MOG acquisition - no further consideration payable

RNS Number : 0732S

Rockhopper Exploration plc

19 September 2014

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY RESTRICTED JURISDICTION OR WHERE IT WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF ANY SUCH JURISDICTION

RECOMMENDED CASH, SHARE AND CONTINGENT CONSIDERATION OFFER BY ROCKHOPPER EXPLORATION PLC ("ROCKHOPPER") FOR
MEDITERRANEAN OIL & GAS PLC ("MOG")

confirmation no contingent consideration is payable

Further to the announcement made by Rockhopper on 9 July 2014, Rockhopper appointed ERC Equipoise Limited to produce a Competent Person's Report to determine the 2C Contingent Resources estimated to be potentially recoverable from the HQ Prospect.  ERC Equipoise Limited has provided its report to Rockhopper which confirms that no Liquid Hydrocarbons have been encountered in the HQ Prospect. Therefore, the Agreed Resources are nil and no Contingent Consideration is payable.

Terms defined in the scheme document dated 20 June 2014 have the same meanings where used in this announcement.

Enquiries

Rockhopper Exploration plc

Tel: [phone]

Sam Moody - Chief Executive (via Vigo Communications)

Stewart MacDonald - Chief Financial Officer

Canaccord Genuity Limited (NOMAD and Joint Broker)

Tel: [phone]

Henry Fitzgerald-O'Connor

Vigo Communications

Tel: [phone]

Peter Reilly

 

END

 

 

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