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Pin to quick picksRockhopper Share News (RKH)

Share Price Information for Rockhopper (RKH)

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Share Price: 13.40
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Assessing Rockhopper's Falklands campaign

Thu, 01st Dec 2011 17:04

Rockhopper Exploration is, perhaps, the most intriguing stock on the AIM exchange. Taken in isolation this oil exploration company, with a market capitalisation of £745m, is interesting in its own right.Rockhopper cannot, however, be taken in isolation because its interests in the seas off the Falkland Islands and its success, so far, in discovering perhaps 400m barrels of oil make it politically as well as commercially fascinating. Rockhopper was formed in 2004 with the express aim of finding oil in the pre-historic river basins which lie to the north of the Falklands Islands and which are now covered by the bitter waters of the South Atlantic. In April 2010 the company achieved its objective with well "14/10-2" in the Sea Lion basin, the first discovery of oil in the Falkland Islands. Tests showed this first well flowing at a rate of 2,000 barrels of oil per day. A subsequent well dug two kilometres away then showed possible flow rates of 2,700 barrels of per day. Earlier in 2011 one well was "flow tested" at 5,500 barrels per day.The mid case estimate for the amount of oil is now 389m barrels of recoverable oil. With black gold currently selling for around $110 per barrel the Sea Lion discovery could yield a value in excess of $4bn.It's these numbers which have pushed Rockhopper shares up 435% since April last year. In fact, some might expect Rockhopper to be valued even higher than its current 264.5p. Thus, EVO Securities has a target price of 450p, while analysts at Merchant Securities are aiming at 428p.The trouble is several questions surround Rockhopper's prospects. The most significant, according to Andrew Matharu, Head of Oil & Gas at West House Securities, is that a "mini Aberdeen" would need to be built on the Falkland Islands to handle the vast amount of oil that would be pumped up from the ocean floor.The construction of industrial grade infrastructure in-and-around Port Stanley may cost £2bn. Finding finance for such a large development will be a particular challenge for Rockhopper in the current climate.The second problem is that whoever does decide to take on the infrastructure project will face a deafening silence from Argentina which for obvious reasons is not expected to provide any logistical support. Given the isolated position of the Falkland Islands this will increase complexity and cost. It is also possible (if unlikely) that Argentina may be militarily provoked when it finds hundreds of millions of dollars in oil money being made on its doorstep, in territory it considers its own.Rockhopper, in other words, is no racing certainty. Raising money could be difficult, putting in the infrastructure will be technically challenging and if the neighbours get shirty then things really would get choppy.Recent, further discoveries of oil, however, are firming up the belief that Rockhopper could really make it to full production of the Sea Lion basin. Early in November the company dug well "14/10-9" which firmed up expectations of achieving the mid case scenario of 389m barrels. Merchant Securities believes this latest discovery was a critical development: "because the primary investment thesis for Rockhopper is about value recognition. We do not need more exploration success; we need only to firm-up the mid-case estimate."BS
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21 Jun 2024 12:36

Rockhopper receives first funds from Ombrina Mare arbitration

(Sharecast News) - Rockhopper Exploration announced the receipt of the first tranche of funds from the monetisation of its Ombrina Mare arbitration award on Friday.

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21 Jun 2024 10:53

Rockhopper Exploration receives first tranche of Ombrina Mare payment

(Alliance News) - Rockhopper Exploration PLC on Friday said that it has received the first tranche payment in relation to the monetisation of its Ombrina Mare arbitration award.

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18 Jun 2024 15:27

UK shareholder meetings calendar - next 7 days

Wednesday 19 June 
Argentex Group PLCAGM
Brave Bison Group PLCAGM; vote on capital reduction
Clean Power Hydrogen PLCAGM
HC Slingsby PLCAGM
Maintel Holdings PLCAGM
Octopus Renewables Infrastructure Trust PLCAGM
RBG Holdings PLCAGM
Team17 Group PLCAGM
Videndum PLCAGM
Zinnwald Lithium LtdAGM
Thursday 20 June 
Angling Direct PLCAGM
Anglo Asian Mining PLCAGM
Animalcare Group PLCAGM
ASA International Group PLCAGM
Balanced Commercial Property Trust LtdAGM including re views on strategic review
Block Energy PLCAGM
boohoo Group PLCAGM
Card Factory PLCAGM
Concurrent Technologies PLCAGM
Cordiant Digital Infrastructure LtdAGM
Corero Network Security PLCAGM
Cykel AI PLCGM re acquisition by Mustang Energy PLC
Futura Medical PLCAGM
Good Energy Group PLCAGM
Gresham House Energy Storage Fund PLCAGM
Henderson Eurotrust PLCGM re merger with Henderson European Focus Trust PLC
Kingfisher PLCAGM
Likewise Group PLCAGM
LSL Property Services PLCAGM
Marble Point Loan Financing LtdEGM requisitioned by Freestone
Mustang Energy PLCGM re acquisition of Cykel AI PLC
Northcoders Group PLCAGM
Strix Group PLCAGM
Thor Energy PLCGM re equity raise
Friday 21 June 
All Things Considered Group PLCAGM
Monday 24 June 
Anglo-Eastern Plantations PLCAGM
Cizzle Biotechnology Holdngs PLCAGM
Cobra Resources PLCAGM
Diaceutics PLCAGM
Ithaca Energy PLCAGM
Network International Holdings PLCAGM
Oriole Resources PLCAGM
Oxford Biomedica PLCAGM
Savannah Resources PLCAGM
THG PLCAGM
Trinity Exploration & Production PLCAGM
World Chess PLCAGM
Tuesday 25 June 
Alphawave IP Group PLCAGM
Anpario PLCAGM
Aurrigo International PLCAGM
Elixirr International PLCAGM
Future Metals NLGM
Gemfields Group LtdAGM
Huddled Group PLCAGM
ICG Enterprise Trust PLCAGM
IQE PLCAGM
Roadside Real Estate PLCAGM
Rockhopper Exploration PLCAGM
Saga PLCAGM
Skillcast Group PLCAGM
Verici Dx PLCAGM
Vertu Motors PLCAGM
Vietnam Enterprise Investments LtdAGM
Xeros Technology Group PLCAGM
  
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A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.

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17 Jun 2024 17:38

IN BRIEF: Rockhopper updates on Ombrina Mare arbitration award

Rockhopper Exploration PLC - Salisbury, England-based oil and gas exploration company with key interests in the Falkland Islands - In December, Rockhopper said it had entered an agreement with a regulated specialist fund for monetisation of an arbitration award. Award, announced in late August 2022, relates to arbitration against Republic of Italy relating to the Ombrina Mare oil field. On Monday, says all conditions for transaction have been satisfied. Adds that tranche one payment is due within five days.

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24 May 2024 14:45

TRADING UPDATES: Samarkand optimistic as eyes adjusted loss reduction

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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22 Jan 2024 14:00

IN BRIEF: Rockhopper notes Navitas update on the Sea Lion asset

Rockhopper Exploration PLC - Salisbury, England-based oil and gas exploration company with key interests in the Falkland Islands - Notes Navitas Petroleum LP's update on the Sea Lion asset. Says Navitas has identified suitable and available existing floating production storage and offloading vessels, and is actively working with leading industry vendors to secure all long lead equipment, continuing to target Sea Lion phase 1 final investment decision in 2024 and first oil at the end of 2026.

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20 Dec 2023 12:16

IN BRIEF: Rockhopper shares leap up on new monetisation deal

Rockhopper Exploration PLC - Salisbury, England-based oil and gas exploration company with key interests in the Falkland Islands - Enters agreement with a regulated specialist fund for monetisation of an arbitration award. Award, announced in late August, 2022, relates to arbitration against Republic of Italy relating to the Ombrina Mare oil field. Rockhopper will retain legal and beneficial ownership of the award, and the fund will make cash payments in up to three tranches. Will retain around EUR15 million of upfront payment of EUR45 million on completion, due to previous litigation funding agreement in 2017.

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28 Sep 2023 15:08

TRADING UPDATES: Rockhopper loss widens; Synectics inks new contract

(Alliance News) - (Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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16 Aug 2023 08:42

Rockhopper names ex-Cairn Energy CEO as non-executive chair

(Alliance News) - Rockhopper Exploration PLC on Wednesday appointed Simon Thomson as its new non-executive chair, effective from October 1.

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13 Jul 2023 13:54

IN BRIEF: Rockhopper makes progress in Italy dispute

Rockhopper Exploration PLC - Salisbury, England-based oil and gas exploration and production company - Says a provisional stay of enforcement will be lifted provided that it establishes an escrow account within the next five working days. This comes after Italy sought to annul an August 2022 award favouring Rockhopper under the Energy Charter Treaty. This resulted in an arbitration panel saying that Italy had breached its obligations under the award and thus owed Rockhopper EUR190 million in compensation.

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22 Jun 2023 15:44

UK shareholder meetings calendar - next 7 days

Friday 23 June 
Cadogan Petroleum PLCAGM
Mears Group PLCAGM
Non-Standard Finance PLCAGM
Ocean Harvest Technology Group PLCAGM
Oxford Biomedica PLCAGM
Pelatro PLCAGM
Petrofac LtdAGM
Princess Private Equity Holding LtdAGM
Rathbones Group PLCGM re agreement regarding all-share combination with Invested Wealth & Investment Ltd
Supply@Me Capital PLCGM re open offer warrantholders
Vietnam Enterprise Investments LtdAGM
VPC Specialty Lending Investments PLCAGM
Monday 26 June 
Aterian PLCAGM
Capricorn Energy PLCAGM
Corre Energy BVAGM
Facilities by ADF PLCAGM
Lexington Gold LtdSGM re proposed acquisition of White Rivers Exploration Ltd
LifeSafe Holdings PLCAGM
Premier African Minerals LtdAGM
Vast Resources PLCGM re issuing new share capital
Volvere PLCAGM
Tuesday 27 June 
Acuity RM Group PLCAGM
Comptoir Group PLCAGM
Creo Medical Group PLCAGM
First Tin PLCAGM
Forward Partners Group PLCAGM
Galantas Gold CorpAGM
Gemfields Group LtdAGM
Golden Prospect Precious Metals LtdAGM
Hamak Gold LtdAGM
ICG Enterprise Trust PLCAGM
Impellam Group PLCAGM
India Capital Growth Fund LtdAGM
Inspiration Healthcare Group PLCAGM
Instem PLCAGM
JD Sports Fashion PLCAGM
Kingfisher PLCAGM
Mercantile Ports & Logistics LtdGM re equity fundraising
Mobile Tornado Group PLCAGM
Revolution Beauty Group PLCAGM
Scottish Mortgage Investment Trust PLCAGM
Serabi Gold PLCAGM
Sondrel Holdings PLCAGM
Surface Transforms PLCAGM
Surgical Innovations Group PLCAGM
Trinity Exploration & Production PLCAGM
Wednesday 28 June 
Atalaya Mining PLCAGM
Avacta Group PLCAGM
Boku IncAGM
Cambridge Cognition Holdings PLCAGM
Cizzle Biotechnology Holdings PLCAGM
Cobra Resources PLCAGM
Cora Gold LtdAGM
Dial Square Investments PLCAGM
Itaconix PLCAGM
NB Distressed Debt Investment Fund LtdAGM
Panthera Resources PLCGM re directors’ authority to allot shares
Phoenix Spree Deutschland LtdAGM
Pineapple Power Corp PLCAGM
Polarean Imaging PLCAGM
RA International Group PLCAGM
Schroder European Real Estate Investment Trust PLCAGM
Shield Therapeutics PLCAGM
St Mark Homes PLCAGM
Star Phoenix Group LtdAGM
ValiRx PLCAGM
Velocys PLCAGM
Vertu Motors PLCAGM
Warpaint London PLCAGM
Westminster Group PLCAGM
Zenova Group PLCAGM
Thursday 29 June 
3i Group PLCAGM
Africa Opportunity Fund LtdAGM
Anemoi International LtdAGM
Anpario PLCAGM
Ariana Resources PLCAGM
Beowulf Mining PLCAGM
Celadon Pharmaceuticals PLCAGM
Cornish Metals IncAGM
East Imperial PLCAGM
East Star Resources PLCAGM
Eden Research PLCAGM
Engage XR Holdings PLCAGM
First Class Metals PLCAGM
Gresham House Energy Storage Fund PLCGM re remuneration policy
Gusbourne PLCAGM
HeiQ PLCAGM
Helios Underwriting PLCAGM
Ingenta PLCAGM
IQE PLCAGM
Kooth PLCAGM
Landore Resources LtdAGM
Let's Explore Group PLCAGM
Likewise Group PLCAGM
MGC Pharmaceuticals LtdGM re issue of convertible notes
Morgan Advanced Materials PLCAGM
NetScientific PLCAGM
New Century AIM VCT 2AGM
Norman Broadbent PLCAGM
Reabold Resources PLCAGM
Rockhopper Exploration PLCAGM
Roquefort Therapeutics PLCAGM
Serica Energy PLCAGM
SpaceandPeople PLCAGM
Symphony Environmental Technologies PLCAGM
Synairgen PLCAGM
Thalassa Holdings LtdAGM
tinyBuild IncAGM
Touchstone Exploration IncAGM
Trident Royalties PLCAGM
Unigel Group PLCAGM
Verici Dx PLCAGM
Xpediator PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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30 May 2023 14:31

Rockhopper Exploration revenue falls annually amid lower gas prices

(Alliance News) - Rockhopper Exploration PLC on Tuesday reported a double-digit drop in yearly revenue as gas prices interfered with production.

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23 Mar 2023 20:32

TRADING UPDATES: Fragrant Prosperity to buy Hi 55, Oscillate talks end

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday not separately reported by Alliance News:

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2 Dec 2022 20:39

TRADING UPDATES: Sunrise secures funds; Bango launches e-distribution

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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31 Oct 2022 19:58

TRADING UPDATES: 4Global wins deal; James Cropper profit warning

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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