Jadestone Energy Plc · LSE:JSE
Jadestone Energy — FY2020 Earnings Presentation
21 slides from Jadestone Energy's earnings presentation, Apr 22, 2021
Slide 1: Full Year 2020 Results Review
Click to add Slide Title Click to add sub head • Edit Master text styles • Second level • Third level Full Year •2020 Fourth level • Fifth level Results Review 22 April 2021 www.jadestone-energy.com 1
Slide 2: Disclaimer & advisories
Disclaimer & advisories Disclaimer You must read the following before continuing. The following applies to this document, the presentation of the information in this document any question-and-answer session that may follow, and any additional documents handed out in relation to the presentation (col
Slide 3: Advisories
Advisories Certain of the information in this Presentation is “financial outlook” as approved by the Company’s Board of Directors as at 25 February 2021 within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding the Company
Slide 4: 2020 at a glance
2020 at a glance Balance sheet protected with deferred investment Guidance Select major 2020 milestones 11,000 Production, bbls/d ! Achieved revised production guidance range 12,500 ! Reduced investment to protect balance sheet and returns 11,438 8,000 14,000 Unit opex unchanged from original guidan
Slide 5: 2020 ESG highlights
2020 ESG highlights Commitment to continuous improvement 0 “reportable” 14 mg/L Average OIW 15 % Reduction of 90,000 t Reduction of CO2-e environmental concentration overall GHGs due to significant incidents reduction in flaring TCFD Alignment across 0 Lost Time Effective Stakeholder 88 % Nationals
Slide 6: ESG framework and sustainable development goals
ESG framework and sustainable development goals Aligning with wider societal challenges Jadestone’s ESG Framework Jadestones’sESG Jadestones’s Jadestones’s ESGFramework ESG Framework Framework Strategic Pillar Environmental Human & Social Capital Leadership & Governance Sustainability Sustainability
Slide 7: 2020 results
2020 results Cash generation, reduced spending, and lower costs Overview Average production and hydrocarbon prices " Sustainability — Business resiliency, managing COVID-19, Target Zero H2 H1 H2 H1 deviations from our safe operating parameters 2020 2020 2019 2019 " 2020 guidance achieved1 Montara —
Slide 8: Operational performance
Operational performance Focus on cost discipline Montara US$/bbl Cost, US$/bbl1 Production, bbls/d bbls/d " Skua wells offline for portion of 30 15,000 H2 2020 awaiting workover Skua 10 & Skua 11 offline 25 " Partly offset by increased 10,000 production from Swift/Swallow 20 5,000 " Logistics saving
Slide 9: Financial results—YE 2020 EBITDAX
Financial results—YE 2020 EBITDAX Yearly 2020 adjusted EBITDAX reconciliation Income statement extract, US$ million EBITDAX, US$ million 12 months ended 31 Dec Reported Adjusted Income statement extract, US$ million 2020 2019 200 187.5 177.5 Revenue 217.9 325.4 Production cost (105.3) (119.9) 100 St
Slide 10: Financial results—YE 2020 cash bridge
Financial results—YE 2020 cash bridge Montara and Stag demonstrating strong positive cash generation US$ million Cash balance 320 Montara 8 31 Stag 44 Other cashflow 55 RBL 240 Non-recurring cashflow 53 12 1 25 8 21 12 26 12 160 131 19 44 11 12 80 89 101 89 0 Cash Revenue Opex Other Staff Other Δ in
Slide 11: 2020 proposed final dividend
2020 proposed final dividend US$5.0 million final dividend to be recommended following internal re-organisation Context Dividend policy Today’s announcement " A growth-oriented business " Dividend policy adopted in " Intention to recommend US$5.0 million Q3 2019 final 2020 dividend " Increasing bala
Slide 12: Status of Jadestone Energy plc, the new TopCo
Status of Jadestone Energy plc, the new TopCo Internal re-organisation under new UK based parent will be completed this quarter Context Select remaining key steps/expected timetable " TSX-V delisting in March 2020 Dates Overview " Annual cost savings of up to US$1 million " General meeting — approx.
Slide 13: Jadestone reserves & resources summary
Jadestone reserves & resources summary A material opportunity set Jadestone 2P reserves, mm bbls Jadestone resources outlook, mm boe mm bbls mm boe 50 250 40 200 30 150 20 100 10 50 0 0 Stag 2P Montara 2P 2020 Techn ical Grou p 2P Grou p 2P Maari 2P Leman g 2C Nam Du U Minh Nam Du Th o Chu Other To
Slide 14: Jadestone 2021 Group guidance
Jadestone 2021 Group guidance 2021 sees a return to active organic re-investment and growth Summary of Jadestone 2021 Group guidance 2021 guidance Comments Australia Production 10,000—12,000 bbls/d " H6 infill well + Skua 10/11 workovers in H2 2020 Gr Maari Production ~1,500 bbls/d " Assumes transfe
Slide 15: 2021 production guidance: 11,500—13,500 bbls/d
2021 production guidance: 11,500—13,500 bbls/d Inclusive of Maari from 1 July 2021 (~1,500 bbls/d annualised contribution) 2021 production outlook versus H2 2020 actual Production growth drivers bbls/d " Valaris 107 scheduled for June 20,000 Montara NFA 2021 Stag NFA " Montara H6 infill well online
Slide 16: 2021 estimated cashflow generation
2021 estimated cashflow generation The business is on track to deliver strong cashflow generation 2021E OCF (after tax)—strong operating cashflow generation 2021E closing cash at year-end—strong EFCF generation US$ million US$ million 200 200 Includes c. US$30 million of non- routine workovers in Mo
Slide 17: Gas development projects
Gas development projects Indonesia and Vietnam Lemang PSC, onshore Indonesia Nam Du / U Minh development, offshore Vietnam " 2C resource 17.2 mm boe, net1 " 171bcf of 2C resources with a further circa 31bcf in Nam Du South fault block and resource upside " Anticipated plateau production of c. 5.3 mb
Slide 18: Group work programme
Group work programme Medium term outlook Asset Activity 2021 2022 2023+ Montara Production optimisation & opex reductions Operations Stag Production optimisation & opex reductions Complete transition of operatorship, embed Maari Jadestone operating culture Montara Infill drilling campaign H6 Product
Slide 19: Commitments
Commitments Top of mind priorities. We will… Operations ESG Returns and liquidity Growth Target Zero and Remain nimble with Deliver Australia Deliver guidance with continuous capital, to maximise infill well & workovers, efficient operations improvement returns and close Maari Maintain focus on Havi
Slide 20: Appendix
Click to add Slide Title Click to add sub head • Edit Master text styles • Second level • Third level Appendix • Fourth level • Fifth level www.jadestone-energy.com 20
Slide 21: Jadestone Energy—updated portfolio overview
Jadestone Energy—updated portfolio overview Building a balanced, low risk, full cycle portfolio Key assets location Key assets and reserves Gulf of 2P1 2C2 Thailand Asset Country W.I. (%) Production (net WI) / status (mm bbls) (mm boe) 2021 production guidance: Maari 69% 10.6 -- 51 ~1,500 bbls/d 46/