Last checked at 5 Jan 2015 07:00
5 January 2015
Rockhopper Exploration plc
("Rockhopper" or the "Company")
Croatian Licence Award
Further to the Company's Mediterranean Operational Update announcement of 12 December 2014, Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to announce that it has been awarded a 40% interest in offshore Block 9 in Croatia in partnership with Eni (60% interest and operator).
The block is located in the relatively shallow water of the prolific Northern Adriatic gas province and contains the previously discovered Ksenija accumulation along with the Klaudija prospect.
The anticipated work programme consists of seismic acquisition, processing and re-processing during the first exploration phase (3 years) with the drilling of a well in the second exploration phase (if Rockhopper elects to proceed to the second phase).
Signature of a Production Sharing Contract with the Croatian Hydrocarbon Authority must be completed by 2 April 2015.
In addition, and as previously announced, Rockhopper has also applied for acreage in the first offshore licencing round in Montenegro. The outcome of such application is expected in Q1 2015.
Sam Moody, Chief Executive of Rockhopper, commented:
"We are delighted to be partnering with the leading international producer in Croatia as we build our position in our second core area of the greater Mediterranean region following the acquisition of MOG. This represents an outstanding low cost opportunity to increase our acreage position in an area with proven hydrocarbons."
For further information, please contact:
Rockhopper Exploration plc
Tel: (via Vigo Communications) - 020 7016 9571
Sam Moody - Chief Executive
Fiona MacAulay - Chief Operating Officer
Stewart MacDonald - Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Joint Broker)
Tel: 020 7523 8000
Henry Fitzgerald-O'Connor
Liberum Capital (Joint Broker)
Tel: 020 3100 2227
Clayton Bush
Vigo Communications
Tel: 020 7016 9571
Peter Reilly
Patrick d'Ancona
Notes to Editors
ENI presence in Croatia
Eni has been active in Croatia since the 1980s. At present, through its fully owned subsidiary Eni Croatia B.V., jointly operates with INA-Industrija nafte (known as INA) two Exploration and Production licences located in the Adriatic Offshore, where it holds a 50% Participating Interest. Eni is the leading international producer in the country, with daily equity production (2014) of around 1.1 million cubic meters of gas.