MercoPress. South Atlantic News Agency
Falklands’ third appraisal oil well results should be known by end of August
Port Stanley FIPASS dock rapidly becoming an oil logistics hub Falklands’ Rockhopper Exploration, the oil and gas explorer, pressed ahead with its hunt for oil in the North Falklands with the drilling of its third appraisal well on the Sea Lion Discovery feature last week.
The group told investors that it had spudded the well on 15 July and expected to complete the drilling within five weeks.
Located 4.1km west of the original discovery well, the group will investigate reservoir and hydrocarbon in what will be the first test outside of the 155m barrel minimum case area.
Rockhopper, which was founded in 2004 to hunt for oil and gas in the Falkland Islands, made its first discovery last year followed by a “significant” oil and gas discovery at the Sea Lion field earlier this year.
Both Sea Lion Main and Lower fan intervals are targets, the company said, with the entire Sea Lion Main fan expected to be above the oil-water contact established by one of the earlier appraisal wells and with reservoir expected to be thinner than encountered in previous wells on the Sea Lion feature.
Rockhopper estimates that drilling on the North Falkland Basin well will take around 38 days.
Earlier this month, Rockhopper announced that it has entered into a further assignment agreement to secure an additional well slot on the Ocean Guardian rig. It plans to drill three additional wells in succession following the latest appraisal well.
Top Comments
Disclaimer & comment rules-
-
-
Read all comments[]
Jul 19th, 2011 - 10:20 am 0there is need an astrologer to ask/learn that there is oil reserve or not !
And when the oil flows
Jul 19th, 2011 - 02:17 pm 0the crying will start,
TWIMC
Jul 19th, 2011 - 03:49 pm 0South Atlantic Pirate Noil shares…..................................... A sound investment?
I just fell over this year old post from our resident oil expert : “Mr. Beef”
”27 Beef Jun 12th, 2010
Think! FYI, I am holder of shares in FOGL, RKH and DES! I am already counting my newly acquired wealth and am pretty happy with how things are moving………
en.mercopress.com/2010/06/11/argentina-reaffirms-exclusive-authority-over-all-falklands-hydrocarbons-activities”
Lets see how “things are moving”…………….....................................................:
Average share prices for those stocks in July 2010:
FOGL approx. 230p
RKH approx. 290p
DES approx. 100p
Today's share prices for the samr stocks:
FOGL 58p
RKH 231p
DES 18,25p
Somebody must be counting down his newly lost wealth.......
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!