Jadestone Energy Plc · LSE:JSE
Jadestone Energy — Merger or Acquisition (June 2020)
16 slides from Jadestone Energy's merger presentation, Jun 29, 2020
Slide 1: Acquisition of Lemang PSC, Indonesia
Click to add Slide Title Click to add sub head • Edit Master text styles • Second level • Third level • Fourth level Acquisition of • Fifth level Lemang PSC, Indonesia June 29, 2020 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 at the presentation (collectively, t
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 February 20, 2020 within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding the Compan
Slide 4: Lemang, Indonesia asset acquisition
Lemang, Indonesia asset acquisition Low-cost resource add, near-term development in Jadestone core area Transaction overview ⚫ Asset acquisition of a 90% operated interest in the Lemang PSC1 ⚫ Headline initial consideration of US$12 million funded from cash — Additional US$5 million on first gas, —
Slide 5: Lemang development overview
Lemang development overview Near-term production enhancement and significant resource available Summary ⚫ Low technical risk project, near FID — Fully appraised Akatara field — 11 well penetrations on the structure and 3D seismic — Resource estimates validated by external audit — Well defined FEED c
Slide 6: Ensuring sustainability: Jadestone's priorities in Indonesia
Ensuring sustainability Jadestone’s priorities in Indonesia Framework Priorities ⚫ Reduced carbon footprint through locally-sourced energy ⚫ AMDAL environmental licence approved for field development and production ⚫ Brownfield development site Environment ⚫ Commitment to environmental protection in
Slide 7: Subsurface summary
Subsurface summary Technical overview Indicative Akatara well log ⚫ Northern most part of the hydrocarbon rich Location Sumatra basin ⚫ Top reservoir depth ~1,400m @ top UTAF B Gas found in the UTAF (B, C, E) reservoirs, both gas & oil found in the LTAF (F & G) UTAF B-B3 sands (key zone of 75% gas v
Slide 8: Lemang gas development
Lemang gas development ~US$94 million development (gross)1 Wells Product commercialisation ⚫ Data set derived from 11 existing wells into the ⚫ 2C sales gas resource: 55.2 bscf2 Akatara structure ⚫ Sold to PGN (national gas distributer & — Two existing wells to be worked over and pipeline operator)
Slide 9: Indonesia domestic market
Indonesia domestic market Adding diversity and balance to the portfolio Indonesia domestic gas market Sumatra LPG market ⚫ Growing demand ⚫ Domestic supply deficit — CAGR 4% p.a over the next 10 years — Demand driven by residential sector for cooking — Pipeline gas demand driven by industrial sector
Slide 10: Lemang production profile
Lemang production profile A six-year plateau rate period Production profile1, 90% net to Jadestone mboe/d Gas 6 LPG Condensate 5 4 6-year gas production plateau at 18.8 mmscf/d 3 2 1 0 Year 1 2 3 4 5 6 7 8 9 10 11 12 13 Year 14 1 Based on an independent review of contingent resources by ERCE, an ind
Slide 11: 2P reserves + 2C resources mix
2P reserves + 2C resources mix Pro forma for Maari and Lemang, excluding Tho Chu and SC56 By asset Gas/liquids & fixed price/variable Concession/PSC 2P + 2C with Maari, mm 34% 36% 32% 36% boe 64% 64% 14% 18% 2% Total = 84.1mm boe Total = 84.1mm boe Total = 84.1mm boe 2P + 2C with Lemang, mm 17% 27%
Slide 12: Fiscal overview
Fiscal overview Illustration of a conventional Indonesian PSC Summary of key terms1 Illustrative Gov./contractor take during max. cost recovery ⚫ First tranche petroleum (“FTP”) to the Government 10 10 0 0 0 — 10% on both oil and gas ⚫ Domestic market obligation (“DMO”) — 25% of contractor profit oi
Slide 13: Key steps to completing the transaction
Key steps to completing the transaction Straight-forward process Early Acquisition Conditions to influence Contingent Closing agreement closing during interim payments period ⚫ Executed ⚫ Government ⚫ Jadestone ⚫ Anticipated ⚫ US$5 million June 27, 2020 consent Indonesia Q1 2021 payable on leaders f
Slide 14: Lemang acquisition highlights
Lemang acquisition highlights Low cost resource add, portfolio balance ⚫ US$0.70/boe 2C resource1,2 Low cost resource add ⚫ Funded through available cash resources ⚫ Fully appraised liquids rich gas Low technical risk ⚫ Within one of Jadestone’s core areas, with deep history and expertise Portfolio
Slide 15: Appendix
Click to add Slide Title Click to add sub head • Edit Master text styles • Second level • Third level • Fourth level Appendix • Fifth level www.jadestone-energy.com 15
Slide 16: 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) SC56 Maari 69% 12.2 -- 51 46/07 12,000—14,000 bbls/d 2020 Montar