Rockhopper Updates Ops at Sea Lion Appraisal

Rockhopper provided the following technical update on its Sea Lion Discovery after further interpretation of the results of well 14/10-4:

• Porosity in 14/10-4 in the range 15%-27%, average 20%
• Net to gross within the pay zone of 88%
• Dual packer modular formation dynamic tester (MDT) results indicated well had the potential to flow at 2,700 bbls per day, compared to c.2,000 bbls per day seen in 14/10-2
• Management interprets new low case area of 22km2 with stock tank oil initially in place (STOIIP) of 516 mmbbls giving 155 mmbbls recoverable at 30% recovery factor
• New seismic depth conversion confirms upper fan full to spill, oil water contact within the upper fan package at 2,477m true vertical depth subsea (TVDSS)
• Analysis of MDT results and logging indicates 14/10-2 and 14/10-4 are in communication.