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The Lancelot Area includes Lancelot, Guinevere, Galahad, Mordred, Malory and Excalibur Fields. The Galahad Field (RockRose – 27.80%) is located to the northeast of the Lancelot and Guinevere Fields.

The Galahad Field is a unitised 30% interest in block 48/12a and 70% interest in block 48/13b, both of which were originally awarded to a Mobil-led group in the Fourth UK Offshore Licensing Round in December 1971.

The Galahad Field was originally discovered by Mobil in 1975. The Galahad Field is located approximately 12 kilometres southwest of the Shell-operated Barque field. An extension of the Galahad Field was discovered in 1982. Two horizontal wells have been used to develop the Galahad reserves and have been in commercial production since 1994.

The Group holds a 27.77% non-operated minority interest in the Galahad Field. Production from the Galahad Field is currently not meaningful in amount, however the Directors believe that the potential exists, with new operator led initiatives, to increase economic viability and delay decommissioning. 42 c113640pu040 Proof 7: 10.1.18_19:49 B/L Revision: 0 Operator CutD It should however be noted that no formal plans are currently in place and the feasibility of any such plans may be subject to oil prices being at a level significantly above current market prices.