Angus Energy Plc · LSE:ANGS
Angus Energy — Merger or Acquisition (January 2018)
12 slides from Angus Energy's merger presentation, January 2018
Slide 1: Balcombe Partnership (PEDL 244)
Balcombe Partnership (PEDL 244) JANUARY 2018 < 1 >
Slide 2: Disclaimer
DISCLAIMER The information contained in these slides has been prepared by, and is the sole responsibility of, Angus Energy Plc (the Company) in connection with the acquisition of an interest in PEDL 244, as described herein. The information in these slides is subject to updating, completion, revisio
Slide 3: Deal Summary
Deal Summary JANUARY 2018 < 3 >
Slide 4: Complements Existing Portfolio
Complements Existing Portfolio Maintains Leading Position in Brockham Holmwood the Weald Basin 3X Net Acreage Position Increase in the Weald Lower Costs Across Portfolio By Leveraging Existing Equipment & Personnel Balcombe Enhanced Knowledge Base Lidsey 10km JA NJANUARY UA R Y 2 02018 18 < 4 >
Slide 5: Brief History: PEDL 244
Brief History: PEDL 244 Exploration Well Drilled In 1986 By Balcombe - 1 Conoco, Targeting The Great Oolite And The Mid Kimmeridge Micrite Balcombe 2 and 2Z Sidetrack Drilled In Balcombe – 2/2Z 2013 By Cuadrilla, As A Horizontal Well Through Kimmeridge limestone Planning Application Submitted To WSC
Slide 6: Prime Location in Weald Basin
Prime Location in Weald Basin Albury Lidsey Storrington Balcombe Alfold Brockham Horse Hill TWT (ms) Regional N-S Cross Section Reveals Balcombe Field Location Is Thickest Section Of Weald Basin’s Kimmeridge Clay Location’s Thickness Indicative Of Maturity *Lines Indicate Approximate Projected Wel
Slide 7: Field Geology
Field Geology Balcombe Kimmeridge Limestones Are Laterally Continuous To The West And North Lidsey Across The Weald Basin Horse Hill Balcombe Licence Brockham Limestone S Intervals N JANUARY 2018 < 7 >
Slide 8: Limestone Intervals: Balcombe vs Brockham
P E EPRe eCr OCM omP Ap R a rI iSs O o nN -- BBr R o cOkC hK HAM am Limestone Intervals Balcombe And Brockham Have Similar Kimmeridge Layer Balcombe Brockham Characteristics Kimmeridge Layer : Thickness Balcombe 568m Brockham 385m 1st Lst. 2nd Lst. 3rd Lst. JANUARY 2018 < 8 >
Slide 9: Peer Comparison – Horse Hill
Peer Comparison – Horse Hill Horse Hill Discovery Flowed Oil From Naturally Fractured Kimmeridge Upper Limestone Layers Balcombe’s Kimmeridge Characteristics Similar To Horse Hill And Brockham Balcombe Has Same Limestone Layers That Flow Tested As Horse Hill Kimmeridge Layer : Thickness Balcom
Slide 10: Production Potential
PRODUCTION POTENTIAL Balcombe Horse Hill Licence Horse Hill Ready For Flow Test Flow Tested ~1,600ft Horizontal Upper Section of Balcombe Limestone Upper Limestone ~900 BOPD Rate from UKOG RNS 1/3/16 JANUARY 2018 < 10 >
Slide 11: Deal Summary
Deal Summary £4m Acquisition, Plus Costs Of Balcombe-2Z Well Test And Field Development Planning Transaction Maintains Angus Energy As A Leading Operator In Weald Basin Increases Company’s Prime Acreage Position In Weald > 3x Adds 25% Balcombe License Interest To Asset Portfolio JANUARY 2018
Slide 12: Conclusion
Conclusion Company Will Lead Operations On Behalf Of Partners Increased Ability To Leverage Knowledge, Equipment And Personnel To Lower Costs Across Portfolio Balcombe Field Discovery In The ‘Sweet Spot’ Of The Weald Basin Kimmeridge Thickness 568m ~ 25% thicker than Horse Hill Balcombe-2Z