LONDON, July 17, 2015 /PRNewswire/ --
Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Rockhopper Exploration
Highlights of the analysis on Rockhopper Exploration by Edison's oil & gas analysts Will Forbes and Ian McLelland are as follows:
Rockhopper (RKH) is a London-listed E&P with fully-funded development of Sea Lion, a 400mmbbl field in the Falklands. It also holds production, development and exploration assets in the Mediterranean.
The 2012 farm-out to PMO secured RKH's financial position and put it in a rare group of fully-funded developers. Our core NAV (144p) is well above the share price, while RENAV including the Isobel Deep complex, its two upcoming Falkland wells (Chatham and Jayne East) and Faseto in Italy increases further. Of these, we are most interested in the results of any future Isobel drilling (timing yet to be firmed up) that could de-risk a complex, which is potentially as large as Sea Lion, and unlock further value. Our analysis indicates core NAV growth of around 20%, promising strong returns for investors.
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For more information please contact:
Will Forbes Edison Investment Research +44(0)20-3077-5749
Ian McLelland Edison Investment Research +44(0)20-3077-5756
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SOURCE Edison Investment Research