Rockhopper Exploration

Canaccord Genuity acts as Sole Bookrunner to Rockhopper Exploration plc on its $140 million Fundraising

Canaccord Genuity is pleased to announce it has acted as Sole Bookrunner to Rockhopper Exploration plc (“Rockhopper” or the “Company”) on its conditional, two-tranche placing with new and existing institutional investors globally (the “Placing”).

Rockhopper is an Exploration & Production company with its core asset being a 35% non-operating interest in the Sea Lion oil field, located offshore in the North Falkland Islands Basin (“Sea Lion”).

The proceeds of the Placing are expected to fund Rockhopper's proportion of the Phase 1 development plan for Sea Lion (total funding required to first oil expected to be c.US$1.658 billion). The Phase 1 scope is over the northern development area of Sea Lion and is designed to recover 170 mmbbls of gross 2C resource through the drilling of seven oil producer wells, one gas injector and three water injector wells (“Phase 1”).

The Placing monies will initially be held in escrow and completion is conditional, inter alia, on the taking of a Financial Investment Decision and sanctioning of Phase 1, which is anticipated in H2 2025.