1www.rosepetroleum.com

March2019

OnshoreUSOil&Gas

UKInvestorShow2019

2www.rosepetroleum.com

  Theinformationcontainedinthispresentation(the"Presentation")hasbeenpreparedbyandisthesoleresponsibilityofthedirectorsofRosePetroleumPLC(the"Company").ThisPresentationisnotintendedtobe,andshouldnotbeconstruedas,anyadviceonthemeritsof,oranyrecommendationtoanyrecipientorreaderofthisdocumentinrelationto,thepurchaseofsecuritiesintheCompany,orafinancialinterestintheprojectofthecompany,Recipientsandreadersofthisdocumentshouldseektheirownindependentlegal,investmentandtaxadviceastheyseefit.

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Disclaimer

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Gunnison Valley Unit, Paradox Basin, Utah

•  SignificantAcreageposition

•  Provenoilfill:Ubiquitousmoveable,oilfilledreservoirsacrosstheacreageinprimarytargetreservoir“Clastic21”

•  Overpressured:Drivesinitialproductionratesupto1,600boepd

•  Stackedpayopportunity:6potentialreservoirs

•  Provenproduction:Verticalwell28-11provesproductivefracturesinprimarytarget,Clastic21,withinthe3Darea

•  Provencommercialanalogue:CaneCreekField(c.12milessouth)successfullydevelopedinthenaturallyfracturedClastic21andClastic19

•  Keyde-riskingcomplete:Highquality3DseismicallowsRosetolocatetargetlocations-GaffneyCline&Assoc.CPR&Schlumbergerfracturecharacteristicsstudy

•  Drill-readytoprovecommercialityandbegindevelopment–localinfrastructureavailable

Oil

GrandCounty

28-11Provenproduction

Oil

3DArea GVUboundary

GVU22-1

AdditionalacreagetobeincludedinUnit

KeyHighlights

AcreageacquiredinDec2018

Oil

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Gunnison Valley Project Summary

•  Earning75%workinginterest(“WI”)withinc.80,000acresinParadoxBasin,Utah•  Earn-inincludesonewellwith25%carry•  Highfold/wideazimuth3Dseismicacquiredoverc.17,250acres•  Circa50,000acresheldwithinGunnisonValleyUnit(GVU)

•  ExperiencedOperationsteaminplace•  ProvenexperienceinnearbyCaneCreekField(CCF)analogue•  Teamdesigned9-wellprogrammeforFidelityExploration&Production•  Grewproductionfrom100to3,500bopdin18monthsatCCF•  IPratesupto1,600boepd

•  GaffneyCline(GCA)CPRestimates2CContingentResourcesnettoRosewithin3Dseismicarea(17,250acresonly;c.22%oftotalacreage):•  Resources: 12.33mmboe(75%oil&25%gas)•  Valuation: US$86.9mNPV10(Post-FederalIncomeTax)

•  CostofGV22-1estimatedasUS$6.5m(dryhole)withafurtherUS$1.2mtobringthewellintoproductiononasuccesscase•  TargetingEURofc.0.85mmboe•  Onsuccess,Roseplanstorecyclecashflowtodrilltheidentifiedfollow-on

locations•  RosehasprogressedLandandOperationsprogramme

•  Unitre-shapeagreedwithUtahregulator,BureauofLandManagement•  DrillingPermitgrantedforfirstwellwithinGVU(GVU22-1)•  ThreefurtherAPDsinprocess(GVU29-1,State16-2L,GVU11-1)

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Proven production analogue

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•  TheGVUlies12milesnorthoftheproductiveCaneCreekField•  Similardepth,structuraltrendandreservoir

•  Targetreservoirclastic21hasprovenproductionwithinarea•  8mmboeproducedtodatefromCaneCreekField•  90dayIPratesupto1,600boepd

•  GVU3Dareaalsobenefitsfromseismictowelltiese.g.tothenearby

verticalproductionwell28-11

•  Clastic21productionfromthevertical28-11welltotalsc.140,000boesince2008.•  Midcaseproductivitywhencomparedtotherangeofproductive

verticalwellsattheCaneCreekField

28-11

GVU

CaneCreekField

(ModifiedfromMorgan&Stimpson2018)

•  RosewellGVU22-1firstinapilotprogrammetoprove:•  TheviabilityoftheClastic21reservoirwithintheGVU•  Thepredictivemodel(wellsuccessrate)•  Predictivemodelapplicationtoshallowerzones•  Potentialtoprove3-5mmboenetreserves

6www.rosepetroleum.com

Cane Creek Field Analogue, Paradox Basin

• CaneCreekFieldoilproducer:•  >1mmboeproduction•  90dayIP:1,600boepd

• Analogy:Clastic21structuralcharacter•  Elongate,compressionalfeatures,oftenassociatedwithminorthrustfaults

•  Presenceofthe‘curvature’seismicattributealongthewelltrack

• SimilarfeaturesthroughoutGVU• Complexstructurescreatefractureporosityandpermeability–drivingwellproductivity

ElongateCompressionalfeature

ElongateCompressionalfeature

ThrusFaultThrustfault

CurvatureCurvature

PresentedwithpermissionfromWescoOperatingInc.

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Structural interpretn

• FirstclearimageofParadoxformationinternalstructure

•  ImprovedimagevsCaneCreekFieldseismicdata

• Severalfoldgeometrytypes

• Multipletargetlevels

• Foldedstructureshostfractureswhichdriveproductivity

W E

GVU Unique Seismic Imaging – Paradox formation

Parado

xFm

3Dseismicsupportsmoreefficientwelltargetingofdrillingwithhigherlikelyproductivity

8www.rosepetroleum.com

Cane Creek Field comparison with GVU

CaneCreekExperience Learning/advantageonGVUWellSuccessRateInitialdrillprogramhadhighsuccessrate-first7wellsweresuccessful•  Desiretoproveanunconventionalplaypusheddrilling

awayfromthesuccessfulgeologicplay•  Marketdrivenpushtoincreaseproductionforcedpoor

welllocationstobedrilledleadingtoover1:2success

FocusonthegeologicplayandtargetnaturalfracturesthathavedemonstrablydeliveredcommercialproductionatCaneCreek.Considernewmethodsforhydraulicfracturing:•  upsidepotentialoncethegeologicplayisestablished•  or,asapossiblemitigationifthegeologicplayissub

commercial.

Wellcontrol Drillingtheover-pressuredParadoxformationcausedmultiplewellcontrolincidents.Thisincreasedwellcostandwellcostuncertainty.

GVU3Dseismicdataallowsforbetterpredictionofoverpressuredzones.WhenthisiscombinedwithlessonslearnedintheuseofManagedPressureWhilstDrilling,wellcostandcostuncertaintyshouldbereduced.

PermitApprovalIndefinitedelaysinpermitting(>12months)resultedinsub-optimaltargetsbeingdrilled.Particularlywhencombinedwiththepushtoincreaseproduction.

PermittingregimechangedandBLMrequiredtoturnarounddrillingpermitswithin30daysforwellsRoseproposestodrill

RoseissetuptodeliverabetterwellsuccessrateandoperationalcontrolthanCaneCreekfield

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GVU Contingent Resources

CaneCreekTypeCurve•  SuccesscasewellsatCaneCreekField•  AverageEUR:550kbo+1.8BCF•  Highlyproductivedueto:

•  Fracturepermeability,•  Extensivefractureconnectedvolume•  Overpressure

•  AllconditionswhichcanbeexpectedatGVU

GVUContingentResourceanalysis•  GCAonlyconsidersCaneCreekprimaryreservoir(Clastic21)

withinthe3Dboundary•  Substantialrangeinrecoverableresources•  HCIIPandwelldensitymodelmatch•  BaseCase:20.8mmboegross2Cresources•  EUR0.85mmboe/well

CaneCreekDeclineAnalysis GVUdeclineanalysis

CaneCreekFieldanalogueprovidesstrongdatabasetoestimatelikelytypecurvesforGVUwells

10www.rosepetroleum.com

GVUstackedplaypotential

• TheCompanyhasidentified6potentialproductivehorizonswithintheParadoxFormation•  ThrustDominated:Clastic21&C18/C19•  FoldDominated:C7-C9,&C4

• Thesewereselectedbasedonthepresenceofthick,brittleclasticrocks(dolomitisedsilts/sands)interbeddedwithorganicrichshalesandconfinedtopandbottombyimpermeablesalt•  TheCompanyalsohighgradedtheintervalsbasedonshowdatafromnearbyverticalwells

• TheCompanyhasalsosplittheGVUareasintotwo:•  Coveredby3D•  GreaterGVU-Notyetcoveredby3Dseismic

10

Stacked Play Potential

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Clastic 18/19 – Clastic 21 Follow On C18/19Clastic•  SimilarlithologytotheClastic21–thinnerreservoir•  Similarstructuralstyleandcurvaturedistribution•  Strong hydrocarbon shows in nearby vertical wells (3-4

milesNWoftheGVU3D)•  26-43D&36-11•  32-42 oil production (~1300bo) prior to casing

collapse•  ProductiveattheCaneCreekField

TopC-19Map

C-19Curvature*RoseInternalestimates

12www.rosepetroleum.com

GVU Summary • Significantacreagepositionwithhighquality3Dseismicdata

• FirstwellGV22-1expectedtogeneratecashandunlockthe“code”totheBasin•  Excellentquality3DseismicData–Neveravailablebefore

•  OperationsTeamwithextensiveexperienceinBasin

•  Highlyproductiveanaloguereservoir

• Once“factorymodel”proven,acreageprovidesRose&investorsahighqualityinventoryoftargetstoreinvestcashflow

Source:GaffneyCline&Associates

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Contact us

RosePetroleumplc

MatthewIdiens(CEO)

GregorMaxwell(HeadofOperations)

FirstFloorNewmarketHouseMarketStreetNewburyBerkshireRG145DP

UnitedKingdom

+44(0)2072254595

www.rosepetroleum.com