Business
Half-year Report
Rockhopper Exploration plc announced its half-year results for the six months ended June 30, 2025, reporting a loss after tax of US$51.0 million compared to a profit of US$69.5 million in H1 2024. The company completed a firm placing of US$115 million at 53p per share and a conditional placing of US$25 million at 53p per share, plus an open offer for up to €8 million at 53p per share. These funds are held in escrow pending a Final Investment Decision for the Sea Lion Phase 1 development. The Ombrina Mare Award was fully annulled, but insurance monies of €31 million were received. Cash and term deposits stood at US$21.7 million as of June 30, 2025, while unaudited cash resources were US$54 million as of August 31, 2025. Disclaimer*
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n\n29 September 2025\n \nRockhopper Exploration plc\n(\"Rockhopper\", the \"Group\" or the \"Company\")\n \nHalf-Year Results for the Six Months Ended 30 June 2025\n \nRockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin (\"NFB\"), announces its unaudited results for the six months ended 30 June 2025 (\"H1 2025\").\n \nYEAR TO DATE HIGHLIGHTS\n \nCapital Raise\n· Firm and Conditional two tranche placing to raise up to US$140 million\n· Company to undertake Open Offer for up to an additional €8 million\n \nFirm placing US$115 million\n· 53p per share plus one underwriting warrant for every four shares, at a price of 80p per share\n· Expected to fund Rockhopper capex requirements for Phase 1 development plan for Sea Lion\n· Funds held in escrow pending Final Investment Decision (\"FID\") for Sea Lion Phase 1 development\n \nConditional placing US$25 million\n· 53p per share plus one underwriting warrant for every four shares, a price of 80p per share\n· Approved by shareholders at a General Meeting on 16 September 2025\n· Provides additional funding flexibility for subsequent phase planning, first phase contingencies and early project decommissioning\n· Funds held in escrow pending occurrence of FID\n \nOpen Offer up to €8 million\n· To be held at FID, 53p per share\n· Provides shareholders the opportunity to participate at the same price as those in the placings\n· No underwriting warrants as investors will not be required to subscribe funds to the escrow account\n· Capped at €8 million under the Prospectus Regulations\n \nIndependent Resource Evaluation\n· Carried out by Netherland Sewell and Associates (\"NSAI\")\n· Sea Lion oil only numbers\n· Unrisked gross contingent resources 2C 917 mmbbls\no 321 mmbbls net to Rockhopper\n· Unrisked gross contingent resources development pending 2C 727 mmbbls\no 255 mmbbls net to Rockhopper\n· Valuation of the Rockhopper net 2C 255mmbbls 35% working interest i...