Rockhopper Exploration plc. (AIM:RKH) signed an agreement to acquire Falkland Oil and Gas Ltd. (AIM:FOGL) from Rab Special Situations (Master) Fund Limited, a fund of RAB Capital Holdings Ltd, Phipps & Company Limited and others for £57.1 million in stock on November 24, 2015. Rockhopper Exploration will issue 0.2993 Rockhopper shares for each share of Falkland Oil. Upon completion, current shareholders of Rockhopper will own approximately 65% and Falkland Oil Shareholders will own approximately 35% of the combined group's issued share capital. Existing management team of Rockhopper will remain the same and Tim Bushell (Chief Executive Officer of Falkland Oil) and John Martin (Chairman of Falkland Oil) will join the board of Rockhopper as Non-Executive Directors. Colin More will be retained as an advisor to the Combined Group. The transaction is subject to approval from shareholders of Rockhopper and Falkland Oil, approval from regulatory body, court approval and Rockhopper consideration shares being admitted to trading on AIM. Rockhopper Board considers the Resolution to be in the best interests and the Rockhopper shareholders as a whole and accordingly unanimously recommends that Rockhopper shareholders vote in favour of the Resolution. The General Meeting will be held on December 14, 2015, to discuss and approve the transaction. The transaction needs approval from Board of Rockhopper and Falkland.

On December 11, 2015, Falkland Oil posted a scheme document to its shareholders. It was announced that the court meeting and the general meeting will be held on January 5, 2016 and it is anticipated that the scheme court hearing will be held on or around January 15, 2016 and that the scheme will become effective on or around January 18, 2016. The general meeting of Rockhopper will be held on December 14, 2015 and long stop date by which the scheme can be effective is March 31, 2016. As of December 14, 2015, the deal was approved by the shareholders of Rockhopper. As of January 5, 2016, the deal was approved by the shareholders of Falkland Oil at the Court meeting and General Meeting. The Court Hearing to sanction the scheme will be held on January 15, 2016. The Court sanctioned the scheme on January 15, 2016.

Henry Fitzgerald-O'Connor, Manuel Santiago and Wei Loon Yap of Canaccord Genuity Limited acted as financial advisor, Clayton Bush and Neil Elliot of Liberum Capital Limited acted as broker and Peter Reilly and Patrick d'Ancona of Vigo Communications acted as PR advisor to Rockhopper. Matthew Coakes, Andrew Congleton, Mark Rushton and Roland Symonds of RBC Europe Limited acted as financial advisor, John Prior, Ben Stoop and Paul Gillam of Numis Securities Limited acted as broker and Ed Westropp and George Parker of FTI Consulting acted as PR advisor to Falkland Oil and Gas Ltd. Michael Robins, Alex Verzariu of Ashurst acted as legal advisors for Rockhopper.

Rockhopper Exploration plc. (AIM:RKH) completed the acquisition of Falkland Oil and Gas Ltd. (AIM:FOGL) from Rab Special Situations (Master) Fund Limited, a fund of RAB Capital Holdings Ltd, Phipps & Company Limited and others on January 18, 2016.