Rockhopper Exploration Plc · LSE:RKH

Rockhopper Exploration — Corporate Update (April 2023)

7 slides from Rockhopper Exploration's corporate update, April 2023

  1. Slide 1: Corporate Update

    KS ROCKHOPPER EXPLORATION PLC Corporate Update April 2023

  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: Sea Lion - update from Navitas Petroleum

    Sea Lion - update from Navitas Petroleum → Navitas, Operator of Sea Lion, published an independent review of the Rockhopper and Navitas asset base → All numbers assume a leased FPSO and a 100% working interest → Source: Netherland Sewell & Associates independent research report (“NSAI Independent Re

  4. Slide 4: Sea Lion – capital efficient development

    Sea Lion – capital efficient development 2C Contingent Resources (Development Pending) phase 1 and 2 development concept → Phased development Pre first oil capex $1.3bn → 2 drilling campaigns Total capex $2.2bn → First campaign of 18 wells, 11 of which to be drilled pre- first oil Life of field cost

  5. Slide 5: Sea Lion – key commercial terms

    Sea Lion – key commercial terms → Rockhopper retains material working interest → Acreage held 65% Navitas (Operator), 35% Rockhopper → Rockhopper has two loans from Navitas Loan 1 – available from deal completion Loan 2 – available from FID to the earlier of project (September 2022) to FID completio

  6. Slide 6: Ombrina Mare Arbitration update

    Ombrina Mare Arbitration update → Rockhopper awarded c.€190 million plus interest in compensation in August 2022 pursuant to an ICSID arbitration against the Italian Republic, following a unanimous decision by the arbitral Tribunal that the Italian Republic had breached its obligations under the Ene

  7. Slide 7: Summary

    Summary → Strong progress at Sea Lion under Navitas Operatorship → Life of field breakeven reduced to under US$30 per barrel → Total recoverable resources 269 mmbbls (2C) → Pre-first oil capex of US$1.3 billion → 2C NPV10 US$4.3 billion to the Joint Venture* → Ombrina Mare annulment being contested;

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