Rockhopper flies after Falklands drilling success

9th Aug 2011 11:03

Shares in Rockhopper Exploration gushed higher after the Falkland Islands oil explorer reported results at the "upper end of expectations" from drilling of its third appraisal well at the Sea Lion feature in the North Falkland Basin.Rockhopper said drilling at the well "confirms significant reservoir development and hydrocarbon charge within Rockhopper's currently interpreted Sea Lion mid-case area.""The results of this well are at the upper end of expectations for the Sea Lion main fan complex and we are delighted to see these oil charged sands extending to the west as prognosed," chief executive Sam Moody said. "The thickness and quality of reservoir encountered in the lower fan complex gives additional potential updip."