Rockhopper Exploration Plc · LSE:RKH

Rockhopper Exploration — Shareholder Meeting (May 2015)

18 slides from Rockhopper Exploration's shareholder meeting presentation, May 19, 2015

  1. Slide 1: Rockhopper Exploration PLC Annual General Meeting

    Rockhopper Explora.on PLC Annual General Mee.ng 19th May 2015 1

  2. 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

  3. Slide 3: Rockhopper Exploration at a glance

    Rockhopper ExploraAon at a glance Key metrics Market cap at 65p: $285 million 2P reserves: 1 mmboe Cash: $200 million (no debt) 2C con.ngent resources: 182 mmboe P2 prospec.ve resources: 622 mmboe Building a balanced por0olio of assets in our core areas of the North Falkland Basin and the Mediterran

  4. Slide 4: Our business model: Building a well-funded, full cycle, exploration led E&P company

    Our business model: Building a well-­‐funded, full cycle, exploraAon led E&P company Maintaining balance sheet strength • $200m cash and no debt • Fully funded through first phase of Sea Lion development Building a balanced por0olio in core areas • Focus on NFB and Med / North Africa • Opportunis.cal

  5. Slide 5: Track record of success

    Track record of success Sea Lion Appraisal Consolidates interests in NFB acreage ExploraAon in NFB commences Following the successful flow test in Rockhopper consolidates its interests in the In February, Rockhopper announced late 2010 a further eight explora.on Falklands through the farm-­‐in to acr

  6. Slide 6: Highlights

    Highlights Sea Lion FPSO concept adopted Zebedee oil & gas discovery Isobel opera.ons con.nue Guendalina accelerated Civita on track Ombrina EIA/AIA Croa.a licence award

  7. Slide 7: North Falkland Basin Update

    North Falkland Basin Update

  8. Slide 8: Sea Lion FPSO concept re-selected

    Sea Lion FPSO concept re-­‐selected $70mm JV pre FID spend 2015 Target FEED award mid 2015 Target sanc.on mid 2016 14 development wells • 8 producers • 5 water injectors Low cost phased FPSO solu.on • 1 gas producer / injector $1.8bn to first oil (at Nov 2014) • 9 pre-­‐drilled c. $11.25 per bbl 160

  9. Slide 9: Zebedee 14/15b-5 Successful Oil & Gas Discovery Well

    Zebedee 14/15b-­‐5 Successful Oil & Gas Discovery Well • Successful discovery of oil and gas in three new F2 sequence reservoirs at Zebedee • All seven prognosed reservoir targets were penetrated on or close to prognosis, with an eighth reservoir (Ninky South) tagged at its margin. • Hector fan: – G

  10. Slide 10: 14/20-1 Isobel Deep well update

    14/20-­‐1 Isobel Deep well update Isobel Deep target 10

  11. Slide 11: Mediterranean Update

    Mediterranean Update

  12. Slide 12: Guendalina – Production Update

    Guendalina – ProducAon Update • Accelera.on of remedial works : • GUE 3 SS (short string) s.mulated increasing produc.on from 18 to 75kscm/d1 • GUE 3 LS (long string) con.nues to produce at c.115 kscm/d • Combined produc.on now averaging 190kscm/d (38kscm/d net to Rockhopper, equivalent to 223boe/d2

  13. Slide 13: Ombrina Mare

    Ombrina Mare • Perminng update : – The EIA* and AIA* for the Ombrina Mare Field Development Plan (FDP) were approved by the EIA Commipee of the Ministry for the Environment – The decree requires the signature of the Minister of Cultural Heritage before being sent to the Minister of Economic Developm

  14. Slide 14: Civita Field Operations Update

    Civita Field OperaAons Update • Project sanc.oned and contracts awarded • Surface facili.es installa.on expected to start mid May 2015 • Start-­‐up of pipeline construc.on expected in July • First gas an.cipated before year end • CAPEX to first gas c.$3.0M • 100% RKH Well Head Gas Gas Gas Gas Gas Met

  15. Slide 15: Monte Grosso – Undrilled High Value Prospectivity

    Monte Grosso – Undrilled High Value ProspecAvity • Civil works to site approved for 2016 • EIA for Monte Grosso well being prepared for submission with target spud of 2017 • Discussions with partners regarding drilling of well. ENI best placed to operate drilling of well building on regional driling

  16. Slide 16: Building our Mediterranean Portfolio – Croatia First Licence Round

    Building our Mediterranean Por0olio – CroaAa First Licence Round • Rockhopper awarded 40% non-­‐operated interest in Block 9, alongside ENI as operator in Croa.an Hydrocarbon Authority’s (CHA) 1st Licensing round • Block located in shallow (c.80m) water in Pliocene biogenic gas play of Adria.c • Pro

  17. Slide 17: Funding Update

    Funding Update* • Cash at 31 December 2014 : $200 million • NFB well cost es.mated at $50 million gross per well • Total net cost to Rockhopper for all four NFB wells c.$25 million (ater carries), c.$6 million per well • $48 million Explora.on Carry from Premier • 2 well part carry of FOGL 2015 capi

  18. Slide 18: Summary

    Sea Lion NFB Exploration MEDITERRANEAN Civita Guendalina Malta Area 3 Croatia ROCKHOPPER EXPLORATION PLC Falkland Islands mmbbl (excludes gas) ‘Submission of draft fe hh oh Construction commences Contingent Resources Resources (2C] Prospective Management estimates

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