Ashurst is advising Rockhopper Exploration plc ("Rockhopper") on the proposed acquisition of the entire issued and to be issued ordinary share capital of Mediterranean Oil & Gas plc ("MOG"). The initial consideration offer of 6.5 pence per share, which is to be satisfied partly in cash and partly in Rockhopper shares values MOG at approximately £29.3 million. In addition, under the terms of the acquisition MOG Shareholders will receive a contingent entitlement up to a maximum of 3.55 pence for each MOG share depending on the success of an exploration well targeting the Hagar Qim prospect offshore Malta. The maximum amount payable by Rockhopper pursuant to the contingent consideration offer is £16 million. The acquisition is proposed to be effected by means of a Court sanctioned scheme of arrangement.

The Ashurst team was led by corporate partner Michael Robins, assisted by senior associates Alex Verzariu and Julia Derrick, and by counsel Sara Watson and Stephen Diosi.