Reabold Resources Plc · LSE:RBD
Reabold Resources — Corporate Update (November 2020)
19 slides from Reabold Resources's corporate update, November 2020
Slide 1: Victory Gas Discovery - Block 207/1a
Victory Gas Discovery - Block 207/1a November 2020
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) is being supplied by Reabold Resources Plc (the “Company”) to you for information purposes only. This Presentation has been prepared by and are the sole responsibility of the Company. The directors of the Company have taken all reasonable care to ensure
Slide 3: Disclaimer continued
Disclaimer continued The Company is not responsible for providing regulatory and legal protections afforded to customers (as defined in the rules of the Financial Conduct Authority) nor for providing advice in relation to the contents of this Presentation on any matter, transaction or arrangement re
Slide 4: Introduction
Introduction Block 207/1a Offer – Victory Gas Discovery – Fully appraised and proceeding to development • Securing the Victory Gas Discovery (“Victory”) as part of the 32nd offshore round has been transformational for Corallian • The licence containing Victory has been offered 100% to Corallian, in
Slide 5: Block 207/1a – Victory Gas Discovery – Reabold 34.9%
Block 207/1a – Victory Gas Discovery – Reabold 34.9% • Reabold believes Victory to be amongst the lowest risk of development projects offered in the 32nd Round and one of the best remaining undeveloped assets in the UKCS • Block 207/1a contains the Victory Gas Discovery, approximately 80 kms NW of S
Slide 6: Cartoon x-section of the Victory gas field
Cartoon x-section of the Victory gas field (Chevron June 2018) 5
Slide 7: 207/1-3 Victory discovery petrophysics
207/1-3 Victory discovery petrophysics • Corallian CPI calibrated with the 112 ft (34 m) of core from Wells 207/1-3 and 207/1a-5 • The discovery well 207/1-3 intersected 225 ft of Lower Cretaceous Victory sandstones, of which an estimated 190 - 205 ft are net pay • The reservoir was gas bearing to b
Slide 8: Well correlation of the Victory Formation reservoir
Well correlation of the Victory Formation reservoir 1 5 1 3 5 207/1-3. Core 2. 3 2 1,331 – 1,332m MD. Unit V3. 207/1-3. Core 3. 2 Goodchild 1,393m MD Very porous sandstone, oil stained. Gneiss. Oil stain in et al 1997 Ø 30 – 32%; K 600 – 800 mDarcy Closed fractures. 7
Slide 9: Arbitrary Line through key wells identifying seismic surfaces
Arbitrary Line through key wells identifying seismic surfaces A A’ 8
Slide 10: Victory Resource Assessment – Field Development Area
Victory Resource Assessment – Field Development Area Victory productive field area Arbitrary Strike Line through 207/1-3 and 207/1a-5 Wells showing the Victory accumulation 9
Slide 11: Victory reservoir gas responses on the seismic data
Victory reservoir gas responses on the seismic data Strong peak (soft) black amplitude response at top reservoir indicates gas charged reservoir Polarity flip at top reservoir from Strong trough (hard) red amplitude peak to trough evidence of fluid response at base reservoir contact represents hard
Slide 12: SLR Contingent Resource Estimate for the Victory Discovery
SLR Contingent Resource Estimate for the Victory Discovery Summary of Gas In Place Parameter P90 P50 P10 Pmean GIIP, BCF 141 211 311 220 Summary of Contingent Resources Parameter 1C 2C 3C Gas, BCF 105 157 236 11
Slide 13: Gas production profile and composition
Victory gas composition and production profile Victory Tie-back Gas Production Profile GLA field average well data 80000 Gas production in million cubic feet per day 70000 70000 70000 70000 Victory 1 well 60000 plateau of 70 56000 50000 mmscf/d and 3 44800 year duration 40000 35840 calibrated agains
Slide 14: Victory Development Scheme
Victory Development Scheme GLA / Greater Laggan Area Gas development: subsea Tie-back to Sullom Voe • The Laggan-Tormore (Operator Total) pipeline takes unprocessed gas to the Shetland Gas Plant (SGP), located near Sullom Voe • From the SGP liquids are transported by an 8” pipeline to Sullom Voe oil
Slide 15: Victory project schedule
Victory project schedule VICTORY 2020 2021 2022 2023 2024 Project Phases & Milestones Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Licence Award Select Phase (Pre-FEED studies) Pre-FEED CPR completion Define Phase (FEED studies) FEED Environmental Statement Submit FDP / FID & FDP approval Exec
Slide 16: Victory development economics & cash flow
Victory development economics & cash flow Summary of Victory Development Economics (base case) * Excludes offset of Corporate tax losses Gas Price (p/therm), UK NBP 15
Slide 17: Victory development economic sensitivity analysis
Victory development economic sensitivity analysis 16
Slide 18: Summary
Summary • Fully-appraised, single-well sub-sea tie back gas development opportunity • Independently assessed (SLR) 2C resources 157 BCF (1C-3C range 105-236 BCF), contingent only on project delivery • No further drilling required except for the development well • Existing infrastructure 18kms from d
Slide 19: Reabold Resources plc
reabold resources plc dp