Oil Queda

Rockhopper announced a new oil discovery in the islands, raising the possibility that the islands had become a new oil region. The British oil explorer Rockhopper said that he made a second oil discovery in the Falkland Islands and the same well found more oil in a field-tested, raising the possibility that the archipelago is a new oil region.

The well reached a new finding in the prospectus Casper, indicating that there is another reserve site next to Sea Lion, and was drilled at the site and found that Sea Lion was larger than previously thought, said CEO Sam Moody in a statement.

“This, combined with the discovery in Casper, will, we believe, a very positive impact for minimum volumes located in our area,” he said.

Rockhopper said in August that could have 608 million barrels of crude concentrated in Sea Lion, a low case.

Rockhopper shares today climbed nearly 11% in the British stock, giving the company a value of about 700 million pounds (1,100 million).

“The discovery in Casper suggests that there are more working space in North Falkland Basin,” said Oriel Securities in a note, adding that the news was encouraging.

Plans to transform the islands administered by Britain in an oil producing area are controversial because Argentina continues to claim sovereignty over the archipelago, after fighting a war for control in 1982.

Rockhopper plans an investment of $ s 2,000 million to get the oil begins to flow from its reservoir in the Falkland Islands in October and said he was approached by interested parties who want to partner with the firm in the project.