MercoPress. South Atlantic News Agency
Rockhopper planning further drilling in North Falkland basin
Ocean Guardian semi-submersible drilling unit UK oil company Rockhopper Exploration said that the recent successful flow test at Sea Lion has confirmed the potential for commercial oil in the North Falkland basin.
The company said that it is now preparing to progress its operational program, which will include appraising the Sea Lion discovery, shooting additional 3D seismic across the extent of the North Falkland Basin and drilling further exploration and appraisal wells on its Northern acreage.
Diamond Offshore Drilling (UK) has recently made a proposal to Rockhopper, at Rockhopper's request, for a continuation of the drilling campaign under a new rig contract consisting of a possible three firm wells and five options extension.
Diamond Offshore Drilling is the owner and manager of the Ocean Guardian semi-submersible drilling unit.
The execution of any such contract with Diamond Offshore Drilling (UK) will be subject both to the deposit by the company into an escrow account of significant funds sufficient to cover the day rate and other obligations and to agreement on a form of contract acceptable to both parties.
Furthermore, the company has entered into two letters of intent with a seismic contractor to acquire additional 3D seismic using two separate vessels.
The company intends to enter into contracts to procure both vessels shortly and, if it does so, it expects that work will begin before the end of January 2011
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Read all commentsYesterday RKH suffered big losses because the market is starting to think that some lies are on the air; today is Desire´s turn; perhaps some rumor leaked and Rachel isn´t a fair lady.
Oct 14th, 2010 - 02:31 pm 0By the way, talking about lies; do you know Falklands Gold Company history??
Uppps...................
Oct 14th, 2010 - 04:33 pm 0Rockhopper down 6,5% today
Argos down 10,05% today
Desire down 17,30% today !!!!!!!!
(Duster on the way, perhaps? After 18 days of drilling “some observers” are sayin' that The Ocean Guardian bit is Dryzabone :-)
Billy and Think. I would avoid gloating about short term fluctuations in the SP. Yes there has been some recent downward pressure (as there was in the run up to the RKH oil find). But gloating about such short term prices could leave you with egg on your face.
Oct 14th, 2010 - 09:21 pm 0I can understand though, you have little to gloat about!
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