rkh RNS19 Mar 2020 12:33
part of todays RNS
19 March 2020
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Impact of COVID-19
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin, provides the following update in response to current market uncertainty related to COVID-19 and commodity price weakness.
In January 2020, Rockhopper and Premier Oil announced that a detailed Heads of Terms had been signed with Navitas Petroleum to farm in for a 30 per cent interest in the Sea Lion project. Good progress has been made during the first quarter of 2020 to convert the Heads of Terms into fully documented agreements. Despite the current oil price weakness, all parties remain committed to the finalisation of the Navitas farm out agreement with completion subject to agreed consents and approvals.
dyor cat