LONDON--Rockhopper Exploration PLC (RKH.LN) Wednesday said a
drilling unit has been contracted by Premier Oil PLC (PMO.LN) to
drill a minimum of four firm wells in the North Falkland Basin.
MAIN FACTS:
-Rig contracted by Premier Oil PLC (PMO.LN) as operator and will
also be used by Noble Energy under a rig sharing agreement to drill
a further two firm wells elsewhere in the Falklands
-8 options secured which can be exercised prior to mobilization
a further eight which can be elected at key points during the
campaign
-Order has yet to be finalized; Rockhopper + partners anticipate
using the first two firm slots on the rig to drill the Zebedee and
Isobel/Elaine prospects, with Noble taking the third and fourth,
before the rig returns to the North Falkland Basin for the final
two firm wells
-4 firm wells in the North Falklands Basin will target an
expected 520 million+ barrels of Stock Tank Original Oil In Place
net to Rockhopper
-Shares at 0725 GMT up 3 pence or 2.6%
-Write to Ed Ballard at ed.ballard@wsj.com
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