Rockhopper Exploration Plc · LSE:RKH
Rockhopper Exploration — Shareholder Meeting (September 2010)
11 slides from Rockhopper Exploration's shareholder meeting presentation, Sep 30, 2010
Slide 1: Rockhopper Exploration PLC AGM Presentation
Rockhopper Exploration PLC 30 September 2010 AGM Presentation www.rockhopperexploration.co.uk
Slide 2: Forward looking information
Forward looking information 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
Slide 3: Rockhopper Falkland Islands Board of Directors
Rockhopper Falkland Islands Board of Directors Dr. Pierre Jungels, CBE: Executive Chairman PhD Geophysics & Hydraulics, California Institute of Technology Previously at Shell, PetroFina SA, Enterprise Oil Sam Moody: Managing Director Co-founder of Rockhopper Previously at AXA Equity & Law In
Slide 4: Sea Lion – Oil Discovery Main fan
Sea Lion Sea Lion – Oil Discovery Main fan Overview • Sea Lion well spudded on 16 April 2010 and has reached a depth of 2,744 metres • Initial logging data confirmed: ― 53 metres of net pay in multiple zones ― Average porosity is 19% ― Logs showed good permeability ― No oil/water contact has been en
Slide 5: Sea Lion
Sea Lion Top oil sand Lowest point of main fan Oil down to level 5
Slide 6: RPS Resource upgrade post well – Sea Lion
RPS Resource upgrade post well – Sea Lion Volumetric estimates RPS Energy estimates as of 3 June 2010*** Background • Rockhopper has requested a preliminary volumetric assessment of Oil Initially In Place and estimates of recoverable resources from RPS Energy on the oil discovery made on the Sea Lio
Slide 7: Sea Lion – Flow Test
Sea Lion – Flow Test Test results Log from Sea Lion well 2 sands flowed • Test designed to flow 4 sands, gun misfire caused limited perforation and flow • Outcome limited by downhole and surface equipment • Not all guns fired Perforated and flowed • Rockhopper believes that the well could have flow
Slide 8: Next Steps
Next Steps Technical Operational Re-examine existing 3D in PL032/33 Consider acquiring new 3D seismic • Re-examine seismic data in the light of lessons learned from the Sea Lion • Ultimate size of Sea Lion fan unknown owing to lack of data – discovery intend to complete survey sharing vessel with ot
Slide 9: Value Creation
Value Creation CocktiopPer VALUE GENERATION FROM ONE DISCOVERY ROCKHOPPER EXPLORATION PLC VALUE Discovery TIME
Slide 10: Next Steps
Next Steps Financial & Corporate Funding requirements • Once work programme is finalised, funding requirement can be calculated • All funding options will be considered at the time Listing Status • Company is considering a move to main list when the time is right which is likely to be post appraisal
Slide 11: Summary
Summary Overview • Well 14/10-2 “Sea Lion” oil discovery • Successful flow test • First oil discovery in the Falklands • First flow test in the Falklands • First Contingent Resource in the Falklands • Best estimate recoverable contingent oil resource of 242 MMbbls* RPS Energy • Board believes signif
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