Rockhopper Exploration has provided an update on its previously announced Heads of Terms with Navitas Petroleum LP to farm into the Sea Lion project in the North Falkland Basin.
Rockhopper Exploration PLC on Tuesday said it has signed a milestone farm-in deal at the Sea Lion project in the Falkland Islands. Rockhopper shares were 30% higher in early trade in London at a price of 19.44 pence each. Premier was 13% higher at 114.62p.
The recent announcements by Rockhopper PLC and Premier Oil referred to the development of the Sea Lion project in the Falkland Islands, have triggered a reaction from the Argentine foreign ministry.
Rockhopper Exploration PLC on Tuesday said it has submitted an early information memorandum to potential lenders for the Sea Lion project in the Falkland Islands.
Rockhopper Exploration PLC on Tuesday said its loss narrowed in 2018 as it progresses on field development in the Falkland Islands. The oil & gas exploration and production company's loss narrowed in 2018 to US$ 7.1 million from US$ 9.0 million a year before, as revenue climbed to US$ 10.6 million from US$ 10.4 million.
Argentina has launched its first offshore bidding round in nearly three decades. The country's energy secretariat published details regarding bidding terms and conditions for public bidding for exploration licenses.
Rockhopper Exploration plc has provided its latest operational and corporate update which includes the North Falkland Basin Sea Lion project and has announced that the technical engineering is approaching conclusion and a settlement on the Eirik Raude rig dispute has been reached.
Falkland Islands oil and gas producer Rockhopper Exploration Plc has announced that its net contingent oil reserves have doubled to more than 300 million barrels, and independent experts are now eyeing this as nearly billion-barrel basin.
A statement released earlier this afternoon from the Falkland Islands Government regarding the UN announcement of the extension of the Argentine continental shelf states that the announcement makes “no adjudication on the sovereignty of the Falkland Island and has no implications for the sovereignty of the Falkland Islands”.
Premier Oil provided on Wednesday a Trading and Operations Update ahead of its 2015 Full Year Results which will be announced on Thursday 25 February 2016, which included an upbeat on its Falkland Islands operations mainly at the Sea Lion field.