Rockhopper Exploration Plc

Canaccord Genuity’s Corporate Broking team is pleased to announce it has acted as Nomad and Joint Bookrunner to Rockhopper Exploration Plc (“Rockhopper”) in June 2022 raised $10.4 million by way of Accelerated Book Build and Open Offer on AIM.

Rockhopper is an oil and gas exploration and production company with key interests in the North Falkland Basin.

Rockhopper raised funds through a Placing via an Accelerated Book Build and a subsequent Open Offer. The Placing was oversubscribed and upsized to $7 million. The Open Offer was extended to retail investors and had a take-up of over 69%, raising a further $3.4 million. The transaction also involved the issue of one warrant for every two shares subscribed for, providing Rockhopper with the possibility of further capital in the next 18 months.Rockhopper intends to use the proceeds of the fundraise to support it through the next 18+ months which should see; the completion of the transaction with Navitas Petroleum, a licence extension in the North Falkland Basin, and it obtaining the outcome of its Ombrina Mare arbitration.

Rockhopper is listed on the AIM market under the ticker RKH.

The team was led by Henry Fitzgerald-O’Connor and supported by Gerel Bastin, and Gordon Hamilton. ECM execution was undertaken by Sam Lucas and Darren Furby. The UK sales teams for both deals principally constituted Ben Knott, James Cooke and Joel Bayley. Research is covered by Charlie Sharp on both companies. Support on the Canadian element of the Southern transaction was led by Anthony Petrucci out of Calgary.