07 December 2007
Rockhopper Exploration plc ("Rockhopper"): Ernest Site Survey Completed
Rockhopper is pleased to announce that Wavefield Inseis ASA has successfully collected the site survey data over the Ernest prospect in Licence PL024.
Pierre Jungels, Rockhopper Exploration's Executive Chairman, commented:
"Now that the site survey over Ernest has been acquired the only remaining item is to complete the Environmental Impact Assessment , which is already underway. Once complete we will be in a position to drill, subject to rig availability.
The possibility of a large Falklands drilling campaign has become more concrete with BHP's entry into the region and Rockhopper would certainly be interested in participating in any such campaign. The farm out market is improving as is the market for mid water semis, giving us a number of options for drilling once we are ready.
We are making good progress in our interpretation of the 3D seismic data over licences PL032 and PL033 and initial indications are encouraging . We should be in a position to update the market on the final interpretation results before the end of January.
We will then reprocess that 3D seismic to remove the need for additional site surveys in that acreage and we should therefore have several drillable targets once our interpretation and reprocessing is completed."
NB: This statement has been approved by the Company's geological staff who include David Bodecott (Exploration Director), who is a Member of Petroleum Exploration Society of Great Britain (PESGB) and the American Association of Petroleum Geologists (AAPG) with over 30 years of experience in petroleum exploration and management, for the purpose of the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in respect of AIM companies, which outline standards of disclosure for mineral projects.
For further information, please contact:
Rockhopper Exploration plc
www.rockhopperexploration.co.uk
Sam Moody – Managing Director 01722 414 419
Aquila Financial Ltd
www.aquila-financial.com
Peter Reilly 020 7202 2601
Yvonne Fraser 020 7202 2609
Notes to editors
www.rockhopperexploration.co.uk
The Rockhopper Group started trading in February 2004 to invest in and carry out an offshore oil exploration programme to the north of the Falkland Islands. The Group, floated on AIM in August 2005, is currently the largest licence holder in the North Falkland Basin and has a 100 per cent. interest in four offshore production licences which cover approximately 5,800 sq. km. These licences have been granted by the Falkland Islands government.
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