Share Name Share Symbol Market Type Share ISIN Share Description
Rockrose Energy LSE:RRE London Ordinary Share GB00BYNFCH09 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +4.00p +1.15% 352.00p 346.00p 350.00p 352.00p 352.00p 352.00p 1,124 09:11:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 5.5 54.8 -37.8 - 54.04

RockRose Energy plc Acquisition of Dyas BV

24/05/2018 7:01am

UK Regulatory (RNS & others)

Rockrose Energy (LSE:RRE)
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RNS Number : 1068P

RockRose Energy plc

24 May 2018

24 May 2018

RockRose Energy plc ("RockRose", the "Group" or the "Company")

Acquisition of Dyas BV for EUR EUR107m : Non-operated gas production in the Netherlands

RockRose Energy plc is pleased to announce that it has signed a Sale and Purchase Agreement to acquire the entire issued and to be issued share capital of Dyas B.V. (the "Acquisition"), which owns the non-operated, Netherlands gas and condensate producing assets of the Dyas group of companies, for a total consideration of EUR EUR107 million. The Dyas group of companies is wholly owned by SHV Holdings N.V., a family-owned Dutch multinational.

The Acquisition, which has an effective date of 1st January 2018, will be funded from existing cash resources with no debt or equity issuance or shareholder approval required. There will be a significant working capital adjustment at completion.

The Acquisition adds a further 13 MMboe net developed reserves (with material undeveloped and prospective resource upside) and over 5,000 boepd of production to the Group. Post completion RockRose estimates combined Group 1P reserves of approximately 23 MMboe and 2018 pro-forma production in excess of 10,000 boepd. The Group's production will be circa 60% gas and 40% oil.

Both the existing asset base and those assets to be acquired have incremental opportunities which the Board believe could add significantly to the Group's reserve base and maintain current production for at least the next five years, with Rockrose's portion of the associated capex to be funded from the Group's operating cash flow.

Andrew Austin, Executive Chairman of RockRose Energy said:

"On completion this acquisition grows our North Sea business to a level of production that is over 10,000 boepd and in addition to providing significant free cash flow diversifies the portfolio and strengthens the Company's position. Management sees significant upside in the combined portfolio and is confident RockRose can organically maintain or grow profitable production from these levels without necessitating additional funding."

Robert Baurdoux, CEO of Dyas, said:

"After a presence of over 50 years in the Netherlands, the divestment of our Dutch entities is part of a strategic refocussing of our business. RockRose Energy is well placed to take-on the stewardship of the Dutch assets, allowing Dyas to pursue new investment opportunities in the UK, Norway, Denmark and Malaysia."

GMP FirstEnergy acted as exclusive financial advisor to Dyas.

Competent person: Technical information in this announcement has been reviewed by Dr Richard Benmore, B.Sc, M. Sc, Ph.D, who is a Director of the Company. Richard has 35 years of experience in the Oil and Gas industry with Conoco, Oryx Energy, Nimir Petroleum, EnCana, Nexen Petroleum and IGas Energy.



   Rockrose Energy plc                                               +44 (0)20 3826 4800 


Hannam & Partners (Advisory) LLP

   Giles Fitzpatrick / Andrew Chubb                               +44 (0)20 7907 8500 

Financial PR:


   Billy Clegg                                                                   +44 (0)20 3757 4980 

Owen Roberts

Ollie Head

For further information, please visit the Company's website at


The assets being acquired include

Oil Netherlands        P15 Rijnfield                       TAQA                   45.7 
      F2-Hanze                                    Dana                            20.0 
 --------------------  --------------------------------------------  ------------------ 
      A/B Blocks                                Petrogas                          14.6 
      K4 & K5 Blocks                              Total                           11.7 
      F15A, B                                     Total                           8.8 
      J3C                                         Total                           1.7 
      P6 AB Field                              Wintershall                        15.0 
      P6-D                                     Wintershall                        30.6 
Offshore Gas 
 Netherlands           P9-A+B Unit                     Wintershall                11.6 
      Q1-B Unit                                Wintershall                        2.6 
      Q4                                       Wintershall                        10.4 
      Q4B Unit                                 Wintershall                        10.3 
      F2 Pliocene                                 Dana                            12.0 
      Markham Unit                              Centrica                          4.4 
      P15/P18                                     TAQA                           4 to 9 
      K18b                                     Wintershall                        10.0 
      Lambda                                   Wintershall                        10.5 
 --------------------  --------------------------------------------  ------------------ 
      Bergen                                      TAQA                            12.0 
Onshore Gas 
 Netherlands           Groet Oost                          TAQA                   20.0 
      Alkmaar PGI                                 TAQA                            12.0 
 --------------------  --------------------------------------------  ------------------ 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit



(END) Dow Jones Newswires

May 24, 2018 02:01 ET (06:01 GMT)

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