LONDON – The Falkland Islands government has agreed to extend each of Rockhopper Exploration plc’s offshore North Falkland basin petroleum licenses, including the Sea Lion discovery area, until Nov. 1, 2022.
The extension includes no additional license commitments. The previous expiry date was May 1, 2021.
The company’s working interests in the North Falkland basin petroleum licenses are as follows:
* Reducing to 30% upon completion of the proposed farm-out to Navitas Petroleum LP
** Reducing to 30% upon exercise of option to be held by Navitas Petroleum LP under proposed farm-out
CEO Samuel Moody said: “The company is grateful to the Falkland Islands government for the extension of its North Falkland basin license interests and continued support of the Sea Lion project.
“The proposed merger of Premier Oil and Chrysaor to create Harbour Energy brings a financially stronger operator to the project. This, combined with the proposed entry of Navitas Petroleum to Sea Lion, creates a solid operational and financial foundation giving the project the strongest possible chance of progressing.”