Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin, is pleased to announce that, following discussions between the joint venture partners, Harbour Energy and the Falkland Islands Government (“FIG”), FIG has agreed to extend each of the Company’s North Falkland Basin Petroleum Licences, including the Sea Lion Discovery Area, until 1 November 2022, with no additional licence commitments. The Licences were previously due to expire on 1 May 2021.

Samuel Moody, Chief Executive Officer, commented:

“The Company is grateful to the Falkland Islands Government for the extension of its North Falkland Basin licence interests and continued support of the Sea Lion project.

The proposed merger of Premier Oil and Chrysaor to create Harbour Energy brings a financially stronger operator to the project. This, combined with the proposed entry of Navitas Petroleum to Sea Lion, creates a solid operational and financial foundation giving the project the strongest possible chance of progressing.”

Notes
The Company’s working interests in North Falkland Basin Petroleum Licences are as follows:

Licence

Operator

Rockhopper WI

PL032 inc. Sea Lion Discovery Area

Premier Oil

40%*

PL033

Premier Oil

40%

PL003a

Rockhopper

95.5%

PL003b

Rockhopper

60.5%

PL004a

Premier Oil

64%**

PL004b

Premier Oil

64%*

PL004c

Premier Oil

64%*

PL005

Rockhopper

100%

* Reducing to 30% upon completion of the proposed farm-out to Navitas Petroleum LP

** Reducing to 30% upon exercise of option to be held by Navitas Petroleum LP under proposed farm-out

Enquiries:

Rockhopper Exploration plc
Sam Moody – Chief Executive Officer
Stewart MacDonald – Chief Financial Officer
Tel. +44 (0) 20 7390 0234 (via Vigo Communications)

Canaccord Genuity Limited (NOMAD and Joint Broker)
Henry Fitzgerald-O’Connor/James Asensio
Tel. +44 (0) 20 7523 8000

Peel Hunt LLP (Joint Broker)
Richard Crichton
Tel. +44 (0) 20 7418 8900

Vigo Communications
Patrick d’Ancona/Ben Simons
Tel. +44 (0) 20 7390 0234

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).