REG - Rockhopper Exp plc - Sea Lion Update

Rockhopper ExplorationAnnouncement

23/09/2022 07:00

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RNS Number : 3709A  Rockhopper Exploration plc  23 September 2022

23 September 2022

 

Rockhopper Exploration plc

("Rockhopper" or the "Company")

 

Sea Lion Update:

Navitas Transaction Completion

 

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and
production company with key interests in the North Falkland Basin, is pleased
to announce that, further to the signing of definitive documentation as
announced on 19 April 2022, the transaction enabling Harbour Energy plc
("Harbour") to exit and Navitas Petroleum LP through its UK subsidiary
("Navitas") to enter the North Falkland Basin with a 65% stake in, and
operatorship of, all of Rockhopper's North Falkland Basin licences (the
"Transaction"), has completed.

 

Licence ownership post Transaction completion

The table below shows the revised licence ownership post completion of the
Transaction:

North Falkland Basin

 

 Licence  Rockhopper  Navitas as Operator

 PL003    35%         65%
 PL004    35%         65%
 PL005    35%         65%
 PL0032   35%         65%
 PL0033   35%         65%

 

South Falkland Basin

           Rockhopper   as Operator

 Licence

 PL011     100%
 PL012     100%
 PL014     100%

 

Samuel Moody, CEO, commented:

 

"We are delighted to welcome Navitas to the North Falkland Basin as Operator
of the Sea Lion development and wider acreage with all of its associated
upside. We also thank both the Falkland Islands Government and Harbour for
their work on this Transaction and look forward to working with Navitas to
bring Sea Lion to fruition.

 

Sea Lion alone is capable of producing at over 120,000 barrels of oil per day
with significant upside.

 

The proven oil and gas in the Falklands has the potential to form a material
part of wider UK energy supply in a relatively short time frame, bringing with
it huge potential security of supply and financial benefits for all
stakeholders."

 

 

Enquiries:

 

Rockhopper Exploration plc

Sam Moody - Chief Executive Officer

Tel. +44 (0) 20 7390 0234 (via Vigo Consulting)

 

Canaccord Genuity Limited (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor/Gordon Hamilton

Tel. +44 (0) 20 7523 8000

 

Peel Hunt LLP (Joint Broker)

Richard Crichton/Georgia Langoulant

Tel. +44 (0) 20 7418 8900

 

Vigo Consulting

Patrick d'Ancona/Ben Simons/Kendall Hill

Tel. +44 (0) 20 7390 0234

 

The information contained within this Announcement is deemed by Rockhopper
Exploration plc to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue
of the European Union (Withdrawal) Act 2018 ("MAR").

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