MercoPress. South Atlantic News Agency

Rockhopper Exploration consolidates Falklands' interest

Rockhopper Exploration, the oil and gas exploration company focused on the North Falkland Basin, which listed on AIM in August 2005, has today announced its preliminary results for the year ended 31 March 2006.

Highlights:

− Successful placing and listing on AIM − 2D seismic survey completed − Electromagnetic surveys completed − 3D seismic survey commissioned − Cash at bank 31 March 2006 of £12.5 million − Pre tax loss of £0.354 million

Executive Chairman, Dr. Pierre Jungels commented:

"We completed a successful listing on AIM in August 2005 raising £15 million before expenses to undertake work on all of our licence areas. A 2D programme has been completed on licences PL023 and PL024 and a 3D vessel is now secured for licences PL032 and PL033. CGG, one of the world's leading marine seismic contractors, will undertake the survey.

We have also completed two Controlled Source Electromagnetic surveys in order to give ourselves greater confidence in the prospects over which they were acquired. These are the first such surveys ever completed in the Falkland Islands, the results of which will be fully integrated with all our other technical studies once they are available. We remain positive about the prospectivity of the basin as a whole and our acreage specifically."

Rockhopper Exploration plc is currently the largest licence holder in the North Falkland Basin and has a 100 per cent. interest in four offshore production licences which cover approximately 5,800 sq. km. These licences have been granted by the Falkland Islands government.

Since listing on AIM in August 2005 Rockhopper has undertaken a 2D seismic survey, a controlled source electro magnetic imaging survey and commissioned a 3D survey to be undertaken in late 2006.