ROCKHOPPER EXPLORATION Acquisition of Mediterranean Oil & Gas Plc 23 May 2014
PROPOSAL TO ACQUIRE MEDITERRANEAN OIL & GAS (MOG) Low cost, value enhancing entry into Mediterranean/North Africa region Acquiring 2P/2C resource base of 32.5 mmboe, increasing Rockhoppers 2P/2C resources by c.23%1 Acquiring…
ESTABLISHES ROCKHOPPER AS FULL CYCLE E&P COMPANY Accretive deal providing established production and revenue o MOG Q1 2014 average net production of approximately 1,650 mscf per day o Potential for production increases through well…
PROPOSED TRANSACTION TERMS Rockhopper to acquire all of the shares of MOG at offer price of 6.50 pence per share (the Initial Consideration) o 4.875 pence per share in cash (22.0 million total) plus 0.017 new Rockhopper share for each…
TRANSACTION TIMETABLE AND CONDITIONS Unanimous recommendation of MOG Directors o Irrevocable undertakings to vote in favour of the Scheme in respect of 31.96% received, including: o Major shareholders (Och-Ziff and Miles Donnelly):…
KEY ASSETS ACQUIRED Production o Guendalina (Northern Adriatic) o Onshore Italy Appraisal/development o Ombrina Mare (Abruzzo) o Northern Adriatic Exploration o Monte Grosso (Italy) o Malta o North Africa 2P Reserves 2C…
KEY PRODUCTION ASSET: Guendalina WI 20% (ENI Operated) Discovered in 1998 the field has been on production since October 2011 with cumulative production to date of over 2.5 bcf (net to MOG) Remaining 2P reserves of 3.7 bcf (net) with…
KEY APPRAISAL / DEVELOPMENT ASSETS: Ombrina Mare (100%) Ombrina Mare is an appraisal / development project in shallow water offshore Italy - 100% MOG operated asset Audited 2C resources of 25.1 mmbbls plus 8 bcf of gas with…
OMBRINA MARE: Technical Details Three wells located on crest of structure: o 2 wells tested before P&A / suspension o Well test at 900 - 1,000 bopd stabilised o 17-19o API o Additional biogenic gas (99% methane) in shallow Pliocene…
KEY EXPLORATION ASSETS: Monte Grosso Prospect WI 22.89% (MOG operated) 22.89% operated interest in the Serra San Bernado exploration permit in the Southern Appennine thrust/fold belt, partnering with ENI and Total Permit contains the…
KEY EXPLORATION ASSETS : Malta Area 4 WI 25% (Genel operated) 25% non operated interest in this 5,700km2 permit where a Production Sharing Contract was signed in July 2008 MOG farmed down 75% of its interest in the Area 4 PSC to…
EXPLORATION ASSETS : Malta Area 4, Hagar Qim Well Well location on newly acquired 3D Prospect located on Medina Bank, in an analogue of Libyan Sirte Basin Well tests 4 way dip closed Eocene numulitic limestone (high energy ramp…
EXPLORATION ASSETS : Malta Area 3 WI 40% (Cairn operated) 40% non operated interest in Offshore Malta Area 3, comprising blocks 1,2,3 where Cairn Energy holds a 60% operated interest. The area is located on the southern margin of a…
REGIONAL FOOTPRINT Acquisition provides a strong operating platform in the Greater Mediterranean and North Africa region Access to low commitment highly prospective exploration acreage with medium to long term portfolio…
ROCKHOPPER SENIOR MANAGEMENT TEAM Strong Regional Experience Paul Culpin Andy Morrison Development Manager Operations Manager Paul has a Civil Engineering degree from Leeds University Andy is a chartered engineer with 46 years…
SUMMARY PURSUING A DISCIPLINED APPROACH TO GROWTH The acquisition of MOG provides Rockhoppers Key deal metrics shareholders with o Access to existing production and revenue Initial acquisition price per share 6.50p o Exposure to…
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