Sea Lion find points towards oil

Rockhopper Exploration has provided a further update on its Sea Lion discovery in the offshore North Falklands basin.

Offshore staff


PORT STANLEY -- Rockhopper Exploration has provided a further update on its Sea Lion discovery in the offshore North Falklands basin.

The semisub Ocean Guardian has completed wireline fluid and pressure testing, also obtaining multiple pressure readings and fluid samples.

The rig is not equipped to analyze these samples, which will therefore have to be shipped to a dedicate laboratory. However, observations to date suggest that the samples are oil. Also, the sample chambers filled rapidly, indicating a good-quality reservoir with no evidence of free water.

Pressure data were sound, Rockhopper adds, with most of the test points located successfully in a good-quality reservoir. Pressure readings suggest there may be two separate oil columns. No oil/water contacts or water sands were encountered during drilling.

The company intends to run a liner and apply to suspend the well for testing at a later date.

5/10/2010

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