Slide 1: Rockhopper Exploration PLC Corporate update - June 2025
Rockhopper Exploration PLC Corporate update - June 2025
Slide 2: Continued positive progress
Continued positive progress 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 Se
Slide 3: Sea Lion Development – Rockhopper 35%
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 4: Sea Lion Development – Rockhopper 35%
Sea Lion Development – Rockhopper 35% Phased development Gross 2C Contingent Resources (Development Pending) Phased development concept Navitas estimate US$1.4 billion capex to first oil Northern Area • Phase 1 + 2 314mmbbls 23 wells • Phase 3 95mmbbls 16 wells Central Area • Phase 1 215 mmbbls 12 w
Slide 5: 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 6: 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 7: Ombrina Mare Arbitration Insurance Key Terms
Ombrina Mare Arbitration Insurance Key Terms Whilst both the Company and its advisors remain confident of its position it has decided, in line with normal market practice, that insuring to protect shareholders against loss resulting from an annulment of the Award to be the most prudent course of act
Slide 8: 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 14/10/24) RKH retains material royalty in Monte Grosso and AC 19 – both potentially highly valuable Management targeting a furthe
Slide 9: Summary
Summary Sea Lion a significant asset with upside NSAI 2C 917mmbbls gross resouces , of which 727mmbbls development pending RKH net development pending 2C 255mmbbls RKH net 2C 255mmbbls NPV 10 US$1.8billion* - NSAI Lead technical and lending bank mandate signed by the Operator for Sea Lion financing