Rockhopper Exploration PLC - Salisbury, England-based oil and gas exploration company with key interests in the Falkland Islands - Notes Navitas Petroleum LP's update on the Sea Lion asset. Says Navitas has identified suitable and available existing floating production storage and offloading vessels, and is actively working with leading industry vendors to secure all long lead equipment, continuing to target Sea Lion phase 1 final investment decision in 2024 and first oil at the end of 2026.
Adds that gross 2C resources rise to 791 million barrels from 712 million. Rockhopper holds a 35% working interest in Sea Lion and associated North Falkland Basin licences and benefits from various loans from Navitas in relation to the development, which are detailed in previous announcements.
Current stock price: 10.67 pence, up 3.3%
12-month change: up 20%
By Sabrina Penty, Alliance News reporter
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Rockhopper (RKH)