Published 08th June, 2010
The North Falkland Basin's Rockhopper Exploration has announced the first contingent oil resource in the Falklands.
The major discovery, from the company's Sea Lion exploration project, has hit a well of medium gravity crude oil with a 217 metre gross oil column. Drilling has been suspended pending the arrival of further test equipment, but Rockhopper is keen to progress as quickly as possible.
The test well appears to have tapped into a regional seal which includes an area of seven 'pay zones' so far identified and has created a new 'play fairway' in the licenced areas PL032/033. Rockhopper described the find as having "significant potential" and it will focus on further exploration of the area.