Rockhopper Exploration which struck oil at its North Falkland basin Sea Lion exploratory well in May 2010 has received formal agreement from the Falkland Islands Government to the farm-out agreement reached with Premier Oil.
A socio-economic impact study on the effects of an oil development project on the Falkland Islands did not reveal any, “major new concerns which had previously escaped attention Director of Mineral Resources Stephen Luxton told Penguin News this week.