Rockhopper Exploration Plc · LSE:RKH

Rockhopper Exploration — Investor Presentation (February 2016)

14 slides from Rockhopper Exploration's investor presentation, Feb 25, 2016

  1. Slide 1: Rockhopper Exploration PLC

    Rockhopper Exploration PLC Investor Presentation 25 February 2016 1

  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: Strategy – Building a well-funded, full-cycle, exploration led E&P

    Strategy – Building a well-funded, full-cycle, exploration led E&P • North Falkland Basin (“NFB”) and Mediterranean & North Africa Balanced portfolio in core • Building a balanced portfolio across the asset life cycle geographical areas • Estimated revenue of $8 – 10 million in 2016 • Strong balance

  4. Slide 4: Continued delivery against corporate objectives

    Continued delivery against corporate objectives Progress to date 2016 • Pre-FEED work completed • SPS FEED award – Q1 2016 Significant progress in • Project entered FEED - FPSO, SURF T&I and Flexibles • Additional savings targeted to advancing Sea Lion • Significant technical & cost improvements ide

  5. Slide 5: North Falkland Basin

    North Falkland Basin

  6. Slide 6: Consolidated North Falkland Basin Position

    Consolidated North Falkland Basin Position Rockhopper FOGL Combined Operator Group PL032 40% n/a 40% Premier PL003a 3% 92.5% 95.5% Rockhopper PL003b 3% 57.5% 60.5% Rockhopper PL004a PL004b 24% 40% 64% Premier PL004c PL005 n/a 100% 100% Rockhopper Following the merger with FOGL, Rockhopper has: • Ove

  7. Slide 7: Sea Lion Phase 1 Development Update

    Sea Lion Phase 1 Development Update “Collaborative partnership” Phase 1 project economics enhanced with falling break-even price Subsea FPSO Installation – 220 mmbbl from NE & NW areas of PL032 – Peak production of 85,000 bbl/d – 18 wells (13 pre-drilled) – 20 year field life Subsea Risers – $1.8bn

  8. Slide 8: Potential of North Falkland Basin Confirmed

    Potential of North Falkland Basin Confirmed Successful exploration programme now complete • Zebedee discovery proves up additional resource to northern North Phase 1 Falklands Basin development – Adds >60 mmbbl resource to Sea Lion Phase 2 Sea Lion • Isobel Complex potential confirmed Complex – Pote

  9. Slide 9: Revised Commercial Terms with Premier

    Revised Commercial Terms with Premier • Rockhopper to access the full $48 million Exploration Carry for the 2015/16 Exploration Carry drilling campaign • Rockhopper to retain $337 million Development Carry for Phase 1 Sea Lion Development • Further $337 million Development Carry deferred to the next

  10. Slide 10: Successful Isobel-2 Re-drill – Oil Discovery

    Successful Isobel-2 Re-drill – Oil Discovery 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 as fans intercepted at expected at fan location: Irene, margins, significant Emily, Elaine South, upside

  11. Slide 11: Successful Isobel-2 Re-drill – Oil Discovery

    Successful Isobel-2 Re-drill – Oil Discovery F3 fans intercepted by well in marginal locations due to geometry of fan bodies 14/20-2 14/20-2 14/20-2 Irene (F3A) Emily (F3D) Elaine South (F3F) Good seismic correlation between amplitude and reservoir established 14/20-2 14/20-2 14/20-2 Isobel (F3G) Is

  12. Slide 12: Greater Mediterranean

    ame . ti © i we } ; Te Wy ] eG eee

  13. Slide 13: Mediterranean Asset Overview

    Mediterranean Asset Overview Guendalina (RKH 20%) • Eni operated • Currently producing ~580 boe/d net • Estimated revenue $7m in 2016 Civita (RKH 100%) • Rockhopper operated • Currently producing ~160 boe/d net • Estimated revenue $2m in 2016 Ombrina Mare (RKH 100%) • Rockhopper operated • 25 – 40 m

  14. Slide 14: Funding Update

    Funding Update • Cash at 31 December 2015 : $110 million (unaudited) • Forecast expenditure on progressing Sea Lion FEED in 2016 : $20 million net to Rockhopper • Minimal expenditure on exploration expected in 2016 taking into account • $48 million Exploration Carry from Premier • Expected insurance

Rockhopper Exploration — Investor Presentation (February 2016) on 6ix