Completion of the farm-in for 60 % of Rockhopper Exploration plc’s (“Rockhopper”) licence interests in the Falkland Islands

abarrelfullabarrelfull wrote on 20 Oct 2012 07:46
Tags: falklands premier rockhopper s-america upstream

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Premier is pleased to announce that it has completed the farm-in for 60 per cent of Rockhopper’s licence interests in the Falkland Islands, which includes the Sea Lion development. This follows the expected cash payment of $231 million by Premier to Rockhopper and satisfaction of other closing conditions (including approval by the Falkland Islands Government). Operatorship of the Sea Lion development is expected to transfer to Premier at the end of October.

Commenting on today’s announcement, Simon Lockett, Chief Executive of Premier, said:

‘We are delighted to complete this agreement with Rockhopper. As operator, we will progress Sea Lion to final development sanction and work closely with the Rockhopper team to mature the exciting exploration opportunities in our shared acreage.’

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