Shares in Rockhopper Exploration (RKH) gained five per cent after an independent audit of the North Falklands-focused driller’s licences revealed a doubling in the net contingent resources base. Consultants at ERC Equipoise (ERCE) have put Rockhopper’s share of the Sea Lion complex at 258 million stock tank barrels of 2C (contingent) resources, and a further 13 million barrels in the Isobel Deep block.
IC TIP:
Buy
at
38.5p
Using ERCE’s audit work, the explorer’s management estimates that the Emily, Isobel and Isobel Deep fields could hold an additional 49 million barrels of contingent resources, 31 million of which are attributable to Rockhopper.
