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Rockhopper Exploration (RKH)
markymar
- 15 Aug 2005 15:14
http://www.falklands-oil.com/
http://www.rockhopperexploration.co.uk
http://www.argosresources.com/
Rockhopper was established in 2004 with a strategy to invest in and undertake an offshore oil exploration programme in the North Falkland Basin. It was floated on AIM in August 2005. Rockhopper was the first company to make a commercial oil discovery in the Falklands. Today Rockhopper is the largest acreage holder in the North Falkland Basin, with interests in the Greater Mediterranean region.
HARRYCAT
- 15 Sep 2015 08:04
- 6246 of 6294
Rockhopper has widened its H1 pretax loss to $5.1m, from a loss of $3.2m. Revenue was $1.8m, from $0.8m.
Chairman Pierre Jungels said:
"We have enjoyed a fantastic start to our 2015 North Falkland Basin exploration campaign with two material oil discoveries and, through the Isobel Deep well, the opening of a new play in a previously underexplored part of the basin. We look forward to the results of two further high-impact wells in the campaign during the remainder of 2015.
"Progress at Sea Lion continues, despite the challenging market environment, with the award of major FEED contracts targeted during the fourth quarter of this year. These contracts, once awarded, will represent another significant milestone on the path towards project sanction.
"We continue to invest and grow our second core area in the Greater Mediterranean and North Africa region where we expect to see a material increase in production and cash flow over the next six months."
HARRYCAT
- 23 Nov 2015 08:49
- 6247 of 6294
Rockhopper Exploration said the 14/20-2 'Isobel - 2' well was spudded, by operator Premier Oil on Nov. 21. The well is located on licence PL004a in which Rockhopper has a 24% working interest and is an exploration well on the Isobel/Elaine fan complex.
The Well, which will be a re-drill of the Isobel Deep formation at that reservoir level will also intercept four other fans within the complex comprising Irene, Doreen Elaine South and Isobel.
The Well is located approximately 4.2km from the Isobel Deep well (14/20-1), which penetrated the first 24m of the Isobel Deep reservoir but failed to reach Total Depth owing to operational issues in May of this year.
HARRYCAT
- 24 Nov 2015 08:41
- 6248 of 6294
Rockhopper and Falkland Oil & Gas have agreed the terms of a recommended all-share merger. Falkland shareholders would receive, for every one share they own, about 0.2993 Rockhopper shares.
The merger values Falkland Oil & Gas at about OGBP57.1m, and each of its shares at 10.70p.
The combined Group is expected to:
o be the largest North Falkland Islands licence and discovered resource holder with a material working interest in all key licences;
o have enhanced prospects of progressing the Sea Lion project through final investment decision;
o have greater exposure to exploration and appraisal upside potential; and
o benefit from enhanced scale and capabilities creating value in the current market environment.
required field - 24 Nov 2015 10:28 - 6249 of 6294
markymar
- 24 Nov 2015 13:33
- 6250 of 6294
cynic
- 24 Nov 2015 13:36
- 6251 of 6294
markymar
- 24 Nov 2015 13:57
- 6252 of 6294
HARRYCAT
- 06 Jan 2016 08:28
- 6253 of 6294
Rockhopper Exploration said the Italian Parliament has approved the 2016 Budget Law that 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 first 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.
HARRYCAT
- 11 Jan 2016 08:24
- 6254 of 6294
Oil Discovery
Highlights
· Net oil pay of 27m
· No Oil Water Contact or gas encountered
· Oil discovery confirmed at Isobel Deep
· Additional oil bearing F3 reservoirs
The Well is located on licence PL004a in which Rockhopper has a 24% working interest which will increase to 64% following completion of the merger with Falkland Oil & Gas (anticipated to occur on the 18 January 2016).
The Company can confirm that the Isobel Deep reservoir has been successfully re-drilled and that the Well reached a total depth of 3014m below sea level, in a location some 4km from the Isobel Deep discovery well. The location of the Well was also in a position that intercepted the edges of a number of additional fans within the Isobel / Elaine complex.
The Company is delighted to announce that the Well encountered a total of five oil bearing fan packages of the F3 system, with net pay of 27m recorded within the Isobel Deep, Isobel and Emily reservoirs.
Additionally, whilst sand with oil shows was recorded in the Elaine South and Irene fans, reservoir quality was low (as had been anticipated) given the nature of the location at the very edge of the fan bodies. The Company anticipates that better reservoir can be found in the main bodies of those fans.
The Well did not encounter any gas nor did it penetrate an Oil Water Contact within any of the sands in this location, where the Isobel Deep reservoir is 350m downdip from the discovery well. The results indicate that the total oil column established by this second well is likely to be in excess of 480m.
Whilst the data acquired is still to be fully evaluated and integrated, the initial view of the Company is that the results of this Well indicate that the Isobel / Elaine complex is highly likely to contain a commercially viable quantity of recoverable oil.
The Well will now be plugged and abandoned as planned before moving to the final well of the programme, Chatham.
markymar
- 11 Jan 2016 11:03
- 6255 of 6294
greekman
- 11 Jan 2016 15:35
- 6256 of 6294
With the problems round the world, especially the middle east becoming worse almost by the day, my bet is that the POO by 2020 will be at least as high as those in 2008 and probably more.
I agree though that if there is a big producer out there waiting to pick up a large stake in the FI fields, they could make a move quickly at a low price.
HARRYCAT
- 13 Jan 2016 08:38
- 6257 of 6294
Rockhopper Exploration has issued an update on its Sea Lion development.
Timing and Project Highlights:
* Pre-FEED work for Phase 1a of the Sea Lion development recently completed
* Project entering FEED with the award of FPSO FEED contract to SBM Offshore ("SBM")
* Preferred contractors selected for the provision of the various subsea system facilities - subsea FEED contract awards expected during Q1 2016
* Significant technical and cost improvements and efficiencies have been identified to materially enhance overall project economics
* Draft Field Development Plan prepared and submitted to the Falkland Island Government
required field - 13 Jan 2016 09:26 - 6258 of 6294
HARRYCAT
- 03 Feb 2016 09:00
- 6259 of 6294
Rockhopper Exploration has, further to its January announcement, been informed by Italy's Ministry of Economic Development that the Production Concession covering the Ombrina Mare Field Area will now not be awarded.
This is despite the Ombrina Mare project having completed all the required technical and environmental authorisations.
This follows re-introduction of a ban on exploration and production activity within 12 nautical miles of the coast of Italy.
Rockhopper retains its interest in the exploration permit covering the Ombrina Mare Field Area. An extension to the suspension of the Ombrina Mare exploration permit was recently granted to 31 December 2016.
The Company is now considering its options which include both a claim for damages and compensation against the Republic of Italy under International Treaties for the protection of foreign investments, and in particular the arbitration process provided for under the Energy Charter Treaty.
None of the Company's other interests in Italy, including the Guendalina gas field, are expected to be impacted by the changes in legislation.
markymar
- 03 Feb 2016 10:29
- 6260 of 6294
Rockhopper Exploration (LON:RKH) has confirmed that law changes in Italy mean that a production concession will not be awarded for the Ombrina Mare field.
It told investors that Ombrina Mare had all necessary technical and environmental authorisations, however, the project won’t go ahead due to the re-introduction of a ban on exploration and production activity within 12 nautical miles of the Italian coast.
The company said it is now considering its options, which could include a claim for damages and compensation from the Republic of Italy under international treaties.
Meanwhile, the company said that none of its other interests in Italy, including the Guendalina gas field, are expected to be impacted by the changes in legislation.
Rockhopper acquired its Italian portfolio in the 2014 takeover of Mediterranean Oil & Gas, which initially cost £29.3mln.
It came as Rockhopper moved to diversify its portfolio, which at that time comprised solely of its Falklands operations.
This new regulatory problem marks another disappointment for the Mediterranean unit. Shortly after the deal completed in 2014, an exploration well offshore Malta was abandoned as it failed to find hydrocarbons.
More recently at Guendalina, in the Northern Adriatic Sea, a side-track well was successfully completed and all targeted reservoirs were seen to be gas bearing.
Guendalina was producing around 440,000 standard cubic metres (scm) of gas per day gross, in late 2015, which amounts to 88,000 scm or 580 barrels oil equivalent per day to Rockhopper. The company expects to generate around US$7mln of revenue from the field in 2016.
In November, Rockhopper announced the start of production from the Civita gas field which is adds about 25,000 scm or 160 barrels of oil equivalent (boe) production per day. Together with Guendalina, Rockhopper expects revenues for 2016 will amount to around US$9mln.
greekman
- 12 Feb 2016 07:14
- 6261 of 6294
The Eirik Raude wants scraping as that just about all its worth, after all who would want to risk hiring this worthless piece of dit after the latest fiasco, especially with a huge number of rigs in dock waiting for customers.
HARRYCAT
- 12 Feb 2016 08:18
- 6262 of 6294
Rockhopper Exploration announces that Premier Oil has served a notice to terminate the rig contract with Ocean Rig UDW with immediate effect.
The notice to terminate follows a number of operational issues with the Eirik Raude rig. As a result, the drilling of the Chatham well - the final well in current campaign - will now be deferred until the Sea Lion pre-development drilling campaign.
The postponement of the Chatham well has no impact on the planning or timetable for the Field Development Plan for the Sea Lion initial phase development.
Bullshare
- 12 Feb 2016 11:09
- 6263 of 6294
Shares Investor Evenings showcase up to four presentations from leading companies bringing them together in one room for one evening only.
Directors present their latest plans regarding development and growthAn opportunity to talk directly to the companies and personally put forward your questionsThe chance to network with other attendees over drinks and canapés - private investors, wealth managers, private client brokers, fund managers and financial institutionsThe evening exposes investors to companies across various sectors. Perfect for existing investors as well as those looking for new investment opportunities.
Thursday 25th February 2016
Venue:Radisson Blu Hotel Edinburgh, 80 High Street, The Royal Mile, Edinburgh, EH11TH
Event Timings:| 17.30 | Registration and coffee | |
| 17.55 | Presentations • Phil Reason, CEO - Instem (INS) • Michael Hunt, CFO - ReNeuron Group (RENE) • Stewart MacDonald, CFO - Rockhopper Exploration (RKH) • Mark Beveridge, FD - Safestay (SSTY) • Philip Houghton, CEO - Safestay (SSTY) • Richard Gray, CEO - Scotgold Resources (SGZ) • Dr. Satu Vainikka, CEO - Valirx (VAL) | |
| 20.45 | Drinks reception and canapés | |
| 21.45 | Close |
 | Instem is a robust and profitable provider of IT applications and technology enabled services to life sciences R&D. Instem helps clients to bring life enhancing products to market faster, with the potential for significant return on their investment. Instem’s solutions are essential to over 400 clients worldwide in areas such as: · Collection, analysis and reporting of complex scientific data· Compliance with regulatory submission requirements, including the FDA-mandated SEND initiative· Improving quality, consistency and efficiency of critical R&D processes and corresponding information reporting· Generating new scientific insights through identification, extraction and analysis of actionable information Instem anticipates continued organic and acquisitive growth in a buoyant life sciences industry. |
 | ReNeuron is a leading, clinical-stage cell therapy development business. Based in the UK, its primary objective is the development of novel cell-based therapies targeting areas of significant unmet or poorly met medical need. ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered “off-the-shelf” to any eligible patient without the need for additional immunosuppressive drug treatments. The Company’s therapeutic candidates for stroke disability and critical limb ischaemia are in clinical development and its cell-based treatment for blindness-causing diseases of the retina is currently in pre-clinical development. ReNeuron is also advancing a proprietary platform technology to exploit nanoparticles (exosomes) secreted by stem cells as potential new drug candidates targeting indications in tissue repair, fibrosis and cancer. |
 | Rockhopper Exploration plc ("Rockhopper") is an AIM listed oil and gas exploration company based in the UK with interests in the Falkland Islands. It was established in 2004 with a strategy to invest in and undertake an offshore oil exploration programme. It was floated on AIM in August 2005. Rockhopper holds 40% interests in production licences PL032 and PL033 and, on completion of a farm-in announced in October 2013, 24% stakes in blocks PL004a, PL004b, and PL004c. All of these blocks are operated by Premier Oil. In addition, it has a 3% interest block PL003, operated by Falkland Oil and Gas. In August 2014 Rockhopper completed the takeover of Mediterranean Oil & Gas plc ("MOG"). Through the acquisition of MOG, Rockhopper now holds a portfolio of production, development/appraisal and exploration interests in Italy, Malta and France. |
 | Safestay PLC is the owner operator of a branded contemporary “boutique” hostel group. The first Hostel in the Elephant and Castle, London was opened in June 2012.The Safestay Business operates a new brand of contemporary hostel, designed to appeal to a broad range of guests. Known as a “boutique hostel” within the travel industry, it is aimed at providing safe, stylish accommodation which offers a more attractive alternative to both traditional hostels and budget hotel accommodation. |
 | Australian Securities Exchange listed Scotgold Resources Limited (ASX:SGZ) was established in 2007 and listed on the ASX in January 2008. The company’s shares were admitted to trading on the AIM market of the London Stock Exchange (AIM:SGZ) in February 2010. The Company’s principal objective, since 2008, has been the advancement of the Cononish Gold and Silver Project in Scotland’s Grampian Highlands to a production decision and exploration of the highly prospective tenements comprising the Grampian Gold Project with the view of identifying further project opportunities. |
 | Valirx Plc is an oncology-focussed Biopharmaceutical Company, developing treatments and diagnostics. Technologies are selected by using rigorous clinical and commercial processes to address unmet market needs. Clinical lead product is VAL201, a peptide for prostate cancer with follow-on indications in ovarian and breast cancers and endometriosis. Product VAL401, is a small molecule reformulation for lung cancers. The Company’s proprietary technology platform, GeneICE, enables selective silencing of rebellious genes’ inappropriate activity. VAL101, the first GeneICE therapeutic, targets and reduces expression of Bcl-2, implicated in about half of cancers. GeneICE extension to neurology and inflammatory diseases will follow. A novel diagnostic, the Nav3 system, detects pre-cancerous, cancerous and metastatic cells in tissue samples even before a tumour forms; indicating potential malignant formation. |
HARRYCAT
- 13 Apr 2016 08:18
- 6264 of 6294
Rockhopper has booked a FY pretax loss of USD44.7m, which is materially wider than the preceding year's loss of USD7.6m. Revenue improved to USD3.97m, from USD1.91m.
The result included UD22.9m of exploration and evaluation expenses, from USD1.8m.
Chairman Pierre Jungels intends to retire after the company's AGM. He commented on the performance:
"2015 has been transformational for your Company. Through our merger with Falkland Oil & Gas we have consolidated our leading acreage and resource position in the North Falkland Basin.
"Our exploration campaign has achieved significant success with multiple oil discoveries at Zebedee and Isobel Deep.
"The potential of the Isobel-Elaine complex, in a previously underexplored part of the basin, has been materially de-risked and supports management's view that the North Falkland Basin could ultimately deliver a billion barrels of recoverable oil.
"The Sea Lion project has entered FEED - another significant milestone on the path towards project sanction.
"Going forward, we anticipate additional cost reduction opportunities being pursued during FEED to further enhance the economics of the Sea Lion project as we move towards a project sanction decision point in mid-2017.
"Premier Oil has confirmed its intention to seek an additional partner ahead of taking project sanction and Rockhopper will support Premier Oil in this initiative.
"Our Greater Mediterranean business has seen a step-change in production having achieved an exit rate for 2015 of over 700 barrels of oil equivalent per day. We will continue to pursue opportunities which add low-cost, value-accretive production to our portfolio whilst preserving our strong balance sheet."
HARRYCAT
- 18 Apr 2016 08:02
- 6265 of 6294
Rockhopper Exploration plc (AIM: RKH), is pleased to announce amended terms for the acquisition of a portfolio of non-operated production and exploration interests in Egypt (the "Interests") from Beach Energy Limited ("Beach Energy") (the "Acquisition").
The Company originally announced that it had agreed terms with Beach Energy on the Acquisition in August 2015. However, due to the exercise by one of the partners of pre-emption rights on the Abu Sennan concession, as announced in September 2015, it was not possible to complete the Acquisition on the original terms.
The Company believes the amended terms of the Acquisition, announced today, which now exclude any share consideration, represent a material improvement in the prospective value of the transaction for Rockhopper shareholders.
Highlights
· Rockhopper to acquire the entire issued share capital of Beach Petroleum (Egypt) Pty Limited ("Beach Egypt") which on completion will hold:
o 22% interest in the Abu Sennan concession; and
o 25% interest in the El Qa'a Plain concession
· Cash consideration for the Acquisition of approximately US$11.9 million, payable on completion. No share consideration. Beach Energy retains the economic benefit of the EGPC receivable as at 31 December 2015, being approximately US$8.6 million (see Financial Information below)
· In addition, on the date of entering into the amended Acquisition agreement, Rockhopper has agreed the terms of a non-binding letter of intent with Dover Petroleum Corporation ("Dover"), an affiliate of an existing partner in the Abu Sennan concession, for the sale by Rockhopper of a 5% interest in the Abu Sennan concession (the "Proposed Dover Transaction") (see further details below)
· In the event that the Proposed Dover Transaction completes, Rockhopper's interest in the Abu Sennan concession would reduce to 17% and the overall transaction metrics would be as follows:
o Net cash consideration reduced from approximately US$11.9 million to approximately US$9.3 million
o Expected working interest production, net to Rockhopper, of approximately 1,000 boepd (based on average H2 2015 production levels)
o 2P plus 2C reserves and resources, net to Rockhopper, of approximately 3.5 mmboe (management estimate)
o Implied transaction multiple of US$2.7 per barrel of oil equivalent
· Acquisition anticipated to complete in mid 2016 (subject to satisfaction of certain conditions)
· The Acquisition, when combined with existing production in Italy, raises the Company's full-year guidance for 2016 economic production to between 1,500 and 1,800 boepd
Sam Moody, CEO, commented:
"A patient approach to this transaction has paid dividends for Rockhopper and we are delighted to have reached agreement with Beach on the amended terms of the acquisition of Beach Egypt. We believe this deal is a strategically important step, perfectly suited to the current economic environment for the industry, where low cost, cash generative assets are increasingly important.
With the upfront cash consideration payable broadly flat and reducing in the event of the Proposed Dover Transaction, the implied transaction multiple falls to US$2.7 per barrel of oil equivalent.
With low unit cash operating costs at approximately US$8 per barrel in 2015, we expect this portfolio to be net cash flow positive, even in the current oil price environment, and upon completion of the transaction expect operating cash flows from Egypt and our existing Italian assets to broadly cover Group overheads going forward.
The Acquisition also represents the continuation of Rockhopper's strategy to build a full cycle E&P company focused on its two core areas and represents the Company's entry into Egypt, a prolific hydrocarbon province."
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