Rocksource Rocksource has been transformed with the discovery of Pil and Bue on PL586, one of the most significant finds on the NCS in recent years Pil and Bue combined gross resources estimated at 95-175 mmboe* High potential 2015…
Table of contents Rocksource at a glance The Pil discovery Portfolio update Financials Summary and outlook Appendix Slide: 4
Rocksource at a glance Exploration company focussing on the Norwegian Continental Shelf (NCS) Holds 15% of PL 586 licence (Pil & Bue discoveries) 95-175 mmboe* discovered resources in Pil & Bue, rated as one of the most significant…
Table of contents Rocksource at a glance The Pil discovery Portfolio update Financials Summary and outlook Appendix Slide: 6
Pil discovery Overview, status and outlook The PL 586 licence: Located in the Norwegian Sea, 30km southwest of Njord. Water depth: +300m Operated by VNG (30%), with Spike (30%), Faroe (25%) and Rocksource (15%) as partners Current…
PL 586 Upside potential Next drilling campaign expected to commence 1H 2015 Partnership have secured two back-to-back well slots on Transocean Arctic Two primary targets with combined unrisked potential in the range 100 to 250…
Pil Rated as one of the most significant NCS discoveries in recent years Slide: 9
Pil Various development options being considered Pil could be developed through a tie-back solution to the Njord facility or, given success in 2015, potentially as a stand alone project Statoil recently launched Project Njord…
Table of contents Rocksource at a glance The Pil discovery Portfolio update Financials Summary and outlook Appendix Slide: 11
North Sea overview Eight North Sea licences offering a mix of lower risk, mature play types and high risk / high reward exposure APA awards January 2013; PL 746 S , PL 509 CS PL 746 S and PL 509S, BS & CS located in the North Sea…
North Sea snapshot: PL 746 S, Hernar Awarded in APA 2013 Key prospect name: Hernar Prospect evaluation on-going Producible hydrocarbons proved and tested (29/3-1) within the licence (Brent Group). Additional volume potential…
Norwegian Sea overview Nine licences including two recent awards from the APA 2013 Licensing Round Pil discovery in PL586, with exciting follow-up potential Multi-prospect licenses adjacent to the Luva, Haklang and Snefrid…
Norwegian Sea snapshot: PL 528, Ivory expected to spud 3Q 2014 Awarded in 20th & 21st Round Multi-prospect licence, gas prone, with DHI support. Adjacent to the Aasta Hansteen field development Partnership: Centrica (40% and…
Barents Sea overview Four licences of which three north east of Skrugard PL 717 & PL 722 awarded in the highly competitive 22nd Round Drilled the Langlitinden discovery in PL 659 in January 2014, evaluation of remaining…
Barents Sea snapshot I: PL 717 Awarded in 22nd Round Located on the western part of the Loppa High, on same geological trend as the Skrugard and Havis discoveries Multi-level prospectivity Partnership: ENI (40% and Operator),…
US GoM: Marketing efforts continue US asset broker continues to market Rocksources GoM leases Discussions with potential counter-parties continue Significant potential combined resource base in AC855 (Rocksource 65%) and Trident…
Table of contents Rocksource at a glance The Pil discovery Portfolio update Financials Summary and outlook Appendix Slide: 19
Financial status Rights Issue (RI) to secure funding for 2014 successfully completed in June 43 MNOK raised, issue was 2.7 times oversubscribed Accompanied by increase in exploration credit facility with SEB Merchant Banking When RI…
Table of contents Rocksource at a glance The Pil discovery Portfolio update Financials Summary and outlook Appendix Slide: 21
Summary: NCS strategy paying off Pil A transformational event for Rocksource 95-175 mmboe* in discovered resources; High potential follow-up drilling campaign planned for 2015, two well slots secured Actively maturing remaining NCS…
Table of contents Rocksource at a glance The Pil discovery Portfolio update Financials Summary and outlook Appendix Slide: 23
Rocksources NCS licence portfolio License Area Equity Operator Award Current Activity Drill-or-drop Well PL 506 S, BS, CS North Sea 25 % Rocksource APA 2008 Post well analysis 3Q 2015 PL 506 DS North Sea 25 % Rocksource APA 2011 Prospect…
Profit and loss statement * NOK '000 1Q 2014 4Q 2013 3Q 2013 2Q 2013 1Q 2013 Operating income 1 290 28 354 7 781 15 743 7 405 Total operating income 1 290 28 354 7 781 15 743 7 405 Other general and administrative expenses (3 204) (5…
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