Rocksource ASA Fourth Quarter 2014 27 February 2015 CEO Terje Arnesen
All set to explore the significant upside in Pil 2014 marked the commercial breakthrough for Rocksource Pil discovered in March, subsequently tested and appraised Current resources range at 79 193 mmboe* 2015 followup programme on…
Table of contents 4Q highlights and financials Portfolio update Summary and outlook Appendix Slide: 4
4Q highlights and subsequent events Gas discovery on Ivory in PL 528 Preliminary volume estimates indicate a resource base below the predrill low case estimate Post well analysis continue Successful awards in the APA 2014…
4Q highlights and subsequent events (continued) Mandatory offer launched by EPSI AS in December 2014 NOK 6.00 per share offer price EPSI AS post offer ownership at 81.7 per cent A new Board of Directors elected at the Extraordinary…
Two North Sea licences awarded in APA 2014 Rocksource was awarded 50% and operatorship in PL 791 in the northern part of the North Sea Partner in the licence is Tullow In PL 784 in the central North Sea Rocksource was awarded…
4Q 2014 drilling: PL 528, Ivory Sub-commercial gas discovery expensed in the quarter Drilling completed in 4Q Preliminary calculations of the size of the discovery indicate between two and eight million standard cubic metres (Sm3)…
PL 586, Pil The core value driver in Rocksource Located 32km southwest of Njord in the Norwegian Sea (water depth of 300m) Rocksource 15%. Operated by VNG (30%), with Spike (30%) and Faroe (25%) as partners Three successful wells…
Material upside potential to be drilled in 2015 2015 drilling campaign to explore the large structure adjacent to existing discoveries Gross unrisked resources of 200 500 mmboe*, Considered medium to low risk* (similar seismic…
Next drill-or-drop PL 746S, Hernar Awarded in APA 2013 Key prospect name: Hernar Producible hydrocarbons proved and tested (29/31) within the licence (Brent Group). Additional volume potential identified in deeper and shallower…
US GoM: Ongoing negotiations Certain progress has been made in the Companys efforts to divest its assets in US GoM Negotiations with potential counterparties continue Significant potential combined resource base in AC855…
Table of contents 4Q highlights and financials Portfolio update Summary and outlook Appendix Slide: 16
Pil Demonstrating the value potential in our business model Value creation PDO Produce + + Commercial discovery - - Licence awards Mature & drill Appraise & define Develop Time Slide: 17
Pil with the potential to more than double in size in 2015 Rocksource net risked resources (mmboe) 80 70 PL 717, PL 746S, & PL 586 60 Followup 20 50 in PL 586 40 30 23 23 20 Pil & Bue 10 20 0 P50 discovered Secured…
Funded at set to embark on high potential 2015 programme Following the Companys commercial breakthrough in 2014, Rocksource is now set to embark on a high potential followup programme for 2015 With the completion of the rights…
Table of contents 4Q highlights and financials Portfolio update Summary and outlook Appendix Slide: 20
Profit and loss statement NOK '000 4Q 2014 3Q 2014 2Q 2014 1Q 2014 4Q 2013 Operating income 4 987 2 815 7 340 1 290 28 354 Total operating income 4 987 2 815 7 340 1 290 28 354 Other general and administrative expenses (4 989) (2…
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