Rockhopper buoyed by Falklands oil find

British energy explorer Rockhopper yesterday said it believed its oil discovery off the coast of the Falklands Islands will be commercially viable, boosting its shares more than a quarter to an all-time high.

A test at the Sea Lion 1 well produced sustained rates of over 2,000 barrels of oil per day, in line with its hopes, Rockhopper said. Shares in the group closed up 26 per cent at 420p.