By Maximilian Clarke

Shares in the UK- based oil and gas exploration firm, Rockhopper Exploration PLC (AIM: RKH.L), have jumped by 27.75p- or nearly 10% on the news of a possible sale of its Falkland Islands site.

The site, which has proven both controversial owing to strained UK- Argentina relations over the contested islands as well as their ecological sensitivity, appears far more profitable than once thought. The sale of the $2bn sale will see profits for the explorers soar, boosting share prices.

On detection of the site in March 2011, company shares jumped by more than a third. It then transpired that the reserves contained larger volumes of P90 crude than at first thought, generating significant media interest over the discovery.

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