Half-year Report
Original announcement by lse on
- Company
- Rockhopper Exploration plc
- Ticker
- RKH
- Exchange
- LSE
- Region
- North Falkland Basin
- Primary commodity
- Oil
- Secondary commodities
- None reported
- Document categories
- Resource update, Other
- Extracted
- 2026-09-30 07:05:42 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Rockhopper Exploration plc announced its half-year results for H1 2026, highlighting a significant increase in its Sea Lion oil reserves and resources following an updated independent report. The company reported a US$0.79 billion increase in post-tax NPV10 for its 2P+2C resources, driven by the sanctioning of the NDA 1 project, the acceleration of the Central Development Area (CDA) with the purchase of a second FPSO, and a successful US$200 million capital raise. The company is now fully funded to mid-2028, targeting first oil from NDA 1 in Q1 2028.
Reasoning: Rockhopper Exploration reported a substantial increase in its Sea Lion oil reserves and resources, driven by accelerated development plans and a successful capital raise, positioning the company well for future production and value creation.
Positive factors
- Significant increase in 2P+2C NPV by US$0.79bn
- NDA 1 project sanctioned and fully funded
- FPSO purchased for Central Development Area (CDA) to accelerate development
- Successful US$200 million capital raise, funding to mid-2028
- Extension of offshore hydrocarbons production licences
Negative factors
- Italian disposal still pending regulatory approvals
- Geopolitical risks from Argentine government comments
Facts used in scoring: 35
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The New NSAI Report shows that overall gross reserve and resource volumes have increased compared to the previous evaluation.
Evidence · text
“The New NSAI Report shows that overall gross reserve and resource volumes and Net Present Values have increased when compared with the Company’s previous independent reserve and resource evaluation”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The New NSAI Report shows that overall gross reserve and resource volumes have increased compared to the previous evaluation, leading to higher contained metal.
Evidence · text
“The New NSAI Report shows that overall gross reserve and resource volumes and Net Present Values have increased when compared with the Company’s previous independent reserve and resource evaluation”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The report was prepared by Netherland, Sewell & Associates, Inc (NSAI), an independent reserve and resource evaluator.
Evidence · text
“Netherland, Sewell & Associates, Inc (“NSAI”) prepared new Sea Lion Independent reserve and resource report”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an 'Updated Sea Lion Independent Reserves and Resources Report'.
Evidence · text
“Updated Sea Lion Independent Reserves and Resources Report”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The increase in post-tax Rockhopper NPV10 at the 2P + 2C level from US$2.16bn to US$2.95bn indicates an overall improvement in the confidence and value of the resource base.
Evidence · text
“increase in post-tax Rockhopper NPV 10 of US$0.79bn at the 2P + 2C level from US$2.16bn to US$2.95bn*”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The contingent resources are reported with 'Low Estimate (1C)' which is typically classified as inferred.
Evidence · table
“Low Estimate (1C) MMBBL”
Context: Development Pending
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The contingent resources are reported with 'Best Estimate (2C)' and 'High Estimate (3C)' which are typically classified as indicated.
Evidence · table
“Best Estimate (2C) MMBBL”
Context: Development Pending
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The report includes 'Proved Undeveloped (1P)' reserves.
Evidence · table
“Proved Undeveloped (1P)”
Context: Proved Undeveloped (1P)
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The report includes 'Probable' reserves.
Evidence · table
“Probable”
Context: Probable
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: The resource and reserve report does not disclose any cut-off grades for the oil volumes.
Evidence · text
“A summary of the key information from the New NSAI Report (oil only) is provided below:”
Extracted facts
Stored fact records: 35. Some facts used in scoring do not have a stored record.
Resource Estimates (35)
provenSea Lion field · oilContained Metal: 231.7Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:262c1e51ca142b34d3b8
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Contained Metal
- 231.7
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company reports a substantial volume of proved undeveloped oil reserves, indicating a strong foundation for future production.
Positive factors
- Significant proved undeveloped reserves for the project
Evidence · table
“231.7”
Context: Proved Undeveloped (1P)
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
provenSea Lion field · oilContained Metal: 81.1Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:262c1e51ca142b34d3b8
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- proven
- Contained Metal
- 81.1
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable proved undeveloped reserves are substantial and contribute significantly to the project's overall valuation.
Positive factors
- Significant attributable proved undeveloped reserves
- High NPV10 for this category
Evidence · table
“81.1”
Context: Proved Undeveloped (1P)
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
probableSea Lion field · oilContained Metal: 82.5Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:896c0dffd8a0ea814de4
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Contained Metal
- 82.5
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The reported probable reserves add to the project's total resource base, indicating further potential for development.
Positive factors
- Additional probable reserves contribute to overall resource base
Evidence · table
“82.5”
Context: Probable
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
probableSea Lion field · oilContained Metal: 28.9Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:896c0dffd8a0ea814de4
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Contained Metal
- 28.9
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's share of probable reserves provides additional value and future development potential.
Positive factors
- Attributable probable reserves add to the company's valuation
Evidence · table
“28.9”
Context: Probable
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
probableSea Lion field · oilContained Metal: 314.2Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:896c0dffd8a0ea814de4
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Contained Metal
- 314.2
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The combined proved and probable gross reserves highlight the substantial scale of the Sea Lion project.
Positive factors
- Large 2P gross reserves indicate significant project scale
Evidence · table
“314.2”
Context: Proved + Probable (2P)
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
probableSea Lion field · oilContained Metal: 110Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:896c0dffd8a0ea814de4
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Contained Metal
- 110
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable 2P reserves are a key value driver for the project, supported by a strong NPV10.
Positive factors
- Significant attributable 2P reserves with a high NPV10
Evidence · table
“110.0”
Context: Proved + Probable (2P)
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
NDA Phases 1 and 2Sea Lion field · oilContained Metal: 93.9Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:2da0cb60b6b5c2bb7876
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Contained Metal
- 93.9
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inclusion of possible reserves indicates additional long-term potential, though with lower confidence.
Positive factors
- Additional possible reserves provide further upside potential
Evidence · table
“93.9”
Context: Possible
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
NDA Phases 1 and 2Sea Lion field · oilContained Metal: 32.9Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:2da0cb60b6b5c2bb7876
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Contained Metal
- 32.9
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's share of possible reserves contributes to the overall project value, albeit with higher uncertainty.
Positive factors
- Attributable possible reserves add to the company's future value
Evidence · table
“32.9”
Context: Possible
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
NDA Phases 1 and 2Sea Lion field · oilContained Metal: 408.2Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:2da0cb60b6b5c2bb7876
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Contained Metal
- 408.2
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total 3P gross reserves demonstrate the extensive potential of the Sea Lion project over the long term.
Positive factors
- Very large 3P gross reserves indicate significant long-term potential
Evidence · table
“408.2”
Context: Proved + Probable + Possible (3P)
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
NDA Phases 1 and 2Sea Lion field · oilContained Metal: 142.9Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- reserve
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:2da0cb60b6b5c2bb7876
- Deposit or zone
- NDA Phases 1 and 2
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Contained Metal
- 142.9
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable 3P reserves represent significant long-term value and potential for the project.
Positive factors
- Substantial attributable 3P reserves with a strong NPV10
Evidence · table
“142.9”
Context: Proved + Probable + Possible (3P)
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 264.2Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:9b7feb2bcbbfbd4e581e
- Deposit or zone
- Development Pending
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 264.2
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Large gross contingent resources are identified for development, indicating future growth potential for the project.
Positive factors
- Significant gross contingent resources pending development
Evidence · table
“264.2”
Context: Development Pending
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 461.8Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:646771830fa7ebb39862
- Deposit or zone
- Development Pending
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 461.8
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The best estimate of gross contingent resources for development is significant, providing a strong basis for future planning.
Positive factors
- Substantial gross contingent resources with higher confidence for development
Evidence · table
“461.8”
Context: Development Pending
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 608.4Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:646771830fa7ebb39862
- Deposit or zone
- Development Pending
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 608.4
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The high estimate of gross contingent resources for development suggests considerable upside potential for the project.
Positive factors
- High estimate of gross contingent resources for development indicates significant upside
Evidence · table
“608.4”
Context: Development Pending
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 65.2Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:b6f22bb99e69f331726a
- Deposit or zone
- Development On Hold
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 65.2
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Contingent resources with development on hold represent future potential, but with current uncertainties.
Positive factors
- Additional gross contingent resources identified, albeit with development on hold
Evidence · table
“65.2”
Context: Development On Hold
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 131.3Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:7e1c0795f46b35692b7a
- Deposit or zone
- Development On Hold
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 131.3
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The best estimate of gross contingent resources with development on hold contributes to the project's overall long-term potential.
Positive factors
- Best estimate of gross contingent resources on hold adds to long-term potential
Evidence · table
“131.3”
Context: Development On Hold
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 222.5Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:7e1c0795f46b35692b7a
- Deposit or zone
- Development On Hold
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 222.5
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The high estimate of gross contingent resources with development on hold suggests additional upside potential for the project.
Positive factors
- High estimate of gross contingent resources on hold provides further upside
Evidence · table
“222.5”
Context: Development On Hold
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 11.6Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:7ca73f9bbc1ece296bc3
- Deposit or zone
- Development Not Viable
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 11.6
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: These contingent resources are currently considered not viable for development, limiting their immediate impact.
Negative factors
- Resources currently deemed not viable for development
Evidence · table
“11.6”
Context: Development Not Viable
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 33Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:a4065a7cb2a381b2a37a
- Deposit or zone
- Development Not Viable
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 33
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The best estimate of gross contingent resources currently not viable for development has limited immediate economic impact.
Negative factors
- Resources currently deemed not viable for development
Evidence · table
“33.0”
Context: Development Not Viable
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 95.3Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:a4065a7cb2a381b2a37a
- Deposit or zone
- Development Not Viable
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 95.3
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The high estimate of gross contingent resources currently not viable for development has limited immediate economic impact.
Negative factors
- Resources currently deemed not viable for development
Evidence · table
“95.3”
Context: Development Not Viable
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 341Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:97fa395bbd039a48a2d6
- Deposit or zone
- Total Contingent Resources
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 341
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total low estimate of gross contingent resources indicates substantial overall potential for the project.
Positive factors
- Significant total gross contingent resources identified
Evidence · table
“341.0”
Context: Total
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 626.1Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:e9616882ffdb43b03b69
- Deposit or zone
- Total Contingent Resources
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 626.1
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total best estimate of gross contingent resources is very large, providing a strong basis for future development.
Positive factors
- Very large total gross contingent resources with higher confidence
Evidence · table
“626.1”
Context: Total
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 926.3Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:e9616882ffdb43b03b69
- Deposit or zone
- Total Contingent Resources
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Contained Metal
- 926.3
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total high estimate of gross contingent resources suggests immense upside potential for the project.
Positive factors
- Extremely large total gross contingent resources indicate significant upside potential
Evidence · table
“926.3”
Context: Total
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 92.4Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:9b7feb2bcbbfbd4e581e
- Deposit or zone
- Development Pending
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- inferred
- Contained Metal
- 92.4
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable low estimate of contingent resources for development has a high NPV10, indicating strong future value.
Positive factors
- Significant attributable contingent resources pending development with a strong NPV10
Evidence · table
“92.4”
Context: Development Pending
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 161.6Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:646771830fa7ebb39862
- Deposit or zone
- Development Pending
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 161.6
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable best estimate of contingent resources for development has a very high NPV10, indicating significant future value.
Positive factors
- Substantial attributable contingent resources with high confidence and very strong NPV10
Evidence · table
“161.6”
Context: Development Pending
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 212.9Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:646771830fa7ebb39862
- Deposit or zone
- Development Pending
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 212.9
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable high estimate of contingent resources for development has an extremely high NPV10, indicating substantial future value.
Positive factors
- Very large attributable contingent resources with high confidence and extremely strong NPV10
Evidence · table
“212.9”
Context: Development Pending
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 22.8Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:b6f22bb99e69f331726a
- Deposit or zone
- Development On Hold
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- inferred
- Contained Metal
- 22.8
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable low estimate of contingent resources with development on hold represents future potential.
Positive factors
- Attributable contingent resources identified, though development is on hold
Evidence · table
“22.8”
Context: Development On Hold
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 46Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:7e1c0795f46b35692b7a
- Deposit or zone
- Development On Hold
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 46
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable best estimate of contingent resources with development on hold contributes to long-term potential.
Positive factors
- Attributable contingent resources on hold add to long-term potential
Evidence · table
“46.0”
Context: Development On Hold
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 77.9Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:7e1c0795f46b35692b7a
- Deposit or zone
- Development On Hold
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 77.9
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable high estimate of contingent resources with development on hold suggests additional upside potential.
Positive factors
- High estimate of attributable contingent resources on hold provides further upside
Evidence · table
“77.9”
Context: Development On Hold
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 4.1Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:7ca73f9bbc1ece296bc3
- Deposit or zone
- Development Not Viable
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- inferred
- Contained Metal
- 4.1
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable low estimate of contingent resources currently not viable for development has limited immediate impact.
Negative factors
- Attributable resources currently deemed not viable for development
Evidence · table
“4.1”
Context: Development Not Viable
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 11.5Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:a4065a7cb2a381b2a37a
- Deposit or zone
- Development Not Viable
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 11.5
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable best estimate of contingent resources currently not viable for development has limited immediate impact.
Negative factors
- Attributable resources currently deemed not viable for development
Evidence · table
“11.5”
Context: Development Not Viable
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 33.4Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:a4065a7cb2a381b2a37a
- Deposit or zone
- Development Not Viable
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 33.4
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The company's attributable high estimate of contingent resources currently not viable for development has limited immediate impact.
Negative factors
- Attributable resources currently deemed not viable for development
Evidence · table
“33.4”
Context: Development Not Viable
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
inferredSea Lion field · oilContained Metal: 119.3Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:97fa395bbd039a48a2d6
- Deposit or zone
- Total Contingent Resources
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- inferred
- Contained Metal
- 119.3
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total low estimate of attributable contingent resources indicates substantial overall potential for the company.
Positive factors
- Significant total attributable contingent resources identified
Evidence · table
“119.3”
Context: Total
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 219.1Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:e9616882ffdb43b03b69
- Deposit or zone
- Total Contingent Resources
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 219.1
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total best estimate of attributable contingent resources is very large, providing a strong basis for future development for the company.
Positive factors
- Very large total attributable contingent resources with higher confidence
Evidence · table
“219.1”
Context: Total
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
indicatedSea Lion field · oilContained Metal: 324.2Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:e9616882ffdb43b03b69
- Deposit or zone
- Total Contingent Resources
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- indicated
- Contained Metal
- 324.2
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total high estimate of attributable contingent resources suggests immense upside potential for the company.
Positive factors
- Extremely large total attributable contingent resources indicate significant upside potential
Evidence · table
“324.2”
Context: Total
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
probableSea Lion field · oilContained Metal: 329.1Contained Unit: mmbblView all detailsHide details
Identity
- Project
- Sea Lion field
- Commodity
- oil
- Region
- north falkland basin
- Reported Region
- North Falkland Basin
- Ticker
- RKH
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Resource group id
- resource:adb5842dbc7ee06f1983
- Deposit or zone
- Sea Lion 2P Reserves + 2C Contingent Resources
- Ownership percent
- 35 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Contained Metal
- 329.1
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-07-31
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The combined 2P reserves and 2C contingent resources show a substantial increase in NPV10, indicating a significant enhancement in project value for Rockhopper.
Positive factors
- Significant increase in combined 2P+2C NPV10 by US$0.79bn
- Strong overall valuation for the company's interest
Evidence · text
“increase in post-tax Rockhopper NPV 10 of US$0.79bn at the 2P + 2C level from US$2.16bn to US$2.95bn*”
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.