Rockhopper Exploration plc announced it had extended its North Falkland Basin petroleum licences, including the Sea Lion Discovery Area, until 1 November 2022.
DISCUSSIONS
The company’s licences had been due to expire on 1 May 2021.
The extension follows discussions between the hydrocarbon exploration and production company and joint venture partners, Harbour Energy and the Falkland Islands Government.
Rockhopper said that there were no additional licence commitments.
The company’s working interests in North Falkland Basin petroleum licences are:
| Licence | Operator | Rockhopper WI |
| PL032 inc. Sea Lion Discovery Area | Premier Oil | 40%* |
| PL033 | Premier Oil | 40% |
| PL003a | Rockhopper | 95.5% |
| PL003b | Rockhopper | 60.5% |
| PL004a | Premier Oil | 64%** |
| PL004b | Premier Oil | 64%* |
| PL004c | Premier Oil | 64%* |
| PL005 | Rockhopper | 100% |
30% upon exercise of option to be held by Navitas Petroleum LP under proposed farm-out (Rockhopper)
FOUNDATION
“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,” added chief executive Samuel Moody.
“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.”