Rockhopper Exploration (LSE:RKH) has successfully completed a heavily oversubscribed open offer to qualifying shareholders, raising approximately £6.9 million in gross proceeds. The company received valid applications for 101.96 million shares, representing around 773% of the 13.19 million shares available under the offer, highlighting strong investor demand.
The new ordinary shares are expected to be admitted to trading on AIM on 21 January 2026. Following admission, Rockhopper’s issued share capital will increase to around 860.5 million ordinary shares, all carrying full voting rights. The fundraising provides additional financial support as the company continues to progress development of the Sea Lion field in the North Falkland Basin alongside project operator Navitas.
Despite the positive funding outcome, Rockhopper’s overall outlook remains constrained by an uneven financial track record. The business continues to generate limited recurring revenue, with profits and operating performance subject to volatility, even though the balance sheet remains relatively strong. Technical indicators also present a headwind, with the shares trading below key moving averages and negative MACD signals. Improved cash flow in 2024 and low leverage provide some mitigation, but valuation remains difficult to assess based on available data.
More about Rockhopper Exploration
Rockhopper Exploration is a UK-based oil and gas exploration and production company focused on the Falkland Islands. The Group holds a 35% interest in licences within the North Falkland Basin, where it discovered the Sea Lion oil field in 2010 and has since sanctioned its development. Rockhopper’s shares trade on London’s AIM market under the ticker RKH.
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