2 Oct 2018 07:01
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
RockRose Energy plc
("RockRose", the "Group" or the "Company")
Completion of Dyas Acquisition
RockRose Energy Plc is pleased to announce the completion of the acquisition of Dyas B.V., a wholly owned subsidiary of SHV Holdings N.V.
The effective date of the Dyas acquisition was 1st January 2018. On this basis pro-forma production for the year to date for the group was circa 11,000 boepd, split equally between oil and gas.
RockRose has cash at bank at completion of $ 111 million of which $ 52.5 million is restricted. The working capital adjustment attributable to the acquisition of Dyas B.V was EUR 77.3 million.
Andrew Austin, Executive Chairman of RockRose Energy said:
"The completion of this acquisition is a major milestone for RockRose as we build a North Sea focused business of size and scale.
The Company continues to review potential acquisitions while maximising opportunities within our existing asset base."
End
The person who arranged for the release of this announcement on behalf of the Company was Andrew Austin, Executive Chairman.
Enquiries:
Rockrose Energy plc +44 (0)20 3826 4800
Financial Adviser and Joint Broker:Hannam & Partners (Advisory) LLP
Giles Fitzpatrick / Andrew Chubb +44 (0)20 7907 8500
Joint Broker:
Cantor Fitzgerald
Nick Tulloch / Gregor Paterson +44 (0)131 257 4634
Financial PR:
Celicourt
Mark Antelme / Henry Lerwill +44 (0)20 7520 9261
For further information, please visit the Company's website at www.rockroseenergy.com.