration's announcement in July 2007 that prospects already identified on its other licences PL023 and PL024, could have P50 unrisked recoverable reserves of 2.5 billion barrels.
The 3D seismic has also revealed that one of the exploration wells drilled by Shell in 1998 which encountered a thin sand with good hydrocarbon shows, is actually located at the very edge of a fan prospect which appears to thicken towards its centre.
The acreage, now held 100% by Rockhopper was previously held by Shell and two wells were drilled in 1998. The Rockhopper 2007 3D seismic survey overshot the well locations and also the unexplored eastern basin margin.
Rockhopper's Executive Chairman, Dr. Pierre Jungels, commented:
'The quality of the 3D seismic data and the further insight into the basin it has allowed us is extremely encouraging. In my experience, we now have a very high quality prospect inventory from which to select a number of drilling locations. Work will now focus on refining the prospect inventory, including those previously identified in licences PL023 and PL024, in preparation for drilling or farming out.
We now have sufficient drilling targets to justify a drilling campaign, whether that means farming out or obtaining a rig as operator. Now that we have a larger number of potential drillable targets we can also begin to accelerate our search for a rig.'
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