Rockhopper Exploration Plc · LSE:RKH
Rockhopper Exploration — Investor Presentation (July 2025)
15 slides from Rockhopper Exploration's investor presentation, July 2025
Slide 1: Rockhopper Exploration PLC Capital Raise - July 2025
Rockhopper Exploration PLC Capital Raise - July 2025
Slide 2: Disclaimer
disclaimer THIS PRESENTATION, INCLUDING THE SLIDES, THE INFORMATION CONTAINED IN THE SLIDES, ANY QUESTION AND ANSWER SESSION, THE ORAL PRESENTATIONS AND RELATED MATERIALS AND ANY WRITTEN OR ORAL MATERIAL RELATED TO, DISCUSSED OR DISTRIBUTED DURING THE PRESENTATION MEETING (TOGETHER, THE "PRESENTATIO
Slide 3: Disclaimer
disclaimer No representation, warranty or undertaking, express or implied, is or will be made or given and no responsibility or liability is or will be accepted by the Company or Canaccord (apart from any responsibilities or liabilities that may be imposed by the Financial Services and Markets Act 2
Slide 4: Capital Raise – key information
Capital Raise – key information 2 Tranche Placing and Open Offer to raise up to US$150 million Firm Placing - US$115 million • Binding commitments already received • US$115 million at 53p* plus one underwriting warrant for every 4 shares at 80p** • Funds Rockhopper for basic FID costs • Funds to be
Slide 5: Approaching FID
Approaching FID Sea Lion – Navitas Petroleum (Operator) 65%, Rockhopper 35% • Technical and lending bank appointed to lead financing • Positive feedback from potential providers of capital • FID anticipated H2 2025 New independent resource evaluation net to Rockhopper 35% • Netherland Sewell Associa
Slide 6: 2C NPV 10 net to RKH, post tax, US$1.8 billion
Sea Lion Development – Rockhopper 35% Gross 100% , Source NSAI Net RKH 35% , Source NSAI 1C 2C 3C 1C 2C 3C (mmbbls) (mmbbls) (mmbbls) (mmbbls) (mmbbls) (mmbbls) Development 470 727 939 Development 165 255 329 pending pending Development 78 180 300 Development 27 63 105 on hold on hold Development 6
Slide 7: Sea Lion Development – Phase 1 financing & FID
Sea Lion Development – Phase 1 financing & FID Rockhopper requires equity funding to take FID at Sea Lion Phase 1 Phase 1 development 170mm bbls 11 wells Phase 1 Project costs from FID to completion c.US$2.058 billion Senior secured financing expected to be US$1 billion JV equity requirement US$790
Slide 8: Sea Lion Development – significant follow on
Sea Lion Development – significant follow on Phased development Gross 2C Contingent Resources (Development Pending) Phased development concept Project costs to first oil c.US$1.680 billion Northern Area • Phase 1 + 2 314mmbbls 23 wells • Phase 3 95mmbbls 16 wells Central Area • Phase 1 215 mmbbls 12
Slide 9: Key commercial arrangements with Navitas
Key commercial arrangements with Navitas Funding arrangement between farm-in completion and Final Investment Decision (“Pre-FID Loan”) → Navitas to fund 100% of Rockhopper Sea Lion phase 1 project costs prior to FID (for any costs not met by third party debt financing)* → Repaid from 85% of Rockhopp
Slide 10: Ombrina Mare Arbitration Insurance Key Terms
Ombrina Mare Arbitration Insurance Key Terms On 3 June 2025 Rockhopper confirmed that the Ombrina Mare Arbitration Award had been annulled in full The Company had previously announced an insurance policy to cover this eventuality The insurance policy ensures that, in the event that the Italian Repub
Slide 11: Ombrina Mare Arbitration Monetisation Key Commercial Terms
Ombrina Mare Arbitration Monetisation Key Commercial Terms Rockhopper has monetised 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 (pre tax*) Tranche 1 Upfront payment recei
Slide 12: Italian Exit
Italian Exit Transaction to exit all remaining Italian licences Reduces RKH P&A liabilities by approximately €12.5 million RKH paying €5.5million (see detail in RNS dated 14 October 2024) RKH retains material royalty in Monte Grosso and AC 19 – both potentially highly valuable Management targeting a
Slide 13: Capital Raise – key information
Capital Raise – key information 2 Tranche Placing and Open Offer to raise up to US$150 million Firm Placing - US$115 million • Binding commitments already received • US$115 million at 53p* plus one underwriting warrant for every 4 shares at 80p** • Funds Rockhopper for basic FID costs • Funds to be
Slide 14: Capital Raise – reasons for raise
Capital Raise – reasons for raise Background Sea Lion is Rockhopper’s main asset discovered in 2010 and initially farmed out in 2012 Sea Lion has an NPV 10 net to Rockhopper of US$1.8 billion at US$70 Brent (NSAI report) with additional upside That value can only be unlocked if Rockhopper is funded
Slide 15: Summary
Summary Sea Lion a significant asset with upside NSAI 2C 917mmbbls gross resources, of which 727mmbbls development pending RKH net development pending 2C 255mmbbls RKH net 2C 255mmbbls NPV 10 US$1.8 billion* - NSAI Lead technical and lending bank mandate signed by the Operator for Sea Lion financing
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