Rockhopper provided an update on the 14/10-7 well.
•Net pay 26m (85 feet) net pay Sea Lion Main Complex (SLMC) 25m net pay lower sands 1m
•Gross reservoir SLMC 35m
•Net to gross SLMC 72%
•Reservoir quality in SLMC:
◦Average porosity 22%, maximum 27%
◦Average Sw 27%
◦Average permeability 70mD, maximum 230mD
•No oil water contact was encountered
•Results at upper end of expectations
The 14/10-7 is the fifth well to be drilled on the SLMC and was drilled 3.3km to the north west of the 14/10-2 discovery well to a total depth of 2696m. The well was located close to the northern edge of the fan system in an area of relatively lower seismic amplitudes and thinner reservoir.
The Company believes the well has de-risked the areas of relatively lower amplitudes within the SLMC and indicates that the edges of the sand lobes are likely to be below seismic tuning thickness.
Further work will be required to determine the extent of the SLMC SL20 lobe to the north of the well.
The well was successful, proving a high quality reservoir package and oil column. Wireline logging and formation testing indicate that 25m of net pay was encountered in the SLMC. A conventional core of 27m was cut and recovered from the SLMC reservoir.
In addition, 1m of net pay was encountered in a thin lower sand with a deeper oil water contact than the SLMC, as in 10-2 and 10-5.
The well will now be plugged and abandoned as planned. On completion of operations on 14/10-7 the Ocean Guardian will move to drill well 14/10-N which is located approximately 4.1km south south east of the 14/10-2 discovery well. This well is designed to investigate reservoir and hydrocarbon presence within the SLMC in an area of relatively low amplitudes. 14/10-N is also an exploration well on both the Casper and Kermit oil prospects. A further announcement will be issued on spudding of the well.
Sam Moody, Chief Executive, commented, "This is another excellent result with full credit going to our subsurface team for delivering Rockhopper's fifth successful well. We will shortly move to our next well which will target not only the SLMC but also Casper and Kermit prospects."