Rockhopper Exploration plc Update on Contingent Consideration Offer (7791L)
09 Luglio 2014 - 8:00AM
UK Regulatory
TIDMRKH TIDMMOG
RNS Number : 7791L
Rockhopper Exploration plc
09 July 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN OR INTO OR FROM ANY RESTRICTED JURISDICTION OR WHERE IT
WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF ANY SUCH
JURISDICTION
RECOMMENDED CASH, SHARE AND CONTINGENT CONSIDERATION OFFER BY
ROCKHOPPER EXPLORATION PLC ("ROCKHOPPER") FOR MEDITERRANEAN OIL
& GAS PLC ("MOG")
UPDATE ON CONTINGENT CONSIDERATION OFFER
In relation to the terms of the proposed recommended acquisition
by Rockhopper of the entire issued and to be issued share capital
of MOG, MOG has informed Rockhopper that the rig used to drill the
exploration well targeting the Hagar Qim prospect in Offshore Malta
Area 4, Block 7 (MOG 25% working interest) completed operations on
7 July 2014 (the HQ Exploration Well Completion Date) and has now
moved off location.
As announced by MOG on 3 July 2014, MOG has received formal
notification from Phoenicia Energy Company Ltd (a wholly owned
subsidiary of Genel Energy plc), the operator of Offshore Malta
Area 4, Block 7 that the Hagar Qim-1 well has been drilled to the
Eocene and plugged and abandoned with no indications of
hydrocarbons.
As required by the terms of the acquisition, within one month of
the HQ Exploration Well Completion Date, ERC Equipoise Limited will
be instructed to produce a Competent Person's Report to validate
the results of the well in line with Part IV - The Contingent
Consideration Offer of the Scheme Document dated 20 June 2014.
Defined terms in the Scheme Document dated 20 June 2014 have the
same meanings where used in this announcement.
Enquiries
Rockhopper Exploration plc via Vigo Communications
- 020 7016 9571
Sam Moody, Chief Executive
Stewart MacDonald, Chief Financial
Officer
Canaccord Genuity Limited, NOMAD,
broker and financial adviser to
Rockhopper 020 7523 8000
Henry Fitzgerald-O'Connor
Neil Elliot
Vigo Communications, PR adviser
to Rockhopper 020 7016 9571
Peter Reilly
Mediterranean Oil & Gas plc 020 7959 2322
Bill Higgs, Chief Executive
Chris Kelsall, Finance Director
RBC Europe Limited, Rule 3 adviser
and joint broker to MOG 020 7653 4000
Jeremy Low
Matthew Coakes
Liberum Capital Limited, NOMAD,
financial adviser and joint broker
to MOG 020 3100 2222
Clayton Bush
Tim Graham
FTI Consulting, PR adviser to
MOG 020 3727 1000
Ben Brewerton
Alex Beagley
This information is provided by RNS
The company news service from the London Stock Exchange
END
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