The licenses, PLO32 and PLO33, are located in the North Falkland Basin and were formerly held by Shell. A 3D seismic survey and two-well drilling program were conducted on the acreage during the 1990s, with oil and gas shows in one well and live oil shows at the surface in the other – neither well was tested. Rockhopper plans to conduct an extensive 3D seismic survey over the acreage during the next two years.
Pierre Jungels, Executive Chairman, commented: 'We are pleased to have continued to grow our portfolio and broaden the number of potential drilling opportunities for the company. This is very different acreage to our existing licenses in terms of play types and the stage of exploration the license has reached. We are in discussion with a number of seismic contractors about beginning work on our existing acreage and are excited about the drilling program we are undertaking with Desire. We believe that both the prospectivity of the acreage we hold and the highly favorable fiscal regime in place in the Islands will enable us to create significant value for our investors.'
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