Coro Energy PLC · LSE:CORO
Coro Energy — Investor Presentation (June 2018)
23 slides from Coro Energy's investor presentation, June 2018
Slide 1: Corporate Overview
Corporate Overview June 2018
Slide 2: Important Information
Important Information This presentation, any other document handed out at the meeting and any accompanying verbal presentation (together the “Presentation Materials”) are being provided to a limited number of specific parties within the United Kingdom only, not the public at large, who may be intere
Slide 3: Company Overview
Company Overview Coro Energy plc is a London Stock Exchange listed, pan Euro-Asian upstream oil and gas exploration and production company Twenty year operating history and track record Company snapshot − Full cycle E&P company, operating in Italy since 1997 − Listed on London Stock − Currently oper
Slide 4: Italian Portfolio
Italian Portfolio Currently operating 5 Italian production concessions and 4 exploration licences, comprising 7.2 Bcf in 2P Concession Reserve and 36.8 Bcf in 2C Resource Permit 2H 2018 2019 2020 2022 Application Sillaro Sant’Alberto Bezzecca West Vitalba sidetrack first gas development Exploration
Slide 5: Our Ambitious SE Asian Growth Strategy
Our Ambitious SE Asian Growth Strategy Coro’s aim is to become a mid-tier, SE Asian focused E&P company 1. USE ITS KEY ADVANTAGES IN RAPIDLY ESTABLISHING A SOUTH EAST ASIAN PORTFOLIO • Network: Board & Executive management’s well developed connectivity in region, with upstream players, service provi
Slide 6: Our Ambitious SE Asian Growth Strategy
Our Ambitious SE Asian Growth Strategy Coro’s aim is to become a mid-tier, SE Asian focused E&P company CASH FLOW FROM ITALIAN PORTFOLIO Combine and leverage skill set of Substantial increase in Expansion of daily production De-risk development experienced Executive and hydrocarbon portfolio Operati
Slide 7: Why SE Asia? Growing Demand
Why SE Asia? Growing Demand 2015-2020 GDP Growth Rates % Annual Growth SE Asian countries lead the world 8,0 in economic growth 6,5 6,6 6,0 5,2 5,0 4,0 2,2 1,9 2,0 0,0 Indonesia Malaysia Vietnam Phillippines USA Euro Area 6
Slide 8: Why SE Asia? Supply Side Restrictions
Why SE Asia? Supply Side Restrictions Gas Consumption and Production Tcf The IEA believes new gas 4,0 ~6 bcm (~200bcf) of production will contribute an production would need to be additional ~70 bcm by 2040, with added every year to keep net imports only beginning in 2035 pace with the IEA’s demand
Slide 9: Why SE Asia? Attractive Gas Market Fundamentals
Why SE Asia? Attractive Gas Market Fundamentals Gas Prices by Country US$ / MMbtu 12,0 2005 2016 11,0 SE Asian gas prices have seen considerable The US and UK have growth in the last seen the opposite trend 9,0 decade 7,5 7,4 7,0 7,0 7,0 6,7 6,5 6,0 6,0 4,7 4,0 3,0 3,0 2,5 2,5 0,0 Phillippines Singa
Slide 10: Regional Gas Supply-Demand Balance
Regional Gas Supply- Demand Balance Wood Mackenzie’s View 9
Slide 11: Indonesia, Malaysia, Myanmar Large Yet-To-Find Gas Resources
Indonesia, Malaysia, Myanmar Large Yet-To-Find Gas Resources Oil reserves (Bbo) Vietnam ~40 Undiscovered Resources: 3.3 Tcf ~18 ~1.8 Bnboe oil Gas reserves Tcf ~2.4 Tcf gas (Tcf) Myanmar Undiscovered Resources: 0.4 ~7 ~15 Tcf gas Tcf Thailand ~43 Malaysia Undiscovered Resources: 3.6 Tcf Undiscovered
Slide 12: Investment Strategy: Investment criteria
Investment Strategy Investment criteria High-graded countries such as Indonesia, Malaysia & Vietnam Preference for gas over oil, but chasing both Exploration-stage assets, where value to be added through technical de-risking and the drill-bit Appraisal-stage assets, low technical risks and smart, lo
Slide 13: Conclusion
Conclusion Coro Energy will deliver on its Vision in becoming a mid-tier, international explorer and producer. This strategy is underpinned by: People Team with an enviable track record of value creation and deep regional expertise Platform Cash generative asset base in Italy, strong balance sheet a
Slide 14: Appendix
Appendix
Slide 15: Board of Directors
Board of Directors James Parsons James Menzies Sara Edmonson Non-Executive Chief Executive Deputy Chairman Officer CEO • CEO Sound • Founder & CEO of • Previously CEO of Energy and Salamander Energy Saffron Energy and Chairman at Echo plc (sold in Feb Po Valley Energy Energy 2015) • Worked both in I
Slide 16: Leadership Team
Leadership Team Andrew Dennan Leonardo Salvadori Chief Financial Managing Director, Officer Italy • Over 10 years' • 30 years experience experience in in exploration and capital markets new ventures • Leading proprietary investment • 20 years' experience with ENI working in decisions, capital raisin
Slide 17: Bezzecca Production Licence
Bezzecca Production Licence STATUS: PRODUCING Summary Reserves Resources Operator Northsun Italia S.p.A Milan 1P 1.2 1C 1.8 Ownership 90% Northsun Italia Bezzecca Licence expiry 22 Oct 2028 2P 2.3 2C 2.5 gas field Licence area 38.59 km2 3P 3.3 3C 3.2 ‒ Successfully drilled in 2009. ‒ Tie in to treat
Slide 18: Sant'Alberto Production Licence
Sant’Alberto Production Licence STATUS: DEVELOPMENT READY Summary Reserves Resources Venice Operator Northsun Italia S.p.A 1P 1.6 1C - Sant’Alberto Ownership 100% Northsun Italia gas field 2P 2.1 2C. - Licence expiry 2037 3P 2.8 3C - Bologna Licence area 19.51 km2 ‒ 31 km of 2D seismic ‒ Incorporate
Slide 19: Sillaro Production Licence
Sillaro Production Licence STATUS: PRODUCING Venice Summary Reserves Resources Operator Northsun Italia S.p.A 1P 0.0 1C 0.6 Ownership 100% Northsun Italia Sillaro 2P 2.2 2C 1.1 Bologna gas field Licence expiry 29 Oct 2028 Licence area 7.37 km2 3P 2.6 3C 1.5 • Proven production capability (~4 bcf pro
Slide 20: Rapagnano Production Licence
Rapagnano Production Licence STATUS: PRODUCING Summary Reserves Operator Apennine S.p.A 1P 0.5 Ownership 100% 2P 0.6 Licence expiry 28 Nov 2022 Licence area 8.42 km2 3P 0.9 ‒ Proven production capability (0.6 bcf produced to date from 1 well) ‒ Operating netback ~ 50% ‒ No further capex required 19
Slide 21: Production and Near Term Development
Production and Near Term Development Rapagnano Gas Field Venice Venice Milan Bezzecca Bezzecca Sant’Alberto Sant’Alberto Gas Field gas field Sillaro gas field Gas Field Sillaro Bologna Gas Field gas field Bologna Sillaro Bezzecca Rapagnano Sant’Alberto Status: Producing Status: Producing Status: Pro
Slide 22: Upside Potential Including Exploration
Upside Potential Including Exploration Taranto Laura Santa Maria Goretti Status: Exploration licence with gas discovery Status: Exploration licence Resource: 14 Bcf (2C) Resource: 33 Bcf (Best Case) • Discovered by ENI/Agip in 1980 • Located in Ascoli Piceno (Marche) in central • The field is locate
Slide 23: www.coroenergyplc.com
www.coroenergyplc.com