Rockhopper buoyed by Falklands farm-out

摘要

London-Falklands player Rockhopper Exploration saw its shares surge to fresh 12-month highs September 11 after it announced a license farm-out deal with an unidentified oil company, which would help fund its drilling plans off the south Atlantic islands. Under a preliminary agreement, Rockhopper said a third party has agreed to pay for a well on one its four licenses in the North Falkland Basin and cover previous exploration costs in exchange for a unspecified equity stake.