Rockhopper Ends Drilling Campaign
Rockhopper Exploration announces that the Ocean Guardian drilling unit has been towed successfully from the 14/15-4 well location and is now off hire to Rockhopper.
14/15-4 was the final well in Rockhopper's first North Falkland Basin drilling campaign, which has lasted from 16 April 2010 to 8 January 2012.
The Company estimates that it will have over USD $100 million of cash resources available once all charges for completing the drilling campaign have been accounted for.
Sam Moody, Chief Executive, commented, "This marks the end of what has been a highly successful and safe drilling campaign. We have operated ten wells, conducted two Drill Stem Tests, two short offset sidetracks and collected in excess of 450m of core with
the Ocean Guardian on hire to us for a total of 397 days. I would like to thank the entire Rockhopper team and our contractors for their efforts which have resulted in seven successful wells of our ten drilled, with three oil discoveries, three gas discoveries, multiple successful Sea Lion appraisal wells and a successful appraisal well