Rockhopper Exploration (RKH)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

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20.75p
   
  • Change Today:
      0.35p
  • 52 Week High: 39.15p
  • 52 Week Low: 17.40p
  • Currency: UK Pounds
  • Shares Issued: 457.74m
  • Volume: 1,439,700
  • Market Cap: £94.98m
  • RiskGrade: 264

Rockhopper makes progress with Egyptian drilling, receivables

By Iain Gilbert

Date: Monday 12 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Oil and gas company Rockhopper Exploration has seen gross daily production from its assets on the Abu Sennan concession in Egypt hit 3,800 barrels of oil per day, with an improving payment situation in the country too.
Rockhopper, which has a 22% interest in the Abu Sennan concession, said its development well Al Jahraa 6 was successful in its primary objective of showing Abu Roash-C as an infill oil producer but also encountered good oil shows in the Abu Roash-D, E, G and made a new oil discovery in the deeper Bahariya section.

The second Al Jahraa field development well, Al Jahraa 10, reached total depth on 16 October in the Abu Roash-F Formation. Rockhopper said operations were ongoing at the site in order to test levels and put the well into initial production on the most productive horizon.

The AIM-listed company netted 840 of the 3,800 barrels of oil produced per day at Abu Sennan.

Elsewhere, exploration well ASZ-1X located on Prospect S, the first of two commitment wells to be drilled in the first phase of the new concession, was spudded on 8 November.

Lastly, Rockhopper said it was continuing to experience "an improving payment situation" in Egypt - with a number of payments from Egyptian General Petroleum towards its outstanding receivables balance being made in recent months.

As of 31 October, Rockhopper's EGPC receivable balance was approximately $1.9m.

Chief executive Sam Moody, said: "We are delighted to have made real progress with this drilling programme in Egypt and particularly to have produced commercial volumes of oil from the Bahariya formation for the first time."

As of 0830 GMT, Rockhopper shares had picked up 3.80% to 32.90p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RKH Market Data

Currency UK Pounds
Share Price 20.75p
Change Today 0.35p
% Change 1.72 %
52 Week High 39.15p
52 Week Low 17.40p
Volume 1,439,700
Shares Issued 457.74m
Market Cap £94.98m
RiskGrade 264

RKH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.79% above the market average43.79% above the market average43.79% above the market average43.79% above the market average43.79% above the market average
29.29% above the sector average29.29% above the sector average29.29% above the sector average29.29% above the sector average29.29% above the sector average
Price Trend
22.65% below the market average22.65% below the market average22.65% below the market average22.65% below the market average22.65% below the market average
3.85% above the sector average3.85% above the sector average3.85% above the sector average3.85% above the sector average3.85% above the sector average
Income Not Available
Growth
39.10% above the market average39.10% above the market average39.10% above the market average39.10% above the market average39.10% above the market average
12.9% below the sector average12.9% below the sector average12.9% below the sector average12.9% below the sector average12.9% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 1
Sell 0
Strong Sell 1
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RKH Dividends

No dividends found

Trades for 23-Aug-2019

Time Volume / Share Price
16:28 2,000 @ 20.77p
16:22 1,800 @ 20.65p
16:17 247 @ 20.77p
16:14 340 @ 20.65p
16:13 224 @ 20.65p

RKH Key Personnel

CEO Samuel John Moody
Chair David McManus
CFO Stewart MacDonald

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