British oil company Rockhopper Exploration plc submitted an update to its independent technical report on the Sea Lion field, located illegally in the North Malvina Basin, to the London Stock Exchange (AIM) on Wednesday. The official document, prepared by the international petroleum engineering consultancy Netherland, Sewell & Associates, Inc. (NSAI) and effective until July 31, 2026, reflects a significant revaluation of the clandestine project, driven by the purchase of the FPSO production vessel OSX-1 and the acceleration of the Central Development Area (CDA).

According to the company's report to its shareholders, the addition of this second floating unit and the update of projected Brent crude prices resulted in a net equity jump of an additional $788 million in the Net Present Value (NPV10) corresponding to Rockhopper 's 35% stake.

A snapshot of the reserves: numbers of plunder

NSAI 's technical report meticulously details the volumes of liquid hydrocarbons that the companies intend to extract from the Argentine continental shelf, dividing the deposit between the Northern Development Area (NDA) and the recently incorporated Central Area (CDA):

1. Recoverable commercial reserves (Phases 1 and 2 NDA):

2. Contingent Resources (Central CDA Area and Phase 3 NDA):

The technical scheme of two FPSO platforms

The NSAI report validates the joint operational scheme between Rockhopper and the Israeli operator Navitas Petroleum . The plan anticipates that the first platform, the FPSO Aoka Mizu (currently en route to Southeast Asian shipyards for refurbishment), will begin commercial production in the Northern Area around early 2028.

Simultaneously, the recently acquired FPSO OSX-1 (purchased by Navitas for $125 million) will be deployed to drill 38 wells in the Central Area. According to the financial engineering report filed with the London Stock Exchange, both units will operate jointly, and once the declining production from the field falls below 125,000 barrels per day , the Aoka Mizu contract will be terminated, allowing the OSX-1 to continue draining the field independently.

Illegality in the face of the Solanas Law

The aggressive stock market valuation in London stands in stark contrast to the legal regime of the Argentine Republic. All commercial licenses granted by the illegitimate occupying government of the Malvina Islands lack international legal validity.

Under National Law No. 26,659 (Solanas Law) and its supplementary regulations, Rockhopper Exploration plc and Navitas Petroleum are barred from operating and subject to administrative and criminal penalties for operating clandestinely on the Argentine continental shelf. Rockhopper 's successive financial filings on the London Stock Exchange confirm that its unilateral hydrocarbon exploration in Malvina Islands waters is not based on preliminary studies, but rather on a large-scale industrial plan aimed at the definitive extraction of strategic Argentine resources starting in 2028.