Rockhopper Exploration plc Extension of North Falkland Basin Licences (2466R)
05 March 2021 - 6:00PM
UK Regulatory
TIDMRKH
RNS Number : 2466R
Rockhopper Exploration plc
05 March 2021
5 March 2021
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Extension of North Falkland Basin Petroleum Licences
Rockhopper Exploration plc (AIM: RKH), the oil and gas
exploration and production company with key interests in the North
Falkland Basin, is pleased to announce that, following discussions
between the joint venture partners, Harbour Energy and the Falkland
Islands Government ("FIG"), FIG has agreed to extend each of the
Company's North Falkland Basin Petroleum Licences, including the
Sea Lion Discovery Area, until 1 November 2022, with no additional
licence commitments. The Licences were previously due to expire on
1 May 2021.
Samuel Moody, Chief Executive Officer, commented:
"The Company is grateful to the Falkland Islands Government for
the extension of its North Falkland Basin licence interests and
continued support of the Sea Lion project.
The proposed merger of Premier Oil and Chrysaor to create
Harbour Energy brings a financially stronger operator to the
project. This, combined with the proposed entry of Navitas
Petroleum to Sea Lion, creates a solid operational and financial
foundation giving the project the strongest possible chance of
progressing."
Notes
The Company's working interests in North Falkland Basin
Petroleum Licences are as follows:
Licence Operator Rockhopper WI
PL032 inc. Sea Lion Discovery Premier Oil 40%*
Area
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PL033 Premier Oil 40%
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PL003a Rockhopper 95.5%
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PL003b Rockhopper 60.5%
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PL004a Premier Oil 64%**
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PL004b Premier Oil 64%*
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PL004c Premier Oil 64%*
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PL005 Rockhopper 100%
------------- --------------
* Reducing to 30% upon completion of the proposed farm-out to
Navitas Petroleum LP
** Reducing to 30% upon exercise of option to be held by Navitas
Petroleum LP under proposed farm-out
Enquiries:
Rockhopper Exploration plc
Sam Moody - Chief Executive Officer
Stewart MacDonald - Chief Financial Officer
Tel. +44 (0) 20 7390 0234 (via Vigo Communications)
Canaccord Genuity Limited (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor/James Asensio
Tel. +44 (0) 20 7523 8000
Peel Hunt LLP (Joint Broker)
Richard Crichton
Tel. +44 (0) 20 7418 8900
Vigo Communications
Patrick d'Ancona/Ben Simons
Tel. +44 (0) 20 7390 0234
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
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END
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