Rockhopper Sells To Premier

Premier Oil Plc plans to buy a 60% interest in the North Falkland Basin from Rockhopper Exploration Plc (AIM: RKH) for just over $1 billion in cash and carry costs.

Premier Oil will pay $231 million in cash, $722 million in Sea Lion development carry and $48 million in exploration carry costs to Rockhopper and will become the operator of Sea Lion development, located in licenses PL032 and PL004b.