Prospex Energy PLC · LSE:PXEN
Prospex Energy — Investor Presentation (August 2021)
16 slides from Prospex Energy's investor presentation, August 2021
Slide 1: Prospex Energy plc Corporate Presentation
Prospex Energy plc Corporate Presentation AIM : PXEN August 2021
Slide 2: Disclaimer
DISCLAIMER This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitm
Slide 3: Recent High Impact Developments
RECENT HIGH IMPACT DEVELOPMENTS Background Strategy ►Ongoing production ►Focus on stable markets with infrastructure & ►Significant development upside demand for conventional gas forecasted 2022 ►Supporting EU energy transition & security of ►Presently trading at substantial discount energy supply i
Slide 4: About Prospex
ABOUT PROSPEX AIM listed natural gas production and power generation investment company Spain: Ongoing Production & Power Generation ►3 gas wells supplying gas to an 8.1MW power station ►Planned well interventions to increase gas production ►Permitting underway for near-term multi-well drilling camp
Slide 5: Assets: Italy and Spain
@. nospex ENERGY PLG Assets: Italy and Spain
Slide 6: Italy – Podere Gallina
ITALY – PODERE GALLINA Proven GAS RESERVES in prolific Po Valley region ►Podere Gallina is a 331km2 exploration permit with multiple prospects ►PXEN farmed-in to 17% in October 2017 ►Podere Maiar (PM-1dir) discovery well in December 2017 ►Well tested gas to surface in January 2018 from 2 intervals –
Slide 7: Selva Gas Production
SELVA GAS PRODUCTION STEPS TO GETTING ON PRODUCTION ►Preliminary production concession, approved Feb ’19 ►Technical environmental approval, approved Jan ‘20 & Nov ’20 ►Environment Minister Decree, approved April ‘21 ►INTESA (Intergovernmental agreement) ongoing ►Final Production concession by Econom
Slide 8: El Romeral: Production & Development Project
EL ROMERAL: PRODUCTION & DEVELOPMENT PROJECT HISTORY ►Since 1983, 7 wells drilled resulted in gas discoveries Uceda El Romeral El Romeral-3 ►5 went on production Power Station Aventurado North ►2 proven undeveloped discoveries (PUDs) El Romeral-2 CURRENT El Romeral-1 Santiche Romeral-2 ►Production f
Slide 9: El Romeral: Gas Ready for Development
EL ROMERAL: GAS READY FOR DEVELOPMENT ►VERY LOW RISK Prospective Resources (NSAI-certified 2019) in El Romeral - ready for development ► 11 selected prospect locations, 19 drilling locations, over 3 production 1U 2U 3U PROSPECTIVE RESOURCES (Bcf) licences 45.0 ► 2 PUDs (5 Bcf, 2C resources) 40.0 48
Slide 10: Spain – Tesorillo Project
SPAIN – TESORILLO PROJECT POTENTIAL UNDEVELOPED DISCOVERY ►TEMPORARILY SUSPENDED, awaits Ministry resolution reinstatement as production licence ►Contains the Almarchal-1 gas discovery (1957) ►Operated by Tarba (85% WGO,15% PXEN) PXEN option to increase to 50% LOCATION/RESOURCES ►Cadiz Province, Sou
Slide 11: The Team; Outlook & Objectives
The Team Outlook & Objectives
Slide 12: Outlook for 2021-2022
OUTLOOK FOR 2021-2022 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 PLANNING OF DRILLING CAMPAIGN EL ROMERAL - ACQUISITION GOVERNMENT APPROVAL OF TRANSFER PERMITTING MULTIWELL CAMPAIGN SPAIN INCREASE ELECTRICITY PRODUCTION REVENUES TESORILLO – GEOLOGY + GEOPHYSICS INTEGRATION; FIELDWORK COMPLETION ITALY SELVA – PRODU
Slide 13: Summary
SUMMARY Investment case: Unlocking shareholder value: ►Diversified portfolio assembled ►Secured reserves/commercial revenue generation in 2018 ►Significant step up in production expected in 2022 ►Risk managed ►PXEN trading at substantial discount to Net Asset Value ►Huge potential NPV uplift ►Multip
Slide 14: Reserves and Resources
RESERVES AND RESOURCES Net 2P Reserves Net Contingent Resources Net Prospective Resources Podere Gallina, El Romeral, 0.15 Tarazona, 0.9 33.9 Romeral Prospects, 44.8 Tesorillo 15%, 124.6 North Selva – Romeral-4S, 1.6 Level B, 3.3 5.11 Bcf 7.72 Bcf 494 Bcf Tesorillo 35%, Italy, 4.96 290.64 South Selv
Slide 15: The Team
THE TEAM Mark Routh CEO & Managing Director Mark is a Petroleum Engineer with more than 40 years of experience in the oil & gas industry. He has an MSc in Petroleum Engineering. He spent eight years as CEO/Chairman of AIM listed IOG plc. Founded CH4 Energy in 2002, which was focused on gas in NW Eur
Slide 16: Thank you
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