Rockhopper soars on multiple discoveries
-Listed oil explorer said.The Beverley sand was encountered at 2,359 metres measured depth below the rotary kelly bushing on the drilling rig (mdrkb) and the gross reservoir package of 27 metres was some 10 metres thicker than prognosed, with net gas pay of 25.8 metres. The Casper South sand was reached at 2,420 metres mdrkb and discovered net gas pay of 8.5 metres and net oil pay of 11.6 metres.
Meanwhile, the well additionally penetrated the Casper sand some 6.3 kilometres to the south of the 14-10/9 Casper discovery well in a relatively down-dip position. The Casper reservoir was encountered at 2,450 metres mdrkb and is entirely below the gas oil contact observed at well 14/10-9.
Rockhopper believes that well 14/15-4 defines the southernmost limit of Casper with a thin reservoir section of low net to gross sands.
And finally, the Sea Lion Main Complex was encountered at 2,474 metres mdrkn and discovered eight metres of net oil pay.
The news prompted Rockhopper's shares to rise the most in five weeks, while fellow Falklands explorer Desire Petroleum (DES), which has a 40% interest in the well, gained nearly 12%.