Predator Oil & Gas Holdings Plc · LSE:PRD
Predator Oil & Gas — Proactive One2One Forum 14 March 2024
22 slides from Predator Oil & Gas's conference presentation, March 2024
Slide 1: Phase 2 Rigless Testing Programme: Sandjet to Unlock Resources Growth
PHASE 2 RIGLESS TESTING PROGRAMME SANDJET TO UNLOCK RESOURCES GROWTH March 2024
Slide 2: Disclaimer and Forward Looking Statements
Disclaimer and Forward Looking Statements The Presentation (“Presentation”) has been prepared by Predator Oil & Gas Holdings Plc (the “Company” or “Predator”) solely in connection with providing information on the Company and may be subject to change. It is being issued to certain persons on the bas
Slide 3: Summary – Morocco
SCALE REMINDER Summary – Morocco • • 4 proven hydrocarbon traps 3C 312 BCF + 3P 810 BCF gas resources Value generation example • 3P 79-154M brls condensate resources GEOLOGICAL CONTEXT • World Class African margin setting Senegal FAN oil field Sangomar field • Fully funded • £8.76M 31/8/23 • Testing
Slide 4: Project Schedule as of 1 March 2024
PROJECT SCHEDULE as of 1 March 2024 √ √ √ NEW √ composition NEW X NEW 5/4/24 NEW * NEW NEW NEW x NEW NEW 4
Slide 5: Predator Snapshot
Predator Snapshot Morocco Strategic focus on projects capable of having high impact on share price • Near-term onshore Compressed Natural Gas development Developing unique projects in 3 jurisdictions • Medium-term gas-condensate exploration/appraisal Trinidad 3C 350 BCF 3P 2,069 BCF • Near-term onsh
Slide 6: Predator's unique status as pathfinder for Moroccan CNG development
Predator’s unique status as pathfinder for Moroccan CNG development to industry • Biogenic pure methane gas confirmed 2024 Ideal for CNG development • Extensive rigless testing programme underway • PRD drills MOU-2, MOU-3 & MOU-4 Located on Maghreb 2023 3,963 metres of section drilled gas pipeline •
Slide 7: 2021 & 2023 Drilling Results
2021 & 2023 Drilling Results FOUR SEPARATE GROUPS OF SANDS Each group with multiple thin sands Middle & Upper Sand Groups Separate mineralogy for Lower, Middle & Upper groups Structural trap 16 – 21 km2 All within structural trap Lower Sand Group Non-feldspathic MOU-3 MOU-2 MOU-4 Stratigraphic trap
Slide 8: Rationale for Rigless Perforating Programme
Rationale for Rigless Perforating Programme MOU-3 Perforated Ma Sand 845 -849 metres depth WHAT IS FORMATION DAMAGE? MOU-2 Sticky brown drilling mud 8
Slide 9: Perforating Technique Options and Limitations
Perforating Technique Options and Limitations MOU-3 Slickline gun string 111/16” size Coiled tubing unit 111/16” LIMITING FACTORS 2023 RIGLESS TESTING PLANNING 2023 111/16”” 9
Slide 10: Phase 1 Rigless Testing Results
Phase 1 Rigless Testing Results 111/16” Despite inclement weather testing programme completed under-budget High winds preventing crane work 10
Slide 11: Forward Programme – Phase 2 Rigless Testing with Sandjet
Forward Programme – Phase 2 Rigless Testing with Sandjet Perfs Sandjet perforates additional sands MOU-3 Ma & TGB-6 Middle Group Interval Perforating Programme Ma & TGB-6 3C GROSS GAS ** • One Sandjet run Middle Group Sands RESOURCES (BCF) 140 • Including TGB-6 and Ma Sand 120 120.5 * 100 80 • 20 pe
Slide 12: Phase 2 Summary of Rigless Testing Objectives
Phase 2 Summary of Rigless Testing Objectives Sandjet has not been widely used in Europe Lithuania 1995 oil field re-development – used Sand Jet to overcome significant formation damage after 10 years Due to heavy drilling mud invasion – material increase in well productivity resulted LITHUANIA CASE
Slide 13: Impact of Sandjet Testing Success on Expanded CNG Development
Impact of Sandjet Testing Success on Expanded CNG Development √Gas composition simplifies FEED 3C GROSS GAS ** RESOURCES (BCF) √Current land use will not impact EIA 140 √Gas sales principles set with Afriquia Gaz 120 120.5 √Scalable project finance becoming 100 organically sourced 80 60 41.2 40 20 0
Slide 14: Jurassic Titanosaurus Appraisal & Exploration
Jurassic Titanosaurus Appraisal & Exploration Biogenic gas Oxfordian sands Typical condensate range 12.5 to 25M brls/ 100 BCF • Well to 1,140 metres costing US$ 3.5M – 12 days • Evaluating 249 metres of potential reservoir section • 2 metres only in MOU-4 • MOU-4 established play concept; source pot
Slide 15: Jurassic Growth Supported by Diverse Market Access
Jurassic Growth Supported by Diverse Market Access Sources: Onhym & ONEE • PRD’s rapidly expanding portfolio is out-stripping management’s capabilities to fully develop its assets • Moroccan exploration expertise since 2006 needs to be leveraged for partnering opportunities or, preferably PRD will d
Slide 16: Trinidad – Cory Moruga Asset
TRINIDAD – Cory Moruga Asset Value generation example Fields & infrastructure Herrera #3 Sand WTI spot price US$77.62/bo 11/03/24 16
Slide 17: Ireland
IRELAND • Successor authorisations still under consideration • GSRO/DECC feedback indicated by end Q1 2024 • Security of gas supply now recognised as a priority • PRD focussed on M & A to realise value of non-core assets Corrib South Volumes are material to Ireland and PRD Ireland’s only remaining C
Slide 18: Leveraging Management Expertise
Leveraging Management Expertise 18
Slide 19: 2024 Outlook
2024 Outlook Moroccan Gas Trinidad Oil Exploration Upside FOCUS INITIALLY ON CNG DEVELOPMENT “MIDDLE SANDS” 8 – 10-year gas sales profile at up to 50 million cfg/day 120.5 bcf gross resources US$ c. 1,506 M gross revenue 19
Slide 20: Appendix
APPENDIX 20
Slide 21: ESG
ESG Engage Improve tracks Mud pit before Mud pit after 21
Slide 22: MOU-2 Re-evaluation Based on MOU-4 Drilling Results
MOU-2 Re-evaluation Based on MOU-4 Drilling Results MOU-4 Thin section Blue= porosity 22
Predator Oil & Gas Holdings — Proactive One2One Forum 14 March 2024 on 6ix