Rockhopper Exploration PLC Reports H1 Net loss $57.8M v loss $6.4M y/y; Rev nil
- Chairman: The recent farm in to some of Desire Petroleum plc's acreage will give added impetus to our exploration plans. The development of the Sea Lion field continues apace and the imminent conclusion of the feasibility work around the tension leg platform solution means that we will soon be in a position to compare it to the work already done on the FPSO alternative and decide on the preferred concept. On the capital gains tax liability, we have agreed in principle with the Falkland Islands Government ("FIG") as to the total liability on the basis that the tax due on the non cash element of the consideration is to be paid at the same time as the first royalty from Sea Lion. In each of the areas above, we hope to be able to provide you with a further update during the first quarter of 2014