Rockhopper : Ninky 14/15-3 exploration well result

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, notes the announcement by Desire Petroleum plc (the “Operator”) regarding the 14/15-3 exploration well in which  

Rockhopper has a 7.5% interest:

14/15-3 well to be plugged and abandoned with oil shows T.he Operator announced that the 14/15-3 well on the Ninky prospect has reached a total depth of 2620 metres in the Barremian source rock interval and provided the following update:

Ninky Well Results

Based on drilling and wireline logging, the well encountered two sand-prone sections in the Upper and Middle F2 intervals, which were the primary targets (2323 metres to 2334 metres and 2365 metres to 2389 metres). The sands have a combined gross thickness of 35 metres and oil shows were encountered throughout both intervals while drilling. The reservoir quality is generally poor having only 5.6 metres of net reservoir with an average porosity of 13%. A thin interval of around 1.2 metres at the top of the Middle F2 zone is interpreted to be oil bearing from log analysis.

Wireline formation pressure measurements were attempted, but no valid pressures were obtained, indicating that the reservoirs are low permeability at this location. As a result no wireline sampling was attempted. The depositional model suggests these sands are sourced from the east and therefore better reservoir quality may be expected downdip. In addition, there are indications from seismic of further sands along strike on the Ninky structural high, which were not penetrated in this well. These opportunities will be evaluated with the new 3D seismic as part of the Operator’s prospect inventory update.

Operations on the Ninky well will now be completed and the well will be plugged and abandoned. Upon completion of operations on the Ninky well, the Ocean Guardian drilling rig will return to Rockhopper.

Rockhopper will drill a minimum of 3 additional wells using the Ocean Guardian drilling unit. Rockhopper’s next well is planned to be located near to the 14/10-2 discovery well. Specialist flow test equipment is due to be in the Islands in early May and Rockhopper intends to flow test the well if appropriate using this equipment to obtain a greater understanding than was possible during the test of well 14/10-2.