Rockhopper Exploration PLC (AIM:RKH) announced it has reached financial close on the Sea Lion Project in the North Falkland Basin.
It follows the Final Investment Decision taken earlier in December 2025. With this milestone, the company will now complete its previously announced placing and launch an open offer to shareholders.
Phase 1 of the development is led by operator Navitas Petroleum and Development. All key contracts have been finalised, with budgeted costs from FID to completion remaining at $2.1 billion. Rockhopper confirmed it is fully funded for its equity share in the project.
“I am delighted that we have reached Financial Close on the Sea Lion Project, arguably the single most important day in our history since we made the Sea Lion discovery,” said Sam Moody, CEO of Rockhopper Exploration.
“We now look forward to entering the development phase for the field with our partner and operator, Navitas.”