Rockhopper leaps on appraisal of test drill results

4th Apr 2011 09:13

The North Falkland Basin oil and gas exploration company Rockhopper is on the bounce after a favourable technical update regarding its appraisal well 14/10-4.The company said porosity - the ratio of the void volume in the rock to the total volume of the rock is in the range 15% - 27%, with an average of 20%.The net to gross ratio within the pay zone is 88%.Analysis of test results indicate that the well has the potential to flow at 2,700 barrels per day, a better result than the circa 2,000 barrels per day seen on the 14/10-2 well.Management interprets new low case area of 22 square kilometres with stock tank oil initially in place (STOIIP) of 516m barrels giving 155m barrels recoverable at a 30% recovery factor.---ab