REG - Rockhopper Exp plcMediterraneanOil&Gas - Update on Contingent Consideration Offer <Origin Href="QuoteRef">MOG.L</Origin> <Origin Href="QuoteRef">RKH.L</Origin>

Rockhopper ExplorationAnnouncement

06/09/2014 14:29

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RNS Number : 7791L
Rockhopper Exploration plc
09 July 2014 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO
OR FROM ANY RESTRICTED JURISDICTION OR WHERE IT WOULD CONSTITUTE A VIOLATION
OF THE RELEVANT LAWS OF ANY SUCH JURISDICTION 
 
RECOMMENDED CASH, SHARE AND CONTINGENT CONSIDERATION OFFER BY ROCKHOPPER
EXPLORATION PLC ("ROCKHOPPER") FOR MEDITERRANEAN OIL & GAS PLC ("MOG") 
 
UPDATE ON CONTINGENT CONSIDERATION OFFER 
 
In relation to the terms of the proposed recommended acquisition by Rockhopper
of the entire issued and to be issued share capital of MOG, MOG has informed
Rockhopper that the rig used to drill the exploration well targeting the Hagar
Qim prospect in Offshore Malta Area 4, Block 7 (MOG 25% working interest)
completed operations on 7 July 2014 (the HQ Exploration Well Completion Date)
and has now moved off location. 
 
As announced by MOG on 3 July 2014, MOG has received formal notification from
Phoenicia Energy Company Ltd (a wholly owned subsidiary of Genel Energy plc),
the operator of Offshore Malta Area 4, Block 7 that the Hagar Qim-1 well has
been drilled to the Eocene and plugged and abandoned with no indications of
hydrocarbons. 
 
As required by the terms of the acquisition, within one month of the HQ
Exploration Well Completion Date, ERC Equipoise Limited will be instructed to
produce a Competent Person's Report to validate the results of the well in
line with Part IV - The Contingent Consideration Offer of the Scheme Document
dated 20 June 2014. 
 
Defined terms in the Scheme Document dated 20 June 2014 have the same meanings
where used in this announcement. 
 
Enquiries 
 
 Rockhopper Exploration plc                                                    via Vigo Communications - 020 7016 9571  
 Sam Moody, Chief Executive                                                                                             
 Stewart MacDonald, Chief Financial Officer                                                                             
                                                                                                                        
 Canaccord Genuity Limited, NOMAD, broker and financial adviser to Rockhopper  020 7523 8000                            
 Henry Fitzgerald-O'Connor                                                                                              
 Neil Elliot                                                                                                            
                                                                                                                        
 Vigo Communications, PR adviser to Rockhopper                                 020 7016 9571                            
 Peter Reilly                                                                                                           
                                                                                                                        
 Mediterranean Oil & Gas plc                                                   020 7959 2322                            
 Bill Higgs, Chief Executive                                                                                            
 Chris Kelsall, Finance Director                                                                                        
                                                                                                                        
 RBC Europe Limited, Rule 3 adviser and joint broker to MOG                    020 7653 4000                            
 Jeremy Low                                                                                                             
 Matthew Coakes                                                                                                         
                                                                                                                        
 Liberum Capital Limited, NOMAD, financial adviser and joint broker to MOG     020 3100 2222                            
 Clayton Bush                                                                                                           
 Tim Graham                                                                                                             
                                                                                                                        
 FTI Consulting, PR adviser to MOG                                             020 3727 1000                            
 Ben Brewerton                                                                                                          
 Alex Beagley                                                                                                           
                                                                                                                        
 
 
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