Oct. 2012 - Rockhopper announced the completion of the Premier Oil farm-out agreement. Rockhopper will receive a $231 million cash payment and Premier will obtain a 60% interest and operatorship of Rockhoppers licenses off the Falkland Islands. The cash payment will see Rockhopper's share of Sea Lion fully funded through first oil which is expected 3Q 2017. Both companies are fully aligned on the project and expect to have a development concept by mid 2013. The partners are also discussing other Falklands area exploration prospects and a 2014 drilling campaign.

Jul. 2012 - Premier Oil has agreed to pay an initial $231 million to farm into Rockhopper Exploration's license interests in the Falkland Islands in the South Atlantic. Premier Oil will acquire a 60 percent interest in the licenses, with the deal including a provision for Premier to pay an additional $48 million for further exploration within the license areas and an additional $722 million to develop reserves found there (subject to the approval of a field development plan).

Apr. 2012 - Rockhopper Exploration has received a 90 percent chance of success in developing its Sea Lion field off the Falkland Islands, according to a report conducted by Gaffney, Cline & Associates. The report also gave other discoveries adjacent to Sea Lion, including Casper, Casper South and Beverly, a 75 percent chance of successful development. In its report, GCA gave a best estimate of gross contingent resources at Sea Lion and the adjacent discoveries of 385.9 million barrels, with 355.6 million barrels net to Rockhopper. The CPR also reports on a development concept for the Sea Lion field using an FPSO. The principal assumptions of the development concept include first oil occurring in 2016, with a plateau production rate of 70,000 barrels per day for the first three years of full production.

Apr. 2012 - Desire Petroleum reported that a joint 3D seismic program with Rockhopper Exploration, using the Polarcus Nadia, was completed in May 2011. Overall, an additional 349,901 acres (1,416 square kilometers) of data was acquired within Desire's licenses and adjacent open areas. The new seismic data is being integrated with reprocessing of the 2004 3D survey to provide a contiguous, merged volume over PL003, PL004 and most of PL005. The final processed 3D merge volume was delivered in early February 2012 and Desire says this will be the basis for a re-assessment of their prospect inventory. Results are expected later this year.

Dec. 2011 - Rockhopper Exploration has completed coring and logging operations at well 14/15-4z in the Falkland Basin. The sidetrack well, about 41 feet (12.5 meters) from the main wellbore, reached a total depth of 8,383 feet (2,555 meters) MD. A total of 377 feet (115 meters) of core was cut through the hydrocarbon-bearing Beverley, Casper South, Casper and Sea Lion reservoirs bringing the total amount of core cut during the entire drilling campaign to 1,493 feet (455 meters). Rockhopper says that drilling of the well has completed the commitments required to earn the 60 percent interest and operatorship of license PL004b. The well will now be plugged and abandoned.

Dec. 2011 - Rockhopper Exploration has made its third discovery in the north Falkland Basin. The 14/15-4 well penetrated multiple reservoir targets: Beverley, Casper South, Casper and Sea Lion Main Complex. A recently performed wireline logging and formation test have indicated that all four targets are hydrocarbon-bearing, and no water wet sands were observed in the well. The well also encountered hydrocarbons in the Beverley and Casper South reservoirs. The well penetrated the Beverley prospect near the crest of the structure. The gross reservoir package of 89 feet (27 meters) was approxiametly 33 feet (10 meters) thicker than prognosed, while net gas pay was 85 feet (25.8 meters). However, an analysis of mud logs indicates the gas is likely to be a wet gas. Rockhopper believes that the gas/oil contact observed in Casper at well 14/10-9 and Casper South at well 14/15-4 is likely to exist in Beverley. As a result, the company believes Beverley may be oil-bearing downdip. Furthermore, it was discovered that Casper South has a separate fan lobe, to the south of and apparently in communication with the Casper fan, which the company mapped to extend over an area of greater than 100 square kilometers with significant down-dip oil potential. The well also penetrated the Sea Lion Main Complex, about 7.5 miles (12.1 kilometers) from the 14/10-2 discovery well, 4 miles (6.3 kilometers) to the south of well 14/10-9 and 8.5 miles (13.8 kilometers) from the northern most successful appraisal well 14/10-7. Rockhopper believes the well is close to the southernmost limit of the Sea Lion field and at the outer edge of its former maximum case area. Rockhopper will now complete a short offset sidetrack to obtain core in the Beverley, Casper South and Sea Lion Main Complex formations. The company earned a 60 percent interest through the drilling of the well, which was previously controlled by Desire Petroleum.

Nov. 2011 - Rockhopper and Desire Petroleum have spud the 14/15-4 farm-in well on License PL004b in the Falkland Islands. Following completion of this well, Desire will have a 40 percent stake in the license, with Rockhopper having the remaining interest. The well is designed to investigate reservoir presence and hydrocarbon charge towards the southernmost mapped limit of the Sea Lion field. The well is also an exploration well on the Beverley prospect. Well 14/15-4 is located about 7.6 miles (12.1 kilometers) to the southwest of the 14/10-2 discovery well and 3.9 miles (6.3 kilometers) to the south of the 14/10-9 well. Rockhopper intends to drill to TD, then subsequently sidetrack to core should significant hydrocarbon charged reservoir be encountered in either Sea Lion Main Complex or Beverley. Initial drilling and logging operations should take about 20 days.

Nov. 2011 - Coring operations at sidetrack well 14/10-9z completed successfully with formation pressure test points and samples taken over the Kermit reservoir indicating residual oil saturation. Sixty meters of core was cut through Casper and Sea Lion, bringing the total amount of core cut during the entire drilling campaign to 1,115 feet (340 meters) and total depth drilled to 2,600m md. As planned, Rockhopper will plug and abandon the sidetrack and will release details in a future announcement regarding the spudding of the next well, target the most southerly extent of the SLMC and the Beverly prospect, located in license PL004b, which Rockhopper has farmed into with operatorship and an aggregate 60% interest.

Nov. 2011 - Rockhopper Exploration has found oil and gas in the Casper prospect in the North Falkland basin. The well was drilled 4 miles (5.9 kilometers) to the southwest of the 14/10-2 discovery well towards the southern edge of license PL 032. The well was designed to penetrate multiple targets in Casper, the Sea Lion Main complex and the Kermit Structure. Rockhopper said the well proved a high-quality reservoir package and oil column in both Casper and Sea Lion; and good quality sands with oil shows were also penetrated in Kermit. Casper was penetrated in a relatively updip position to the west of the structural low about 3 miles (4.8 kilometers) to the west of the 14/10-8 well. Reservoir quality was good with porosity of up to 27 percent and permeability of up to 232 md. Wireline logging and formation testing indicate 28 feet (8.4 meters) of net gas pay above 31 feet (9.6 meters) of net oil pay. Rockhopper believes the presence of the gas cap would likely boost oil productivity from Casper, and development of Sea Lion could include this location for a potential gas disposal well. At the Sea Lion complex, the well penetrated both the SL10 and SL20 lobes. Reservoir quality was good with porosity of up to 27 percent and permeability of up to 1,285 md. Net oil pay was 72 feet (22 meters) in the SL10 and 46 feet (14 meters) in the SL20. Also, a free water level with a 33 feet (10 meter) transition zone above was observed at 8,205 feet (2,501 meters) at the base of the complex. Rockhopper believes the well result will have a positive impact on the minimum case area for Sea Lion. At Kermit, a good quality reservoir package was encountered, but reservoir sands were water wet with shows. Rockhopper will now sidetrack the well in order to core both the Casper and Sea Lion formations. Operations are expected to take seven days, and then the well will be plugged and abandoned.

Oct. 2011 - Senergy has prepared a new competent person's report for Desire Petroleum's offshore acreage in the North Falkland basin. The report, which only focused on 40 percent of the company's northern licenses (Tranches C, D and F), identified 11 prospects in an area covered by the fast-tracked 3D seismic data of PL003 and PL004. Senergy evaluated Desire's leading prospects in the northern part of PL004, namely the Sea Lion Extension, Casper West, Casper East, Shona West, Shona East, Beverley, Jayne and Catriona, as well as the Ann/Orca South prospect in the Ann sub-area. The analysis also took into account the results of Rockhopper Exploration's recently completed 14/10-8 appraisal well to the north of the eastern part of PL004, and of Desire's revised equity interest in PL004 (Area 1 and 2) following the recently announced farm-out to Rockhopper. The CPR states that potential volumes are in the range of 638 to 1,207 MMbbl.

Oct. 2011 - Rockhopper Exploration has spud the 14/10-9 well in Production License 032. The eighth well to be drilled on the Sea Lion feature, well 14/10-9 is located about 3.6 miles (5.9 kilometers) to the southwest of the 14/10-2 discovery well. It is designed to investigate reservoir presence and hydrocarbon charge within the Sea Lion Main Complex towards the southern edge of Rockhopper's acreage. The well is also an exploration well on the eastern side of the Casper prospect. Drilling operations should take about 33 days. The 14/10-9 exploratory well lies in Production License 032 near the Sea Lion discovery area. The well is wholly owned and operated by Rockhopper.

Oct. 2011 - Rockhopper Exploration Limited has agreed to the terms of a farm-in agreement with Desire Petroleum for the northwestern acreage of license PL004, known as Area 1. Rockhopper will increase its stake in Areas 1 and 2 of license PL 004. The company believes this section contains the extension to the Sea Lion field and the western part of the Beverley prospect. The northeastern part of License PL 004, known as Area 2, is believed to contain the Jayne prospect and the eastern part of the Beverley prospect. Under the terms of agreement with Desire, Rockhopper will obtain operatorship of Area 1 and increase its interest of 7.5 percent to 60 percent. The group will also pay the full cost of drilling one well in Area 1. For Area 2, Rockhopper will increase its stake from 7.5 percent to 25 percent with Desire remaining as operator.

Oct. 2011 - Rockhopper Exploration announced that the 14/10-8 well offshore the Falkland Islands is dry. The 14/10-8 well was designed to look for additional oil at its Sea Lion complex, as well as its Casper and Kermit prospects. The well found 404 feet (123 meters) of total gross reservoir package, but the sands were also water-logged. Rockhopper said that the thickness of the reservoir encountered in the well has increased the company's confidence that good-quality reservoir is likely to be present in other relatively low amplitude areas within the Sea Lion Main Complex. Rockhopper stated that the results of the wells 14/10-7 and 14/10-8 have demonstrated that the reservoir is well-developed outside the areas of high amplitudes, therefore, increasing the areal extent of the low- and mid-case for the SLMC post well 14/10-8, even though the well was water-wet. The new resource estimate for the complex ranges between 844 MMbbls to 1.4 Bbbls.

Sep. 2011 - Rockhopper Exploration has spud the 14/10-8 exploratory well off the Falkland Islands. The operator stated that the well is designed to investigate reservoir and hydrocarbon presence within the Sea Lion Main Complex in an area of relatively low amplitudes, and it is also an exploration well on both the Casper and Kermit oil prospects. Drilling operations should take about 28 days. Rockhopper also said that it is in discussions with Diamond Offshore for the assignment of a further drillign slot to which the Company would be required to commit prior to the spudding of well 14/10-9. The 14/10-8 exploratory well lies in Production License 032 just outside of the Sea Lion discovery area. The well is wholly owned and operated by Rockhopper.

Sep. 2011 - Rockhopper announced it has outlined a development plan for its Sea Lion discovery in the North Falkland Basin. The company has created a development plan based on recoverable resources in the range of 350 MMbbls, using a leased FPSO, with first oil targeted for early 2016. The operator also assumes that maximum production could reach 120,000 bopd by 2018, and development costs connected to first oil expected to be in the range of US $2 billion. Rockhopper plans to complete its concept engineering studies in the first quarter of 2012, and shortly thereafter to commence a FEED. The completed FEED should be submitted to the Falkland Islands government in the first quarter of 2013, by which time the company will award contracts to the FPSO provider and subsea contractor. Sea Lion is located on the eastern basin margin of the North Falkland Basin, and is operated by Rockhopper.

Sep. 2011 - Rockhopper Exploration has completed the fifth well, 14/10-7, on the Sea Lion Main Complex offshore Falkland Islands. The operator believes the well has de-risked the area of relatively minor amplitudes within the complex and that the edges of the sand lobes are likely to be below seismic tuning thickness. Further work is required to determine the extent of the SL20 lobe to the north of the well. Furthermore, well 14/10-7 proved a high-quality reservoir package and oil column. Wireline logging and formation testing indicate that the well found 82 feet (25 meters) of net pay in the Sea Lion Main Complex. Additionally, the company spotted 3 feet (1 meter) of net pay in a thin lower sand with a deeper oil water contact than wells 10-2 and 10-5. The operator will now plug and abandon the well. Sea Lion is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands.

Aug. 2011 - Rockhopper has spud the 14/10-7 exploratory well in Production License 032 off the Falkland Islands. The well lies about 2 miles (3.3 kilometers) to the northwest of the 14/10-2 discovery well, just outside of the Sea Lion Discovery area. The well will investigate reservoir and hydrocarbon presence towards the northern limit of the mapped extent of the Sea Lion Main Complex within an area of relatively low amplitudes. Drilling operations should take about 32 days. Sea Lion is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands.

Aug. 2011 - Rockhopper Exploration announced that fast-track seismic data, over its acreage on licenses PL 032 and 033, reveals that the Sea Lion main complex extends farther to the south and may hold roughly 608 million barrels. Rockhopper has also identified additional prospects in the area of its Sea Lion discovery. This initial interpretation, combined with existing well data, indicates that the SLMC comprises two fan lobes sourced from the same main feeder channels just to the east of the 14/10-5 and 14/10-2 wells. The company said that the two lobes are shown to be in pressure communication. As for the new prospects, Casper and Kermit, Rockhopper estimates the combined best-case resource to be about 250 million barrels. Rockhopper is committed to drilling three more wells with Diamond Offshore semisub, and may drill additional wells depending on the results of an upcoming appraisal well. Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands.

Aug. 2011 - Rockhopper Exploration has completed appraisal well 14/10-6 on the Sea Lion field offshore Falkland Islands. The purpose of the well was to investigate reservoir and hydrocarbon presence within the company's mid-case Sea Lion mapped area. Well 14/10-6 was the first to penetrate the Sea Lion main fan to the west of the mapped structural low that runs north-south through Sea Lion. The well proved the reservoir is thick, with high-quality hydrocarbons. The operator completed logging operations, also several mini DST's within the main fan complex and oil successfully flowed from the main fan. Rockhopper will incorporate the information with existing data to give an estimate of the potential well productivity. Once operations are complete, the company will drill an exploration well outside of the Sea Lion discovery area. The well is designed to investigate the presence of reservoir and hydrocarbon charge towards the northernmost currently mapped extent of the Sea Lion main fan.

Jul. 2011 - Rockhopper Exploration has spud the 14/10-6 appraisal well in Production License 032 off the Falkland Islands. The well, the third appraisal well on the Sea Lion field, lies about 2.5 miles ( 4.1 kilometers) to the west of the 14/10-2 discovery well, on the western side of the structural low at top reservoir, and 1.4 miles (2.3 kilometers) to the southwest and 46 feet (14 meters) updip from the 14/10-4 appraisal well. The well will investigate reservoir and hydrocarbon presence outside what the company considers the minimum case area. Drilling operations should take about 38 days. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Jul. 2011 - Rockhopper has secured an additional well slot on the Ocean Guardian semisub to drill an another appraisal well on the Sea Lion feature. The operator will drill well 14/10-6, shortly, followed by an additional three wells in succession. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Jun. 2011 - Rockhopper Exploration said its Sea Lion appraisal well 14/10-5 in the North Falkland basin has flowed oil at commercially viable rates. The appraisal well flowed at a stabilized rate of 5,508 barrels of oil per day and had a maximum stabilized flow rate of 9,036 of natural gas per day. A total area of 282 feet (86 meters), incorporating 259 feet (79 meters) of the reservoir, was perforated between 7,805 and 8,087 feet (2,379 and 2,465 meters) over the Sea Lion main fan complex. No lower fan sands were perforated on this flow test, stated the operator. Rockhopper believes that the flow rates achieved are commercially viable, and the company will follow up with another appraisal well to determine the extent of the Sea Lion resource. The Ocean Guardian semisub will now drill well 14/10-6, located about 3 miles (4.5 kilometers) to the west of well 14/10-5. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Jun. 2011 - Rockhopper Exploration announced appraisal well 14/10-5, drilled about 1,969 feet (600 meters) north of the discovery well, reached a total depth of 8,944 feet (2,726 meters). The well was successful, proving a very thick, high-quality reservoir package and a substantial oil column. The company says the geological prognosis once again came in very close to prediction. The appraisal well was designed to appraise the Sea Lion main fan reservoir and investigate hydrocarbon column and reservoir distribution. The Sea Lion reservoir sands were encountered 72 feet (22 meters) up-dip from the 14/10-2 discovery well at a depth of 7,802 feet (2,378 meters). A total reservoir package of 361 feet (110 meters), compromising one main sand and three thinner sands, was encountered with a net-to-gross of 91% in the main sand and 25 to 80% in the lower sands. The main gross oil column in the main Sea Lion fan is now 410 feet (125 meters), said Rockhopper. The company now intends to test the well. Testing will consist of a mini DST and a fully engineered drill stem test, and it should take about one month to complete. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

May. 2011 - Desire Petroleum has completed a 3D seismic acquisition program covering its license in the North Falkland basin, off the Falkland Islands. The seismic data covered an area of about 349,901 acres (1,416 square kilometers) in Tranches C, D, F and adjacent open areas. Desire said it curtailed plans to extend the survey further to the south due to bad weather. Combined with the company's existing data, Desire almost has full coverage of the Eastern Flank Play fairway and has extended coverage of the Liz area, Ann, Pam and Helen prospects. Desire has pinpointed two new leads, Beverley and Shona, from the preliminary raw stack data. The Shona lead is the same stratigraphic level as the Rockhopper Sea Lion discovery and extends north to the block boundary of Tranhce D, while the Beverley lead is at a shallower stratigraphic level and is mapped wholly within Tranche D. The company is having the fully processed data for the northern part of Tranche D and the Ann prospect fast-tracked, with the data expected for availability in July. A fully merged data set covering all prospective areas is expected by year-end.

Apr. 2011 - Rockhopper Exploration announced that its 14/10-4 appraisal well on the Sea Lion discovery has confirmed a new low case estimate of about 516 million barrels of oil-in-place at the field, of which 30% can be recovered, the company stated in a press release. Rockhopper also believes the well reservoir is in communication with the original 14/10-2 discovery well. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Mar. 2011 - Rockhopper Exploration has discovered a significant oil column in appraisal well 14/10-4 in the Falkland Islands. Well 14/10-4 uncovered 108 feet (33 meters) of net pay in good quality reservoir with 20% average porosity. The well was drilled to a total depth of 9,190 feet (2,801 meters), finding the oil-water contact level at 8,127 feet (2,477 meters). The well was spudded last month and lies just over 1 mile (2 kilometers) away from the 14/10-2 discovery well. It was designed to investigate just how deep the reservoir is, stated the operator. The top of the Sea Lion reservoir sands were encountered 216 feet (66 meters) downdip from the 14/10-2 discovery well. A total reservoir package of 351 feet (107 meters), comprising four main sands was encountered with a net-to-gross of 76%. Ninety-eight feet (Thirty meters) of net pay has been encountered in the upper of the four sands, representing the main Sea Lion southern fan. The gross oil column now proven in the main Sea Lion southern fan is 341 feet (104 meters). Rockhopper believes the results of this successful first appraisal well will significantly increase the contingent P90 volume for this oil discovery. The P50 and P10 contingent volumes will be defined as the appraisal program progresses through the remainder of 2011. The well will now by plugged and abandoned as planned. Following this well, Rockhopper will commence work on development planning for the Sea Lion discovery.

Feb. 2011 - Rockhopper spudded appraisal well 14/10-4 on Feb. 19, 2011. 14/10-4 is the first appraisal well drilled on the Sea Lion feature situated on Production License 032, stated the operator; and it is designed to investigate reservoir and hydrocarbon columns downdip of the Sea Lion 14/10-2 discovery well. The well should reach a targeted depth of 9,843 feet (3,000 meters) to investigate the possibility of deeper sands than those encountered in the discovery well. Exploratory drilling should take about 38 days.

Feb. 2011 - Rockhopper Exploration announces that exploration well 14/10-3 has encountered good quality reservoir from 7,956 to 8,317 feet (2,425 to 2,535 meters) in a sequence of four main sandstone intervals. Within these four main sand intervals, 210 feet (64 meters) of gross reservoir sand was encountered with net sand of 177 feet (54 meters). Logging was performed, indicating that three of the sands encountered have high water saturations with hydrocarbon shows during drilling and in cores. A drill stem test was performed on sand three and during the test water was produced into the well. Further technical work is required to better understand the well. Once logging interpretations are completed, the company intends to plug and abandon the well. Exploratory well 14/10-3 was drilled to a total depth of 9,285 feet (2,830 meters). The well was designed to explore the northern lobe of the Sea Lion fan feature and is the first well drilled in that area. The Ocean Guardian semisub will move to another location and drill appraisal well 14/10-4, which is located 1.4 miles (2.3 kilometers) north west of the 14/10-2 Sea Lion discovery well.

Jan. 2011 - Rockhopper Exploration spudded the 14/10-3 exploratory well using the Ocean Guardian semisub, on Jan. 13, 2011. The well, located on the undrilled northern lobe of the Sea Lion fan system, will also penetrate the distal, downdip portion of the newly-identified and underyling S2 fan body. Drilling operations should take about 38 days to reach a total depth of 9,843 feet (3,000 meters). The well is situated 5 miles (8 kilometers) northwest of the Sea Lion 14/10-2 discovery well on License PL032. Rockhopper wholly owns and operates the license. Once drilling ends, Rockhopper will drill an appraisal well, 14/10-4, on the southern lobe of the Sea Lion fan system within the discovery area, before the rig is released.

Oct. 2010 - Rockhopper Exploration formally signed a contract for marine seismic acquisition services with Polarcus Limited for the use of the MV Polarcus Asima seismic vessel. Under the contract, Rockhopper will acquire a 3D seismic survey covering licenses PL 032 and PL 033 that were not previously defined by 3D, as well as adjacent areas. The seismic survey should begin by early January 2011. A separate contract to process the acquired data will be issued shortly. Monarch Geophysical Services Limited was retained to provide specialist acquisition and processing supervision throughout the 3D seismic project. The main objective of this 3D seismic acquisition program is to define the aerial extent of the Sea Lion fan, and other areas and play types within PL 032, PL 033 and adjacent areas, to help identify future prospects, stated Sam Moody, Chief Executive of Rockhopper Exploration.

Oct. 2010 - Rockhopper Exploration announced plans for its acreage offshore North Falkland basin, which will include appraising the Sea Lion discovery, shooting additional 3D seismic across the extent of the North Falkland Basin, and drilling further exploration and appraisal wells on its Northern acreage. Diamond Offshore, the owner and manager of the Ocean Guardian semisub, which is operating in the Falkland Islands and is currently engaged in the drilling campaign, has proposed to Rockhopper a continuation of the drilling campaign under a new rig contract, including a possible three firm wells with five options. The execution of the contract would depend on the company entering into an escrow to provide sufficient funds to cover the day rate and other obligations, and to the agreement of a contract acceptable to both parties. Moreover, Rockhopper has entered into two letters of intent with a seismic contractor to acquire additional seismic using two separate vessels. Contracts should be finalized soon, and if so, work should begin before the end of January 2011. New seismic data acquired will allow Rockhopper an opportunity to better analyze the Sea Lion sandstone fans, as well as allowing more detailed and accurate mapping of additional exploration upside within the basin.

Sep. 2010 - Rockhopper Exploration has reported that the initial MDT samples from the Sea Lion-1 well were confirmed as medium grade crude oil of 26.4 to 29.2 API gravity. The well was reentered in September and flowed at sustained rates in excess of 2,000 bopd with a maximum rate of 2,304 bopd. Rockhopper states the flow test results are in line with pre-test expectations. Sea Lion-1 produced no water, no H2S and negligible CO2; samples from the well were collected and will be further analyzed in the UK. The well will now be plugged and abandoned. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Sep. 2010 - The Ocean Guardian semisub is at the location of the Sea Lion 14/10-2 discovery well, and operations to carry out a flow test on the well is underway. Operations should last about 30 days. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Aug. 2010 - Rockhopper Exploration announced the Ernest 26/6-1 exploration well was plugged and abandoned as a dry hole following the completion of all logging runs. The Ocean Guardian semisub will now proceed to the Sea Lion location to carry out a flow test on well 14/10-2. The flow test is expected to give an early indication of the production potential of the reservoir sands, and is a part of the planning process to provide development options. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Jul. 2010 - Rockhopper spud the Ernest 26/6-1 well in License PL024. The well is targeting an estimated depth of 7,874 feet (2,400 meters), and drilling should take about 30 days. The Ocean Guardian semisub is performing the drilling operations. Once completed, the rig will return to the Sea Lion 14/10-2 well to conduct flow testing on the oil discovery. Rockhopper wholly owns and operates the Ernest and Sea Lion wells.

Jul. 2010 - Rockhopper Exploration provided results following an analysis of wireline MDT samples obtained from its Sea Lion 14/10-2 oil discovery well. The samples analyzed were confirmed as medium-grade crude with an API of 26.4 to 29.2 degree. The wax contact of 18.4% to 20.8% is typical for a lacustrine sourced crude oil and is significantly lower than other producing oil fields worldwide, according to Rockhopper. Furthermore, the viscosity, gas oil ratio, FVF and sulfur are better than anticipated, said the company. The Sea Lion discovery is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the field.

Jun. 2010 - Rockhopper has updated the analysis of its Sea Lion prospect in the North Falkland Basin. The 14/10-2 well, drilled to a depth of 9,003 feet (2,744 meters), and following completion of final logging, was suspended for future testing. Rockhopper will test the well soon and test equipment is currently being mobilized. The well penetrated a regional seal between 7,382 feet (2,250 meters) and 7,789 feet (2,374 meters). Based on data, it appears that all sands encountered beneath this regional seal are charged with oil and no oil water contacts were encountered. The top oil sand was encountered at 7,789 feet (2,374 meters), and the base of the lowest oil sand level was encountered at 8,501 feet (2,591 meters). The vertical oil column is about 712 feet (217 meters) with a total net pay of 174 feet (53 meters) in seven identified pay zones. The thickest zone is approximately 98 feet (30 meters) gross. Pressure data suggest the possibility of two separate oil columns, but this will be confirmed by a full well test. The main Sea Lion fan has a net pay interval of 115 feet (35 meters), and additional underlying sands have a net pay totaling 59 feet (18 meters). The Sea Lion prospect is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the prospect.

May. 2010 - Rockhopper confirmed that the exploration well 14/10-2 on the Sea Lion prospect has been suspended for future testing. Rockhopper is further analyzing the results of the well and hopes to provide initial estimates of the potential size of the discovery in the upcoming weeks. The Sea Lion prospect is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the prospect.

May. 2010 - Rockhopper announced that the Ocean Guardian semisub completed wireline fluid and pressure testing, and obtained multiple pressure readings and fluid samples from the 14/10-2 well on the Sea Lion prospect. The obtained samples will be shipped to a dedicated laboratory since the semisub is not equipped to perform an analysis. However, observations suggest that the samples are oil. The sample chambers filled rapidly, indicating a good quality reservoir with no evidence of any free water. Rockhopper plans to run a liner and will apply to suspend the well for future testing at a later date. The Sea Lion prospect is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the prospect.

May. 2010 - Rockhopper Exploration has obtained additional logging data from the 14/10-2 well on the Sea Lion prospect. The well encountered 174 feet (53 meters) of net pay distributed in multiple zones, with the thickest net pay of 82 feet (25 meters). The average porosity rate for these pay zones is 19%, with peaks of 28%. No oil/water contact has been encountered. The company will now acquire additional logging information and will collect fluid samples. The Sea Lion prospect is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the prospect.

May. 2010 - Drilled by Diamond Offshore's Ocean Guardian semisub, the 14/10-2 well on the Sea Lion prospect reached a depth of 9,003 feet (2,744 meters). Data collected indicate the well is an oil discovery, making it the first in the North Falkland Basin. Wireline logs and logging data show the well encountered a 492 foot (150 meter) gross interval with 174 feet (53 meters) of net pay distributed in multiple pay zones. The thickest zone has a net pay of 82 feet (25 meters), with an average porosity of 19%. Additional logging information will be collected before the operator either decides to plug and abandon the well or suspend the well for future testing. The Sea Lion prospect is located on Block 14/10 in Production Licenses 032 and 033 on the eastern basin margin of the Falkland Islands. Rockhopper wholly owns and operates the prospect.

Apr. 2010 - Rockhopper Exploration spudded the 14/10-B well on the Sea Lion prospect in PL 032. The Ocean Guardian semisub should take roughly 34 days to reach a targeted depth of 8,858 feet (2,700 meters). Sea Lion is located on the eastern basin margin of the North Falkland Basin of the Falkland Islands. Rockhopper wholly owns and operates the prospect.

Feb. 2010 - Rockhopper, Desire Petroleum and Diamond Offshore formalized an agreement, whereby Rockhopper will assume two slots during an upcoming drilling campaign scheduled for the Ocean Guardian semisub in the Falklands. As a result, the Ocean Guardian will drill the Sea Lion and Ernest prospects for Rockhopper after first drilling a well on the Liz prospect, which is operated by Desire with a 92.5% stake (Rockhopper holds the remaining 7.5%). Drilling on the Sea Lion prospect, which is 100% owned and operated by Rockhopper, will commence when the rig is released from Liz, which is slated to spud in mid-February. The Ernest well will be drilled with one of the next two slots. Liz is located on the western margin of the North Falkland Basin, Sea Lion is located on the eastern basin margin of the North Falkland Basin, and Ernest is located in license PL024.