Response to press speculation

RNS Number : 0239Y

Rockhopper Exploration plc

20 January 2014

 



20 January 2014

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Response to Press Speculation

Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company, wishes to clarify speculation regarding prospective changes to the Company's board.

The Company can confirm that Peter Dixon-Clarke has the intention of stepping down as the Company's Finance Director in early 2014 and that the Company is well advanced in making an appointment of a successor. A further announcement will be made once the details of Mr Dixon-Clarke's departure have been formally agreed however it is anticipated that Mr Dixon-Clarke will remain on as consultant to the Company for an interim period to support the Company whilst his replacement is appointed.

In addition to the recent appointment of Keith Lough as a non-executive director and impending chair of the audit committee, the Company also anticipates making an additional non-executive appointment shortly that would serve to further strengthen the board.

Ends.

Enquiries:

Rockhopper Exploration plc

Tel: [phone]

Sam Moody - Chief Executive (via Vigo Communications)

Canaccord Genuity Limited (NOMAD and Joint Broker)

Tel: [phone]

Henry Fitzgerald-O'Connor

Vigo Communications

Tel: [phone]

Peter Reilly

Patrick d'Ancona

Notes to Editors:

Rockhopper was established in February 2004 with a strategy to invest in and carry out offshore oil exploration to the north of the Falkland Islands. The Company floated on AIM in August 2005 with four offshore production licences: PL023, PL024, PL032 and PL033 which cover approximately 3,800 sq. km. Rockhopper has further smaller interests in licences PL003, PL004a and PL004c, which are operated by Desire Petroleum plc. Additionally, the Company has a significant interest in licence PL004b which contains the extension to the Sea Lion Field as well as the Beverley, Casper and Casper South discoveries.

An extensive work programme was carried out over a number of years on the licences operated by Rockhopper. This has included 2D and 3D seismic and controlled source electromagnetic mapping. In February 2010, the Ocean Guardian drilling rig arrived in Falkland waters to carry out a multi-well drilling campaign. Rockhopper drilled an exploration well on Sea Lion during April and May 2010, the result of which was the first oil discovery and Contingent Resource in the North Falkland Basin. The Sea Lion discovery was successfully tested during September 2010 and June 2011 and was the first oil to flow to surface in Falkland Islands waters. Rockhopper's drilling campaign lasted from 16 April 2010 to 8 January 2012 and resulted in seven successful wells of the ten drilled, with three oil discoveries, three gas discoveries, multiple successful Sea Lion appraisal wells and a successful appraisal well on Casper.

In October 2012 Rockhopper completed a farm-out agreement with Premier Oil plc, whereby Premier Oil acquired 60 per cent. of Rockhopper's interests in its North Falkland Basin licences.

Rockhopper Exploration plc www.rockhopperexploration.co.uk 

 

END

 

 

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