Rockhopper makes progress in Egypt as it prepares division's disposal

Oil and gas company Rockhopper Exploration updated the market on the Abu Sennan concession in Egypt on Wednesday.

The AIM-traded firm explained that, through its subsidiary Rockhopper Egypt, it held a 22% working interest in Abu Sennan.

“The development well, Al Jahraa-7, was spudded on 25 May, and reached a total depth of 3,970m measured depth in the Kharita formation on 23 June,” the Rockhopper board said in its statement.

“A series of well tests of the Abu Roash-E and Bahariya reservoirs has commenced, initially with the rig on location and subsequently following release of the rig.

“These operations remain ongoing.”

Rockhopper also said the third Al Jahraa field development well of the campaign - Al Jahraa-12 - was spudded on 4 August.

The well was being drilled as a deviated hole to appraise the Abu Roash-C downdip of the Al Jahraa-3 well, and in the water leg.

In addition, it said it would further explore the potential of the Bahariya reservoirs, with the well expected to take around 55 days to drill, test and complete.

Current production from Abu Sennan was approximately 5,100 barrels of oil equivalent per day gross, with 1,120 barrels net to Rockhopper's 22% working interest.

“Rockhopper's disposal of Rockhopper Egypt, as announced on 23 July, is subject to [the] satisfaction of customary conditions precedent and is expected to complete during the fourth quarter,” the board added.