Rockhopper Exploration Live Discussion

optomus 27 Jan 2020

Malcy Podcast Total Market Solutions – 27 Jan 20 Malcy Talks Oil & Gas XVIII - Total Market Solutions We ask Malcy, will the clouds lift over Oil in 2020? Once again we caught up with Independent oil analyst Malcolm Graham-Wood to talk us through the trials and tribulations of investing in Oil stocks, quickly reminding us that whilst... Read More › I found this on London South East posted by BurtonD. I think it is encouraging to long term holders like myself

onemanandhisdog 15 Jan 2020

RNS Director Share Purchases [link]

jeremyfinnemore 13 Jan 2020

RNS Heads of Terms with Navitas So, general question on shareholders lips… With the deals that have been done and the % ownership of fields that will produce oil in the future… given that all goes to plan, what would the expectation be for the share price if oil were to remain around the current $65 to 70 mark? Any ideas…? Not just pie in the sky guesses please… Thanks.

onemanandhisdog 07 Jan 2020

RNS Heads of Terms with Navitas From Malcy’s blog Premier Oil A trading update, North Sea acquisitions, financing, extension of credit and Sea Lion farm-out from PMO this morning. Trading at the end of 2019 remained good, 78.4 kboed was at the upper end of guidance with Catcher as ever taking the plaudits. Big-P ticked another box while Tolmount remains the gift that keeps on giving with first gas expected end of 2020, expect 20-25 kboed for its 50% interest and of course Tolmount East operations. Elsewhere the company are releasing funds through carry of wells at Tuna which is sensible and even with exploration at the Andaman Sea which I like and hair raising stuff in Alaska gives some upside potential. The Mexican sale hasn’t happened yet for which just this once I will give the company the benefit of the doubt but capex and opex are both below guidance and net debt is down $330m to $1.99bn, who sent the CFO out into the street to sell stuff to get it below $2bn…? At Sea Lion PMO has signed HoT’s with Navitas Petroleum to farm-in for a 30% interest in the project which seems to have come up ironically before the FID supported by the debt package put together last year. It is anticipated that appointment of a new Minister is imminent and the project can fly. *see RKH comment. And there’s more…this team has been busy with the acquisition of North Sea assets from BP including the Andrew Area and the Shearwater assets for $615m and a 25% interest in Tolmount from Dana for $191m which is an absolute gimme as deals go. They add 23/- b/d of cash generative production with development upside and generate $1bn of free cash flow by 2023. So, you get 82 mmboe of reserves and contingent resources for less than $10 per barrel. The whole bang shoot will be paid for by a $500m underwritten equity raise (bridged for $300m) where the shareholders are already onside as are the bond holders who, quite rightly havent heeded any of the frankly rank diatribe by some short hedge funds who should know better. This management has been a magnificent and outstanding performer over a longer, not shorter term period, the shares will perform very well to justify the excellent position they have put the company in. Rockhopper Exploration- Proof if proof were needed… RKH with PMO have signed HoT’s with Navitas Petroleum to farm-in for a 30% interest in the Sea Lion project, a deal that slightly amends the terms but strengthens the development with progress towards sanction. Rockhopper’s costs will be met by a combination of carry and loans from Premier and Navitas until Phase 1 project completion with potential upside from the Isobel and Elaine prospects. As CEO Sam Moody says, this is a milestone for Sea Lion and RKH as Navitas has the experience in the Gulf of Mexico as well as in project finance which ‘materially strengthen the enhance the prospects’ for such a financing. ‘We regard their joining as an important catalyst as well as industry endorsement of Sea Lion’s scale (independently audited 2C resources of c.520 mmbbls) and potential (NPV10 at first oil c.$4bn**)’. Rockhopper shareholders can be delighted that all their project costs are being covered from the start of 2020 through to Phase 1 project completion which is estimated to be 9-12 months after first oil. As mentioned above, the fact that it is the farm-out of Sea Lion has turned up before the sanction and FID following last year’s extensive filing of documentation is perhaps the bigger surprise. But one that makes better reading as one must hope that with all the debt requests in and a new Ministerial appointment imminent Sea Lion is for once and for all, on the way…

dbatey22 07 Jan 2020

RNS Heads of Terms with Navitas Nice. Finally got a farm in partner, and FID in Q1 to look forward to. It has taken a while but nice to see things finally align. The PMO acquisition and rights issue announced today will help provide them with the financial strength to see this one through. They will be a much higher rated company with their debt extended too so that should smooth the way for the project finance. Only need details of the terms to see this move forward now IMO. DB

onemanandhisdog 07 Jan 2020

RNS Heads of Terms with Navitas RNS Number : 9149Y Rockhopper Exploration plc 07 January 2020 7 January 2020 Rockhopper Exploration plc (“Rockhopper” or the “Company”) Heads of Terms with Navitas Petroleum to farm-in to the Sea Lion project and associated amendments to existing agreements with Premier Oil 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 Rockhopper and Premier Oil Exploration and Production Limited (“Premier”) have signed a detailed Heads of Terms with Navitas Petroleum LP (“Navitas”) to farm in for a 30 per cent interest in the Sea Lion project (the “Transaction”). In addition, Rockhopper and Premier have agreed certain amendments to their existing commercial arrangements. Highlights · Working interests aligned across the Sea Lion licences PL032, PL004b and PL004c: Premier 40% (Operator); Rockhopper 30%; Navitas 30% · Adds additional strength to the Sea Lion joint venture which Rockhopper believes will increase the likelihood of a successful senior debt project financing for the Sea Lion Phase 1 development · Rockhopper’s costs for the Phase 1 development (not met by senior debt) to be met by a combination of carry and loans from Premier and Navitas from 1 January 2020 to Phase 1 Project Completion (estimated to occur 9-12 months after first oil) · Greater alignment and simplified commercial arrangements across the joint venture · Rockhopper maintains material share of Phase 1 project NPV, a significant 30% interest in Phase 2 Sea Lion development, and additional upside from the Isobel-Elaine area (PL004a) · Contingent consideration payable to Rockhopper by Premier and Navitas of up to US$48 million related to future phases of development in the North Falkland Basin · Finalisation of a Sale and Purchase Agreement is expected during Q1 2020 (“SPA Signing”) with completion subject to satisfaction of certain conditions including regulatory approval, expected in Q2 2020 (“Farm-in Completion”) [link]

onemanandhisdog 18 Dec 2019

RNS Egypt Operational Update RNS Number : 2314X Rockhopper Exploration plc 18 December 2019 18 December 2019 Rockhopper Exploration plc (“Rockhopper” or the “Company”) Egypt Operational Update Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, provides the following operational update in relation to the Abu Sennan concession, Egypt (“Abu Sennan”). Through Rockhopper Egypt Pty Limited, Rockhopper holds a 22% working interest in Abu Sennan. ASH-2 The commitment well, ASH-2, was spudded on 21 October 2019, and reached total depth of 4,030m measured depth (“MD”) in the Alam El Bueib Formation on 22 November 2019. The well was drilled as a vertical hole to appraise the Alam El Bueib reservoir to the WSW of the existing well ASH-1ST2, which currently produces 340 barrels of oil per day (“bopd”). Petrophysics indicate 50m of net oil pay in ASH-2. Modular formation Dynamic Tester (“MDT”) pressure data indicates the reservoir is un-depleted, close to initial reservoir pressure. The well was completed, perforated and tested with the rig on site with encouraging results. The rig was released on 10 December 2019. The well will be tested at stabilised rates once the rig has moved off site. Al Jahraa-12 (formerly WI-1) This deviated development well was spudded on 4 August 2019 and reached total depth of 4,040m MD in the Kharita Formation on 2 September 2019. Operations are ongoing to complete the well as an AR-C reservoir water injector, as was the primary objective for the well. While there was indication of oil pay in the Bahariya, the interval did not flow on test. Al Jahraa SE-1X (AJSE-1X) Following a successful frac job, production from the AR-C in well AJSE-1X has increased from approximately 200 bopd to approximately 450 bopd. Current production from Abu Sennan is approximately 5,100 barrels of oil equivalent per day (“boepd”) gross (1,120 boepd net to Rockhopper’s 22% working interest). This excludes production from ASH-2 which is awaiting final commissioning. Rockhopper’s disposal of Rockhopper Egypt Pty Limited, as announced on 23 July 2019, is subject to satisfaction of final conditions precedent, including United Oil and Gas Plc shareholder approval and is expected to complete during January 2020.

onemanandhisdog 09 Dec 2019

RNS Update Abu Sennan Transaction RNS Number : 1220W Rockhopper Exploration plc 09 December 2019 9 December 2019 Rockhopper Exploration plc (“Rockhopper” or the “Company”) Abu Sennan transaction update Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin, is pleased to provide the following progress update in relation to its previously announced disposal of Rockhopper Egypt Pty Limited to United Oil & Gas Plc (“United”). Following conditional completion of United’s equity raise, the US$16 million consideration payable to Rockhopper under the transaction will be satisfied as follows: · cash consideration of $11.5 million; and · the issue of 114,503,817 Consideration Shares (at an issue price of 3 pence) representing approximately 18.5% of United’s enlarged ordinary share capital. Consideration Shares held by Rockhopper in United are subject to certain lock-up and orderly market disposal provisions for a period of up to 12 months from completion. The process to satisfy the remaining conditions precedent, including United shareholder approval, completion of the readmission of United to trading on AIM and receipt of Egyptian government approvals, is progressing well. With United’s General Meeting scheduled for 23 December 2019, the transaction is now expected to complete in January 2020. Upon completion, and for as long as Rockhopper holds 10% or more of the entire issued share capital of United, Rockhopper will be entitled to appoint a director to the United Board. Further background to the transaction and capitalised terms can be found in the announcement dated 7 October 2019.

seanhead1 20 Nov 2019

Average down calculator Can someone help me please. I have 3319340 shares at 0.0247 (96% in the red) and wanted to know how many shares I need to buy to to be in a positive sp.

Ripley94 13 Nov 2019

LOT`S OF IF`S AND BUT`S RKH… XXXX Topped up here today @17p

onemanandhisdog 04 Nov 2019

RNS Licence Extension RNS Rockhopper Exploration plc - RKH PL032 Discovery Area Licence Extension Released 070 04-Nov-2019 RNS Number : 0604S Rockhopper Exploration plc 04 November 2019 4 November 2019 Rockhopper Exploration plc (“Rockhopper” or the “Company”) PL032 Discovery Area Licence Extension 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 the Falkland Islands Government has extended the PL032 Discovery Area licence (in which Rockhopper has a 40% working interest) (the “Licence”) until 1 May 2021, with no additional licence commitments. The Licence was previously due to expire on 15 April 2020.

Ripley94 21 Oct 2019

LOT`S OF IF`S AND BUT`S Back down to the August lows today after gaining to 21p at high point .

MarcAdmin 08 Oct 2019

New format problems

onemanandhisdog 07 Oct 2019

RNS Abu Sennan Transaction Update Rockhopper Exp plc Abu Sennan transaction update RNS Number : 9626O Rockhopper Exploration plc 07 October 2019 7 October 2019 Rockhopper Exploration plc (“Rockhopper” or the “Company”) Abu Sennan transaction update Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin, is pleased to provide the following progress update in relation to its previously announced disposal of Rockhopper Egypt Pty Limited to United Oil & Gas Plc (“United”). At close of business on 3 October 2019, all the existing joint venture partners in the Abu Sennan concession had irrevocably and unconditionality waived their pre-emption rights under the Joint Operating Agreement. The process to satisfy the remaining conditions precedent, including United shareholder approval, completion of the readmission of United to trading on AIM and receipt of Egyptian government approvals, are progressing well. The transaction remains on track to complete by the end of Q4 2019. Background to the transaction On 23 July 2019, Rockhopper announce that it had signed a share purchase agreement (“SPA”) with United Oil and Gas plc (“United”) for the sale of Rockhopper Egypt Pty Limited for consideration of US$16 million. The key asset of Rockhopper Egypt Pty Limited is a 22% working interest in the Abu Sennan concession. Under the terms of the SPA, the consideration will be satisfied by a payment by United of not less than US$11 million in cash at completion. In order to satisfy the cash component of the consideration, United has announced a prepayment financing structure of up to US$8 million with BP. In addition, United has announced the intention to raise capital through the issue of new shares simultaneously to the proposed acquisition. A proportion of such placement proceeds will be used to make a further cash payment to Rockhopper shortly after completion. Any shortfall between the headline consideration of US$16 million and the cash payments from United will be satisfied in new United shares being issued to Rockhopper (the “Consideration Shares”). The Consideration Shares issued to Rockhopper will be priced at the price at which United issue new shares as part of their proposed capital raise. Any Consideration Shares held by Rockhopper in United are subject to certain lock-up and orderly market disposal provisions for a period of up to 12 months from completion.

onemanandhisdog 18 Sep 2019

RNS Half Year Results RNS Number : 6616M Rockhopper Exploration plc 18 September 2019 18 September 2019 Rockhopper Exploration plc (“Rockhopper” or the “Company”) Half-year results for the six months to 30 June 2019 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 its results for the six months ended 30 June 2019. Year to date highlights Sea Lion Phase 1 development - project optimised; resource increased; continued focus on securing senior debt funding ahead of final investment decision · Through the FEED and optimisation processes, the Sea Lion project has been substantially de-risked from a technical, cost and schedule perspective · Resources to be developed in Phase 1 of the project have increased from 220 to 250 mmbbls (gross) with associated capex to first oil estimated at approximately US$1.8 billion (gross) · Key service and supply contracts are nearing final agreement in preparation for execution at project sanction · Continued focus on securing senior debt funding ahead of final investment decision · Preliminary Information Memorandum and comprehensive set of independent expert reports, which formed the basis of a financing guarantee application package for the senior debt component of the project financing, were submitted to potential senior lenders including export credit agencies in July 2019 Strong H1 operating and financial performance with continued focus on costs · Net working interest production averaged 1.2 kboepd · Revenue of US$4.8 million; operating costs of US$2.2 million · Cash operating costs of US$10.3 per boe - low cost base maintained · Continued management of G&A costs - US$2.4 million - down over 35% in the last 3 years · Cash resources of US$27 million at 30 June 2019 and no debt Corporate · Appointment of Keith Lough as Non-Executive Chairman following the retirement of David McManus at the Company’s AGM in May 2019 · Ombrina Mare arbitration - in June 2019 the Tribunal rejected Italy’s request for suspension and related intra-EU jurisdictional objections · Disposal of Rockhopper Egypt Pty Limited for US$16 million announced in July 2019, with completion anticipated in Q4 2019 Outlook · Progression of Sea Lion funding into detailed lender due diligence and documentation in Q4 2019 · Outcome in relation to Ombrina Mare arbitration expected in Q1 2020 - seeking significant monetary damages · Year end 2019 cash resources estimated to be in the range of US$25-30 million, depending on the final mix of consideration received upon completion of the disposal of Rockhopper Egypt Pty Limited Keith Lough, Chairman of Rockhopper, commented: "2019 has already been a busy period for the Company, and the next six months have the potential to be transformational for Rockhopper with a number of very significant catalysts ahead. "The PIM submission process marked a material milestone in the project financing process for the Sea Lion development. If, as expected, the application is well received, we anticipate moving into a phase of detailed lender due diligence and documentation during Q4 2019. “In addition, with a supportive interim ruling on jurisdiction, we remain positive on the prospects of recovering significant monetary damages through our international arbitration against the Republic of Italy in respect of Ombrina Mare and look forward to an outcome in early 2020.”