The annual report presented today in London by Rockhopper Exploration plc confirms that Phase 1 of the Sea Lion field is fully financed with US$1 billion in senior debt. The British oil company reports having already paid the first installments of a £30 million (US$40 million) agreement with the occupying government to secure extraction. While Argentine diplomacy feigns negotiations, the Anglo-Israeli consortium has already contracted a second platform vessel and the drilling rig to begin well drilling in 2027.

This can be established from the publication of Rockhopper Exploration plc's audited results on June 3, 2026 ; a reading of which suggests that this marks the end of speculation and the beginning of the countdown to the largest resource theft in Argentine history in the South Atlantic. In this report, the company not only confirms the start of production, the " first oil" for the first quarter of 2028 , but also reveals the financial and tax engineering it maintains in conjunction with the usurpation.

The cost of impunity: £30 million for colonial coffers

One interesting detail that emerged from today's update is the " final tax agreement" reached between Rockhopper and the Malvina Islands Government (FIG). To clear "any legal obstacles" before the start of operations, the oil company agreed to pay a total of 30 million pounds in installments (US$40 million), of which the first 3 million pounds have already been paid. The first 4 million pounds were paid to remove, eliminate, or circumvent any "legal obstacles."

The NSAI (Netherland Sewell and Associates) report has reclassified Rockhopper 's assets: what were previously "contingent resources" are now "Reserves." The company now has a net worth exceeding US$2 billion .

The numbers of the looting: 180,000 barrels per day

The official document confirms the strategy of multiplying the loot through two simultaneous production units:

1.    The FPSO Aoka Mizu (Phase 1) has a capacity of 55,000 barrels per day . Due to the US-Israeli conflict with Iran, it was moved to shipyards in China for refurbishment, adding US$45 million to the initial budget.  

2.    Second Mega-Platform (Acceleration Phase): The document confirms the signing of last month's Memorandum of Understanding (MOU) for an additional unit with a capacity of 125,000 barrels per day . In total, the extraction complex aims to extract a flow of 180,000 barrels per day from the Argentine continental shelf.

Blind funding of sovereignty

Unlike previous versions, Rockhopper confirms today that it already has a financing package of US$1 billion in senior secured debt for Phase 1. Of that total, US$350 million corresponds directly to the British firm; the remaining US$650 million constitutes the capital raised by Navitas .

For the Tierra del Fuego government to note: Critical commercial contracts have already been signed, including the drilling rig and well completion services; and it has been established that the start of drilling is scheduled for early 2027 .

While on Tierra del Fuego's main island the drop in oil production leaves more than 100 workers unemployed in a single day, and Gustavo Melella 's government is part of the problem and not the solution; simultaneously, Rockhopper celebrates to its shareholders that the Sea Lion project is now a highly secure asset with a future potential comparable only to the United Arab Emirates.