United Oil & Gas Plc · LSE:UOG
United Oil & Gas — Investor Presentation (July 2018)
28 slides from United Oil & Gas's investor presentation, July 2018
Slide 1: Corporate Presentation
Corporate Presentation July 2018 www.uogplc.com
Slide 2: 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 3: Company Overview
Company Overview Chief Executive Officer Brian Larkin www.uogplc.com
Slide 4: Management
Management Entrepreneurial management team with strong technical discipline and established links to industry Brian is the founding director of United Oil and Gas Limited. He is a qualified accountant and has an MBA from Dublin Brian Larkin City University. He has extensive oil and gas industry expe
Slide 5: Overview
Overview London Stock Exchange listed oil and gas exploration and development company Multistage portfolio of low-risk European development and appraisal assets and high-impact exploration in Jamaica Active growth strategy focused on acquiring assets where near-term activity unlocks untapped value N
Slide 6: Company Strategy
Company Strategy Strategy Utilise the team’s experience to identify projects to build a balanced portfolio of assets with the potential to significantly increase shareholder value Europe: Focus on creating value through an actively managed portfolio of production, development and low-risk exploratio
Slide 7: The Oil & Gas Lifecycle: Our Assets
The Oil & Gas Lifecycle: Our Assets EXPLORATION • Jamaica • PL090 • Acle APPRAISAL/ PRODUCTION DISCOVERY • Selva • Crown • Colter DEVELOPMENT • East Selva • Waddock Cross www.uogplc.com 7
Slide 8: 2017/18 Review
2017/18 Review www.uogplc.com
Slide 9: 2017 Highlights
2017 Highlights 31 July 2017: Readmission to Trading plus £3million placing at 2.5p; farm-in to 20% interest into Podere Gallina permit in Po Valley Italy completed 21 November 2017: Spudding of well on Podere Gallina 27 November 2017: Agreement to farm-in to Tullow Jamaica Ltd operated Walton-Moran
Slide 10: 2018 Highlights
2018 Highlights 16 January 2018: Agreement to farm-in to the southern UK oil and gas assets of Corallian Energy Limited 19 January 2018: Strong gas flows on test confirm significant commercial discovery at Podere Gallina 24 January 2018: Option to farm-in to offshore Block 49/29c UK Licence P2264 wh
Slide 11: Operational Update
Operational Update Chief Operating Officer Jonathan Leather www.uogplc.com
Slide 12: Operational Highlights 2017-18
Operational Highlights 2017-18 Portfolio in place to deliver near-term news flow and significant growth opportunities Key Operational Highlights • Successful drilling in Italy • Acquisition of Jamaica’s first 3D seismic survey • Addition of five new licences to the UOG portfolio • Provisional award
Slide 13: Portfolio Overview
Portfolio Overview A portfolio of low-risk European development and UK CNS: appraisal assets and a high-impact exploration project • 30th Licensing Round Award: Crown in Jamaica discovery. Seismic reprocessing Jamaica: • Walton-Morant Licence: 3D seismic acquisition completed over Colibri prospect M
Slide 14: Italy: Podere Gallina Licence (20% WI) Podere Maiar Well, Selva
Italy: Podere Gallina Licence (20% WI) Podere Maiar Well, Selva Stratigraphic Successfully drilled in Dec 2017, the Podere Maiar-1 well encountered gas in clearly commercial volumes Monestirolo Field • Targeted an updip area of the Selva Field Location Map 0.7Bcf Produced Malalbergo Field Bova Disco
Slide 15: Italy: Podere Gallina Licence Exploration Opportunities and 3D Acquisition
Italy: Podere Gallina Licence Exploration Opportunities and 3D Acquisition PM-1 well results have de-risked a number of material exploration opportunities in the Podere Gallina block East Selva Prospect Proposed Production • Same play trend as Minerbio and Selva Concession Outline • Unrisked base-ca
Slide 16: UK Wessex Basin Colter (Licence P1918)
UK Wessex Basin Colter (Licence P1918) Three onshore licences and one offshore licence in the Wessex Basin - an area of strategic interest for UOG containing Europe’s largest onshore oil field (Wytch Farm), which has to date produced in excess of 450mmbbls. Colter (Licence P1918; 10% equity) Wessex
Slide 17: UK Wessex Basin Waddock Cross (PL090) and Exploration Upside
UK Wessex Basin Waddock Cross (PL090) and Exploration Upside Waddock Cross Field Waddock Cross (Licence PL090; 26.25% equity) • Shallow field (~600m subsurface) with a large in-place volume of oil (29 million barrels gross) and unrisked net 2C resources of 320,000bbls (ERCE) • Brought into productio
Slide 18: UK North Sea Crown (30th Licensing Round Award)
UK North Sea Crown (30th Licensing Round Award) Provisionally awarded Blocks 15/18d and 15/19b (Crown Discovery) in the 30 th Licensing Round, and holds an option to take 24% of the low-risk Acle prospect in Block 49/29c of the UK Southern North Sea. UK North Sea • Mature area with great opportuniti
Slide 19: UK North Sea Acle (P2264)
UK North Sea Acle (P2264) North Davy Acle (Licence P2264; option to take 24% equity) • Acle prospect is a clear 2.5km2 4-way dip closure, with further fault-bounded upside. • Targeted reservoir is in the prolific Permian Rotliegend Acle • Structure is in close proximity to a number of producing gas
Slide 20: Walton-Morant Licence, Jamaica
Walton-Morant Licence, Jamaica High-risk / high-reward frontier basin offshore Jamaica offering huge re-rating potential • November 2017 completed a farm-in for 20% equity in the Tullow-operated 32,000km2 Walton-Morant Licence, offshore Location Map Jamaica. Government approval received March 2018.
Slide 21: Walton-Morant Licence, Jamaica
Walton-Morant Licence, Jamaica • Pre-2018 work programme (including 2D acquisition and identification of an offshore oil seep) confirmed the presence of all the elements required for a working petroleum system • Work led to Colibri being identified as a high-grade prospect. This structure is estimat
Slide 22: Walton-Morant Licence – North Sea Size Comparison
Walton-Morant Licence – North Sea Size Comparison Forties Buzzard Everest Nelson Walton-Morant licence overlain to scale on map of the Moray Firth and Central North Sea www.uogplc.com 22
Slide 23: 2018 Operational Lookahead
2018 Operational Lookahead 2017 Q1 Q2 2018 Q3 Q4 2019 Application for Exploitation Licence Italy Drilling decision Waddock Cross well PL090 Colter well P1918 UK P2264 First deadline for additional partners in the Acle well 30th Round Licensing Award Crown Fast-Track PSTM Prelim PSDM Jamaica 2,250km2
Slide 24: Summary and Lookahead
Summary and Lookahead Chief Executive Officer Brian Larkin www.uogplc.com
Slide 25: 2018 Forward Programme: High Impact Newsflow
2018 Forward Programme: High Impact Newsflow Q3/Q4 2018 Drill the Colter Continue to de-risk Commence processing Plan and commence prospect with Waddock Cross in of the first iteration of 3D seismic acquisition Corallian advance of late the Jamaica 3D over the East Selva Energy Limited summer well p
Slide 26: Investment Case
Investment Case • Low-risk European portfolio of development and appraisal / exploration assets has been assembled which underpins a parallel high-impact growth strategy in the Caribbean / South America / Africa • Entrepreneurial management: application of strong technical discipline with establishe
Slide 27: Contacts
Contacts United Oil & Gas Tel: +44 207 539 7272 Optiva Securities Broker Tel: +44 203 137 1902 Kerman & Co LLP Company Solicitors Tel: +44 207 539 7272 Murray Consultants Public Relations Tel: +353 87 6909735 St Brides Partners Financial PR/IR Tel: +44 207 236 1177 www.uogplc.com 27
Slide 28: www.uogplc.com
6 UNITED OIL & GAS www.uogplc.com