Slide 1: Angus Energy plc – Investor Meet Company
Angus Energy plc – Investor Meet Company March 26th 2024
Slide 2: Disclaimer
Disclaimer This document is a confidential investor presentation which has been prepared by, and is the sole responsibility of, the directors of Angus Energy plc (the "Company") and has been prepared in connection with the proposed placing of ordinary shares in the capital of the Company (the "Trans
Slide 3: Agenda
Agenda 1. The Way Forward 2. HSE & Operational Update 3. Refinancing 4. Financial Results 5. Development Plans 6. Strategy and Future Plans 7. Board of Directors 8. Q&A 3 Angus Energy Plc. - Investor Webinar 26th March 2024
Slide 4: The Way Forward: Strong Foundation built for Growth
The Way Forward • Production stabilised • Strong Management Team • Sustainable Balance Sheet • Healthy Reserves • Organic Growth Opportunities • Inorganic Growth Opportunities Strong Foundation built for Growth 4 Angus Energy Plc. - Investor Webinar 26th March 2024
Slide 5: Saltfleetby HSE Update
Saltfleetby HSE Update • For Angus HSE is a paramount objective • No recordable injury since December 2022 • No regulatory breaches YTD • Flare consent limits met with an agenda of reducing emissions on a continuous basis • Noise management program underway with installation of permanent monitoring
Slide 6: Saltfleetby Operations Update
Saltfleetby Operations Update Operations • Forecast Q1 2024 daily sales gas production averaging 6.9 mmscf with stabilised forward production of 7-8 mmscf/d • Equivalent to 6.8-6.9 million therms in the quarter or 2.3 million therms/month – 35% of production unaffected by legacy hedges rising to 45%
Slide 7: Update on Refinancing
Update on Refinancing • £20m debt facility signed with Trafigura in February to refinance existing debt and fund additional capex projects • Five-year amortising term with one year grace period for principal repayment and cash sweep for accelerated repayment • Substantial reduction in interest rate
Slide 8: Financial Results – YE Sept 23
Financial Results – YE Sept 23 • Revenue from oil and gas production of £28.2m (2022: £3.1m) on production of 25,228,853 Therms of sales gas and 32,750 bbls of condensate (2022: 1,273,994 therms of sales gas and 1,378 bbls of condensate) • The Group recorded a profit of £117.8m, which included a der
Slide 9: Saltfleetby Development Plans
Saltfleetby Development Plans Refine reservoir evaluation • Completion of new CPR assessing connected reserves Oct. 2023 • 3D seismic reprocessed and reinterpreted – generating higher resolution top structure map • New Stratigraphic correlation of reservoir units • Revised Petrophysical Evaluation o
Slide 10: Competent Person Report (CPR-2023)
Competent Person Report (CPR- 2023) • The October 2023 CPR for the Saltfleetby field determined the reserves and resources of sales gas and associated liquids (Condensate) for the Saltfleetby field Saltfleetby Field P50 Gross Reserves and 1P 2P 2C Contingent Resource as at August 1, 2023 Sales Gas (
Slide 11: Saltfleetby Structure on top 1d Reservoir
Saltfleetby Structure on top 1d Reservoir Angus Energy Plc. - Investor Webinar 26th March 2024
Slide 12: Saltfleetby Westphalian Reservoir
Saltfleetby Westphalian Reservoir NW S Main 1c/d Reservoir Minimum GWC Areas of unconnected potential upside Angus Energy Plc. - Investor Webinar 26th March 2024
Slide 13: Southern Oil Fields
Southern Oil Fields Angus Energy Plc. - Investor Webinar 26th March 2024
Slide 14: Southern Oil Fields Development Plans
Southern Oil Fields Development Plans Brockham Field • Site being prepared for commencement of the workover to restart production from BRX2Y well • All regulatory approvals in place, long lead items ordered, workover planned May 2024 • Initial production of c.20 bbls/d predicted with potential for c
Slide 15: Strategy and Future Plans
Strategy and Future Plans • With stable production and free cash flow and the refinancing completed, the Company can focus on growth opportunities • Angus has built a world class management team who are committed to increasing shareholder value • Potential for organic growth in production of oil and
Slide 16: Board of Directors
Board of Directors • Interim Chairman: Krzysztof Zielicki • Non-Executive Director: Paul Forrest • Executive Director: Richard Herbert (CEO) • Executive Director: Carlos Fernandes (Finance Director)
Slide 17: Q&A
QA ©) ANGUS ENERGY
Slide 18: Contact
Contact CEO CEO Richard Herbert T: 00 44 7880 Richard 055577 Herbert rherbert@angusenergy.co.uk Via Flagstaff angus@flagstaffcomms.com 18