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Rockhopper Exploration ( (GB:RKH) ) has provided an announcement.
Rockhopper Exploration has reached financial close on the Sea Lion Project following its recent final investment decision, confirming that all key contracts for Phase 1 have been signed by operator Navitas and that the overall budget from FID to completion remains at US$2.1 billion. With this milestone, the company will complete a US$142 million placing of new shares, leaving it fully funded for its equity share of Phase 1, while also launching an open offer of up to £7 million to allow existing shareholders who did not participate in the placing to buy additional shares at the same issue price, thereby broadening participation in the project’s next development phase.
The most recent analyst rating on (GB:RKH) stock is a Buy with a £90.00 price target. To see the full list of analyst forecasts on Rockhopper Exploration stock, see the GB:RKH Stock Forecast page.
More about Rockhopper Exploration
Rockhopper Exploration is an AIM-listed oil and gas company focused on exploration and development in the North Falkland Basin, where it holds key interests including the Sea Lion oil field. The company’s core activity is advancing offshore hydrocarbon projects in partnership with operators such as Navitas Petroleum and Development Limited, with an emphasis on bringing the Sea Lion discovery into production.
Average Trading Volume: 3,155,763
Technical Sentiment Signal: Buy
Current Market Cap: £456.2M
For a thorough assessment of RKH stock, go to TipRanks’ Stock Analysis page.