Savannah Energy Plc · LSE:SAVE
Savannah Energy — FY2020 Earnings Presentation
13 slides from Savannah Energy's earnings presentation, January 2021
Slide 1: FY 2020 Trading Update
FY 2020 Trading Update January 2021
Slide 2: Disclaimer
Disclaimer These presentation materials (the “Presentation Materials”) do not constitute or form any part of any offer or invitation or inducement to sell or issue or purchase or subscribe for any shares in Savannah Energy PLC (“Savannah”) nor shall they or any part of them, or the fact of their dis
Slide 3: Savannah at a glance
Savannah at a glance About Us FY 2020 Unaudited Trading Update Highlights • Leading African-focused British independent energy company • Financial guidance as presented in our 2020 KPI statement significantly exceeded • Future contracted revenues are derived from fixed price long-term gas sales agre
Slide 4: 2020 in review – key metrics moving in the right direction
2020 in review – key metrics moving in the right direction Total Revenues4 (US$m) Cash collections (US$m) Cash balance7 (US$m) Net debt8 (US$m) +23% +11% +121% -16% 235.9 187.4 106.0 192.1 168.8 484.0 408.7 48.1 Pro-forma FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 Pro-forma FY 2019 FY 2020 Leve
Slide 5: Nigerian asset base performance enhancement
Nigerian asset base performance enhancement Total Revenues4 (US$m) Cash collections (US$m) +151% +83% 235.9 187.4 168.8 192.1 128.7 139.5 149.3 108.5 102.4 94.0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Savannah enters exclusive discussions to Savannah enters exclusive discussions to acquire
Slide 6: Nigeria asset overview
Nigeria asset overview Nigerian asset summary Map of Savannah’s South East Nigerian asset base • 80% owner of Accugas - the only significant gas processing and transportation company in South East Nigeria – and interests in two world class gas and oil fields, Uquo and Stubb Creek • Accugas’ assets c
Slide 7: Gas revenue quality − Long dated and backed by guarantees
Gas revenue quality − Long dated and backed by guarantees Contracted cumulative revenues (US$bn) Customers Ibom Power Company Limited Lafarge Africa PLC Calabar Generation Company Limited 4.5 4.0 3.5 Cumulative revenues 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 20
Slide 8: Nigerian gas-to-power − a secular growth opportunity
Nigerian gas-to-power − a secular growth opportunity • The Nigerian gas-to-power market is expected to experience strong Nigerian Gas-to-Power market dynamics underlying secular growth in the coming years as per capita consumption Huge energy demand growth forecast (TWh)15 increases to international
Slide 9: Niger asset base − regional context & activity history
Niger asset base − regional context & activity history CNPC era (2008+) • 110 discoveries from 137 exploration wells (80% success rate) • c.1bn bbls 2P reserve base established • > 30,000km 2D and 13,000km2 3D seismic acquired over the original Agadem PSC • Establishment of major logistics and infra
Slide 10: R3 East proposed early production scheme
R3 East proposed early production scheme R3 East development Phase I – Trucking • Expected to deliver a plateau of c.1,000 bopd+ from initial well testing • Surface processing equipment procured on a rental basis initially • Oil to be trucked c.120km to the Goumeri/Jaouro export station, then piped
Slide 11: Savannah Energy − A compelling investment opportunity
Savannah Energy − A compelling investment opportunity US$4.3bn contracted revenues stream1 17 years of weighted average remaining gas contract life 31 years 2P/2C Reserve and Resource Life index 78% Adjusted EBITDA9 Margin 2.2x consolidated leverage Strong anticipated organic growth Savannah Energy
Slide 12: References
References 1. Remaining life of contract revenues estimated on a maintenance adjusted Take-or-Pay basis including contributions from our 3 customers: Calabar Generation Company Limited (owner of the Calabar power station), Ibom Power Company Limited (owner of the Ibom power station) and the Lafarge
Slide 13: Savannah Energy 40 Bank Street London E14 5NR
Savannah Energy 40 Bank Street London E14 5NR T: +44 (0) 20 3817 9844 ir@savannah-energy.com www.savannah-energy.com