18 November 2008
Rockhopper Exploration ("Rockhopper" or the "Company"): Interim results for the six months ended 30 September 2008
Rockhopper Exploration plc (AIM:RKH), the North Falkland Basin oil and gas exploration company, today announces its interim results for the six months ended 30 September 2008.
Estimated Prospective Resources Update:
 Increased estimates from 1.2 billion barrels recoverable on an unrisked basis to 1.8 billion barrels recoverable in licences PL032 and PL033
Overall potential increased to 4.3 billion barrels recoverable oil plus multi Tcf Gas
Operational highlights:
Seismic anomaly over the Sea Lion Fan strongly suggestive of oil within the system
Benthic sampling completed over licences PL023 and PL024
Work on Shell well 14/5-1A confirms significant gas shows
New low risk gas prospect identified with proven gas with potential to contain multi-Tcf reserves
Farm out discussions continue
Signs of easing in rig rates and availability
Financial highlights:
Placing of new shares in May 2008 raised £3.6m
Total cash and deposit balances at period end of £4.8m
Commenting on the period under review, Executive Chairman, Dr. Pierre Jungels said:
"We now have in our portfolio prospects with total estimated unrisked recoverable prospective resources of 4.3 billion barrels of oil and multi Tcf of gas which, subject to rig availability, financing and all relevant consents, are ready to drill. We have met with a number of companies as part of our ongoing farm-out programme and we continue to keep all options open with regard to funding our drilling commitments. We are currently in discussion with a number of rig contractors regarding securing a suitable drilling vessel and from these discussions have noted an easing in both rates and availability of drilling units in recent months."
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
0118 979 4100
Teathers – Corporate Finance
Tom Hulme
020 7426 9000
Rockhopper confirms that in accordance with AIM Rule 17, the Company's nominated adviser and broker is Teathers, a division of Straumur-Burdaras Investment Bank hf., of Berkeley Square House, Third Floor, Berkeley Square, London W1J 6BU.
Each statement about the Company's prospective resources has been approved by 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.
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 3,800 sq. km. These licences have been granted by the Falkland Islands government.
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