Continental Focus, International Reach

Rockhopper Updates Egypt

Sunday, January 6, 2019

Rockhopper Exploration reported that current production from the Abu Sennan concession is approximately 3,800 boepd, broadly in line with average production rates throughout 2018.

TheĀ Al Jahraa-10 well, during Q4, reached total depth in the Abu Roash-F formation. Oil pay was calculated in the Abu Roash-C and Abu Roash-D levels. Following testing operations, the well was brought into production from Abu Roash-C at a rate of 130 bpd gross, and subject to further increase. Upside potential exists in Abu Roash-D which is being evaluated for possible acid stimulation.

Exploration well ASZ-1X located on Prospect S was spudded on 8 November 2018 and was the first of two commitment wells to be drilled in the first phase of the new concession. An oil discovery was made in the Abu Roash-C level with preparations underway to test and produce. The operator has applied to EGPC for a development lease over the discovery.

Following joint venture approval, an active drilling program has been agreed for 2019 including the drilling of one exploration well, two development wells and a water injection well. Activity in 2019 continues to target the Al Jahraa field, as well as further exploring the concession. Drilling is expected to commence in Q1.

The company also revealed that it is continuing to see an improvement in the payment situation in Egypt. At the end of 2018, Rockhoppers EGPC receivable balance was approximately $1.5 million.