
Rockhopper Exploration’s announcement this week that they expect to begin pumping oil in 2016, set the international media off on a further round of speculation about future wealth, but Falklands stakeholders and interested parties are taking a more cautious approach.

British oil group Rockhopper Exploration has unveiled plans for a 2 billion dollars investment in the Falkland Islands, a move which will transform the remote territory into a new oil province.

The commerciality of the Falkland Islands Rockhopper Exploration’s Sea Lion oilfield development shouldn’t be significantly impacted by logistical problems arising from Argentina’s claim over the sovereignty of the Islands, according to analysts at the Royal Bank of Scotland.

Monday morning Rockhopper Exploration announced the spudding of its latest exploration well, 14/10-7, to further test the Sea Lion oil discovery in Falkland Islands waters.

Rockhopper Exploration PLC upgraded its estimates of how much oil it could find off the Falkland Islands, boosting hopes that the remote territory in the South Atlantic could become a new oil province.

Rockhopper Exploration said on Tuesday an oil discovery in Falkland Islands waters extends to the west of the original well, adding to hopes that the oil find is large enough to open up a new province in the remote South Atlantic.

Falklands’ Rockhopper Exploration, the oil and gas explorer, pressed ahead with its hunt for oil in the North Falklands with the drilling of its third appraisal well on the Sea Lion Discovery feature last week.

Rockhopper Exploration plc announced on Thursday a further drilling of four wells offshore the Falkland Islands. The first of them, 14/10-6, will be the third appraisal well on the Sea Lion feature where the discovery of oil at commercial rate has been confirmed.

Rockhopper Exploration is looking at some form of floating platform as the likeliest option to produce its Sea Lion oil and gas discovery offshore the Falkland Islands. But the company wants to complete delineation of the field before progressing to the front-end engineering and design (FEED) stage, reports Offshore.

Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, is pleased to announce results for the twelve months ended 31 March 2011.