Hi Everyone. Been a Premier Oil shareholder for a few years & a while later bought into Rockhopper. Leaving aside the history of their association, I'd like to know their current relation re the Sealion Project in the Falklands.
To get the ball rolling, this is my understanding ( CAUTION : I could be way out ). I'd welcome feedback on this topic. 1, Rockhopper is the licence holder. 2, Premier is the farm-in "partner " ( What does the term mean & what does it entail ? ). 3. Premier ( presumably in consultation with Rockhopper ) is seeking an additional partner ( another farm-in ? ). 4. Rockhopper has just issued a PIM ( Preliminary Information Memorandum ), forming the basis of a loan application for the project. 5. If everything is sorted ( finance etc ), Premier & Rockhopper will each ( independently of each other ) produce a FID ( Final Investment Decision ) - the go-ahead for the project.
I am positive about both companies, but not attempting to sway opinion. I am merely trying to get clarification of the situation - certainly for my benefit & probably to the benefit of others on the board.