
Argentine President Javier Milei warned Thursday that his government will respond with all necessary diplomatic measures to protect the country's interests in the face of the advancing Sea Lion oil project, operated by Rockhopper Exploration and Navitas Petroleum in the North Falklands Basin. The remarks, delivered during the ceremony marking the 44th anniversary of the war, represent the Milei government's firmest stance yet on a project that has just cleared a decisive financial milestone.

Argentine President Javier Milei on Thursday reaffirmed his country's sovereignty claim over the Falklands Islands, warned of a diplomatic response to British oil exploration in the area, and announced that 10% of fiscal revenue from privatizations will be allocated to purchasing weapons and equipment for the armed forces.

Argentina has reportedly put on hold its plan to relocate its embassy in Israel to Jerusalem after diplomatic friction linked to offshore oil drilling near the Falkland Islands, Israeli broadcaster Channel 12 reported over the weekend.

Rockhopper Exploration half year results indicate that the UK oil and gas company is more hopeful than ever that a final investment decision will come this year on the Sea Lion oil project in the Falkland Islands, after it secured a successful capital raise of up to US$ 140 milliom. Rockhopper holds a 35% interest in the project with the Israeli operator Navitas Petroleum holding the remaining 65%.

AIM Oil and gas exploration company Rockhopper Exploration said it was confident it would receive a €31m (£26.8m) insurance payment in a long-running dispute linked to restrictions on its operations off the coast of Italy.

A final investment decision (FID) for the Sea Lion development offshore the Falkland Islands could be reached in mid-2025, according to Rockhopper, which is partner in the project with the operator Navitas Petroleum from Israel.

Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin (“NFB”), has announced it has put in place an insurance policy to cover the event that the Italian Republic succeeds in its attempt to have the Rockhopper Ombrina Mare Arbitration Award annulled and has also signed a share purchase agreement with Zodiac Energy Limited to exit its other Italian assets.

Rockhopper Exploration PLC has released a corporate update in which it refers to the recent release published by Navitas Petroleum LP on the Sea Lion development in the North Falkland basin. The release includes an updated development plan to align with their static and dynamic reservoir models, resulting in the increase in certified resources in an updated NFB independent resource report conducted by Netherland Sewell & Associates on behalf of Navitas.

Rockhopper Exploration oil and gas company which last year agreed to jointly develop the Sea Lion project at the North Falkland Basin with Israel's Navitas as leading financer and operator, announced that following discussions, the Falkland Islands Government had agreed to extend the company's licenses at the South Falkland Basin.

The Argentine Secretary of Malvinas affairs has included another oil company with interests in the Falklands hydrocarbons industry in the “list of bad boys” for allegedly operating without authorization from Argentina.