Ashurst is advising Rockhopper Exploration plc on its joint agreement with Premier Oil to farm-in two Desire Petroleum plc oil and gas licences offshore of the Falkland Islands in exchange for Rockhopper and Premier funding Desire's share of the costs of two exploration wells on the licences. Following the farm-in Rockhopper will have increased its share in each of  the licences from £3% and 10% to 24%.

The transaction was handled by Ashurst's energy and resources team led by partner Geoffrey Picton-Turbervill with associates Julia Derrick and Tom Saint, and partner Michael Robins advising on the corporate finance aspects.