Rockhopper seals £203m fundraising to step up south Atlantic drill activity

first_imgTuesday 19 October 2010 7:38 pm KCS-content FALKLAND Islands-focused oil group Rockhopper completed a £206.3m fundraising yesterday in an effort to ramp up its drilling campaign in the south Atlantic region.Rockhopper, listed on the Alternative Investment Market (Aim), said the funds – raised through placing a total of 65,500,000 new shares at a price of 315p each – will help it to realise its goal of becoming the first oil producer in the region, after striking black gold at its Sea Lion oil resource in the Falkland Islands earlier this year.The new shares represent around 34 per cent of Rockhopper’s ordinary shares currently in issue.The fundraising was headed up by Bank of America Merrill Lynch’s oil and gas expert Andrew Osborne. Also acting on the advisory team was Canaccord.Rockhopper shares closed down 12p at 324p, though they have almost quadrupled their value this year after the original Falklands discovery.However, the stock fell sharply only last week, as investors were spooked by the company revising down its reserve estimates for Sea Lion. Share whatsapp Tags: NULLcenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropUndoBetterBe20 Stunning Female AthletesBetterBeUndoTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco RelishUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoBrilliant TravelerHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeBrilliant TravelerUndo More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Show Comments ▼ whatsapp Rockhopper seals £203m fundraising to step up south Atlantic drill activity last_img

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