Rockhopper exploration well is dry hole

11th Oct 2011 07:51

North Falkland Basin oil and gas exploration company Rockhopper said exploration well 14/10-8 provided it with some useful geological information but no oil.The well was designed to investigate reservoir and hydrocarbon presence within the Sea Lion Main Complex (SLMC), and was also an exploration well on both the Casper and Kermit prospects. Though good quality thick reservoir packages were encountered in all three targets, all sands were water wet and the well is a dry hole.Putting a brave face on things, the company said it believes that the Well penetrated a relatively restricted area of the SLMC that appears to be separated from the rest of the complex by the fault to the north. The thickness of the reservoir encountered in the well has increased the company's confidence that good quality reservoir is likely to be present in other areas within the SLMC."14/10-8has provided us with further valuable information regarding Sea Lion although its main targets proved to be water wet. We continue to make progress in refining our view of the field's full potential and the optimal ways to both finance and develop it," claimed Rockhopper's chief executive, Sam Moody.--jh