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.
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.
Rockhopper Exploration and Falkland Oil and Gas Ltd have confirmed a significant oil discovery at the Isobel/Elaine project to the north of the Falkland Islands. According to a release from the companies the new 14/20-2 well was a ‘re-drill’ of the prior Isobel Deep well which had to be abandoned prematurely due to operational issues despite encountering oil.
Premier Oil spudded its first 2015 Falklands drilling campaign well, 14/15-5, using the Eirik Raude semisubmersible drilling rig on the Zebedee prospect on 6 March. The well, on license PL004b, will test a total of seven stacked fan bodies with varying geological chances of success (GCoS) of 9-52%.
Rockhopper Exploration announced Thursday in its interim results statement that the Falkland Islands drilling campaign has been very successful as it has established the Sea Lion discovery as a world-class asset.
Shares in Falkland Islands Rockhopper Exploration soared 16% on Monday, after it raised its lowest case estimate of crude reserves at its Sea Lion well.
Rockhopper Exploration announced Monday that its Sea Lion discovery in the North Falkland basin is likely to be commercially viable and anticipated drilling for further appraisal wells (a minimum of three).
One of the Falkland Islands oil and gas exploration companies currently involved in the oil exploration round with licences granted by the Falklands’ government announced it plans further drilling and has acquired new 3D seismic data while it continues with the wider seismic program.
Rockhopper Exploration (AIM: RKH) announced that on Friday early morning it had spudded Ernest 26/6-1 exploration well in the North Falkland Basin, the second well the British company is drilling following the successful discovery of oil in its Sea Lion prospect.