Sam Moody, CEO of Rockhopper, commented: The submission of the PIM marks a material milestone in the project financing process for the Sea Lion development.
Should the application be well received, we anticipate moving into a phase of detailed lender due diligence and documentation during Q4 2019.
Sea Lion funding update
Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to announce that the Preliminary Information Memorandum (“PIM”), which will form the basis of a loan application for the Sea Lion senior debt project financing, has been submitted to potential senior lenders.
The PIM submission is supported by a comprehensive set of independent expert reports covering the full range of technical, reservoir, HSSE, legal and tax aspects of the Sea Lion project.
As part of the PIM submission process, lender due diligence advisers, including financial and legal advisers have been appointed.
