Slide 1: Rockhopper Exploration PLC Company Update - January 2016
Rockhopper Exploration PLC Company Update - January 2016 1
Slide 2: Continued Delivery Against Corporate Objectives
Continued Delivery Against Corporate Objectives • Pre-FEED work recently completed • Project entering FEED with the award of FPSO FEED contract to Significant progress in SBM advancing Sea Lion • Significant technical & cost improvements identified to enhance project economics • Draft Field Developm
Slide 3: Sea Lion Development Update – Phase 1a – FEED awarded
Sea Lion Development Update – Phase 1a – FEED awarded Phase 1a Phase 2 Phase 1a Now Develops NE &NW FPSO FEED Awarded to SBM • 18 Wells (13 Pre-Drilled) Surf FEED Awards Q1 2016 • 11 Producers Sanction Target H2 2017 • 6 Water Injectors First Oil Target 2020 Phase 3 • 1 Gas Injector Improved Project
Slide 4: Revised Commercial Terms
Revised Commercial Terms • Rockhopper to access the full $48 million Exploration Carry for the Exploration Carry 2015/16 drilling campaign • Rockhopper to retain $337 million Development Carry for Phase 1a Sea Lion Development • Further $337 million Development Carry deferred to the next phase Carry
Slide 5: Consolidated North Falkland Basin Position
Consolidated North Falkland Basin Position RKH FOGL Combined Operator Group PL032 40% n/a 40% Premier PL003a 3% 92.5% 95.5% RKH/FOGL PL003b 3% 57.5% 60.5% RKH/FOGL PL004a PL004b 24% 40% 64% Premier PL004c PL005 n/a 100% 100% RKH/FOGL Combined Group has: • Operatorship of PL003a, PL003b and PL005 lic
Slide 6: Successful Isobel-2 Redrill – Oil Discovery
Successful Isobel-2 Redrill – Oil Discovery Post completion Rockhopper will have 64% equity position in PL004 Re-drill targets 27m of Net Pay in Isobel Deep 4.2km Emily, Isobel and from Isobel Deep Isobel Deep Discovery Well Five F3 Reservoir Reservoir Quality fans intercepted at as expected at loca
Slide 7: Successful Isobel-2 Redrill – Oil Discovery
Successful Isobel-2 Redrill – Oil Discovery F3 Fans intercepted by well in marginal locations due to geometry of fan 14/20-2 14/20-2 14/20-2 bodies Irene (F3A) Emily(F3D) Elaine South (F3F) Good seismic correlation between amplitude and reservoir 14/20-2 14/20-2 14/20-2 established Isobel (F3G) Isob
Slide 8: The North Falkland Basin – A step closer to realising Billion Barrel Potential
The North Falkland Basin – A step closer to realising Billion Barrel Potential 8
Slide 9: Schematic Reservoir Correlation Across the Basin
Schematic Reservoir Correlation Across the Basin 9
Slide 10: MEDITERRANEAN
MEDITERRANEAN KS ROCKHOPPER EXPLORATION PLC
Slide 11: Mediterranean Asset Rationalisation – Key Assets Identified
Mediterranean Asset Rationalisation – Key Assets Identified ITALY Guendalina – Non Operated Production Ombrina Mare – Operated Appraisal/Development Civita – Operated Production Monte Grosso – Operated Exploration OTHER MED Croatia Block 9 – Non Operated Exploration Malta Area 3 – Non Operated Explo
Slide 12: Guendalina (20%) – Successful sidetrack provides significant production boost
Guendalina (20%) – Successful sidetrack provides significant production boost GUE2A Sidetrack penetrates all gas bearing target Pliocene sands in up dip-position and with good reservoir characteristics Two additional deeper horizons also encountered Well completed with a dual string and production c
Slide 13: Civita (100%) - Delivered on time and on budget
Civita (100%) - Delivered on time and on budget Rockhopper’s First Operated Gas Development came on stream Friday 13th November 2015 Well located in Aglavizza Production Concession First Production 2P reserves of approximately 1bcf at > 500m3/hr Plant now producing at stabilised rate of c. 25,000scm