Rockhopper reports the formal signing of a contract for marine seismic acquisition services with Polarcus Limited for the use of the seismic vessel MV Polarcus Asima.

Under the contract Rockhopper will acquire a 3D seismic survey over areas of licences PL032 and PL033 (100% Rockhopper) which were not previously defined by 3D, as well as adjacent areas. The vessel will be available to commence the seismic survey by early January 2011, and the time required to shoot the survey within the licence area is estimated to be approximately 50 days.

A contract to process the acquired data will be the subject of a separate invitation to tender, which will be issued shortly. Monarch Geophysical Services Limited has been retained to provide specialist acquisition and processing supervision throughout the 3D seismic project.

Argos Resources Limited ('Argos') has simultaneously signed an identical contract with Polarcus, allowing Argos and Rockhopper to share the vessel for acquiring seismic data in each company's adjacent licences and other areas. This co-operative arrangement allows the companies to share mobilisation and demobilisation costs and to capture the technical and cost efficiencies resulting from a larger programme.

Sam Moody, Chief Executive of Rockhopper Exploration plc, commented: 'The primary objective of this 3D seismic acquisition programme is to define the aerial extent of the Sea Lion fan, following our oil discovery earlier this year, as well to examine other areas and play types within PL032, PL033 and adjacent areas, which will help us to identify future prospects.'

Tags: Rockhopper Exploration plc