Rockhopper Exploration plc Farm-in Agreement signed (9830U)
December 09 2013 - 1:06AM
UK Regulatory
TIDMRKH TIDMFOGL
RNS Number : 9830U
Rockhopper Exploration plc
09 December 2013
9 December 2013
ROCKHOPPER EXPLORATION PLC
("Rockhopper")
Signing of Definitive Farm-in Agreement to PL004a and PL004c,
North Falkland Basin
Rockhopper Exploration notes this morning's announcement by
Falkland Oil & Gas Limited ("FOGL") confirming that the
farm-out negotiations in connection with the Falkland Islands
licences PL004a and PL004c have been completed.
As announced on 3 October 2013, Rockhopper and Premier signed
heads of agreement ("Heads of Agreement") with FOGL with respect to
a farm-out (the "Farm-out") by FOGL of licences PL004a and PL004c
(the "Licences"). The Farm-out is with respect to licences in which
Desire held working interests of 92.5 per cent. and 75 per cent.
respectively. Following the Scheme of Arrangement between FOGL and
Desire becoming effective, the binding Farm-out Agreement has now
been signed by all parties.
Subject to certain standard conditions in the Farm-out
Agreement, Premier and Rockhopper have now farmed in to the
Licences and as a result, Rockhopper's interest in the Licences has
risen to 24 per cent. Premier and Rockhopper will fund FOGL's share
of the cost of two exploration wells, one on each of the
Licences.
It is anticipated that these two wells will be included in the
next drilling campaign, which is expected to commence in late 2014
or early 2015, and will target the Isobel/Elaine and Jayne
prospects
Enquiries
Rockhopper Exploration plc
Tel: (via Vigo Communications) - 020 7016 9571
Sam Moody - Chief Executive
Peter Dixon-Clarke - Finance Director
Fiona MacAulay - Technical Director
Richard Slape - IR & Business Development Manager
Canaccord Genuity Limited (NOMAD and Joint Broker)
Tel: 020 7523 8000
Henry Fitzgerald-O'Connor
Vigo Communications
Tel: 020 7016 9571
Peter Reilly
Patrick d'Ancona
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRNKFDQBBDBPBK
Falkland O&G (LSE:FOGL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Falkland O&G (LSE:FOGL)
Historical Stock Chart
From Jul 2023 to Jul 2024