Europa Oil & Gas (holdings) Plc · LSE:EOG
Europa Oil & Gas (holdings) — Proactive One2One Investor Forum (September 2024)
17 slides from Europa Oil & Gas (holdings)'s conference presentation, Sep 5, 2024
Slide 1: Europa Oil & Gas
Europa Oil & Gas Proactive One2One Investor Forum 5 September 2024 www.europaoil.com | AIM: EOG | @Europa Oil & Gas plc | @Europaoilandgas
Slide 2: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION The informati
Slide 3: Overview
Overview Europa is building a balanced portfolio of producing, appraisal and exploration assets with minimal emissions within the net zero context Assets throughout the cycle with significant upside and multiple catalysts 1) Gas exploration near existing infrastructure (“ILX”)1 with farm out process
Slide 4: Equatorial Guinea – Low Risk Exploration
Equatorial Guinea – Low Risk Exploration • EOG has a 42.9% interest in Antler Global Limited (“Antler”) • Antler has 80% WI in EG-08 • EG-08 has 3x ILX prospects with 1,477 BCF (Pmean) and a total of 2,116 BCF (Pmean) of prospectivity on the block* • A farm-out process has begun 4 *Announcement date
Slide 5: Local Area Wells: 7 from 8 exploration wells have been discoveries
Local Area Wells 7 from 8 exploration wells have been discoveries 1 0-1 – 26 MMSCF/D & 1270 BCPD 2 0-3 – 30 MMSCF/D & 1540 BCPD 3 I-1 – 34 MMSCF/D & 1088 BCPD 4 I-4 – 36 MMSCF/D & 331 BCPD 5 I-4 – 29 MMSCF/D & 1634 BCPD 6 I-5 – 6250 BOPD & 5.4 MMSCFD 7 0-7 – 2650 BOPD & 4.7 MMSCFD 8 I-8 – 7300 BOPD
Slide 6: Volumetrics & Risk to Commercialisation
Volumetrics & Risk to Commercialisation Total Pmean mid-case Prospective Resource = 2,116 BCFE • All figures in BCFE (billion cubic feet equivalent) • EOG internal figures Announcement dated 22 July 2024 Chance of Economic Success • The COS for each prospect is assumed to (EOG internal numbers) be 7
Slide 7: EG-08 Summary
EG-08 Summary • High quality, low risk and potentially high reward gas ILX opportunity • Prospects are straightforward to drill. Apx 2,800m deep and in shallow water (jack up territory) • High quality 3D data – allows better quantification of AVO anomalies • Low development costs – near field tie ba
Slide 8: Ireland Overview
Ireland Overview • FEL 4/19 is operated by Europa Oil and Gas with 100% equity • 1 Large Corrib lookalike structure: Inishkea West • A third of Ireland’s overall energy needs, and over half its electricity, comes from natural gas (Source: www.gov.ie) • Corrib provides c.30% of Ireland’s annual gas d
Slide 9: Ireland Summary
Ireland Summary • Europa Oil & Gas has a 100% operated interest in FEL 4/19 • Europa is seeking a carry on the drilling of the Inishkea West prospects plus back-costs • One main prospect considered low-risk within the same world-class Triassic gas play as the Corrib and Morecambe Bay gas fields • La
Slide 10: Cloughton – PEDL 343
Cloughton – PEDL 343 • Discovered in 1986 Cloughton-2 • Carboniferous sandstones with excellent salt seal • Simple 4-way anticline • Flowed up to 28,000 scft/d • Flow potential 6 mmscf/d1 • GIIP Pmean 192 bcf1 • Pad location identified, HOT agreed • Planning and Environmental processes initiated • P
Slide 11: Cloughton – Well Objective
Cloughton 2 – Well Objective • Cloughton-2 will be a directional well (1.6km step out) • Ideally each of the stacked targets would be intersected with a vertical well bore • Penetrate the Carboniferous target, formation evaluation through wireline logging and coring • Suspend well for future re-entr
Slide 12: Onshore Production – Key Cash Generator
Onshore Production – Key Cash Generator Cloughton • Wressle has one of the highest production rates in the UK PEDL343 onshore • Gross revenue from Wressle of US$50m since August 2021 Crosby Warren (net c.$15m to EOG)1 DL001 • Wressle gas solution and subsequent additional revenues: Wressle Phase 1 o
Slide 13: Wressle: Further Development
Crosby Wressle: Further Warren-1 PEDL 182 Broughton North Prospect2 Development Crosby Warren East Penistone Flags – 0.3mmbbls 0 km 2 Ashover Grit – 0.3mmbbls Broughton North Wressle-1 Pad Europa 100% Broughton-1 Egdon 30% Europa 30% Union Jack 40% Wressle-1 Egdon 30% PEDL 180 Downhole Europa 30% Un
Slide 14: Wressle Development
Wressle Development • Drill two new production wells, drilled back to back • First well to target Penistone Flags • Gas exported to local gas network 600m from site • Existing site to be extended 50m • Install gas processing equipment • Planning approval expected Q3 2024 • Site upgrade will allow dr
Slide 15: New Ventures
New Ventures • Value driven • Target the best deals for EOG ▪ Opportunity cost in both staff time (G&A) and EOG financial resources • New opportunities measured against: ▪ Strategic fit to EOG portfolio ▪ Match to EOG core skillset ▪ Materiality – significantly move EOG valuation ▪ Risk – acceptable
Slide 16: ESG Credentials
ESG Credentials Europa is working to contribute to local energy security and the global transition to a low carbon economy while delivering value to all stakeholders With a goal of going beyond the necessary ESG-related requirements, the Europa Board ESG Committee initiated a project in Q3 2022 to r
Slide 17: Questions?
Questions? Alen Production Facilities – First Gas July 2013 www.europaoil.com | AIM: EOG | @Europa Oil & Gas plc | @Europaoilandgas
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