Falkland Oil & Gas said on Thursday it had reached an agreement to buy Desire Petroleum, which holds the majority stake of licences PL004a and PL004c, containing the Isabel/Elaine and Jayne East prospects in the North Falkland basin.
Pursuant to the completion of this merger, Falkland has also signed a heads of agreement to farm out further interests in the blocks to Premier Oil and Rockhopper Exploration, which already hold minor stakes.
Under
