- Rockhopper Exploration said it was close to selecting the main contractors for its Sea Lion project in the Falkland Islands and expected to sign up a bank lender imminently.

The company was currently seeking vendor funding of $400m.

'Following a comprehensive commercial bank market engagement process, with a number of banks expressing a desire to support the project, a pathfinder bank will be appointed imminently to assist with the arrangement of senior debt facilities for the project,' chairman David McManus said in speech notes for the company's annual general meeting.

With Brent crude currently trading above $75 a barrel, McManus said the economics of the project were highly attractive.

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