Question 1

By what date did Rockhopper need to obtain Italian regulatory clearance to avoid execution risk on its disposal of Italian assets?

Accepted Answer

Italian regulatory clearance had to be obtained by the extended long stop date of 30 June 2026; failing to obtain it by then gave either Rockhopper or Zodiac the right to withdraw.

Question 2

How much did an updated NSAI technical report increase Rockhopper’s net present value for its 35% interest?

Accepted Answer

An updated independent technical report increased the net present value of Rockhopper’s 35% interest in 2P plus 2C by about $788 million, versus its previous NSAI evaluation from December 2025.

Question 3

What placing and open offer did Rockhopper launch to fund OSX-1?

Accepted Answer

Rockhopper launched a substantial placing alongside an open offer, both priced at 70p per share, to secure funding for its share of the OSX-1 acquisition and associated work.

Question 4

How are the proceeds from Rockhopper Exploration’s 27 August 2026 fundraising allocated?

Accepted Answer

Rockhopper Exploration said the funds would cover about $100m for CDA and OSX-1 through mid-2028, about $20m for exploration and well-deepening under NDA Phase 1, about $20m for early project failure contingencies, and about $60m held as broader contingency.

Question 5

What amount has Rockhopper earmarked for CDA and OSX-1 funding through mid-2028 for the Sea Lion plan?

Accepted Answer

Rockhopper earmarked US$100 million for CDA and OSX-1 funding through mid-2028, to help fund its 35% pro rata share of the OSX-1 acquisition plus related pre-FID costs.

Question 6

What capital raising does Rockhopper Exploration plan on 27 August 2026?

Accepted Answer

On 27 August 2026, Rockhopper Exploration planned to raise about $180 million via a placing of new shares and an open offer for a further $20 million, both priced at 70p per share.

Timeline

Rockhopper Exploration

Rockhopper flags Argentine pressure on Sea Lion contractors

Rockhopper launches $180m placing for Sea Lion expansion

Rockhopper reserves upgrade lifts Sea Lion value by $788m

Rockhopper plans capital raise as Navitas commits to scale up Sea Lion field

Rockhopper Italian asset sale in limbo as regulatory deadline passes

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