Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to provide the following update concerning the Abu Sennan drilling concession, onshore Egypt, in which the Company has a 22% working interest.
Production from the six fields within the Abu Sennan concession remains stable, averaging 3,300 barrels of oil equivalent per day ("boepd") gross during the first six months of 2017.
Al Jahraa-9
The Al Jahraa-9 well penetrated 5 metres of reservoir sand in the primary Abu Roash-C ("AR-C") reservoir. Wireline logging and a well test across the interval confirmed that, while the sand is water wet, the reservoir pressure is in line with the producing AR-C reservoir in the Al Jahraa and Al Jahraa SE fields. The well also encountered the deepest known oil shows in the Abu Roash-D and Abu Roash-E ("AR-E") reservoirs, demonstrating further potential at these levels elsewhere in the concession.
The results of the Al Jahraa-9 well will now be integrated with existing data for the Al Jahraa and Al Jahraa SE oil fields to help refine the future development plans for these fields.
Al Jahraa SE-2X
The Al Jahraa SE-2X well has been successfully side-tracked into the Al Jahraa SE field and oil pay has been confirmed from wireline logging in both the AR-C and AR-E reservoirs. The well has recently been completed in the deeper AR-E reservoir and was put onto production at a tubular and pump constrained rate of approximately 250 boepd gross.
Egypt payments
Rockhopper is pleased to confirm that its outstanding receivables balance for Egypt continues to reduce, with further payments having been received in July.
Sam Moody, CEO, commented:
"We are pleased with the overall progress in Egypt and, in particular, with the continuing reduction in our receivables balance. While it is disappointing that the Al Jahraa-9 well was water wet, the deep oil shows are an encouraging indication of the additional potential at these deeper levels in other areas of the concession. Furthermore, with the Al Jahraa SE-2X well having now been completed as a producer, we believe that a well-constructed water flood programme would have the potential to significantly enhance recovery factors achievable at the Al Jahraa field."
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