A SWINDON firm has joined the rush to strike black gold in the Falkland Islands.

Rockhopper Exploration, which was established last year, has offices on the Windmill Hill business park in Swindon and a licence to explore for oil.

It has now signed a deal with Desire Petroleum, which is already exploring in the Falklands.

Using an industry agreement called a "farm-in" in which Rockhopper has invested money in Desire in exchange for a slice of any profits three wells are being drilled off the islands.

Big things are predicted for the oil basins near the islands. The area is thought to contain about 60 billion barrels, putting the Falklands in the top ten oil-producing areas in the world.

Oil was first discovered in the mid-1970s near the Falklands, although wide

spread drilling has been slow to take off.

Some analysts have predicted that with the Middle East oil supplies uncertain in the current political climate, other sources of oil, including the Falklands, will become more and more important.

Rockhopper has already been awarded licences to explore 1,623 sq miles in the North Falkland Basin, 30 miles north of the islands.

It will spend the next few years developing the area's potential for exploration.

There are believed to be just three British companies exploring for oil in and around the islands Rockhopper, Desire, and Falklands Oil and Gas.

Rockhopper so far is made up of three people general manager Sam Moody, executive director Richard Visick, and executive chairman Pierre Jungels.

Swindon was chosen to house the office because it is central to where the three live when in England. Mr Visick, a solicitor, has several business interests in the Falklands including a hotel.

Dr Jungels said: "We are looking to build the business over the next few years in what is an exciting and largely undrilled exploration region.

"We are actively considering our funding options as we pursue other opportunities in the area that will enable us to grow the business."

Tom Morton