Rockhopper Exploration plc · LSE:RKH

Rockhopper Exploration — Corporate Update (April 2011)

17 slides from Rockhopper Exploration's corporate update, April 2011

  1. Slide 1: Rockhopper Exploration PLC April 2011 Update

    Rockhopper Exploration PLC April 2011 Update www.rockhopperexploration.co.uk

  2. Slide 2: Disclaimer

    Disclaimer Certain information in this presentation about the Company and its prospects constitutes forward-looking information. Such forward-looking information, including but not limited to statements with respect to anticipated rates of production, the estimated costs and timing of the Company's

  3. Slide 3: Falkland Island Exploration Areas

    Falkland Island Exploration Areas 3

  4. Slide 4: Rockhopper Falkland Islands: Board of Directors

    Rockhopper Falkland Islands Board of Directors Dr. Pierre Jungels, CBE: Chairman  PhD Geophysics & Hydraulics, California Institute of Technology  Previously at Shell, PetroFina SA, Enterprise Oil Sam Moody: CEO  Co-founder of Rockhopper  Previously at AXA Equity & Law Investment Management, St

  5. Slide 5: Rockhopper – current corporate position

    Rockhopper – current corporate position Fully funded for all 2011 activities No debt, no convertibles Current cash position – circa 300 million USD 258 million shares in issue AIM listed: ticker RKH.L 5

  6. Slide 6: NFB 2010/2011 drilling

    NFB 2010/2011 drilling 2010/2011 Drilling History – North Falkland Basin name operator code date type rkh wi*** oil pay (net) Liz DES 14/19-1 apr 2010 exploration 7.5% - Sea Lion RKH 14/10-2 may 2010 exploration 100% 53m Ernest RKH 26/6-1 aug 2010 exploration 100% - Flow test RKH (14/10-2) sep 2010

  7. Slide 7: Sea Lion - history

    Sea Lion - history Detailed Sea Lion Well Results Table Gross Net to gross Number of Net to gross Ave Sw in Oil column Net pay Porosity (%) reservoir main sands in pay zone pay zone (tvdss) thickness 14/10-2 67m 80% 7 83% 30% 2374m-2581m 53m 18-29 14/10-3 110m 85% 4 91% 63% 2473m-2481m 7.3m 18-25 14

  8. Slide 8: 14/10-2 CPI

    14/10-2 CPI 14/10-2 67m Gross reservoir thickness Top Sea Lion Upper Fan 80% net : gross 2400m (-2374m tvdss) 83% Net : Gross in pay zone 18-29% porosity 53m net pay 30% Average Sw in pay zone Oil recovered to surface from multiple MDT’s Well flow tested for 18hours at approximate rate of 2000bopd f

  9. Slide 9: 14/10-3 CPI

    14/10-3 CPI 14/10-3 110m Gross reservoir thickness 84% net : gross 91% Net : Gross in pay zone 18-25% porosity 7.3m net pay 63% Average Sw in pay zone Top Sea Lion Northern Fan 2425m (-2399m tvdss) 2473.5m mdbrt Oil recovered to surface from MDT Top S2 Fan 2515m (-2488m tvdss) 9

  10. Slide 10: 14/10-4 CPI

    14/10-4 CPI 14/10-4 107m Gross reservoir thickness 76% net : gross 88% Net : Gross in pay zone 15-27% porosity 33m net pay 35% Average Sw in pay zone Oil recovered to surface from Top Sea Lion Upper Fan multiple MDT’s 2465m (-2439m tvdss) 2486m mbrt MDT Dual Packer flowed oil at 2,700 bopd equivalen

  11. Slide 11: Sea Lion: Management Interpretation post 14/10-4

    Sea Lion Management Interpretation post 14/10-4  new low case area  22 km2  516 mmbbls STOIIP  155 mmbbls recoverable using 30% recovery  additional wells required to confirm Management low case area STOIIP and recoverable economically viable using RPS Energy economics from 2009 Competent Perso

  12. Slide 12: Sea Lion: Management Interpretation post 14/10-4

    Sea Lion Management Interpretation post 14/10-4  new mid case area  36.5 km2  volumes to be determined by drilling additional wells  new high case area to be determined using additional seismic New mid case area 12

  13. Slide 13: Sea Lion: Reservoir Distribution

    Sea Lion Reservoir Distribution Analysis of MDT pressures and logging data indicates communication between 14/10-2 and 14/10-4 in the southern fan upper All 3 wells have encountered thick sequences of good quality reservoir as prognosed Company does not believe 14/10-2 and 14/10-3 to be in communica

  14. Slide 14: Sea Lion – RPS Energy economics

    Sea Lion – RPS Energy economics Data from RPS Energy CPR 2009 Sea Lion Low Mid High 9000 npv 10 @ usd 80 bbl oil price 8000 STOIIP 234 568 1348 7000 mmbbls 6000 Recoverable 58 170 472 5000 mmbbls 4000 3000 2000 1000 NPV10 @ $ 548 $2,498 $8,366 0 USD 80 bbl $ mm 58 170 472 recoverable barrels 14

  15. Slide 15: 2011 Plan - seismic

    2011 Plan - seismic  Acquisition of new 3D seismic in unexplored areas with Polarcus  2x vessels shared with other operators  Large programme - c 5000km2  Re-processing of existing 3D seismic  Data acquisition currently due to complete late April  Processed data likely to be ready for interpre

  16. Slide 16: 2011 Plan - drilling

    2011 Plan - drilling Determine size of Sea Lion discovery Additional exploration Minimum 3 further wells Full flow test equipment targeted to be in place for next Rockhopper well 16

  17. Slide 17: Summary

    Summary Fully funded Strong Board and management team – highly focused First oil discovery in the Falklands First flow test in the Falklands First successful appraisal in the Falklands 17

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