Sea Lion funding update

RNS Number : 1077H

Rockhopper Exploration plc

30 July 2019

 

30 July 2019

Rockhopper Exploration plc

("Rockhopper" or the "Company")

Sea Lion funding update

Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to announce that the Preliminary Information Memorandum ("PIM"), which will form the basis of a loan application for the Sea Lion senior debt project financing, has been submitted to potential senior lenders.

The PIM submission is supported by a comprehensive set of independent expert reports covering the full range of technical, reservoir, HSSE, legal and tax aspects of the Sea Lion project.

As part of the PIM submission process, lender due diligence advisers, including financial and legal advisers have been appointed.

Sam Moody, CEO of Rockhopper, commented:

"The submission of the PIM marks a material milestone in the project financing process for the Sea Lion development.  Should the application be well received, we anticipate moving into a phase of detailed lender due diligence and documentation during Q4 2019."

Enquiries:

Rockhopper Exploration plc

Sam Moody - Chief Executive Officer
Stewart MacDonald - Chief Financial Officer

Tel. [phone] (via Vigo Communications)

Canaccord Genuity Limited (NOMAD and Joint Broker)

Henry Fitzgerald-O'Connor

James Asensio

Tel. [phone]

Peel Hunt LLP (Joint Broker)

Richard Crichton

Tel. [phone]

Vigo Communications

Patrick d'Ancona

Ben Simons

Tel. [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

 

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