Acquisition of 60% of Rockhoppers licence interests in the Falkland Islands July 2012
Forward looking statements This presentation may contain forward-looking statements and information that both represents management's current expectations or beliefs concerning future events and are subject to known and unknown…
Transaction rationale Progresses Premiers strategy of growth through Pro-forma 2P Reserves and 2C Contingent Resources investment in high quality development projects (mmboe) 800 Provides a further operated core area for Premier in…
Key transaction terms Premier will acquire 60% of Rockhoppers interests in the North Falklands basin, including the Sea Lion development and the Casper, Casper South and Beverley discoveries The initial payment will be 231 million…
Project history In 2010, well 14/10-2 was drilled on the Sea Lion prospect and made the first oil discovery in the Falkland Islands In 2011, Casper, Casper South and Beverley were discovered 10 wells were drilled between April 2010…
Third party evaluation 2C Contingent Resources NPV10 Gaffney Cline Estimates1 (Gross, mmbbls) (Gross, mm) Sea Lion 320.5 4,065.0 Casper 21.1 Casper South 39.0 896.2 Other 5.3 385.9 4,961.2 Gaffney Cline key assumptions First oil…
Sea Lion area development Premier will become the operator of the Sea Lion Development schematic area development Premier has a strong track record with operating FPSO/FPV developments including in remote locations Yetagun, West…
Production and capex outlook Production outlook Development capex (boepd) (US million) 160,000 1600 140,000 1400 120,000 1200 100,000 1000 80,000 800 60,000 600 40,000 400 20,000 200 0 0 2012 2013 2014 2015 2016 2017 2018…
Production and capex outlook post farm-in Production outlook Development capex (boepd) (US million) 160,000 1600 140,000 Sea Lion 1400 * * Existing assets 120,000 1200 100,000 1000 80,000 800 60,000 600 40,000 400 20,000…
Carry arrangements worked example Illustrative example (assumes no self-funding from Rockhopper) Project development capex (gross) 5 billion Rockhopper share of capex 2 billion Development carry 722 million Standby financing from…
Further exploration potential Further exploration upside through multiple play types The 2010 to 2012 drilling campaigns targeted only the basin floor fan systems Net risked prospective resource of 175 mmboe in leads and…
Area of Mutual Interest Knowledge Transfer 60/40 Area of Mutual Interest with Rockhopper Pursuit of analogous Mesozoic plays in the Falklands Islands and offshore Southern Africa July 2012 Page 11
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