Rockhopper upbeat on latest developments at Abu Sennan in Egypt

Rockhopper Exploration

13.45p

15:13 15/11/24

1.13%

0.15p

Oil and gas company Rockhopper Exploration updated the market on operations at the Abu Sennan concession in Egypt on Wednesday, where through Rockhopper Egypt, it holds a 22% working interest.

Oil & Gas Producers

8,043.72

15:45 15/11/24

1.32%

105.17

The AIM-traded firm said the commitment well, ASH-2, was spudded on 21 October, and reached a total depth of 4,030 metres measured depth in the Alam El Bueib Formation on 22 November.

It said the well was drilled as a vertical hole to appraise the Alam El Bueib reservoir to the water supply well of the existing well ASH-1ST2, which currently produced 340 barrels of oil per day.

Petrophysics indicated 50 metres of net oil pay in ASH-2, and modular formation dynamic tester pressure data indicated that the reservoir was un-depleted, close to initial reservoir pressure.

The well was completed, perforated and tested with the rig on site, with results described as “encouraging” by the board.

The rig was released on 10 December, and the well would be tested at stabilised rates once the rig had moved off site.

At Al Jahraa-12, formerly WI-1, Rockhopper said the deviated development well was spudded on 4 August and reached a total depth of 4,040 metres measured depth in the Kharita Formation on 2 September.

Operations were ongoing to complete the well as an AR-C reservoir water injector, as was the primary objective for the well.

While there was indication of oil pay in the Bahariya, the interval did not flow on test, the company reported.

At Al Jahraa SE-1X, Rockhopper said that following a successful frac job, production from the AR-C in the well had increased from around 200 barrels of oil per day to about 450 barrels per day.

It said current production from Abu Sennan was approximately 5,100 barrels of oil equivalent per day gross, or 1,120 barrels net to Rockhopper's 22% working interest, excluding production from ASH-2 which was awaiting final commissioning.

“Rockhopper's disposal of Rockhopper Egypt, as announced on 23 July, is subject to satisfaction of final conditions precedent, including United Oil and Gas shareholder approval and is expected to complete during January,” the Rockhopper board said in its statement.

At 1159 GMT, shares in Rockhopper Exploration were up 0.29% at 14.95p.