Oil Found in Falklands - just announced

Discussion in 'Current Affairs, News and Analysis' started by Recruiting_Office_reject, May 6, 2010.

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  1. This will no doubt get lost in the ballyhoo around the election but Rockhopper Exploration announced today that it found oil in the North Falkland basin.

    Difficult to say what the significance of this is militarily as it isn't yet clear that its economic. Rockhoppers announcement described them as being "extremely excited", which for a small oil company would suggest about 500 million barrels which is well worth having.

    Anyone know any more ?
  2. Official announcement

    RNS Number : 4541L Rockhopper Exploration plc 06 May 2010

    For immediate release: 6 May 2010

    Rockhopper Exploration plc

    ("Rockhopper" or the "Company")

    Drilling Programme Update

    Sea Lion Exploration Well - 14/10-2

    Oil Discovery

    Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to announce that well 14/10-2 on the Sea Lion prospect has reached a depth of 2,744 metres. Initial data collected indicate that this well is an oil discovery, which would be the first in the North Falkland Basin.

    The Company has run a suite of wireline logs and logging data collected thus far indicate that the well has encountered a 150 metre gross interval of sand and shales. The data show that the well has 53 metres of net pay distributed in multiple pay zones, the thickest of which has a net pay of 25 metres. These pay zones have an average porosity of 19%.

    Rockhopper now intends to collect additional logging information prior to making a decision whether to plug and abandon the well, or to suspend the well for future testing. The Company is also considering whether to drill an appraisal well on Sea Lion later during the current drilling campaign. Further information will be distributed in due course.

    It remains the intention of the Company to drill the Ernest prospect in the fourth slot of the overall Falklands Drilling programme.

    Samuel Moody, Managing Director, commented:

    "We are extremely excited by the results of this well. While we are presently acquiring additional data, current indications are that we have made the first oil discovery in the North Falkland Basin. We will now focus on analysing in more detail the data gathered from the well, in addition to continuing preparations for the drilling of our Ernest prospect later in the year."
  3. oldbaldy

    oldbaldy LE Moderator Good Egg (charities)
    1. Battlefield Tours

  4. Cue more protests from the argies.
  5. So, will we be seeing Argentina kicking off again/more?
  6. Ha Ha Ha Pedro!
  7. Is that 'Sea Lion' as in the island, or just the name of a well / area of sea??
  8. Auld-Yin

    Auld-Yin LE Reviewer Book Reviewer Reviews Editor

    The Argies might think it is a re-run of Operation Sea Lion (1940-2010)
  9. Sea Lion is the name of the exploration well
  10. No doubt Gordon the goffer Brown will be on the news if he gets to form a coalition government, showing these oil findings will be his way to cut the big hole in the economy.
  11. Falklanders about to become richer per head than Kuwait? :lol:

    Change of pace from Sheep farming!
  12. Are they sure its not just drifting down from the oil leak in the states?
  13. Tory government claims power from disastrous Labour government as Oil is found in British waters. Again.

    A slight embellishment of events, but you get the point.
  14. Negligent-Discharge

    Negligent-Discharge LE Book Reviewer

    Is that why our [hr]Typhoons[hr]... sorry Eurofighters are down south?
  15. Good reason to rebuild the navy now.