Shares in the Falkland oil firm have been excessively discounted, analyst Leila Reddy said in a note, which re-initiated coverage with a ‘buy’ and a 225p target.
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Rockhopper Exploration Plc is a United Kingdom-based oil and gas exploration company. It has with licenses to explore oil and gas in the North Falkland Basin. Rockhopper has 100% of four licenses in the North Falkland Basin, PL023, PL024, PL032 and PL033. PL023 and PL024 licenses cover an area of 2100 square kilometers and PL032 and PL033 licenses cover 1620 square kilometers. It has also farmed in to licenses PL03 and PL04, which cover an area of 1340 square kilometers.