Rockhopper discovers significant oil column in Falkland Islands

Rockhopper Exploration has discovered a significant oil column in an appraisal well in the North Falkland Islands Basin in the South Atlantic Ocean. According to the UK-based company, Well 14/10-4 uncovered 108 feet (33 meters) of net pay in good quality reservoir with 20% average porosity. The well was drilled to a total depth of 9,190 feet (2,801 meters), finding the oil-water contact level at 8,127 feet (2,477 meters).

The well was spudded last month and lies just over one mile away from 14/10-2 discovery well. It is designed to investigate just how deep the reservoir is.

The top of the Sea Lion reservoir sands were encountered 216 feet (66 meters) downdip from the 14/10-2 discovery well. A total reservoir package of 351 feet (107 meters), comprising four main sands was encountered with a net to gross of 76%.

Ninety-eight feet (30 meters) of net pay has been encountered in the upper of the four sands, representing the main Sea Lion southern fan. The gross oil column now proven in the main Sea Lion southern fan is 341 feet (104 meters).

Rockhopper says the results of this first appraisal well will significantly increase the contingent P90 volume for this oil discovery. The P50 and P10 contingent volumes will be defined as the appraisal program progresses through the remainder of 2011.

The well will be plugged and abandoned as planned and subsequently the company will begin development planning for the Sea Lion discovery.

Rockhopper CEO Samuel Moody commented, “Following this positive result we believe Sea Lion is highly likely to prove commercially viable. The well has confirmed our ability to identify good reservoir units on the seismic in our acreage with the sands coming in very close to prognosis. We can now continue to appraise the Sea Lion discovery and to explore additional prospectivity within our acreage with added confidence.”

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