Rockhopper's North Falkland mapping confirms drilling targets

Rockhopper's initial phase of mapping of prospects in North Falkland basin licenses PL032 and PL033 identified 1.9 Bbbl of unrisked recoverable reserves and P50 unrisked recoverable reserves of around 1.2 Bbbl.

Offshore Staff

HOUSTON -- Rockhopper's initial phase of mapping of prospects in North Falkland basin licenses PL032 and PL033 identified 1.9 Bbbl of unrisked recoverable reserves and P50 unrisked recoverable reserves of around 1.2 Bbbl.

The new mapping has identified five hydrocarbon plays in the acreage and confirmed the presence of multiple drilling targets. In addition, the 3D seismic has revealed that one of the exploration wells drilled by Shell in 1998, which encountered a thin sand with good hydrocarbon shows, is actually located at the very edge of a fan prospect that appears to thicken towards its center. The company now believes that this thicker part of the fan prospect could therefore contain commercially viable accumulations of hydrocarbons.

Rockhopper will now begin advanced work on the data, which will include AVO analysis, imaging studies, geochemical modeling, further detailed log analysis, depth conversion and reservoir modeling.

02/18/2008

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