Business
Interim Results
Interim Results.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n Rockhopper Exploration plc\n06 December 2005\n\n\nPRESS RELEASE\n\nFor immediate release: 6 December 2005\n\nRockhopper Exploration plc\n\nInterim results\n\nHighlights:\n\n •Successful placing and listing on AIM, raising £15m before expenses\n •Award of two further licences in the North Falkland Basin, making\n Rockhopper the largest acreage holder in the North Falkland Basin\n •2D seismic survey commissioned on our 100% owned acreage\n •Agreement signed with Desire Petroleum to farm-in to 7.5% of two licences\n adjacent to Rockhopper owned acreage\n •Management team strengthened\n\nCommenting on the results, Chairman Pierre Jungels said: 'Our strategy in the\nFalklands is to mature a number of high quality drillable prospects on our 100%\nheld acreage and to be ready for a substantial drilling campaign once the\navailability and cost of drilling units are more favourable'.\n\nManaging Director, Sam Moody said 'The steps we have taken over the last six\nmonths have laid the groundwork for the long-term future of the company'.\n\nContacts:\nRockhopper Exploration plc\nSam Moody, Managing Director 01722 414 419\nPeter Dixon-Clarke, Finance Director\n\nAquila Financial Limited - [email protected]\nPeter Reilly 020 7849 3319\nYvonne Fraser 020 7849 3320\n\nwww.rockhopperexploration.co.uk\n\nNotes to editors\nThe Rockhopper Group started trading in February 2004 to invest in and carry out\nan offshore oil exploration programme to the north of the Falkland Islands. The\nGroup, which floated on AIM in August 2005, is currently the largest licence\nholder in the North Falkland Basin and owns a 100 per cent. interest in four\noffshore production licences which cover approximately 5,800 sq. km. These\nlicences have been granted by the Falkland Islands government.\n\nIn total, the Board and its Consultant, the Falklands expert David Bodecott,\nhave over 120 years experience in the oil industry, with specific expertise in\nthe field of exploration and in the region itself.\n\n\n\nChairman's report\n\nThis interim report for the six months ended 30 September 2005, is the first\nreport following our successful placing and listing on AIM on 15th August 2005.\nAs expected the Group incurred a loss for the period.\n\nThe net proceeds of the placing of £13.9 million are on interest bearing\ndeposits along with fundin...