Rockhopper Exploration plc (LSE:RKH) has launched a conditional equity fundraising round through a two-part placing of new shares and warrants, targeting up to approximately US$140 million. The capital raised will support Phase 1 development of the Sea Lion oil field in the North Falkland Basin. This funding is vital for Rockhopper to secure the necessary equity financing required to proceed with the project’s final investment decision, which is projected to recover around 170 million barrels of oil.
The company aims to strengthen its financial position, reducing the need for further equity issuance while positioning itself for long-term value creation. The Board is confident that this capital raise will underpin the successful advancement of the Sea Lion project and enhance shareholder returns.
About Rockhopper Exploration
Rockhopper Exploration plc is an oil and gas exploration and development company with a focus on the North Falkland Basin. Its flagship asset is the Sea Lion oil field, a key project in the company’s growth strategy.
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