IN BRIEF: Rockhopper Exploration stock falls amid Falklands nerves
Rockhopper Exploration PLC - Salisbury, England-based oil and gas company, which owns a 35% interest in the Sea Lion development in the Falkland Islands - Notes recent media reporting on the Falkland Islands. Argentina's President Javier Milei said, in a televised national address, that his country "[needs] to recover these islands...There is no other path forward." He also said the “winds of change” are favourable to Argentina's claim. Milei's comments follow US President Donald Trump hinting that he would not help the UK in a potential future conflict over the Falklands, saying the country was "not there to help me" with the war in Iran. Earlier, the UK prime minister's official spokesman said the UK's position on the Falklands was "long-standing and unwavering", and that its residents "have repeatedly expressed their wish to remain a British overseas territory."
Navitas Petroleum, Rockhopper's partner and operator of the Sea Lion project, stated on Friday morning that it "operates pursuant to valid petroleum licenses lawfully granted". Adds that it "believes that the recent developments are not expected to have a material effect on the development activities of the Sea Lion Project". This includes the timetable for completing Sea Lion's development.
Current stock price: 72.90 pence, down 6.5% on Friday in London
12-month change: down 16%
By Emma Curzon, Alliance News reporter
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