Rockhopper Exploration ( (GB:RKH) ) has provided an announcement.
Rockhopper Exploration announced an update on the Sea Lion project, following an independent resource report by Netherland Sewell & Associates for Navitas Petroleum. The report indicates that a significant number of barrels have been reclassified from ‘Development On Hold’ to ‘Development Pending,’ with the total resources remaining unchanged. The development plan includes multiple phases in the Northern and Central areas, with a peak production rate potentially reaching 150,000 barrels per day. Navitas aims for a Final Investment Decision by mid-2025, with an estimated capital expenditure of $1.4 billion for the first phase.
More about Rockhopper Exploration
Rockhopper Exploration plc is an oil and gas company with significant interests in the North Falkland Basin. The company is involved in the exploration and development of oil resources, focusing on the Sea Lion field, and holds a 35% working interest in Sea Lion and associated NFB licences.
YTD Price Performance: 51.00%
Average Trading Volume: 3,625,703
Technical Sentiment Signal: Sell
Current Market Cap: £242.8M
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