Rockhopper Eyes $2 bln Falklands Oil Project

Reuters reported that Rockhopper Exploration Plc (LON:RKH) announced that it plans for a $2 billion investment in the Falkland Islands.

The market news is quoted as saying:

Rockhopper said on Wednesday it expected to start pumping oil in 2016 from the Sea Lion discovery made in 2010 and production would ramp up to a maximum of around 120,000 barrels of oil per day by 2018.

Phil Corbett, RBS analyst, says,

“The uncertainty over near-term funding requirements and financing and farm-out options are clearly offsetting a positive and credible message on the geology and development options and impacting the shares,”

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