Rockhopper Exploration has agreed to buy London-based Mediterranean Oil & Gas (MOG) for $50-million in a cash and shares deal. Rockhopper said that following the completion of the farm-out of its Sea Lion discovery to Premier Oil, and having conducted the preparation for the next exploration campaign in the North Falkland Basin, the Rockhopper directors are looking to use the skills and experience the company has acquired to develop opportunities elsewhere. The firm is also keen to establish a balanced portfolio of assets.
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