Rockhopper proves Sea Lion is commercial

17th Sep 2010 16:08

Shares in Rockhopper Exploration have risen by one-fifth following a test of the Sea Lion 1 well in the Falkland Islands that showed that the field is commercially viable. The test indicated sustained rates of production of more than 2,000 barrels of oil per day. The highest rate was 2,304 barrels in the day. Rockhopper believes additional equipment and a better well location will enable an even higher flow rate. Sea Lion is in the North Falkland Basin. This is the first successful oil flow test in the Falkland Islands.