United Oil & Gas Plc · LSE:UOG
United Oil & Gas — Shareholder Meeting (June 2022)
17 slides from United Oil & Gas's shareholder meeting presentation, Jun 1, 2022
Slide 1: Annual General Meeting
United Oil & Gas Annual General Meeting June 2022 WWW.UOGPLC.COM
Slide 2: Disclaimer
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 2 DISCLAIMER This presentation (“Presentation”) is being supplied to you solely for your assumptions. respective directors, officers, partners, employees or advisers or any other information. The Presentation has been prepared
Slide 3: Focused on Growth
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 3 FOCUSED ON GROWTH 2021 2022 100% drilling success Portfolio Business Development High Impact Jamaica Short cycle production and cashflow. 3/3 Successful development wells 2/2 Exploration Management Development Drilling Egypt
Slide 4: Cash Generative Portfolio with High Reward Upside
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 4 CASH GENERATIVE PORTFOLIO WITH HIGH REWARD UPSIDE Egypt | Cash generative production Clear path to near term low-cost production from discovered Commercialisation resources and opportunities exploration growth UK (100% WI) A+
Slide 5: Finance
7 UNITED OIL & GAS FINANCE
Slide 6: 2021 Financial Results Summary
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 6 2021 FINANCIAL RESULTS SUMMARY Realised Oil Price Realised Gas Price Cash Operating Cost Group Revenue Gross Profit ($/bbl) ($/mmbtu) ($/boe) ($m) Net of Government Take ($m) 68.9 19.2 12.2 5.90 37.8 2.6 2.6 9.1 5.77 2.5 2021
Slide 7: Significant Cashflow Upside in Current Oil Price Environment
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 7 SIGNIFICANT CASHFLOW UPSIDE IN CURRENT OIL PRICE ENVIRONMENT Material cashflow drivers year-to-date Dated Brent forward Curve for remainder of 2022 > $100/bbl and Oil price 2023 > $90/bbl realisations for Q1-22 of > $95/bbl C
Slide 8: Egypt
“a 6 UNITED OIL & GAS EGYPT Abu Sennan
Slide 9: 2021 Summary - High Levels of Activity and Record Production
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 9 2021 SUMMARY - HIGH LEVELS OF ACTIVITY AND RECORD PRODUCTION Lost-Time Injuries Producing Fields Working Interests 2021 Wells – Abu Sennan Licence, Egypt ZERO 8 22% FY Average Production Drilling Success Drilling Success 2,32
Slide 10: 2022 Planned Activity and Growth Catalysts
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 10 2022 PLANNED ACTIVITY AND GROWTH CATALYSTS Q1 22 Production - Good fiscal ‐ Stable government - Experienced operator - High oil price realisations 1,566 boepd net to United’s working - Low-cost operating interest environment
Slide 11: ASV-1X Well Update
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 11 ASV-1X WELL UPDATE ASV-1X Exploration Well Encountered good reservoir at ARC and Kharita ARC target ‐ Indications of hydrocarbons recorded on mud log ‐ Oil identified from geochemical analysis of ditch-cuttings ‐ Initial pet
Slide 12: UK Central North Sea
UK CENTRAL NORTH SEA Maria
Slide 13: Licence P2519 (Maria): Discovered Barrels in a High-Activity Area
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 13 LICENCE P2519 (MARIA): DISCOVERED BARRELS IN A HIGH-ACTIVITY AREA 6 mmboe Discovered Resources Maria United’s estimate of the mid-case recoverable resources United Equity 100% held in the Maria discovery1 Awarded 2020 Expiry
Slide 14: Jamaica
7 UNITED OIL & GAS JAMAICA Walton- Morant
Slide 15: High Impact Exploration Potential, Walton-Morant Licence, Jamaica
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 15 HIGH IMPACT EXPLORATION POTENTIAL, WALTON-MORANT LICENCE, JAMAICA World-class exploration opportunity ‐ Excellent data-set including >2,250km2 3D seismic data ‐ Drill-ready Colibri prospect independently estimated to contain
Slide 16: Outlook
7 UNITED OIL & GAS OUTLOOK
Slide 17: Strategic Ambition - Value Creation and Growth Options
UNITED OIL & GAS Focused on growth | Annual General Meeting| 1 June 2022 17 STRATEGIC AMBITION - VALUE CREATION AND GROWTH OPTIONS STRATEGIC AMBITION M&A Activity Full cycle E&P company Portfolio of scale Management • Strict capital discipline & allocation Organic • Strict investment criteria • Stea