Ombrina Mare Project Update

RNS Number : 9390K

Rockhopper Exploration plc

06 January 2016

 

6 January 2016

Rockhopper Exploration plc

"Rockhopper" or the "Company"

Ombrina Mare Project Update

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and Greater Mediterranean region, provides the following update on the status of the Ombrina Mare project offshore Italy.

The Italian Parliament has approved the 2016 Budget Law which reintroduces restrictions on offshore oil and gas activity including the general ban on exploration and production activity within 12 nautical miles of the coast of Italy. This restriction was originally introduced in 2010 and repealed in 2012.

Certain exceptions apply for existing production concessions and none of the Company's other interests in Italy, including the Guendalina gas field, are expected to be impacted by this new legislation. The Budget Law came into force on 1 January 2016.  

At the same time, Rockhopper has been granted a 12 month extension to the suspension of the Ombrina Mare exploration permit to 31 December 2016. Ombrina Mare is located within the 12 mile limit and the Company is conducting an in depth review of this new legislation, how the exploration permit is affected and its impact on the Ombrina Mare project.

Enquiries

For further information, please contact:

Rockhopper Exploration plc

Tel: (via Vigo Communications) - 020 7016 9571

Sam Moody - Chief Executive

Fiona MacAulay - Chief Operating Officer

Stewart MacDonald - Chief Financial Officer

Canaccord Genuity Limited (NOMAD and Joint Broker)

Tel: [phone]

Henry Fitzgerald-O'Connor

Liberum Capital (Joint Broker)

Tel: [phone]

Clayton Bush

Neil Elliot

Vigo Communications

Tel: [phone]

Peter Reilly

Patrick d'Ancona

 

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