Rockhopper Exploration (RKH)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

18.39p
   
  • Change Today:
      0.21p
  • 52 Week High: 28.00p
  • 52 Week Low: 14.00p
  • Currency: UK Pounds
  • Shares Issued: 457.74m
  • Volume: 407,973
  • Market Cap: £84.18m
  • RiskGrade: 431

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 18.39p
Change Today 0.21p
% Change 1.16 %
52 Week High 28.00p
52 Week Low 14.00p
Volume 407,973
Shares Issued 457.74m
Market Cap £84.18m
RiskGrade 431

RKH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
45.41% above the market average45.41% above the market average45.41% above the market average45.41% above the market average45.41% above the market average
40.66% above the sector average40.66% above the sector average40.66% above the sector average40.66% above the sector average40.66% above the sector average
Price Trend
62.41% below the market average62.41% below the market average62.41% below the market average62.41% below the market average62.41% below the market average
7.07% above the sector average7.07% above the sector average7.07% above the sector average7.07% above the sector average7.07% above the sector average
Income Not Available
Growth
38.87% above the market average38.87% above the market average38.87% above the market average38.87% above the market average38.87% above the market average
1.69% below the sector average1.69% below the sector average1.69% below the sector average1.69% below the sector average1.69% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 4
strong_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 24-Jan-2020

Time Volume / Share Price
16:23 8,124 @ 18.40p
16:19 2,154 @ 18.33p
16:14 50,000 @ 18.38p
15:59 3,490 @ 18.46p
15:14 165 @ 18.25p

RKH Key Personnel

CEO Samuel John Moody
Chair David McManus
CFO Stewart MacDonald

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