Rockhopper up on Falkland oil

ROCKHOPPER Exploration yesterday reported “enormously encouraging” results at a Falkland Islands oil well and said it would conduct further tests over the next month to help establish its commercial viability.

“The well has been highly successful, proving a very thick, high quality reservoir package and a substantial oil column,” the company said yesterday.

“The geological prognosis once again came in very close to prediction,” it added.

Rockhopper’s shares rose more than 10 per cent yesterday on the positive result.