Slide 1: Building a well-funded, full-cycle, exploration led E&P company
Investor Presentation Building a well-funded, full-cycle, exploration led E&P company June 2016
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: Strategy: building a well-funded, full-cycle, exploration led E&P company
Strategy … building a well-funded, full-cycle, exploration led E&P company • Focus on North Falkland Basin (“NFB”) and Greater Mediterranean Balanced portfolio • Building a balanced portfolio across the asset life cycle in core • Recently announced production acquisition in Egypt geographical areas
Slide 4: Continued delivery against corporate objectives
Continued delivery against corporate objectives Progress to date 2016 • Pre-FEED work completed end 2015 Significant progress • Progression of FEED • Project entered FEED January 2016 in advancing Sea • Significant technical & cost improvements identified • Additional savings targeted to Lion furthe
Slide 5: North Falkland Basin
North Falkland Basin
Slide 6: Growing our asset base in the Falklands through exploration and acquisition
Growing our asset base in the Falklands …through exploration and acquisition Following the merger with FOGL, Rockhopper has: • Consolidated its leading North Falkland Basin acreage position • Gained operatorship of licences PL003a, PL003b and PL005 • Undertaken independent audit which confirms Sea L
Slide 7: Contingent oil resources >300 MMstb, net to Rockhopper
Contingent oil resources >300 MMstb, net to Rockhopper Management Resources utilised 25% RF (Best) 35% RF (High) against ERCE audited STOIIP values Not included in ERCE 2016 Audit: Johnson 2C — 64.6 mmboe (GCA 2012) 7 Liz 2C — 60.5 mmboe (Senergy 2012)
Slide 8: Significant low risk, near field drill ready prospects
Significant low risk, near field …drill ready prospects Notes : Drill target number for reference only – no ranking implied, all prospective numbers unrisked Prospects not included in ERCE 2016 Audit (Gross Best): 8 GCA 2012 Audit 212MMstb George, Berkeley & S2 Senergy 2012 Audit 194MMstb Ann / Orca
Slide 9: Sea Lion phase 1 development update
Sea Lion phase 1 development update “Collaborative partnership” Phase 1 project economics enhanced with falling break- Subsea FPSO even price* InstallaBon • c.220 mmbbl from NE & NW areas of PL032 • Peak production of c.75,000 bopd • 18 wells (13 pre-drilled) • 20 year field life Subsea Risers • $1.
Slide 10: Securing multiple development phases
Securing multiple development phases …successful exploration campaign establishes Phase 2 and 3 viability Phase 1 Sea Lion Complex Phase 2 Resource RKH WI % Isobel-‐Elaine (mmbbl) Complex Phase 1 220 40% Phase 3 Phase 2 300 40 – 64% Source: Premier Oil Source: Premier Oil 10
Slide 11: Greater Mediterranean
Greater Mediterranean 11
Slide 12: Growing our asset base in Greater Mediterranean
Growing our asset base in Greater Mediterranean …Acquisition of Beach Egypt materially increases production Abu Sennan (RKH 22%) • Kuwait Energy operator • Currently producing ~1,000 boepd net • Active drilling program to target near-field upside Guendalina (RKH 20%) • Eni operated • Currently produ
Slide 13: Funding update
Funding update • Cash at 31 December 2015 : $110 million • Forecast capital expenditure in 2016 comprises • Sea Lion FEED: $20 million • Egypt acquisition: c.$10 million (before working capital, expected to close mid 2016) • Minimal expenditure on Falkland Island exploration taking into account Expl