Rockhopper leaps on farm-in agreement

11th Sep 2009 08:04

Rockhopper, the oil and gas explorer focused on the North Falkland Basin, said a third party energy company has signed a farm-in agreement to one of Rockhopper’s licences.The company’s share price shot to a new 52-week high after it said the unnamed energy company would contribute to the costs of drilling one well on the licence and would also chip in for certain back costs.The company also welcomed the announcement made on Thursday by Desire Petroleum relating to the hiring of a rig to drill at least four wells in the North Falkland Basin.Rockhopper said it hopes to drill at least two wells on the operated acreage as part of a larger campaign with Desire.