WorldOil Rockhopper confirms potential of Falklands basin oil discovery Rockhopper Exploration confirmed potential oil resources in a discovery in the Falklands basin, sending its shares higher. Falklands Islands’ Sea Lion project could yield first oil within next decade, GlobalData says Despite current low oil prices, the oil and gas industry in the Falkland Islands is continuing to go from strength to strength as its first project, Premier Oil’s Sea Lion, moves closer to commercialization, according to GlobalData. Premier, Noble terminate Ocean Rig contract on 'operational issues' Premier Oil and Noble Energy have terminated their contract for one of Ocean Rig’s semisubmersibles. SBM Offshore wins FEED for Premier Oil Sea Lion FPSO Premier Oil has awarded SBM Offshore the Front-End Engineering and Design (FEED) contract for an FPSO for Phase 1 of its Sea Lion development in the North Falkland basin. Premier Oil discovers oil in Isobel Deep offshore Falkland Premier Oil's Isobel Deep re-drill (well 14/20-2) has successfully confirmed the oil discovery encountered in the original Isobel Deep well. In addition, the re-drill has discovered new hydrocarbons in additional sandstones, the company said Monday. Rockhopper Exploration to buy Falkland Oil in $87-million deal Rockhopper Exploration Plc agreed to buy Falkland Oil and Gas Ltd. in an all-share deal that values the explorer at 57.1 million pounds ($87 million). Argos Resources completes farm-out for Falklands license Argos Exploration Limited, a subsidiary of Argos Resources Limited, has completed a farm-out agreement with Noble Energy Falklands Limited and Edison International in respect of its license PL001. Offshore in depth Disputed waters raise hopes, create conflict Premier Oil strikes oil in North Falkland basin Premier Oil has struck oil at the Isobel Deep exploration well, 14/20-1, in the North Falkland basin, approximately 30 km south of Sea Lion field. Premier Oil resolves BOP problem, restores operations at Falkland well Falkland Oil and Gas Ltd. has announced that the technical issues relating to the blow-out preventer (BOP) control system on the 14/20-1 'Isobel Deep' well (operator-Premier Oil) offshore Falkland Islands have now been fully resolved and drilling operations have recommenced.