
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.

Eco (Atlantic) Oil &Gas Ltd, the Canadian exploration company focused on the offshore Atlantic Margins, announced that Navitas Petroleum LP (“Navitas”), with whom Eco signed a Framework

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 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.

The Israeli/US company preparing to extract oil from Falkland Islands waters, Navitas Petroleum Development and Production Ltd. (Navitas) has issued a revised Environmental Impact Statement (EIS) concerning its proposals for the drilling of oil wells and offshore production from the Sea Lion Field Northern Development Area, Phase 1 and 2, which includes additional information on atmospheric emissions.

Following the approval at an extraordinary sitting of the Executive Council on Monday 17 June, the Falkland Islands Government has begun a public consultation from Monday 24 June to Monday 5 August 2024, on the Environmental Impact Statement (EIS) for the Sea Lion Field Northern Development Area, Phase 1 and 2, which Navitas Petroleum Development and Production Limited have submitted.

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.

Uruguayan authorities said the first case of a sea lion with avian influenza had been detected in the country after a specimen was found dead on the Cerro beach on Aug. 31 and the laboratory tests were announced Tuesday, it was reported in Montevideo.

A final investment decision for the long-stalled Sea Lion development offshore the Falkland Islands could be reached in 2024, Rockhopper, a partner in the project announced in its site, after Navitas Petroleum, the project operator, presented it with an updated development plan.