Union Jack Oil PLC · LSE:UJO
Union Jack Oil — Investor Presentation (March 2019)
21 slides from Union Jack Oil's investor presentation, March 2019
Slide 1: Investor Presentation
UNION JACK OIL plc AIM: UJO Investor Presentation March 2019 • West Newton major gas discovery (16.665%) - appraisal drilling imminent • Wressle oil and gas discovery (27.5%) - oil and gas development undergoing planning appeal • Significant value potential across a balanced, low-risk, low-cost onsh
Slide 2: Disclaimer
Disclaimer Information contained in these slides and this presentation is confidential and is being supplied to you by Union Jack Oil plc (the “Company”) solely for your information in connection with the Placing (as such terms are depicted below) and may not be reproduced or redistributed in whole
Slide 3: Union Jack Investment Summary
Union Jack Investment Summary • Low-risk onshore strategy focused on drill-ready projects and value creation • Balanced portfolio: production, development, appraisal and exploration • Portfolio activity generates near-term news flow and value drivers • Positioned to deliver growth: in reserves, prod
Slide 4: Union Jack's Conventional Onshore Focus – balanced portfolio
Union Jack’s Conventional Onshore Focus – balanced portfolio • Located in two established onshore basins: the East Midlands Province and the Weald Basin • Assembled a balanced portfolio of 14 licence interests – production, development and exploration interests – low-risk and low-cost onshore strate
Slide 5: Near-term News Flow and Value Drivers
Near-term News Flow and Value Drivers – active in material projects West Newton discovery (16.665%): PEDL183 - major gas development opportunity • Appraising a major onshore gas discovery with an imminent appraisal well • Drill-site completed, conductor pipe set, rig awaited • Best Estimate 186 BCF
Slide 6: PEDL183 – West Newton a major gas discovery
PEDL183 – West Newton a major gas discovery PEDL183 West Newton Gas Discovery 16.665% Interest 10km Discovery Oil Field/Discovery Prospect 6
Slide 7: West Newton-2 Appraisal Well – fully approved and drilling imminent
West Newton-2 Appraisal Well – fully approved and drilling imminent • West Newton A-1 onshore conventional gas discovery is a significant undeveloped gas project – Mean contingent gas resources in-place of 214 Bcfe – Only includes Kirkham Abbey reservoir – CPR also identified additional extensive re
Slide 8: Onshore Gas Discovery – proximity to markets, existing pipelines and infrastructure
Onshore Gas Discovery – proximity to markets, existing pipelines and infrastructure 8
Slide 9: Onshore Gas Discovery – numerous marketing and sale options
Onshore Gas Discovery – numerous marketing and sale options Natural Gas Power Stations • Two major UK gas terminals located on licence • PEDL183 is in close proximity to gas-fired electric – Dimlington (Perenco operated) generation facilities with a combined generation capacity of over 4,700MW of po
Slide 10: Setting Conductor Pipe at West Newton-2 Site
Setting Conductor Pipe at West Newton-2 Site 10
Slide 11: West Newton Gas Discovery – Kirkham Abbey Shoal assigned Contingent Resources
West Newton Gas Discovery – Kirkham Abbey Shoal assigned Contingent Resources Low Best* High Mean Total Contingent Resource 15.9 31.5 62.6 36.4 (MMboe) * The Kirkham Abbey Shoal has a combined geological and commercial Probability of Success of 60% * The Kirkham Abbey “Slope Deposit” represents an a
Slide 12: West Newton-2 Appraisal Well – the deeper Cadeby Reef oil prospect
West Newton-2 Appraisal Well – the deeper Cadeby Reef oil prospect is a material target Low Best* High Mean Total Prospective Resource 42.8 79.1 146.0 88.6 (MMboe) * The Cadeby Reef and the Slope Deposit both have a geological Chance of Success of 26% * The Cadeby “Slope Deposit” represents an addit
Slide 13: West Newton Gas Project – a compelling project technically and financially
West Newton Gas Project – a compelling project technically and financially • A large onshore gas discovery with proximity to existing gas pipelines and infrastructure • Compelling economic value from the gas discovery’s contingent resources alone – Operator’s evaluation of Kirkham Abbey gas only: 52
Slide 14: PEDL180 / PEDL182 Wressle Oil Discovery
PEDL180 / PEDL182 Wressle Oil Discovery – project expected to produce 500 bopd oil gross PEDL182 Broughton North Prospect 27.5% Interest PEDL180 PEDL182 Wressle Discovery 27.5% Interest 10km Gas Field Oil Field/Discovery Prospect 14
Slide 15: Wressle-1 Discovery well – Reserves, Contingent Resources and composite well log
Wressle-1 Discovery well – Reserves, Contingent Resources and composite well log Gross Volumes Oil Gas Oil Equiv PENISTONE FLAGS MMstb bcf MMboe 15.9 metre pay 2P Ashover Grit and DST 89 bopd, 35° API Wingfield Flags 0.62 0.20 0.65 and 1.7 mmcfd EWT 180 bopd 2C Penistone Flags 1.53 2.00 1.86 Brought
Slide 16: Wressle Reserves and Initial Development Plan
Wressle Reserves and Initial Development Plan – estimated 500 bopd gross and significant cash flow • Gross P Mean Oil Initially In Place (“OIIP”) is 14.18* MMbbl – In aggregate across three reservoir sands: Ashover Grit, Wingfield Flags and Penistone Flags – 2.15* MM bbl are potentially recoverable
Slide 17: Wressle Contingent Resources – substantial upside in 2C Contingent Resources
Wressle Contingent Resources – substantial upside in 2C Contingent Resources • Substantial additional upside in 2C Contingent Resources in the Penistone Flags reservoir – Over and above the Reserves identified in the Ashover Grit and Wingfield Flags reservoirs • Penistone Flags has 2C* oil and gas C
Slide 18: Union Jack Oil Investment Overview
Union Jack Oil Investment Overview • Low-risk onshore strategy focused on drill-ready projects and value creation • Balanced portfolio: production, development, appraisal and exploration • Portfolio activity generates near-term news flow and value drivers • A successful West Newton-2 appraisal would
Slide 19: Union Jack Board – experienced corporate, commercial and technical team
Union Jack Board – experienced corporate, commercial and technical team David Bramhill, Executive Chairman David has over forty years of experience in the natural resources industry. He has consulted for several companies including; Shell, Petrofina, British Petroleum, Premier Oil and Saxon Oil via
Slide 20: Glossary
Glossary 3D Seismic M / Mbbl / Mboe A set of numerous closely-spaced seismic lines that provide a high Thousand (1x103) / thousand barrels of oil / thousand barrels of oil spatially sampled measure of subsurface reflectivity equivalent B/ Bcf mcfd Billion (1x109) / billion cubic feet of gas Thousand
Slide 21: 6 Charlotte Street Bath BA1 2NE
6 Charlotte Street Bath BA1 2NE England Telephone: + 44 (0) 1225 428139 Facsimile: + 44 (0) 1225 428140 Email: info@unionjackoil.com Website: www.unionjackoil.com