Rockrose Energy has completed two further North Sea deals as it seeks to build a production base on the UK continental shelf. It is getting stakes in two gas fields by buying Egerton Energy Ventures, a private company, as well as further gas-producing licences through a deal with Sojitz Energy Project, owned by Japan’s Sojitz Corporation. Rockrose joined the London stock market in January last year, placing shares at 50p each and raising £4.4 million to pursue energy acquisitions. It is one of several independents making deals in the North Sea as they feel there is still value to be had in smaller and older fields that are less attractive to big oil companies. Both deals have been in the pipeline for several months.

Source: The Times December 23, 2017 00:02 UTC