Under the deal, Premier will carry Rockhopper’s part of theproject development costs up to the first $1.8 billion of capital expenditure –entitling the smaller company to $722 million.
Rockhopper told the London Stock Exchange that theconditional farmout would see Premier pay $231 million in cash up front for thestake in licences PL023, PL024, PL032, PL033, PL003 and PL004 in the NorthFalkland basin, with an exploration carry of $48 million for three wells.
Premier
