Rockhopper finds oil at Isobel Deep

LONDON, May 19, 2015 – UK-headquartered Rockhopper Exploration has made an oil discovery at its well offshore the Falkland Islands, the company announced on Tuesday.

A zone of suspected elevated formation pressure on well 14/20-1 was penetrated at the base of the current hole section. Oil shows were also encountered in this interval. Operator Premier Oil has decided to run an additional casing string before drilling ahead through the main reservoir target to total depth.

The additional work will add between 10 and 15 days to the schedule, with a further announcement on the results of the well expected in early June. The Isobel Deep well, the second well of the campaign, spudded in early April. Rockhopper noted that the presence of oil shows is not necessarily indicative of net pay.

Premier Oil owns a 36-percent stake in the block, while Falkland Oil and Gas holds 40 percent and Rockhopper Exploration controls the remaining 24 percent.