Flash note: Proposed merger with FOGL
Rockhopper has announced a proposed merger with FOGL, consolidating ownership of assets in the North Falkland basin, in which the Sea Lion development and Isobel/Elaine Deep discovery lie. As a result, the new entity will have large interests in both major discoveries in the Falkland Islands, making any future deals to develop/farm-down the assets much easier. The deal could complete in January 2016 (after shareholder and government approvals), around the time of the Isobel-2 well result, which is aiming to further de-risk >500mmboe resources.Rockhopper Exploration is an oil and gas exploration and production company with key interests in the North Falkland Basin and the Greater Mediterranean region.
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