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Falklands explorer Rockhopper Exploration (RKH:AIM) has announced results of the interpretation of the 3D seismic data on its two 100%-owned and operated licences in the North Falklands basin. The survey has identified prospects with potential P50 reserves of around 1.2 billion barrels.

With this information the company may now seek a partner to secure a rig. BHP Billiton (BLT) farmed in to Falkland Oil & Gas (FOGL:AIM) last year. In response to the news, Rockhopper’s stock was up more than 6% at around 52p. Borders & Southern Petroleum (BOR:AIM), which operates in the neighbouring South Falklands basin, made a similar announcement last week and the share price has soared since – up more than 30%.

by: Tom Sieber