Rockhopper Secures Extension of Licences in Falkland Islands

Rockhopper, the North Falkland Basin oil and gas exploration company, has received notification that The Falkland Islands Government has granted a one year extension (to 18 November 2013), with no further work commitments, of Production Licences PL023 and PL024, in which Rockhopper has a 40 per cent interest.

Rockhopper also notes that Production Licences PL003 and PL004 have been extended until 1 May 2016 with a one well work commitment during this period. Rockhopper has a 3 per cent. interest in Licences PL003 and PL004a, a 10 per cent. interest in PL004c and a 24 per cent. interest in PL004b which contains the extension of the Sea Lion Field as well as the Beverley, Casper and Casper South discoveries.

Sam Moody, Chief Executive, commented:

“We are pleased to have received confirmation that PL023 and PL024 have been extended. This will provide a further opportunity to evaluate the largely unexplored potential of these licences, whilst we continue to work with Premier to advance the Sea Lion project located elsewhere in the basin.”

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Press Release, November 2, 2012