Rockhopper Hires CGG for Seismic Survey of North Falkland Basin

North Falkland Basin
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Rockhopper Exploration has signed a Letter Of Intent with CGG Marine to conduct a 3D seismic survey on its North Falkland Basin acreage. The survey is planned for the Falkland summer months and is currently scheduled to begin in December 2006. The survey, which consists of a minimum of 685 square kilometers over licenses PL032 and PL033 is aimed at providing further data over a number of promising leads and prospects, and in addition, better definition of the zones from where oil was recovered and gas detected in the 2 wells drilled in 1998.

Licenses PL032 and PL033 lie in less than 500m of water and were the subject of 2 wells drilled during 1998, one of which recovered live oil to the surface. The licenses are already covered by 1546 km 2D and 368 km2 3D seismic data and Rockhopper has access to that data. Rockhopper is now targeting a different play type in addition to those early wells, representing an untested oil play.

Sam Moody, Managing Director, commented: "We are very pleased to have one of the worlds leading seismic contractors coming to work in the Islands at a time of tight supply for high quality services in the oil sector. In 2006, we have already completed 2D seismic and CSEM surveys over licenses PL023 and PL024, and the completion of this 3D seismic survey will be a further step in progressing our exploration effort. By acquiring, processing and interpreting this data the Company is taking all available steps to ensure that we have the maximum flexibility in planning a future exploration drilling program."

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