Business
Update on Contingent Consideration Offer
Update on Contingent Consideration Offer.
About this update from Rockhopper Exploration Plc
[{"type":"text","content":"\n \nRNS Number : 7791L Rockhopper Exploration plc 09 July 2014 \n\nNOT 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\n \nRECOMMENDED CASH, SHARE AND CONTINGENT CONSIDERATION OFFER BY ROCKHOPPER EXPLORATION PLC (\"ROCKHOPPER\") FOR MEDITERRANEAN OIL & GAS PLC (\"MOG\")\nUPDATE ON CONTINGENT CONSIDERATION OFFER\nIn 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.\nAs 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.\nAs 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.\nDefined terms in the Scheme Document dated 20 June 2014 have the same meanings where used in this announcement.\nEnquiries\n\n\n\n\nRockhopper Exploration plc\n\n\nvia Vigo Communications - 020 7016 9571\n\n\n\n\nSam Moody, Chief Executive\n\n\n \n\n\n\n\nStewart MacDonald, Chief Financial Officer\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nCanaccord Genuity Limited, NOMAD, broker and financial adviser to Rockhopper\n\n\n020 7523 8000\n\n\n\n\nHenry Fitzgerald-O'Connor\n\n\n \n\n\n\n\nNeil Elliot\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nVigo Communications, PR adviser to Rockhopper\n\n\n020 7016 9571\n\n\n\n\nPeter Reilly\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nMediterranean Oil & Gas plc\n\n\n020 7959 2322\n\n\n\n\nBill Higgs, Chief Executive\n\n\n \n\n\n\n\nChris K...