Savannah Energy Plc · LSE:SAVE
Savannah Energy — FY2019 Earnings Presentation
12 slides from Savannah Energy's earnings presentation, August 2020
Slide 1: FY 2019 Results and H1 2020 Update
FY 2019 Results and H1 2020 Update August 2020
Slide 2: Disclaimer
Disclaimer These presentation materials (the “Presentation Materials”) do not constitute or form any part of any offer or invitation or inducement to sell or issue or purchase or subscribe for any shares in Savannah Energy PLC (“Savannah”) nor shall they or any part of them, or the fact of their dis
Slide 3: Corporate overview
Corporate overview Savannah Energy PLC (“Savannah”) Market Statistics (August 2020) • Leading African-focused British independent energy company focused around the delivery of material long-term Listing AIM (SAVE) returns for stakeholders through the sustainable development of high-quality, high-pot
Slide 4: Two material business units
Two material business units Nigeria Niger • Uquo Field • R1/R2/R3/R4 • Stubb Creek Field PSC Areas1 • Accugas Assets • Two large, onshore oil & gas fields with high deliverability wells • Gas processing facility with capacity of 200 MMscfpd • Large, low cost and low technical risk PSC areas • Flagsh
Slide 5: FY 2019 results & H1 2020 update
FY 2019 results & H1 2020 update FY2019 Highlights (note: includes only 6 weeks contribution of Nigerian Assets) • Group maiden revenues of US$17.8m • Average gross daily production rose 32% to 17.2 Kboepd (FY2018: 13.0 Kboepd) • Underlying Adjusted EBITDA of US$1.8m (FY2018: negative US$13.4m) • Ne
Slide 6: Income statement summary
Income statement summary Income Statement Pro-forma EBITDA for Nigeria Acquisition FY 20191 FY 2018 FY 20191 FY 2019 $m $m $m $m Reported Pro-forma Revenue 17.8 - EBITDA (27.8) 61.9 Cost of sales (11.5) - Transaction costs 29.7 29.7 Gross profit 6.2 - Adjusted EBITDA 1.8 91.6 Administration & other
Slide 7: Balance Sheet and Reserves and Resources Summary
Balance Sheet and Reserves and Resources Summary Consolidated Statement of Financial Position Debt Borrowings1 FY 2019 FY 2018 FY 2019 H1 2020 $m $m ($m) ($m) Property, plant & equipment 618 2 Note: these debt Accugas 411.5 401.3 balances (97% of total) Exploration & evaluation 155 150 are non-recou
Slide 8: Financial and operational improvements delivered
Financial and operational improvements delivered Nigerian Assets Net Production (Kboepd) Key Post acquisition Highlights • Production volumes +40% H1 2020 versus H2 2017; Cash 19.6 collections +37% H1 2020 versus H2 2017 14.0 • Delivered peak production volume of 177 MMscfpd on 30 May 2020 • In H1 2
Slide 9: Accugas volume enhancement and price optimisation opportunity
Accugas volume enhancement and price optimisation opportunity Advantaged position Savannah’s operations in South East Nigeria • Accugas is the only significant gas processing and transportation infrastructure in south east Nigeria • c.10 Tscf undeveloped gas located in the surrounding area • Gas pro
Slide 10: Proposed early production scheme – R3 East
Proposed early production scheme – R3 East R3 East development Phase I – Trucking • Expected to deliver a plateau of c.1,000 bopd+ from initial well testing • Surface processing equipment procured on a rental basis initially • Oil to be trucked c.120km to the Goumeri/Jaouro export station, then pipe
Slide 11: Niger exploration opportunity
Niger exploration opportunity 5 out of 5 Exploration successes C.80% Basin exploration success rate 146 Savannah identified potential exploration targets Proven operating environment & strong cost management discipline <US$ 2/bbl historic basin finding cost Savannah Energy PLC | FY 2019 Results and
Slide 12: Annual Report key highlights
Annual Report key highlights Savannah Energy PLC | FY 2019 Results and H1 2020 Update 12