Europa Oil & Gas (holdings) Plc · LSE:EOG
Europa Oil & Gas (holdings) — Proactive One2One Investor Forum 2024
19 slides from Europa Oil & Gas (holdings)'s conference presentation, May 29, 2024
Slide 1: Europa Oil & Gas
Europa Oil & Gas Proactive One2One Investor Forum 29 May 2024 www.europaoil.com | AIM: EOG | @Europa Oil & Gas plc | @Europaoilandgas
Slide 2: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION The informati
Slide 3: Overview - Europa Oil & Gas (Holdings) plc
Overview - Europa Oil & Gas (Holdings) plc Europa is building a balanced portfolio of producing, appraisal and exploration assets with minimal emissions within the net zero context Assets throughout the cycle with significant upside and multiple catalysts 1) Producing assets generating significant r
Slide 4: Wressle - Key Cash Generator
Wressle - Key Cash Generator Cloughton • Wressle has one of the highest production rates in the UK PEDL343 onshore • Gross revenue from Wressle of US$47.5m since August Crosby Warren 2021 (net c.$14.25m to EOG)1 DL001 • Wressle gas solution and subsequent additional revenues: Wressle Phase 1 online
Slide 5: Wressle: Further Development
Crosby Wressle: Further Warren-1 PEDL 182 Broughton North Prospect2 Development Crosby Warren East Penistone Flags – 0.3mmbbls 0 km 2 Ashover Grit – 0.3mmbbls Broughton North Wressle-1 Pad Europa 100% Broughton-1 Egdon 30% Europa 30% Union Jack 40% Wressle-1 Egdon 30% PEDL 180 Downhole Europa 30% Un
Slide 6: Wressle Development
Wressle Development • Drill two new production wells, drilled back to back • First well to target Penistone Flags • Gas exported to local gas network 600m from site • Existing site to be extended 50m • Install gas processing equipment • Planning approval expected Q2 2024 • Environment Agency approva
Slide 7: Cloughton – PEDL 343
Cloughton – PEDL 343 • Discovered in 1986 • Carboniferous sandstones with excellent salt seal • Simple 4-way anticline • Flowed up to 28,000 scft/d • Flow potential 6 mmscf/d1 • Sweet gas >98% methane/ethane • GIIP Pmean 192 bcf1 • Pad location identified, HOT agreed • Planning and Environmental pro
Slide 8: Serenity Development Options
Serenity Development Options • Oil discovery at well 13/23c-10 announced October 2019 by i3 Energy • Drilled down-dip of Tain oil field (32° API oil, flow-tested 6,270 BOPD & 1.6 MMSCFD) • S1 well encountered 31.7o oil (11ft) in Upper Captain sands (30% porosity). Matches the oil from Tain and Blake
Slide 9: FEL 4/19 - Prospectivity & Way Forward
FEL 4/19 - Prospectivity & Way Forward • FEL 4/19 held 100% by Europa • Inishkea West is a 1.5 TCF ILX prospect, a Corrib play and structural analogue • Targeting exploration well 2025/26 • Very low emissions intensity – FEL 4/19 gas is forecast to be 2.8 kgCO2e/boe1 • Inishkea West has potential to
Slide 10: Inishkea & Inishkea West
Inishkea & Inishkea West • Inishkea West (1.5 TCF Pmean) prospect • Same world-class Triassic gas play as Corrib gas field • 4-way closure • 18 km from Corrib infrastructure Prospective Volumes (BCF Prospective Resource) • Reprocessed seismic has improved imaging Prospect P90 P50 Pmean P10 and reduc
Slide 11: Ireland's Annual Gas Supply & Demand
Ireland’s Annual Gas Supply & Demand • Installed gas turbine power generation is 4,405 MW. Total capacity by 2027 will be 8,558 MW, representing 78% of all Ireland electricity supply. • 2023 Security of Supply Review highlighted the vulnerability of Ireland to a failure of Interconnector in gas supp
Slide 12: Equatorial Guinea – Low Risk Exploration
Equatorial Guinea – Low Risk Exploration • EOG has a 42.9% interest in Antler Global Limited (“Antler”) • Antler has 80% WI in EG-08 • EG-08 has 3x ILX prospects with 1.386 BCF (Pmean) • A farm-out process to begin imminently 12
Slide 13: Low Risk Exploration
Low Risk Exploration ‘A’ Prospect W Seismic A Line through B Gas Condensate Prospect A Discovery in – Note C brightening adjacent block at over same stratigraphic structure. horizon Export Pipeline to LNG plant Amplitude Extraction on Far Offset Data – Amplitude Extraction on Far Offset Data – Prosp
Slide 14: Compelling AVO Story in EG-08 proven by fields in adjacent block
Compelling AVO Story in EG-08 proven by fields in adjacent block Block EG-08 Block O & I • Compelling AVO story • Several discoveries in next • Bright amplitudes evident in door block to EG-08 with far-offset seismic data at essentially identical far-offset Prospects A, B & C amplitudes as seen in •
Slide 15: Volumetrics & Risk to Commercialisation
Volumetrics & Risk to Commercialisation Prospect A Prospect B Prospect C Prospective Resources Total Pmean mid-case Low Case Mid Case Mid Case Mid Case Prospective Resource P90 202 290 163 66 = 1,386 BCFE • All figures in BCFE (billion cubic feet equivalent) P50 426 686 365 186 • EOG internal figure
Slide 16: EG-08 Summary
EG-08 Summary • High quality, low risk and potentially high reward gas ILX1 opportunity • All three prospects can be drilled from a single well with 2 side tracks at a cost of ~US$50mm • Prospects are straightforward to drill. Wells would be around 2,800m deep in shallow water (jack up territory) •
Slide 17: New Ventures
New Ventures • Value driven • Target the best deals for EOG ▪ Opportunity cost in both staff time (G&A) and EOG financial resources • New opportunities measured against: ▪ Strategic fit to EOG portfolio ▪ Match to EOG core skillset ▪ Materiality – significantly move EOG valuation ▪ Risk – acceptable
Slide 18: What Drives Share Price?
What Drives Share Price? EOG - 3 year chart 18
Slide 19: Questions?
Questions? Alen Production Facilities – First Gas July 2013 www.europaoil.com | AIM: EOG | @Europa Oil & Gas plc | @Europaoilandgas
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