Oslo, 28th March 2012 Rocksource ASA Presentation Swedbank Nordic Energy Summit CEO Chris Spencer www.rocksource.com
Disclaimer This presentation contains information provided by the management of Rocksource ASA with respect to historical and expected performance of the business as well as the historical and expected performance of its industry.…
Agenda Rocksource in brief The recent NCS asset transaction Portfolio update and way forward Summary Appendix
Rocksource in brief Number of awards in NCS 20th and 21st Rounds: Rocksource is an oil and gas company focused 8 21 R 7 on high impact exploration 6 20 R 5 Technical capabilities have been confirmed 4 3 through licensing…
Agenda Rocksource in brief The recent NCS asset transaction Portfolio update and way forward Summary Appendix
The asset transaction with Valiant Background: - A disappointing outcome of the 2011 drilling campaign left Rocksource in a financially challenging situation - Key short term goal has been to re-establish a more robust financial…
Strategic rationale behind the transaction Financial foundation strengthened - Removes short to medium term financial constraints - Ensures that Rocksource is funded into the Companys next drilling campaign Important step in…
Agenda Rocksource in brief The recent NCS asset transaction Portfolio update and way forward Summary Appendix
Norwegian Continental Shelf (NCS) overview A total of 14 exploration licenses in North Sea, Norwegian Sea and Barents Sea North Sea: - Six exploration licenses, whereof five in the Stord Basin Norwegian Sea: - Four exploration…
The Norvarg gas discovery (Rocksource 7%) Significant gas discovery announced in June Official resource range 60-315 mmboe (15-63 mmboe net Rocksource) Defined as Big Cat ( 200 mmboe) by Operator Total in September * Upside…
Norvarg A strategic asset Secure gas supplies to Europe has political dimensions Can drive Barents Sea infrastructure developments and increase commerciality of the area High level of exploration activity in Barents Sea…
2013 drilling candidate: PL 506S (Rocksource 25%, op) High risk / high reward oil prospect Water depth: 220-270 meters Key risk: Charge Limited well control Good 3D seismic coverage and 3D EM Drill-or-drop by June 2012 Prospects…
2013 drilling candidate: PL 528 (Rocksource 7.5%) Structural trap with well control Gas and oil potential primarily gas Significant follow up potential and prospectivity on the license Water depth: 1000 1600 meters Drill or drop now…
Gulf of Mexico (GoM) overview Gulf of Mexico overview 17 deep water leases in the Gulf of Mexico Leases acquired in 2009 through farm-ins and through awards in the Western Gulf of Mexico Lease Sale 210 Estimated exploration potential…
The Trident Discovery (Rocksource 100%) 812 813 814 815 General information Great White Silvertip - Three well oil discovery (2001 & 2002), located in Alaminos Canyon Tobago 855 856 857 858 859 Main res Wx2 - 12 km from Shells…
AC 855 2013 drilling candidate 813 814 +200 mmboe oil prospect 812 815 Great White Silvertip Water depth: 2200 meters Tobago 855 856 857 858 859 Key risk: Reservoir Tobago Unit 1000ft closure Extensive data from wells at…
Agenda Rocksource in brief The recent NCS asset transaction Portfolio update and way forward Summary Appendix
The way forward Cost effective exploration - On target to reduce G&A level by a minimum of 30 per cent - Limited project cost for 2012 and 2013 following the transaction with Valiant Technical capabilities intact - Excellent…
Agenda Rocksource in brief The recent NCS asset transaction Portfolio update and way forward Summary Appendix
Profit and loss statement NOK '000 Q4 2011 Q3 2011 Q2 2011 Q1 2011 Q4 2010 2011 2010 Operating income 16 478 9 095 159 215 1 246 4 066 186 034 18 218 Total operating income 16 478 9 095 159 215 1 246 4 066 186 034 18 218 Other…
Shareholder list (updated 26 March) Investor Number of % of total Type Country VENTURE DRILLING AS 36,478,112 10.48% Comp. NOR PETROLIA INVEST AS 11,678,538 3.35% Comp. NOR OM HOLDING AS 9,063,644 2.60% Comp. NOR LARSEN OIL & GAS…
Analyst coverage Company Research analyst Telephone Website DnBNor Markets Espen Hennie +47 22 48 23 77 dnbnor.no Swedbank First Securities Teodor Nilsen +47 23 23 82 75 first.no Pareto Securities Thomas Aarrestad +47 22 87 87 21…
Investor contacts Per Anders Muri, VP Corporate Communications - Tel: +47 91 11 61 21 - per.anders.murirocksource.com Tommy Sundt, CFO - Tel: +47 90 85 50 00 - tommy.sundtrocksource.com
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