Rockhopper has announced a proposed merger with FOGL, consolidating ownership of assets in the North Falkland basin, in which the Sea Lion development and Isobel/Elaine Deep discovery lie. As a result, the new entity will have large interests in both major discoveries in the Falkland Islands, making any future deals to develop/farm-down the assets much easier. The deal could complete in January 2016 (after shareholder and government approvals), around the time of the Isobel-2 well result, which is aiming to further de-risk >500mmboe resources.
