Business
Farm-in Agreement signed
Farm-in Agreement signed.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 9830U Rockhopper Exploration plc 09 December 2013 \n \n\n9 December 2013\n \nROCKHOPPER EXPLORATION PLC\n(\"Rockhopper\")\n \nSigning of Definitive Farm-in Agreement to PL004a and PL004c, North Falkland Basin\n \nRockhopper Exploration notes this morning's announcement by Falkland Oil & Gas Limited (\"FOGL\") confirming that the farm-out negotiations in connection with the Falkland Islands licences PL004a and PL004c have been completed. \n \nAs announced on 3 October 2013, Rockhopper and Premier signed heads of agreement (\"Heads of Agreement\") with FOGL with respect to a farm-out (the \"Farm-out\") by FOGL of licences PL004a and PL004c (the \"Licences\"). The Farm-out is with respect to licences in which Desire held working interests of 92.5 per cent. and 75 per cent. respectively. Following the Scheme of Arrangement between FOGL and Desire becoming effective, the binding Farm-out Agreement has now been signed by all parties. \n \nSubject to certain standard conditions in the Farm-out Agreement, Premier and Rockhopper have now farmed in to the Licences and as a result, Rockhopper's interest in the Licences has risen to 24 per cent. Premier and Rockhopper will fund FOGL's share of the cost of two exploration wells, one on each of the Licences. \n \nIt is anticipated that these two wells will be included in the next drilling campaign, which is expected to commence in late 2014 or early 2015, and will target the Isobel/Elaine and Jayne prospects\nEnquiries\n \nRockhopper Exploration plc\nTel: (via Vigo Communications) - 020 7016 9571\nSam Moody - Chief Executive \nPeter Dixon-Clarke - Finance Director\nFiona MacAulay - Technical Director\nRichard Slape - IR & Business Development Manager\n \nCanaccord Genuity Limited (NOMAD and Joint Broker)\nTel: 020 7523 8000\nHenry Fitzgerald-O'Connor\n \nVigo Communications\nTel: 020 7016 9571\nPeter Reilly\nPatrick d'Ancona\n \n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRNKFDQBBDBPBK\n ","length":3782,"tagName":"div"}]