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Capital Markets Day – Rockhopper Exploration

Rockhopper Exploration · Mar 1, 2015 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Capital Markets Day – Rockhopper Exploration – slide 1
    ROCKHOPPER EXPLORATION North Falkland Basin (NFB) Explora5on Capital Markets Day March 2015 1
  2. Capital Markets Day – Rockhopper Exploration – slide 2
    GREATER MEDITERANEAN OVERVIEW Rockhopper Overview 3
  3. Capital Markets Day – Rockhopper Exploration – slide 3
    Rockhopper Corporate Overview Our strategy is to create value through building a well-funded, full-cycle, explora5on led E&P company We aim to do this by: Maintaining balance sheet strength and exibility Building a…
  4. Capital Markets Day – Rockhopper Exploration – slide 4
    Rockhopper Key Metrics Reserves 2P 1mmboe Con5ngent Resources 2C 182mmboe Prospec5ve Resources P2 622mmboe Financial data Cash c.200 million* Debt 0 million Shares in issue 293 million Market cap at 65p 295…
  5. Capital Markets Day – Rockhopper Exploration – slide 5
    Indica7ve Ac7vity Schedule 6
  6. Capital Markets Day – Rockhopper Exploration – slide 6
    GREATER MEDITERANEAN OVERVIEW Sea Lion 7
  7. Capital Markets Day – Rockhopper Exploration – slide 7
    Sea Lion pre FID work con7nues 70mm JV pre FID spend 2015 Target FEED award Q2 2015 Target sanc7on H1 2016 14 development wells Low cost phased FPSO solu7on 8 producers 5 water injectors 1.8bn to rst oil (at Nov…
  8. Capital Markets Day – Rockhopper Exploration – slide 8
    GREATER MEDITERANEAN OVERVIEW 2010-2012 campaign review Rockhopper track record Basin knowledge 9
  9. Capital Markets Day – Rockhopper Exploration – slide 9
    North Falkland Basin 2010-2012 campaign results Discovered & appraised Sea Lion Signicant oil discovery Discovered the satellite elds Casper, Casper South, Beverley Total gross discovered resources c 400mmbbls recoverable…
  10. Capital Markets Day – Rockhopper Exploration – slide 10
    2010-11 Rockhopper Operated Campaign 10 wells 400mmbbls rec. oil Zero environmental 2 DSTs Opened a new hydrocarbon province 1.8 Tcf gas incidents 2x 3D vessels 11
  11. Capital Markets Day – Rockhopper Exploration – slide 11
    Subsurface Data and Analysis Unique knowledge of Sea Lion sub surface Appraisal Campaign Overview Loca5on Exploration well 8 km north of 14/10-2, penetrating northern SL30 14/10-3 fan good reservoir section sealed from main…
  12. Capital Markets Day – Rockhopper Exploration – slide 12
    Amended well design, post well 14/10-6 RKH amended well design cost & schedule improvement Ini5al Well Design Progressed Well Design 30 x 20 TOC to 30 x 20 TOC to seabed (ROV observed) seabed (ROV observed) 30 x 20 30 x 20…
  13. Capital Markets Day – Rockhopper Exploration – slide 13
    2010-2012 Rockhopper opera7onal performance Ave spud to TD 7me post 14/10-6 : 13 days Total Metres drilled : 26,573m Total core cut : 455m Ave materials consumed / well : 865 tons Average well cost : c.30M 14
  14. Capital Markets Day – Rockhopper Exploration – slide 14
    GREATER MEDITERANEAN OVERVIEW NFB geological seang 15
  15. Capital Markets Day – Rockhopper Exploration – slide 15
    Sea Lion Depositional Setting - A reminder North-south trending Atlan7c failed rio lled primarily by Early Cretaceous to Ter7ary sediments Typical half graben structure with a large (5,000m) eastern bounding fault Sea Lion…
  16. Capital Markets Day – Rockhopper Exploration – slide 16
    SEA LION FAN COMPLEX DEPOSITIONAL SCHEMATIC CHATHAM JAYNE E. ZEBEDEE ISOBEL DEEP Isobel Deep Jayne East Elaine North Elaine South Catriona Chatham Emily/Lydia SL30 SL20 / SL10 Casper Casper…
  17. Capital Markets Day – Rockhopper Exploration – slide 17
    SEA LION FAN COMPLEX DEPOSITIONAL SCHEMATIC 18
  18. Capital Markets Day – Rockhopper Exploration – slide 18
    Sea Lion fans and exploration targets North 14/10-3 14/10-4 14/10-9 14/15-4a Zebedee (proposed) South E1 E3 Beverley SL30 SL20 Casper South Casper B30 SL20 3D1 SL10 Kermit Full stack volume Jackie…
  19. Capital Markets Day – Rockhopper Exploration – slide 19
    GREATER MEDITERANEAN OVERVIEW 2015 campaign 20
  20. Capital Markets Day – Rockhopper Exploration – slide 20
    2015 campaign 4 wells Low to medium risk Exploration & High impact Appraisal 2015 Pmean Low cost 160mmbbls c. 6mm Net to RKH per well 21
  21. Capital Markets Day – Rockhopper Exploration – slide 21
    Falklands GREATER M 2015 Explora7on OCVERVIEW EDITERANEAN ampaign Start Up Pictures from Premier Oil 22
  22. Capital Markets Day – Rockhopper Exploration – slide 22
    2015 Explora7on & Appraisal Explora5on Appraisal 15% 15% 20% 50% Gross Pmean (complex) : Pmean : Pmean : Pmean : prospec7ve resources 510 mmbbls 282 mmbbls 87 mmbbls 127 mmbbls 23
  23. Capital Markets Day – Rockhopper Exploration – slide 23
    2015 DRILLING SCHEDULE Gross P90 53 91 21 802 prospec7ve Pmean 282 72 87 127 510 resources P10 741 207 214 1424 Equity 24% 24% 24% 40% 24% Net P90 13 2 5 19 prospec7ve Pmean 68 17 21 51 122 resources P10 178 50 51…
  24. Capital Markets Day – Rockhopper Exploration – slide 24
    PL004b Zebedee, RKH 24% WI Near eld low risk, high resource explora7on well, 3.4km from 14/15-4 7 stacked targets with varying GCoS of 9-52% Risking lowest for F2 Zebedee fan Net prospec7ve Pmean resource 68mmbbls (range…
  25. Capital Markets Day – Rockhopper Exploration – slide 25
    PL04a Isobel Deep, RKH WI 24% High impact moderate risk (GCoS 20%) explora7on well with poten7al to open new Isobel / Elaine development area (32km from 14/15-4) First test of F3 fan system entering basin from the south-east…
  26. Capital Markets Day – Rockhopper Exploration – slide 26
    PL04c Jayne East, RKH 24% WI Test proven reservoirs of Beverley and Casper South on the eastern ank of syncline Total of 5 reservoirs targeted in loca7on proximal to sediment source Excellent reservoir quality an7cipated in F2…
  27. Capital Markets Day – Rockhopper Exploration – slide 27
    PL032 Chatham, RKH WI 40% Well will conrm presence or absence of non-equilibrium gas cap on western ank of Sea Lion 50% chance of gas cap being absent and oil lled, adding c.65mmbbls to Sea Lion resources Deeper Chatham…
  28. Capital Markets Day – Rockhopper Exploration – slide 28
    Explora7on & Impact on Sea Lion Development Phases Phase 1a development concept is independent of outcome of 2015 explora7on programme Phase 1b has poten7al upside in PL032 in event that Chatham / gas cap well is successful…
  29. Capital Markets Day – Rockhopper Exploration – slide 29
    GREATER MEDITERANEAN OVERVIEW NFB Explora5on Costs 30
  30. Capital Markets Day – Rockhopper Exploration – slide 30
    Funding Update Cash at 31st December 2014 c.200 million (unaudited) NFB well cost es7mated at 50 million gross per well Total net cost to RKH for all four NFB wells c.25 million (aoer carries), c 6 million per well 48 million…
  31. Capital Markets Day – Rockhopper Exploration – slide 31
    GREATER MEDITERANEAN OVERVIEW Summary 32
  32. Capital Markets Day – Rockhopper Exploration – slide 32
    Summary Well placed for 2015 and beyond High impact 4 well campaign in the NFB 2 explora7on wells, 2 combined appraisal/explora7on Poten7al to double resources Total es7mated cost to RKH c.25 million, c. 6 million per…
  33. Capital Markets Day – Rockhopper Exploration – slide 33
    Board of Directors DR. PIERRE JUNGELS, CBE - Chairman SAM MOODY - Chief Execu5ve Ocer PhD in Geophysics & Hydraulics from California Co-founder of Rockhopper Explora7on. Previously at Ins7tute of Technology. Previously worked at…

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