Rockhopper Exploration Plc · LSE:RKH
Rockhopper Exploration — Investor Presentation (September 2021)
12 slides from Rockhopper Exploration's investor presentation, Sep 30, 2021
Slide 1: Retail Investor Meeting
Retail Investor Meeting 30 September 2021
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: Sea Lion – Harbour not proceeding
Sea Lion – Harbour not proceeding → Harbour Energy has announced it will not proceed with Sea Lion → Harbour announcement cited Sea Lion “not a strategic fit” → Navitas remains interested in the Sea Lion development → Under Heads of Terms signed January 2020 Harbour has 90 days from 30 September to
Slide 4: Sea Lion – next steps
Sea Lion – next steps → Engagement with all stakeholders → Falkland Islands Government (“FIG”) dissolved the political arm of Government in late September with elections due 4 November 2021 - political engagement not possible until post that date → Harbour yet to inform Rockhopper of its preferred m
Slide 5: Sea Lion – other potential implications
Sea Lion – other potential implications → Financial → Should Harbour exit the Falklands then the commercial arrangements disclosed on 7 January 2020 will fall away → Rockhopper is in discussion with Navitas regarding its future involvement and funding contribution → Possible impact on deferred capit
Slide 6: Ombrina Mare arbitration against Republic of Italy
Ombrina Mare arbitration against Republic of Italy Energy Charter Treaty designed to provide a stable platform for energy sector investments - Republic of Italy founding signatory 2008 2009 Mediterranean Oil & Gas plc Application for Production drills and tests Ombrina Mare Concession submitted fiel
Slide 7: Ombrina Mare arbitration against Republic of Italy
Ombrina Mare arbitration against Republic of Italy → Italy has requested the Panel re-assess its view on jurisdiction → At the fist hearing in February 2019, Italy sought to have the arbitration suspended on the grounds that intra EU disputes should not be settled in international arbitration → The
Slide 8: Company structure and costs
Company structure and costs → Major cost saving already implemented Recurring G&A costs → 2021 H1 G&A down approximately 40% compared to H1 2020 (US$m) → 2020 G&A down 65% compared to 2014 levels 10.8 → Voluntary executive pay cuts implemented 9.4 → Maintained minimum level of internal capability wi
Slide 9: The North Falkland Basin - a world class hydrocarbon province
The North Falkland Basin - a world class hydrocarbon province Benign met-ocean conditions in c.450 meters water depth Extensively appraised → Excellent quality 3D seismic across entire field → 8 well penetrations, 2 production tests → Extensive suite of high quality well data → Discovered and indepe
Slide 10: Material upside potential
Material upside potential Capture 3C resource Low risk exploration upside located Further exploration and appraisal within Sea Lion close to Sea Lion of Isobel-Elaine 10
Slide 11: Easy drilling / operating conditions
Easy drilling / operating conditions Time / Depth curves for Rockhopper Operated 2010/2011 drilling campaign 11
Slide 12: Summary
Summary → Although Harbour’s exit is a difficult moment, it is also a huge opportunity → We continue to believe in the Sea Lion development and will continue to explore all avenues to bring the project on to production → Harbour no longer proceeding → Engagement required with all parties to determin
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