New Risk • 1h
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$38m Forecast net loss in 3 years: US$5.1m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$5.1m net loss in 3 years). Tillkännagivande • 18h
Rockhopper Exploration plc, Annual General Meeting, Jun 30, 2026 Rockhopper Exploration plc, Annual General Meeting, Jun 30, 2026. Price Target Changed • Apr 19
Price target increased by 11% to UK£1.00 Up from UK£0.90, the current price target is an average from 4 analysts. New target price is 25% above last closing price of UK£0.80. Stock is up 87% over the past year. The company is forecast to post a net loss per share of US$0.0032 compared to earnings per share of US$0.072 last year. Price Target Changed • Jan 21
Price target increased by 7.9% to UK£0.96 Up from UK£0.89, the current price target is an average from 4 analysts. New target price is 30% above last closing price of UK£0.74. Stock is up 105% over the past year. The company is forecast to post a net loss per share of US$0.0032 compared to earnings per share of US$0.072 last year. Tillkännagivande • Jan 21
Rockhopper Exploration plc Announces Board and Committee Changes Rockhopper Exploration plc has announced the appointment of Richard Slape to the Board as a Non-Executive Director, effective January 20, 2026. Richard will join the Remuneration, Nomination and Audit and Risk Committees. Alison Baker, Senior Independent Director, will retire from the Board at the next Annual General Meeting, currently anticipated to be in June 2026, and Richard will at that point take on the role of chair of the Audit and Risk Committee, currently led by Alison. Paul Mayland will assume Alison's position as Senior Independent Director. Richard Slape, aged 60, has extensive board level experience within the energy sector and was also an oil and gas analyst for over 25 years prior to moving into corporate roles within the industry. He has fulfilled a number of senior executive roles including Chief Financial Officer of Kistos Holdings (and its predecessor) from 2021 to 2024. Prior to joining Kistos, he was the Chief Financial Officer of RockRose Energy and he has also served on the board of Lansdowne Oil & Gas. Richard Slape has held the following directorships and/or partnerships in the past five years. Current Directorships/Partnerships: Frensham Road Management Company Limited. Past Directorships/Partnerships (last five years): Kistos plc, Kistos Energy Limited, Kistos Holdings plc, Kistos Energy Storage Limited, Hopton Petroleum Limited. Tillkännagivande • Jan 16
Rockhopper Exploration plc has completed a Follow-on Equity Offering in the amount of £112.039557 million. Rockhopper Exploration plc has completed a Follow-on Equity Offering in the amount of £112.039557 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 162,813,189
Price\Range: £0.53
Security Features: Attached Warrants
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,394,165
Price\Range: £0.53
Security Features: Attached Warrants
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,188,036
Price\Range: £0.53
Transaction Features: Regulation S; Rights Offering; Subsequent Direct Listing New Risk • Jan 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 97% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Price Target Changed • Oct 02
Price target increased by 8.2% to UK£0.89 Up from UK£0.82, the current price target is an average from 4 analysts. New target price is 22% above last closing price of UK£0.73. Stock is up 402% over the past year. The company is forecast to post a net loss per share of US$0.0056 compared to earnings per share of US$0.072 last year. Tillkännagivande • Jul 31
Rockhopper Exploration plc has filed a Follow-on Equity Offering in the amount of £105.049898 million. Rockhopper Exploration plc has filed a Follow-on Equity Offering in the amount of £105.049898 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 162,813,189
Price\Range: £0.53
Security Features: Attached Warrants
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,394,165
Price\Range: £0.53
Security Features: Attached Warrants
Transaction Features: Regulation S; Subsequent Direct Listing Tillkännagivande • May 30
Rockhopper Exploration plc, Annual General Meeting, Jun 27, 2025 Rockhopper Exploration plc, Annual General Meeting, Jun 27, 2025. Price Target Changed • Apr 14
Price target increased by 12% to UK£0.46 Up from UK£0.41, the current price target is an average from 3 analysts. New target price is 15% above last closing price of UK£0.40. Stock is up 196% over the past year. The company is forecast to post earnings per share of US$0.0087 next year compared to a net loss per share of US$0.0077 last year. New Risk • Jan 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings are forecast to decline by an average of 82% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.3% increase in shares outstanding). New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 82% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.6% increase in shares outstanding). Tillkännagivande • Nov 26
Rockhopper Exploration plc Announces Sea Lion Operator's Update Rockhopper Exploration plc notes the recent update published by Navitas Petroleum LP on Sea Lion development progress which includes an updated NFB independent resource report conducted by Netherland Sewell & Associates (NSAI) (the October 2024 NSAI Independent Report) on behalf of Navitas. The EIS for the Northern Development Area, Phase 1 & 2 development (the Northern Development Area) was submitted to the Falkland Islands Government (FIG) for statutory public consultation in July 2024 and in November FIG confirmed that, having received a number of comments, no further public consultation was required. An MOU has been signed for the provision of a redeployed FPSO with a current UK safety case. FEED for the FPSO commenced in November 2024. The hydrocarbons will initially be produced through the redeployed FPSO with a peak production rate of up to 55,000 bbls/d. October 2024 NSAI Independent Report: The new NSAI report, which Rockhopper has not reviewed, categorises the resources into 3 areas, Northern, Central and Southern Development Areas. The Northern Development Area - previously described by Rockhopper as Sea Lion phase one: using a single FPSO with 2 separate drilling campaigns which Navitas refer to as the Northen Area Phase 1 and Phase 2; recovering 319 MMbbls of oil in total (compared to 312 MMbbls in previous reports). The Central Development Area - contains what Rockhopper has previously described as Sea Lion phase two (Zebedee, Casper and other associated fans). The Southern Development Area aiming to develop fans around the Isobel /Elaine discovery. In addition to the previously certified Northern Development Area, Phase 1 & 2 FDP, a further development plan has been certified by NSAI to develop the Central Area. Central Development Area, Phase 1 will comprise 12 wells, increasing gross 2C Development Pending oil resources from 312 MMbbls to 532 MMbbls out of overall 917 MMbbls certified discovered oil resources in the NFB. Navitas has commenced work on the Central Development Area, Phase 1 FDP. Key Information: 2C Contingent Resources (Development Pending) phased development concept for the Sea Lion field: 35 wells; Phased Development; 1st Phase - (Northern Area) 11 wells with approximately 6 drilled and completed prior to first oil; 2nd Phase - 12 wells (Northern Area); 3rd Phase - 12 wells (Central Area); Phase 1 + Phase 2 total barrels developed, 319 MMbbls; Total barrels developed (all 3 phases) 532 MMbbls; Phase 1 + Phase 2 peak production rate 55,000 bbls/day, increasing up to 120,000 bbls/day once all 3 phases have been developed Production breakeven approximately USD 24 per barrel (Phase1, 2 and 3). In addition to the previously certified Northern Development Area, Phase 1 & 2 FDP, a further development plan has been certified by NSAI to develop the Central Area. Central Development Area, Phase 1 will comprise 12 wells, increasing gross 2C Development Pending oil resources from 312 MMbbls to 532 MMbbls out of overall 917 MMbbls certified discovered oil resources in the NFB. Navitas has commenced work on the Central Development Area, Phase 1 FDP. Tillkännagivande • Oct 14
Zodiac Energy Limited (NSEI:ZODIAC) signed a share purchase agreement to acquire Rockhopper Civita Limited from Rockhopper Exploration plc (AIM:RKH). Zodiac Energy Limited (NSEI:ZODIAC) signed a share purchase agreement to acquire Rockhopper Civita Limited from Rockhopper Exploration plc (AIM:RKH) on October 14, 2024.
The transaction is subject to both Italian and Falkland Island Government regulatory approval, the timing of which is uncertain but is anticipated within 12 months.
Henry Fitzgerald-O'Connor and Charlie Hammond of Cannacord Genuity Group acted as financial advisors to Rockhopper Exploration plc. New Risk • Sep 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 742% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 84% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (8.5% increase in shares outstanding). New Risk • Sep 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 84% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 84% per year for the foreseeable future. Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Price Target Changed • Sep 03
Price target increased by 12% to UK£0.34 Up from UK£0.30, the current price target is an average from 2 analysts. New target price is 129% above last closing price of UK£0.15. Stock is up 25% over the past year. The company is forecast to post a net loss per share of US$0.0073 next year compared to a net loss per share of US$0.0077 last year. Tillkännagivande • May 24
Rockhopper Exploration plc, Annual General Meeting, Jun 25, 2024 Rockhopper Exploration plc, Annual General Meeting, Jun 25, 2024. New Risk • Apr 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£78.0m (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 100% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Revenue is less than US$1m (US$129k revenue). Minor Risks Shareholders have been diluted in the past year (9.5% increase in shares outstanding). Market cap is less than US$100m (UK£78.0m market cap, or US$98.7m). Price Target Changed • Jan 15
Price target decreased by 8.2% to UK£0.28 Down from UK£0.30, the current price target is an average from 3 analysts. New target price is 161% above last closing price of UK£0.11. Stock is up 12% over the past year. The company is forecast to post a net loss per share of US$0.0085 compared to earnings per share of US$0.068 last year. New Risk • Oct 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 100% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 100% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Revenue is less than US$1m (US$129k revenue). Minor Risk Market cap is less than US$100m (UK£74.9m market cap, or US$91.8m). Reported Earnings • Oct 01
First half 2023 earnings released: US$0.004 loss per share (vs US$0.002 loss in 1H 2022) First half 2023 results: US$0.004 loss per share (further deteriorated from US$0.002 loss in 1H 2022). Net loss: US$2.61m (loss widened 248% from 1H 2022). Revenue is expected to fall by 120% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 129% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Aug 17
Rockhopper Exploration plc Announces Board Changes Rockhopper Exploration plc announced the appointments, with effect from 1 October 2023, of Simon Thomson as Non-Executive Chair and Paul Mayland as an Independent Non-Executive Director. Simon is a highly experienced oil and gas executive. He served as Chief Executive Officer of Cairn Energy PLC ("Cairn") (subsequently Capricorn Energy PLC) from 2011 to 2023, having joined Cairn in 1995. During his tenure as Chief Executive Officer, Simon participated in and led multiple international corporate transactions, and delivered substantial cash returns to shareholders generated from organic growth opportunities. Simon also has significant experience in the successful leadership of complex international arbitrations and legal disputes, including the successful collection of USD 1.2 billion in association with a dispute with the Government of India. Paul is a Chartered Engineer with over 30 years' experience in the oil and gas industry, including working with BG Group and Vermillion Energy, and most recently with Cairn where he held the role of Chief Operating Officer for over ten years, before leaving in April 2023. Paul has a proven track record in the upstream energy industry, having directly overseen five final investment decisions ("FID") whilst at Cairn alone, including three FPSO projects, one platform and one subsea tieback. As previously notified, Keith Lough, Non-Executive Chair, and John Summers, Non-Executive Director, will step down from their respective positions on the Board, in line with good corporate governance, having served for over nine years. Keith and John will formally leave the Board on 30 September 2023. Tillkännagivande • Jun 06
Rockhopper Exploration plc, Annual General Meeting, Jun 29, 2023 Rockhopper Exploration plc, Annual General Meeting, Jun 29, 2023, at 09:00 Coordinated Universal Time. Location: The Clubhouse, Skew Bridge Wilton Road, Salisbury, Wiltshire SP2 9NY Wiltshire United Kingdom Reported Earnings • May 31
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: US$0.068 (up from US$0.017 loss in FY 2021). Net income: US$35.5m (up US$43.3m from FY 2021). Revenue missed analyst estimates by 39%. Earnings per share (EPS) exceeded analyst estimates. Revenue is expected to fall by 130% p.a. on average during the next 3 years compared to a 2.1% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Senior Independent Director Alison Baker was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 30
First half 2022 earnings released: US$0.002 loss per share (vs US$0.007 loss in 1H 2021) First half 2022 results: US$0.002 loss per share (improved from US$0.007 loss in 1H 2021). Net loss: US$749.0k (loss narrowed 77% from 1H 2021). Revenue is expected to fall by 73% p.a. on average during the next 2 years compared to a 5.9% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 24
Price target increased to UK£0.18 Up from UK£0.15, the current price target is provided by 1 analyst. New target price is 23% above last closing price of UK£0.15. Stock is up 72% over the past year. The company is forecast to post a net loss per share of US$0.023 next year compared to a net loss per share of US$0.017 last year. Price Target Changed • Jun 16
Price target increased to UK£0.17 Up from UK£0.16, the current price target is an average from 3 analysts. New target price is 134% above last closing price of UK£0.072. Stock is down 25% over the past year. The company is forecast to post a net loss per share of US$0.023 next year compared to a net loss per share of US$0.017 last year. Reported Earnings • May 31
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: US$0.017 loss per share (up from US$0.52 loss in FY 2020). Net loss: US$7.76m (loss narrowed 97% from FY 2020). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 69%. Over the next year, revenue is expected to shrink by 16% compared to a 24% growth forecast for the oil industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 28% per year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Senior Independent Director Alison Baker was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Senior Independent Director Alison Baker was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 03
First half 2021 earnings released: US$0.007 loss per share (vs US$0.50 loss in 1H 2020) First half 2021 results: Net loss: US$3.30m (loss narrowed 99% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 26 percentage points per year, which is a significant difference in performance. Price Target Changed • Sep 23
Price target decreased to UK£0.15 Down from UK£0.16, the current price target is an average from 3 analysts. New target price is 136% above last closing price of UK£0.062. Stock is up 23% over the past year. Reported Earnings • Jun 10
Full year 2020 earnings released: US$0.52 loss per share (vs US$0.045 loss in FY 2019) Full year 2020 results: Net loss: US$236.5m (loss widened US$215.9m from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Price Target Changed • Jun 08
Price target decreased to UK£0.16 Down from UK£0.19, the current price target is an average from 3 analysts. New target price is 61% above last closing price of UK£0.10. Stock is down 3.9% over the past year. Reported Earnings • May 21
Full year 2020 earnings released: US$0.52 loss per share (vs US$0.045 loss in FY 2019) Full year 2020 results: Net loss: US$236.5m (loss widened US$215.9m from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Price Target Changed • Jan 08
Price target raised to UK£0.15 Up from UK£0.14, the current price target is an average from 3 analysts. The new target price is 95% above the current share price of UK£0.077. As of last close, the stock is down 61% over the past year. Major Estimate Revision • Dec 02
Analysts update estimates The 2020 consensus revenue estimate was lowered from US$4.42m to US$3.61m. Earning per share (EPS) estimate was unchanged from the last update at -US$0.013. The Oil and Gas industry in the United Kingdom is expected to see a 6.1% decline in net income next year. The consensus price target of UK£0.14 was unchanged from the last update. Share price stayed mostly flat at UK£0.063 over the past week. Major Estimate Revision • Sep 22
Analysts update estimates The 2020 consensus revenue estimate increased from US$2.99m to US$4.29m. Earning per share (EPS) estimate was further reduced from -US$0.011 to -US$0.25 for the same period. The Oil and Gas industry in the United Kingdom is expected to see a 47% decline in net income next year. The consensus price target was lowered from UK£0.21 to UK£0.13. Share price is down by 9.3% to UK£0.052 over the past week. 
