Executive Summary

Rockhopper Exploration PLC (LON:RKH) is an oil and gas exploration company that has been listed on the AIM of the London Stock Exchange since 2005. The company operates four licences (PL023, 024, 032, 033) in the North Falklands Basin, from which it has identified recoverable oil resources of 4.3bn bbls. Rockhopper also has a farm-in agreement with Desire Petroleum covering an area of 1,200 square km. The company made a loss of $47,610,00 in 2009, although its top eight prospects are reported to contain 1bn barrels of prospective oil, and the projected success rate of its top two prospects, Sea Lion and Ernest, is 23%.

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