Rockhopper Exploration plc · LSE:RKH

Rockhopper Exploration — Canaccord Genuity Global Resources Conference 2012

17 slides from Rockhopper Exploration's conference presentation, October 2012

  1. Slide 1: Rockhopper Exploration Plc - Canaccord Genuity Global Resources Conference

    ROCKHOPPER EXPLORATION PLC CANACCORD GENUITY GLOBAL RESOURCES CONFERENCE OCTOBER 2012

  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: Corporate Snapshot

    ROCKHOPPER EXPLORATION PLC CORPORATE SNAPSHOT  Interests in 8 licences in the North Falkland Market data(3) Basin (NFB). Exchange AIM  38% of the Sea Lion oil field (321 mmbbl gross) Ticker RKH and 30% of adjacent discoveries (65 mmbbl Price(4) 170p gross)(1) 52 week range 156p – 399p  First oil

  4. Slide 4: Rockhopper Exploration Track Record

    ROCKHOPPER EXPLORATION TRACK RECORD  2004 - 2005 • Rockhopper is established and granted licences PL023, PL024, PL032 and PL033 in the NFB. Farm-in to licences PL03 and PL04. • IPO and admission to AIM raising £15 million.  2006 - 2008 • 850km² 3D seismic survey in licences PL032 and PL033. • Tota

  5. Slide 5: Farm Out to Premier Oil: Highlights of the Transaction

    FARM OUT TO PREMIER OIL HIGHLIGHTS OF THE TRANSACTION  Farm-out to Premier Oil announced on 12 July 2012  Objectives • To attract an experienced and capable operator to develop Sea Lion. • To fully finance the project. • To retain a material stake.  Terms of Farm Out • Premier will acquire 60% of

  6. Slide 6: Farm Out to Premier Oil: Current Status

    FARM OUT TO PREMIER OIL CURRENT STATUS  Transaction • Formal agreement received from the Falkland Islands Government (FIG), farm-out should complete shortly. • Handover to Premier commenced immediately post announcement. • Transfer of operatorship anticipated in late 2012.  Development Plan • FPSO

  7. Slide 7: NFB Acreage Position Post Farm Out

    NFB ACREAGE POSITION POST FARM OUT Licence Rockhopper interest PL032 40% PL033 40% PL023 40% PL024 40% PL003 3% PL004a 3% PL004b 24% PL004c 10% 7

  8. Slide 8: Exploration Upside: Significant Potential in North Falkland Basin

    EXPLORATION UPSIDE SIGNIFICANT POTENTIAL IN NORTH FALKLAND BASIN  Rockhopper has a strong understanding of the NFB and retains the sub- surface lead in exploration.  Appraise existing candidates for tie-back to Sea Lion FPSO (Casper, Casper South, and Beverley).  Multiple oil prospects with >20%

  9. Slide 9: Exploration Upside: New Ventures & People

    EXPLORATION UPSIDE NEW VENTURES & PEOPLE  AMI with Premier Oil • Targets a geological province that is continuation of the Cretaceous rifted eastern margin play of the opening of the South Atlantic. • Lower Cretaceous lacustrine / marine source potential within primary oil window offshore South Afr

  10. Slide 10: Summary: Rockhopper Going Forward

    SUMMARY ROCKHOPPER GOING FORWARD  Rockhopper is fully funded for its share of capital expenditure on Sea Lion through the US$722 million (net) development carry and standby financing arrangement provided by Premier Oil.  Rockhopper has an aligned and experienced operator with significant experienc

  11. Slide 11: Appendix

    APPENDIX EXPLORATION PLC 11

  12. Slide 12: Operations: Drilling Efficiency (AGR Data)

    OPERATIONS DRILLING EFFICIENCY (AGR DATA) Waiting-on-weather Non-productive time NFB vs. North Sea NFB vs. North Sea All wells average (46 All wells average (46 9.5% 18.5% wells) wells) North Sea average (35 North Sea average (35 10.6% 20.8% wells) wells) Ocean Guardian NFB Ocean Guardian NFB semi-s

  13. Slide 13: Operations: Metocean Conditions

    OPERATIONS METOCEAN CONDITIONS 13

  14. Slide 14: Farm Out: Standby Financing & Tax Treatment

    FARM OUT STANDBY FINANCING & TAX TREATMENT Financing arrangement with Premier Oil Expected tax treatment • Available on all development capex (pre and post first oil). • Branch elections effective from 1 April 2012 mean that this is outside the scope of UK tax. • Once the field is cash flow positive

  15. Slide 15: Exploration Prospect Inventory – Fan Play Type

    EXPLORATION PROSPECT INVENTORY – FAN PLAY TYPE Fan Name Block WI % Gross Unrisked Prospective Resources MMBBLS GCoS % Low Best High SL30 PL032 40 8.5 13.0 18.6 22 Casper South PL032 40 3.8 6.2 9.1 16 Casper South PL004c 10 5.3 8.1 11.3 16 Beverley West PL004b 24 7.7 12.8 19.6 34 Beverley PL004c 10 3

  16. Slide 16: Exploration Leads Inventory

    EXPLORATION LEADS INVENTORY Lead Block WI % Gross Unrisked Prospective Resources MMBBLS GCoS % Best (1) Jason PL032 40 254.4 5 Tyssen (1) PL032 40 65.4 5 (1) Sedge PL004c 40 65.7 5 (1) Fox PL004b 40 172.7 GCA 5 Stephens (1) PL004c 40 67.5 2012 CPR 5 (1) Walker PL032 40 27.0 5 (1) Meredith PL032 40 9

  17. Slide 17: Board of Directors

    BOARD OF DIRECTORS DR. PIERRE JUNGELS, CBE - Chairman JOHN CROWLE - Non-Executive Director PhD Geophysics & Hydraulics, California Institute of Trained geologist with upstream oil and gas experience Technology. Previously worked at Shell, PetroFina, and from BP, LASMO, Enterprise Oil and Shell. Curr

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