Union Jack Oil PLC · LSE:UJO
Union Jack Oil — Investor Presentation (April 2017)
34 slides from Union Jack Oil's investor presentation, April 2017
Slide 1: Corporate Presentation
Production, Drilling, Development and Investment in the United Kingdom Onshore Hydrocarbon Sector UNION JACK OIL plc AIM: UJO Corporate Presentation April 2017
Slide 2: Disclaimer
Disclaimer This presentation, and any supplemental information (written or oral) or other documents provided in connection therewith (collectively, the “materials”), are provided solely for the information of those being presented to and may not be distributed, published, reproduced or otherwise dis
Slide 3: Strategy – focused on value creation
Strategy – focused on value creation • Strategic Objective: create shareholder value by building a successful UK onshore E&P company and growing risked asset value per share – The Board believe the full-cycle costs associated with UK onshore E&P activity remain attractive • Focused on conventional l
Slide 4: Conventional low-cost onshore production, development and exploration drilling
Conventional low-cost onshore production, development and exploration drilling • Experienced corporate and technical team • Listed on AIM: UJO • Assembled a balanced portfolio of seven licence interests all based onshore UK – Wressle-1 discovery (PEDL180/PEDL182) with combined ~710 boepd on test – P
Slide 5: Experienced corporate and technical team
Experienced corporate and technical team David Bramhill, Executive Chairman David has over forty years of experience in the natural resources industry. He has consulted for several companies including; Shell, Petrofina, British Petroleum, Premier Oil and Saxon Oil via Rotork plc. He has directed and
Slide 6: PEDL180 and PEDL182 Wressle oil discovery
PEDL180 and PEDL182 Wressle oil discovery (15.00%) – progressing Field Development Plan for oil production (3.33% subject to OGA approval) 6
Slide 7: Wressle discovery (15.00%) – progressing Field Development Plan
Wressle discovery (15.00%) – progressing Field Development Plan for oil production (3.33% subject to OGA approval) • PEDL180 and PEDL182 licences are in Lincolnshire in the established East Midlands producing province – On trend with nearby discoveries at Crosby Warren, Brigg and Broughton • Licence
Slide 8: Testing at Wressle-1 discovery
Testing at Wressle-1 discovery 8
Slide 9: Wressle reserves Competent Persons Report by ERC Equipoise Ltd
Wressle reserves Competent Persons Report by ERC Equipoise Ltd • Oil and gas Reserves and Contingent Resources identified by the Competent Person in aggregate exceed the Operator’s original pre-drill estimates • Gross P Mean Oil Initially In Place (“OIIP”) is 14.18 million stock tank barrels in aggr
Slide 10: Substantial Contingent Resources in the Penistone Flags confirmed
Substantial Contingent Resources in the Penistone Flags confirmed • Substantial Contingent Resources have also been confirmed by the Competent Person in the Penistone Flags reservoir at Wressle that are over and above the oil and gas Reserves identified in the Ashover Grit and Wingfield Flags reserv
Slide 11: Net Volumes of hydrocarbons attributable to Union Jack
Net Volumes of hydrocarbons attributable to Union Jack Gross Volumes Net Volumes attributable to Union Jack Oil Equiv Oil Equiv Oil MMstb Gas bcf MMboe Oil MMstb Gas bcf MMboe 2P Ashover Grit and Wingfield Flags 0.62 0.20 0.65 0.09 0.03 0.10 2C Penistone Flags 1.53 2.00 1.86 0.23 0.30 0.28 Broughton
Slide 12: Wressle-1 composite log
Wressle- 1 composite log Penistone Flags 15.9 metre pay DST 89 bopd, 35 API and 1.7 mmcfd EWT 180 bopd Wingfield Flags 5.1 metre pay DST 182 bopd, 39 API and 0.46 mmcfd Ashover Grit 6.1 metre pay DST 80 bopd, 39 API and 0.47 mcfd 12
Slide 13: Wressle well site testing operations
Wressle well site testing operations 13
Slide 14: PEDL182 Broughton North Prospect (15.00%)
PEDL182 Broughton North Prospect (15.00%) - Broughton North Prospect mapped on high quality 3D seismic data (3.33% subject to OGA approval) • The acquisition affiliates two prospective licence areas, already demonstrated by the Wressle-1 oil and gas discovery • Broughton North Prospect mapped on hig
Slide 15: Broughton North Prospect Prospective Resources
Broughton North Prospect Prospective Resources • The Broughton North Prospect has OIIP of 3.43 million stock tank barrels, gross unrisked Mean Prospective Resources of 0.51 million stock tank barrels and 0.51 bcf of gas in aggregate across two reservoir sands, the Ashover Grit and Penistone Flags •
Slide 16: PEDL005(R) Keddington oilfield (10%) – producing asset
PEDL005(R) Keddington oilfield (10%) – producing asset 16
Slide 17: PEDL005(R) Keddington oilfield (10%)
PEDL005(R) Keddington oilfield (10%) • Union Jack’s first production interest acquired in September 2015 – Acquired a 10% interest in Keddington, associated infrastructure and production facilities • Will look to maximise the value of the “Greater Keddington” area – Licence has significant potential
Slide 18: Keddington production facilities
Keddington production facilities 18
Slide 19: PEDL253 Biscathorpe Prospect (12%)
PEDL253 Biscathorpe Prospect (12%) – large drill-ready prospect with planning consent 19
Slide 20: Biscathorpe Prospect (12%) – large drill-ready prospect with planning consent
Biscathorpe Prospect (12%) – large drill-ready prospect with planning consent • PEDL253 is within the proven hydrocarbon fairway of the South Humber Basin – On trend with the Saltfleetby Gasfield, Keddington Oil Field and the Louth and North Somercotes prospects • The Biscathorpe-1 well drilled by B
Slide 21: Biscathorpe Prospect
Biscathorpe Prospect Saltfleetby South Elkington Keddington Prospect Louth Biscathorpe Prospect Prospect Structurally high ridge along which are the Saltfleetby and Keddington fields. Biscathorpe is located at the west end of this ridge. Louth is located along the same feature. 21
Slide 22: Topographic map of the Dinantian surface at Biscathorpe
Topographic map of the Dinantian surface at Biscathorpe Biscathorpe-2 Biscathorpe-1 Slope created by a fault. Sand expected to thicken down this slope 22
Slide 23: Seismic line Dinantian Structure map showing potential thickening into Biscathorpe-2 location
Seismic line Dinantian Structure map showing potential thickening into Biscathorpe-2 location Biscathorpe-1 Slope created by a fault. Sand expected to thicken Biscathorpe-2 location proposed site down this slope. 23
Slide 24: Biscathorpe-2 – Dinantian Structure map showing potential for a 'mega' trap
Biscathorpe-2 – Dinantian Structure map showing potential for a ‘mega’ trap Potential ‘mega’ trap area based on large structural nose 24
Slide 25: Biscathorpe Prospect review – revised volumetrics and risk
Biscathorpe Prospect review – revised volumetrics and risk Volumetric P90 P50 P10 Mean Input / Output STOIIP (mmbo) 7.52 29.50 142.00 56.00 Prospective Resources 1.84 7.30 35.30 14.00 (mmbo) Trap presence 80.00% • Principal risk relates to thickness of Trap Effectiveness 80.00% ‘basal’ unit at propo
Slide 26: Findings of Independent Review of Biscathorpe 3D by Sotwell Exploration Ltd
Findings of Independent Review of Biscathorpe 3D by Sotwell Exploration Ltd • Well ties, by synthetic seismogram are high quality and allow a robust link between the geology and seismic data • The Biscathorpe ‘concept’ is confirmed, with good evidence from attributes of the possibility of sand thick
Slide 27: PEDL143 Holmwood Prospect (7.5%)
PEDL143 Holmwood Prospect (7.5%) – Acquisition brings the first Weald Basin licence interest to Union Jack’s UK onshore portfolio 27
Slide 28: Holmwood-1 is a high impact exploration well
Holmwood-1 is a high impact exploration well • Holmwood -1 is a high impact exploration well with planning consent and is expected to be drilled during 2017 • The Operator estimates the unrisked gross mean prospective resources to be 5.6 million barrels with a geological chance of success of 33% fro
Slide 29: PEDL201 Burton on the Wolds (10%) – significant unconventional prospectivity
PEDL201 Burton on the Wolds (10%) – significant unconventional prospectivity 29
Slide 30: Burton on the Wolds (10%) – significant unconventional prospectivity
Burton on the Wolds (10%) – significant unconventional prospectivity • PEDL201 is in the onshore UK East Midlands Petroleum Province Shale Map of UK – Situated on the southern margin of the Widmerpool Gulf • Molten Limited completed a report reviewing the shale resource potential of PEDL201 – Mean d
Slide 31: Union Jack investment summary
Union Jack investment summary • Low-risk onshore strategy and a balanced portfolio of seven licence interests • Portfolio positioned to deliver asset value growth • Commercialisation planned for Wressle-1: Field Development Plan, resubmission of planning appeal underway – Three formations successful
Slide 32: Corporate information
Corporate information • Listed on AIM: 31 July 2013 • Advisers – SP Angel Corporate • Shares in Issue: Finance LLP: – 4,333,063,205 ordinary shares of Nominated Adviser and Broker 0.025p each – 55,052,548 warrants in issue – BDO: Auditor • Contact – Osborne Clarke: Solicitors info@unionjackoil.com –
Slide 33: Glossary
Glossary 3D Seismic M / Mbbl / Mboe A set of numerous closely-spaced seismic lines that provide a high Thousand (1x103) / thousand barrels of oil / thousand barrels of oil spatially sampled measure of subsurface reflectivity equivalent B/ Bcf mcfd Billion (1x109) / billion cubic feet of gas Thousand
Slide 34: 6 Charlotte Street Bath BA1 2NE
6 Charlotte Street Bath BA1 2NE England Telephone: + 44 (0) 1225 428139 Facsimile: + 44 (0) 1225 428140 Email: info@unionjackoil.com Website: www.unionjackoil.com