MercoPress. South Atlantic News Agency

“Rockhopper” joins Falklands' oil exploration.

In December, the issuing of two new licences for exploration and production by the Falkland Islands Government announced the arrival of a new player in the search for hydrocarbons in the South Atlantic.

This was Crude Oil and Gas Ltd., whose Chairman, Richard Visick, was already well-known to Falkland Islanders as the owner of the leading destination Sea Lion Lodge and also Weddell Island.

Questioned by MercoPress in Stanley on Tuesday evening, at the end of a two week visit to the Falklands with other members of his family, Mr. Visick, who is a solicitor, explained that though he had founded the company, which had since become Rockhopper Exploration Ltd. it had never been his intention to supervise its day-to-day operations and that there would shortly be an important announcement about its future management.

On Wednesday, London-based public relations firm, Aguila Financial who include a number of oil-related businesses among their clients, announced the appointment of Dr Pierre Jungels as executive chairman of Rockhopper Exploration Ltd. He will take up his role formally in February 2005.

Dr Jungels, who holds a PhD in geophysics & hydraulics from the California Institute of Technology, has over 30 years experience in the oil industry. He is currently chairman of Aim listed Offshore Hydrocarbon Mapping plc and also holds non-executive directorships at Woodside Petroleum Ltd, Offshore Logistics, Inc, and Imperial Tobacco plc.

Richard Visick, the current Executive Director of Rockhopper Exploration Ltd, is quoted in Aguila Financial's release as saying, ?We are delighted that Pierre has agreed to join the company. With his vast experience of the oil industry at the highest level in the UK and internationally, Pierre brings enormous expertise to Rockhopper. His appointment forms a key part of our plans as we put together a highly experienced management team to take the company forward and progress our work programme for the licences.'

For his part, Pierre Jungels is reported as saying that he was delighted to be working with Mr. Visick and the Rockhopper team and was looking forward to helping build the business in what was an exciting and largely undrilled exploration region. "We are actively considering our funding options as we pursue other opportunities in the area that will enable us to grow the business" he concluded.

John Fowler (MP) Stanley

Further information can be obtained from: Peter Reilly/Patrick d'Ancona, Aquila Financial 020 7849 3319/3326 www.rockhopperexploration.co.uk