Rockhopper Exploration plc’s partner in the Sea Lion discovery has had phased work, including 64 wells, set out in a revised independent report on the North Falkland Basin project. PHASES Israel-headquartered operator Navitas Petroleum LP, targeting a final investment decision for mid-2025, commissioned the independent resource report from Netherland Sewell & Associates (NSAI). “The report […]
Tag: Rockhopper Exploration plc
United issues 59m shares to settle Egypt legacy
United Oil & Gas plc has issued 59,523,810 new ordinary shares to settle an outstanding balance with Rockhopper Exploration plc relating to the transfer of the Abu Sennan licence in Egypt. EXPLORATION In 2019 Rockhopper agreed to sell its 22% working interest to United, which held the concession until 2024. The issued new ordinary shares […]
Sea Lion FID deferred to mid-2025
Rockhopper Exploration plc’s partner has indicated that the final investment decision has moved from late 2024 to mid-2025 with first oil during Q4 2027 at Sea Lion in the North Falkland Basin. AREAS The company added that the gross capital expenditure needed to first oil had risen to US$1.4 billion due to inflation but the project […]
Rockhopper extends Falkland licences
Rockhopper Exploration plc has secured a two-year extension to all its licences in the North and South Falkland Basin. PARTNERS The Falkland Islands Government granted the extension until 31 December 2026. In the North Falkland Basin, Rockhopper holds a 35% interest in licence PL032, containing the Sea Lion discovery extending into PL004, and PL033. The company […]
Rockhopper receives initial €19m over Ombrina Mare
Rockhopper Exploration plc said it had received €19 million of the €45m tranche I payment of the Ombrina Mare arbitration award. CASH BALANCE The balance of €26m goes to the original arbitration funder, while tranches II and III remain payable to Rockhopper upon a successful annulment outcome. The company’s legal representatives will receive success fees of […]
Rockhopper due first Ombrina Mare payment
Rockhopper Exploration plc said it expected tranche I payment from its Ombrina Mare arbitration award within five business days. The compensation relates to Italy’s ban on oil and gas exploration within 12 miles of the Italian coastline, which affected the company’s activities in the oil field. Rockhopper subsequently went to tribunal at the International Centre […]