Rockhopper Exploration Share Discussion Threads

[gozzie2] 27/1/2024 15:37

Benefits of the agreement·    Materially strengthens Rockhopper's balance sheet with no dilution to shareholders·    De-risks the Award process while maintaining potentially significant upside·    Removes future costs associated with the Award·    Accelerates monetisation when compared to Rockhopper challenging the annulment itself and seeking to         enforce against the Republic of Italy, which could take several years·    Allows Rockhopper to focus on its core opportunity in the Falkland IslandsProceeds from the monetisation will be used by Rockhopper for both working capital, general corporate purposes and towards Rockhopper's equity funding requirements in relation to developing the Sea Lion oil field

[gozzie2] 27/1/2024 15:34

Onto Cheltenham?7 WINNERSYèeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaàaaa Monetisation of Arbitration Award20 December 202320 December 2023Rockhopper Exploration plc("Rockhopper" or the "Company")Monetisation of Ombrina Mare Arbitration AwardRockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin, announces its entry into a funded participation agreement (the "Agreement") with regulated specialist fund with over $4bn in investments under management that has experience in investing in legal assets (the "Specialist Fund") to monetise its ICSID Award (the "Award"), in relation to the arbitration against the Republic of Italy relating to the Ombrina Mare oil field (the "Arbitration"). The Award was previously announced on 24 August 2022.Key terms of the Agreement·    Rockhopper to retain legal and beneficial ownership of the Award·    Under the terms of the Agreement, the Specialist Fund will make cash payments to Rockhopper in up to three tranches:>Tranche 1 – Rockhopper will retain approximately €15 million of an upfront payment of €45million on completion. As previously disclosed, Rockhopper entered into a litigation funding agreement in 2017 under which all costs relating to the Arbitration from commencement to the rendering of the Award were paid on its behalf by a separate specialist arbitration funder (the "Original Arbitration Funder"). That agreement entitles the Original Arbitration Funder to a proportion of any proceeds from the Award or any monetisation of the Award. Rockhopper has entered into an agreement with the Original Arbitration Funder to pay €26 million of the Tranche 1 proceeds to discharge all of its liabilities under the agreement with the Original Arbitration Funder. In addition, Rockhopper is due to pay certain success fees to its legal representatives. After making these payments, Rockhopper will retain approximately €15million of the Tranche 1 payment and 100 per cent of all Tranche 2 and 3 payments.>Tranche 2 – Additional contingent payment of €65 million upon a successful annulment outcome. Should the Award be partially annulled and the quantum reduced as a result, then Tranche 2 will be reduced such that the amounts under Tranche 1 and Tranche 2 shall be adjusted downward on a pro-rata basis. For example, if the quantum of the Award is reduced by 20%, then the amounts under Tranche 1 and Tranche 2 shall be reduced by 20%. For the avoidance of doubt, the amounts under Tranche 1 and Tranche 2 shall not reduce below €45m in any circumstance.>Tranche 3 – Potential payment of 20% on recovery of amounts in excess of 200% of the Specialist Fund's total investment including costs

[gozzei2] 27/1/2024 13:50

I'm in it upto me freaking neck after Dad done all the family coin in Rocky.
Then me sen bunged a shed load more. 88p can't come soon enough. Patience I know

[gozzie2] 26/1/2024 22:17

If I get the call up papers, I now identify as invisible?I was born visible?Now I'm a trans parant ?

[gozzie2] 26/1/2024 17:19

Now I'm CHOOSING to go home after a gallon of ale and then to watch the great Man City?Hope you drop de@d this weekend you piece of sh1te ?FACT

[gozzie2] 26/1/2024 16:26

Stewart MacDonald, Rockhopper's CFO, commented: "I have very much enjoyed my near eight years as Rockhopper's CFO but have decided that the time is right for me to take on a new role. I will leave the company with the Sea Lion project entering a new chapter with the proposed farm-out to Navitas. Navitas brings significant, proven capital raising expertise and, through the proposed farm-in, they will take primary responsibility for financing the Sea Lion project going forward."