Rockhopper Exploration Plc · LSE:RKH
Rockhopper Exploration — Corporate Update (January 2024)
8 slides from Rockhopper Exploration's corporate update, January 2024
Slide 1: Rockhopper Corporate Update January 2024
Rockhopper Corporate Update January 2024
Slide 2: Important Notice
Important Notice This Presentation does not constitute an offer or invitation or a solicitation of any offer or invitation for the sale or purchase of any securities in the Company. In addition, it is not intended to form the basis of or act as an inducement to enter into any contract or investment
Slide 3: Sea Lion Development Update
Sea Lion Development Update New lower cost development plan at Sea Lion Navitas Petroleum lp, Operator (“Navitas”) have provided details of the updated Field Development Plan (“FDP”) and additional independent resource report by Netherland Sewell & Associates (“NSAI”).* Optimised for the specificati
Slide 4: Sea Lion Development Update
Sea Lion Development Update EIA pre consultation started in Nov 2023 Updated EIA anticipated to be submitted to FIG in Q1 2024 Updated FDP submitted to FIG Navitas actively working with leading industry vendors to secure all long lead equipment Navitas continues to target Final Investment Decision l
Slide 5: Ombrina Mare Arbitration Monetisation Key Commercial Terms
Ombrina Mare Arbitration Monetisation Key Commercial Terms Rockhopper is monetising its Ombrina Mare Arbitration by means of a new funded participation agreement, consideration is in 3 tranches Tranche Payment Condition & Timing Gross Amount Retained by RKH Tranche 1 Upfront payment on completion €4
Slide 6: Benefits of the Ombrina monetisation transaction
Benefits of the Ombrina monetisation transaction Materially strengthens Rockhopper’s balance sheet with no dilution De-risks the arbitration annulment process and maintains significant upside exposure Removes future costs associated with the Arbitration Materially accelerates monetisation when compa
Slide 7: Ombrina Mare Arbitration Background
Ombrina Mare Arbitration Background Rockhopper acquired Mediterranean Oil and Gas (“MOG”) PLC in 2014 At that time, the Ombrina Mare oil field (key element of the MOG portfolio) was capable of being developed under Italian legislation Rockhopper and its subsidiaries had obtained all required environ
Slide 8: Corporate Developments
Corporate Developments Continued focus on costs G&A remains low at c.$4m p.a. Over 90% of warrants exercised 641 million shares in issue as at 10 January 2024 Year end cash balance c$8m Additional c.$2.2m gross warrants proceeds received in January 2024 8
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