Deltic Energy Plc · LSE:DELT
Deltic Energy — Shareholder Meeting (June 2022)
14 slides from Deltic Energy's shareholder meeting presentation, Jun 15, 2022
Slide 1: AGM Presentation
AGM PRESENTATION 15 JUNE 2022
Slide 2: Important Notice
Important Notice By accepting this document, and in consideration for it being made available to such recipient, each recipient agrees to keep strictly confidential the information contained in it and any information otherwise made available by Deltic Energy Plc (the "Company"), whether orally or in
Slide 3: Deltic is positioned for success in 2022 and beyond
Deltic is positioned for success in 2022 and beyond Established UK North Sea gas focussed exploration company High quality prospects have attracted world class partners in Shell and Capricorn Portfolio contains multiple drill ready opportunities Gas price has improved significantly, further supporti
Slide 4: Recent achievements and activity
Recent achievements and activity Deltic is the most active UK focussed junior explorer Twenty three licences awarded over three offshore licensing rounds Five licences farmed out to Capricorn in 2021 – SNS core acreage Two licences farmed out to Shell in 2019 – Pensacola and Selene USD$1.6M in back
Slide 5: Licence Portfolio
Licence Portfolio Strategic mature basin position built over three licence rounds Southern North Sea Central North Sea Eleven Licences in total Two Operated Licences (100% WI) Nine Non-Operated (25-50% WI) JVs with Shell & Capricorn All located near established infrastructure Net P50 Resources >1.25
Slide 6: P2252 Pensacola (30% Deltic, 70% Shell)
P2252 Pensacola (30% Deltic, 70% Shell) Firm well to be spudded September 2022 Fully funded, high impact exploration well operated by Shell ▪ Pensacola is a firm commitment well agreed with the NSTA ▪ High impact prospect in emerging Zechstein Reef fairway ▪ Gross P50 Prospective Resources of 309 BC
Slide 7: Selene Prospect (50% Deltic, 50% Shell)
Selene Prospect (50% Deltic, 50% Shell) A’ One of the largest unappraised structures in the SNS Missed pay opportunity unlocked by modern depth conversion ▪ Modern workflows solved previous depth conversion challenges ▪ Updated depth structure maps explains gas presence in the legacy 48/8b-2 well ▪
Slide 8: Capricorn JV
Capricorn JV Deltic fully carried through extensive pre-drill geotechnical work programme P2560 – Breagh South P2428 – Plymouth Area 30% Deltic, 70% Capricorn (Operator) 40% Deltic, 60% Capricorn (Operator) Underexplored area with proven hydrocarbon system 680km2 new 3D seismic acquired in Q4 2021 A
Slide 9: Central North Sea Licences
Central North Sea Licences Low risk prospects close to existing infrastructure P2542 – Syros (100% DELT) ▪ Fulmar / Skagerrak Rotated Fault Block Prospect ▪ Analogous to adjacent Cayley Field (first gas June 2021) ▪ Newly reprocessed seismic purchased Q1 2022 ▪ P50 Prospective Resources of 21 mmboe
Slide 10: UK Gas Price
UK Gas Price Renewed focus on UK energy security UK increasingly reliant on imported natural gas to meet domestic demand 2021 c. 62% of all gas used was imported costing £119M per day Currently operating in oil and gas price environment that is significantly higher than historic norms, materially im
Slide 11: Energy Profits Levy ('EPL')
Energy Profits Levy (‘EPL’) Super-deduction presents significant opportunity for Deltic Illustrative Example Tax Super-Deduction: £100 spend costs an Operator ~£9 after tax relief Future Scenario: Syros potential IXL tie-back development £100 spend £25m well cost ▪ Incoming party takes 60% WI in a D
Slide 12: 33rd Licensing Round
33rd Licensing Round Opportunity to further expand asset base New UK Energy Strategy Accelerates Timing of 33rd Round ▪ 33rd licensing round due to launch in Autumn 2022 ▪ Expectation is that new licences would be awarded in Q2 2023 ▪ Provides a low cost opportunity to re-build the operated portfoli
Slide 13: Deltic is delivering on its business plan
Deltic is delivering on its business plan Built high impact portfolio of assets World class partners have been attracted in to Deltic’s licence portfolio Quality of Deltic’s assets and technical work endorsed by farm outs with Shell and Capricorn First exploration well due to be drilled at end Q3 20
Slide 14: Deltic Energy Plc
DelticEnergy EnergyPlc Plc Investor Relations Queries Deltic Camarco First Floor First Floor The Old Fire Station 107 Cheapside 150 Waterloo Road 150 Waterloo Road London London London EC2V 6DN SE1 8SB SE1 8SB United Kingdom United Kingdom United Kingdom Tel: +44 (0)20 7887 2630 Tel: +44 (0)20 7887