Deltic Energy Plc · LSE:DELT
Deltic Energy — Investor Presentation (February 2025)
16 slides from Deltic Energy's investor presentation, February 2025
Slide 1: Building Upon Exploration Success
BUILDING UPON EXPLORATION SUCCESS FEBRUARY 2025
Slide 2: Important Notice
Important Notice The information contained in this document (the “Presentation”) has been prepared and distributed by Deltic Energy PLC (the “Company”). It has not been fully verified and is subject to material updating, completion, revision, verification and further amendment. This Presentation has
Slide 3: Deltic – Unique investment opportunity within E&P Sector
Deltic – Unique investment opportunity within E&P Sector Working towards development of UKCS Selene discovery – 25% Non-Op Interest Shell operated well discovered 131 BCF gas in the Leman Sandstone No further appraisal drilling with FID expected in Q1 20272 Management’s post-tax NPV10 is circa USD$5
Slide 4: Board & Management
Board & Management Driven and highly competent management team with >125 years of global experience Andrew Nunn Sarah McLeod Chief Executive Officer Chief Financial Officer Deltic’s COO for 10 years before becoming CEO in 2024 Joined Deltic as Chief Financial Officer in 2020 Chartered Geologist with
Slide 5: Corporate Structure and Major Shareholders
Corporate Structure and Major Shareholders AIM:DELT CAPITAL STRUCTURE MAJOR SHAREHOLDERS2 % Shares in Issue 93m IPGL (Michael Spencer) 18.8 Options 10m Hargreaves Lansdown 13.7 Free Float 80.8% Interactive Investor 13.4 Cash1 £1.4m Janus Henderson 5.2 Debt NIL Lloyds Banking Group 4.7 1 as at 31 Dec
Slide 6: Licence P2437 Selene Gas Project
LICENCE P2437 SELENE GAS PROJECT
Slide 7: Selene Natural Gas Project (25% Deltic)
Selene Natural Gas Project (25% Deltic) Material gas discovery progressing towards FID with world class operator Selene Barque Clipper 25% WI in Shell operated 48/8b-3Z (drilled 2H 2024) Simple development via licence P2437 in UK SNS well discovered existing Barque gas field Gross P50 EUR of 131 BCF
Slide 8: Selene Gas Discovery – October 2024
Selene Gas Discovery – October 2024 Third largest discovery in SNS since Tolmount in 2011 Shell operated discovery well 48/8b-3Z Gross P50 EUR of 131 BCF (P90-P10 Range of 95 to 176 BCF) Key producing interval “B Sand” has better reservoir quality than pre-drill expectations c. 53m thick av. porosit
Slide 9: Selene – Route to FID and Value
Selene – Route to FID and Value Clearly defined technical and regulatory process to reach FID EXPLORE PLAN & PERMIT BUILD PRODUCE DECOMM YEAR 2024 2025 2026 2027 2028 2029 >2040 DISCOVERY FINAL FIRST GAS CESSATION OF P50 EUR 131 BCF INVESTMENT PRODUCTION DECISION FID is major milestone on route to f
Slide 10: Selene – Potential Development Scenario and Economics
Selene – Potential Development Scenario and Economics NPV10 of USD$58M and circa USD$25-40M of free cash1 – net to Deltic Development assumptions – P50 gas volumes, two horizontal development wells via NUI and new pipeline to Barque field Gross development CAPEX of circa USD$285 million with first g
Slide 11: Selene – on block exploration upside
Selene – on block exploration upside Deltic GIIP Recoverable Aug 2024 (BCF) Resources Low risk c. 50 BCF recoverable from Endymion Prospect (BCF) Layer P90 P50 P10 P90 P50 P10 Direct analogue / structural extension of former Mimas gas field to south A Sand 32.3 54.6 86.4 11.5 21.9 38.3 B Sand 26.1 4
Slide 12: Reshaping the UK Portfolio
Reshaping the UK Portfolio Minimise cost exposure and retain optionality POLICY CAN CHANGE, ASSET QUALITY REMAINS Licence P2646 – Dewar Prospect (Deltic 100% WI) , CNS AVO supported Forties Sandstone prospect Gross P50 Prospective Resources of 20.8 MMBO and 41% GCoS Effective from March 2024, Phase
Slide 13: Forward Strategy
FORWARD STRATEGY ye
Slide 14: Strategic Focus
Strategic Focus Building a diversified, high impact and self-funding E&P company Reduce costs and extract value from UKCS licences Secure forward funding for Selene gas development to FID and beyond Relinquish non-core licences, reduce and/or defer spend Farm-down prior to Phase A spend on Blackadde
Slide 15: Building a diversified, high impact and self-funding E&P
Building a diversified, high impact and self-funding E&P Major value disconnect between Deltic share price and Selene project economics Deltic market cap of c. GBP£5M versus Selene Gas Project NPV10 of >GBP£45M net to Deltic Selene could deliver post-tax Free Cash Flow of GBP£135M net to Deltic duri
Slide 16: Deltic Energy contact
Deltic E First Floor 150 Water! London — SE1 8SB United Ki
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