REG - Rockhopper Exp plc - Half-year results <Origin Href="QuoteRef">RKH.L</Origin> - Part 2

Rockhopper ExplorationAnnouncement

15/09/2015 07:01

- Part 2: For the preceding part double click  ID:nRSO0294Za 

Transaction represents the continuation of Rockhopper's strategy to
build a full cycle E&P company focused on its two core areas and represents
the Company's entry into Egypt, a prolific hydrocarbon province 
 
·      Acquisition anticipated to complete in late 2015 / early 2016 (subject
to satisfaction of certain conditions), with consideration adjusted for net
cash flow attributable to the assets since the effective date of 1 July 2015 
 
On the 10 August 2015 the group announced that the Italian Government had
announced that the Environmental Impact Assessment ("EIA") for the Ombrina
Mare field development project ("FDP") had now been approved by the Minister
for the Environment and countersigned by the Ministry of Cultural Heritage. 
The decree includes the 'Autorizzazione Integrata Ambientale' (Integrated
Environmental Authorisation) ("AIA"). The decree will now be passed to the
Ministry of Economic Development in order to complete the process to award the
Ombrina Mare Production concession. 
 
In addition on the 1 September 2015 the group announced that operations to
drill a sidetrack well at the Guendalina gas field (Eni Operator, Rockhopper
20% Working Interest) had begun.  It is anticipated that operations will take
approximately 80 days in total. 
 
INDEPENDENT REVIEW REPORT TO ROCKHOPPER EXPLORATION PLC 
 
Introduction 
 
We have been engaged by the company to review the condensed set of financial
statements in the half-yearly report for the six months ended 30 June 2015
which comprises group income statement, the group statement of comprehensive
income, the group balance sheet, the group statement of changes in equity, the
group cash flow statement and the related explanatory notes.  We have read the
other information contained in the half-yearly report and considered whether
it contains any apparent misstatements or material inconsistencies with the
information in the condensed set of financial statements. 
 
This report is made solely to the company in accordance with the terms of our
engagement.  Our review has been undertaken so that we might state to the
company those matters we are required to state to it in this report and for no
other purpose.  To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the company for our review work,
for this report, or for the conclusions we have reached. 
 
Directors' responsibilities 
 
The half-yearly report is the responsibility of, and has been approved by, the
directors.  The directors are responsible for preparing the half-yearly report
in accordance with the AIM Rules. 
 
As disclosed in note 1, the annual financial statements of the group are
prepared in accordance with IFRSs as adopted by the EU.  The condensed set of
financial statements included in this half-yearly report has been prepared in
accordance with IAS 34 Interim Financial Reporting as adopted by the EU. 
 
Our responsibility 
 
Our responsibility is to express to the company a conclusion on the condensed
set of financial statements in the half-yearly report based on our review. 
 
Scope of review 
 
We conducted our review in accordance with International Standard on Review
Engagements (UK and Ireland) 2410 Review of Interim Financial Information
Performed by the Independent Auditor of the Entity issued by the Auditing
Practices Board for use in the UK.  A review of interim financial information
consists of making enquiries, primarily of persons responsible for financial
and accounting matters, and applying analytical and other review procedures. 
A review is substantially less in scope than an audit conducted in accordance
with International Standards on Auditing (UK and Ireland) and consequently
does not enable us to obtain assurance that we would become aware of all
significant matters that might be identified in an audit.  Accordingly, we do
not express an audit opinion. 
 
Conclusion 
 
Based on our review, nothing has come to our attention that causes us to
believe that the condensed set of financial statements in the half-yearly
report for the six months ended 30 June 2015 is not prepared, in all material
respects, in accordance with IAS 34 as adopted by the EU and the AIM Rules. 
 
LYNTON RICHMOND 
 
for and on behalf of KPMG LLP 
 
Chartered Accountants 
 
15 Canada Square
London 
 
E14 5GL 
 
14 September 2015 
 
This information is provided by RNS
The company news service from the London Stock Exchange