United Oil & Gas Plc · LSE:UOG
United Oil & Gas — Investor Presentation (April 2018)
27 slides from United Oil & Gas's investor presentation, April 2018
Slide 1: Corporate Presentation April 2018
Corporate Presentation April 2018 www.uogplc.com www.uogplc.com
Slide 2: <Blank page> www.uogplc.com
<Blank page> 2 www.uogplc.com
Slide 3: Disclaimer
Disclaimer • The Presentation is being supplied to you solely for your information. The Presentation has been prepared by, and is the sole responsibility of, United Oil & Gas Plc (the “Company”, “UOG”, “United”, or “United Oil & Gas”). The directors of the Company have taken all reasonable care to e
Slide 4: Summary
Summary • Entrepreneurial management: application of strong technical discipline with established links to industry • Strategy focused on value creation: acquisition of assets where near- term activity unlocks untapped value • Significant progress made over the last twelve months: • Low-risk Europea
Slide 5: Portfolio Overview
Portfolio Overview Europe In Europe, United Oil & Gas are aiming to create Strategy value through building an actively managed portfolio of production, development, and low-risk exploration / appraisal assets. In Latin America and Africa, United Oil & Gas are aiming to access opportunities UK SNS: w
Slide 6: United Oil & Gas Overview
United Oil & Gas Overview Company History Strategy April 2015: Group established United Oil & Gas (UOG) was established in 2015, with a August 2016: Acquired PL090 licence, onshore UK strategy to acquire assets where near-term activity could be instigated to unlock previously untapped value March 20
Slide 7: Company Strategy
Company Strategy Building a portfolio of low-risk assets in Europe to underpin the addition of high- impact growth opportunities in Latin America and Africa • The management team at United Oil & Gas has a proven track record of successfully evaluating and recommending farm-in deals, and will activel
Slide 8: Portfolio Overview
Portfolio Overview Strategic Driver Low-Risk, Near-Term Activity High-Impact Growth Location UK & Europe Latin America & Africa Onshore Italy, Podere Gallina Licence Existing Assets Offshore Jamaica, Walton-Morant Licence Onshore UK, PL090 Licence Offshore UK, P1918 Licence Offshore UK, P2264 Licenc
Slide 9: UOG Resources Summary
UOG Resources Summary Gross Unrisked Contingent Resources Net Unrisked Contingent Resources (mmboe) Working (mmboe) Field Interest 1C 2C 3C 1C 2C 3C Selva Field, Italy 1.2 3.1 4.9 20% 0.2 0.6 1.0 Waddock Cross Field, UK 0.4 1.2 4.7 26.25% 0.1 0.3 1.2 Colter, P1918, UK 1.7 4.1 10.1 10% 0.2 0.4 1.0 NB
Slide 10: Asset Summary
Asset Summary www.uogplc.com www.uogplc.com
Slide 11: Podere Gallina Licence, Italy: Podere Maiar Well, Selva Stratigraphic
Podere Gallina Licence, Italy Podere Maiar Well, Selva Stratigraphic Through farming in to the Podere Maiar well, operated by Po Valley Energy (PVE), UOG have acquired a 20% working interest in the Podere Gallina Licence in the Po Valley region of Italy. The well was successfully drilled in December
Slide 12: Podere Maiar-1 Well Summary
Podere Maiar-1 Well Summary PM-1 Well spudded 21/11/17 Excellent quality reservoir: 62m+ thickness of sand with porosities >28%. Rigless well-testing was 41m net pay encountered in 2 separate reservoirs. completed in January ‘18 Well was drilled safely with only very minor time and cost-overruns Sin
Slide 13: Podere Gallina Licence, Italy: Exploration Opportunities
Podere Gallina Licence, Italy Exploration Opportunities Exploration - East Selva Lead Proposed seismic acquisition • The results of the PM-1 well have also helped de-risk a outline (still to be finalised), number of material exploration opportunities in the and possible Exploitation Concession appli
Slide 14: PL090 Licence, UK: Waddock Cross Field
PL090 Licence, UK Waddock Cross Field In September 2016, UOG acquired First Oil’s stake in the PL090 licences. Includes an existing oil-field and access to significant exploration opportunities located right next door to Europe’s largest onshore oil field. Waddock Partner Exploration Waddock Cross F
Slide 15: PL090 Licence, UK: Exploration Opportunities
PL090 Licence, UK Exploration Opportunities Exploration (PL090 ex-Waddock Cross) Partner Exploration • Numerous exploration targets have been PL090 Egdon identified in the licence outwith the Waddock Resources (Op) 42.5% Cross Field United Oil & Gas 19% • Sherwood Sandstone targets are particularly
Slide 16: P1918 Licence, UK: Colter Summary
P1918 Licence, UK Colter Summary In January 2018, UOG acquired a 10% stake in the P1918 licence from Corallian Energy Limited (“Corallian”), with an option to take a further 10% stake before the end of March 2018. The licence includes a discovery in a well-defined structure with significant updip po
Slide 17: P2264 Licence, UK: Acle Summary
P2264 Licence, UK Acle Summary In January 2018, UOG agreed a farm-in option to take 24% in Block 49/29c of the UK Southern North Sea (“SNS”) (Licence P2264). This contains the low-risk, Acle prospect, which sits within the prolific Rotliegend gas play fairway. • Swift Exploration (50%) and Stelinmat
Slide 18: Walton-Morant Licence, Jamaica
Walton-Morant Licence, Jamaica • United Oil & Gas have agreed a deal with Tullow Oil to farm-in to Location Map the Walton-Morant licence, offshore Jamaica, at a 20% equity interest • The Walton-Morant licence extends for over 32,000km2, and with numerous plays and prospects already identified acros
Slide 19: Walton-Morant Licence – North Sea Size Comparison
Walton-Morant Licence – North Sea Size Comparison Walter Morant licence overlain to scale on map of the Moray Firth and Central North Sea Forties Buzzard Everest Nelson 60km 19 www.uogplc.com
Slide 20: Appendix: Additional Technical Slides Walton-Morant Licence, Jamaica
Appendix: Additional Technical Slides Walton-Morant Licence, Jamaica www.uogplc.com www.uogplc.com
Slide 21: Walton-Morant Licence Overview
Walton-Morant Licence Overview Offshore Jamaica is a high-risk / high-reward Frontier Basin Few opportunities exist globally to get into such a large acreage position, with such positive petroleum indications, at such a key stage of an exploration work programme • Although offshore Jamaica is a true
Slide 22: Work Programme and Commercial Summary
Work Programme and Commercial Summary • Tullow have committed to enter the next stage of the licence, which requires the acquisition of 2,000km2 of 3D seismic. • This will be acquired H1 2018, and will be centred on Tullow’s preferred Colibri prospect. The 3D should further de-risk the structural an
Slide 23: Stratigraphy and Play Elements
Stratigraphy and Play Elements Source Rock • Oil-prone source rocks have been identified in the Eocene and in the Cretaceous, with migrant oil identified in onshore wells and outcrop samples, and two positive offshore seep surveys. This provides good evidence of the presence of regional source rocks
Slide 24: Appendix: UOG Trading History and Director CVs
Appendix: UOG Trading History and Director CVs www.uogplc.com www.uogplc.com
Slide 25: Share Price and Trading History
Share Price and Trading History • 31st July 2017, United Oil & Gas was admitted to the London Stock Exchange’s Main Market via an RTO with Senterra Energy Plc Graham Martin appointed Chairman • In conjunction with this, a placing of 120,000,000 shares at 2.5p was completed, Colter Farm-in raising £3
Slide 26: Executive Directors
Executive Directors Chief Executive Officer – Brian Larkin Brian is the founding director of the Group. He is a Qualified Accountant and has an MBA from Dublin City University. He has extensive oil and gas industry experience having worked for both Tullow Oil Plc (“Tullow Oil”) and Providence Resour
Slide 27: Non-Executive Directors
Non-Executive Directors Non-Executive Chairman – Graham Martin Graham is an experienced senior natural resources executive and brings a wealth of international expertise. He is currently a Non-Executive Director at Kenmare Resources plc, one of the leading global producers of titanium minerals and z
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