Finder Energy Holdings Limited · ASX:FDR
Finder Energy — Investor Presentation (August 2024)
28 slides from Finder Energy's investor presentation, Aug 8, 2024
Slide 1: Transformational Acquisition of Discovered Oil Fields
Transformational Acquisition of Discovered Oil Fields PSC 19-11 Timor-Leste Investor Presentation 8 August 2024 ASX : FDR
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This document has been prepared by Finder Energy Holdings Limited securities laws. Please refer to the section of this document headed Investment risk information in this document is based on, and fairly and accurately (ACN 656 811 719) (Finder or Company) in relation
Slide 3: Acquisition Highlights
Acquisition Highlights Transformational acquisition with discovered Kuda Tasi 16 MMbbl Karungu 49 MMbbl oil fields and pathway to development Jahal 6 MMbbl • Transforms Finder into balanced explorer and developer Lanjara/SW • High-equity (76%) and operatorship puts Finder in control to 35 MMbbl PSC1
Slide 4: Discovered oil fields plus appraisal and exploration upside
Discovered oil fields plus appraisal and exploration upside Contingent and Prospective Resources1 180 10 22 Oil – MMbbl Kuda Tasi & Jahal Undeveloped Oil Fields • 5 wells – appraised, logs, core & well tests 160 26 Discovered • Light high-quality oil - >55 API and Appraised • Excellent reservoir qua
Slide 5: Acquisition Terms
Acquisition Terms Attractive entry cost with deferred payments on achieving project milestones • Finder has entered into Sale and Purchase Agreements (SPAs) with each of Eni and Inpex (Sellers) to acquire a 76% interest in, and operatorship of, PSC 19-11 Interests1 PSC 19-11. Transaction • Eni SPA -
Slide 6: Strategic Drivers
Strategic Drivers 1 Timor-Leste adds geographic diversity to portfolio Dili Timor-Leste • Stable, developing nation whose future prosperity is closely Abadi tied to development of its oil and gas resources Sunrise Australia Barossa • Strong support from the Government and TIMOR GAP Blackwood Evans S
Slide 7: Laminaria High, a prolific oil province
Laminaria High, a prolific oil province Dili Proven oil province Timor-Leste Karungu Kuda Tasi • 17 discoveries from 35 exploration PSC 19-11 Jahal wells Darwin Laminaria/ Lanjara/SW • 6 oil fields, >270 MMbbl oil produced Corallina 185 MMbbl Kitan PSC 19-10 Australia Buffalo PSC 19-11 • Premium lig
Slide 8: Development Strategy
Development Strategy Kuda Tasi and Jahal Development Project FPSO Objective – achieve FID and First Oil quickly and cost-effectively • Kuda Tasi and Jahal fully appraised with well production tests • Same high quality Laminaria/Elang formation reservoir and excellent high API gravity ~400m water dep
Slide 9: Indicative Project Timeline and Milestones
Indicative Project Timeline and Milestones 2023 2024 2025 2026 2027+ Completion Project Resource Project FEED FDP FID FID First Updates Certification Economics Approval Ready Oil ASX Execute Dev. Project Dev. Area FDP Project Production Announcements SPA Update Approval Submission 2P Reserves Execut
Slide 10: Entitlement Offer
Entitlement Offer Entitlement Offer provides shareholders limited downside risk and exposure to a range of upside opportunities across Finder’s diverse portfolio • a 1 for 1.26 pro-rata non-renounceable Entitlement Offer at $0.048 per new share to raise up to approximately $6.0 million (before costs
Slide 11: Timetable
Timetable Event 2024 – Date and Time1 Announcement of Acquisition and Entitlement Offer Thursday, 8 August “Ex” date Monday, 12 August Record Date for the Entitlement Offer 5 pm (Perth), Tuesday, 13 August Issue of Offer Booklet and Entitlement Offer opens Friday, 16 August Entitlement Offer closes
Slide 12: Use of Funds
Use of Funds Funds raised will be used to meet acquisition costs and technical work program expenditure to progress Kuda Tasi & Jahal towards FID Use of Funds A$m Technical Work Program Completion payment1 3.1 3D seismic reprocessing of the 2005 Ikan 3D Technical work program2 2.0 • Modern high-end
Slide 13: Corporate Snapshot (ASX:FDR)
Corporate Snapshot (ASX:FDR) Pro forma Capital Structure Pre-Equity Raising Post Equity Raising Shares on issue1 157.5m 282.5m Performance Rights2 20.1m 20.1m Broker & Director Options3 6.7m 6.7m Net cash4 $6.4m $12.2m Market capitalisation5 $9.3m Enterprise Value $2.9m EV/MMbbl (net 2C)6 $0.06/bbl
Slide 14: Acquisition Highlights
Acquisition Highlights Discovered Oil Transformation Multiple value- New Country Diversification Fields & Acquisition creation pathways Entry exploration upside Attractive entry Pure explorer to 45 MMbbl 2C + Partial divestment, Supportive cost developer 116 MMbbl Pmean technology, government & oil
Slide 15: Technical Appendix Contingent & Prospective Resource Table
Technical Appendix Contingent & Prospective Resource Table
Slide 16: PSC 19-11 Contingent & Prospective Resources
PSC 19-11 Contingent & Prospective Resources Contingent Resources (Evaluation Date 8 August 2024) Prospective Resources (Evaluation Date 8 August 2024) Contingent Resources Unrisked Prospective Resources Oil (MMbbl) Oil (MMbbl) PSC Name Status PSC Name Status Gross (100%) Net Working Interest (Finde
Slide 17: UK and Australia Exploration Portfolio Update & Resource Tables
UK and Australia Exploration Portfolio Update & Resource Tables
Slide 18: UK North Sea – ILX Exploration Portfolio Update
UK North Sea – ILX Exploration Portfolio Update Finder licence P2610 (50%) Prolific Central North Sea Location Production N • Recent Labour fiscal changes have narrowed 40 km platform focus to large scale resources/high margin ILX FPSO Gina Krog prospects P2655 (100%) Claymore • Finder’s ILX strateg
Slide 19: Australia - key positions in prolific basins
Australia - key positions in prolific basins Prolific NWS acreage Northern Carnarvon Basin Vulcan Sub-basin WA-547-P (100%) Phoenix Proven Play Oliver Phoenix surrounded by full- • 508 MMboe over 3 key prospects1 South Roc to-spill discoveries • Along trend from Dorado Discovery Dorado Pavo Audaciou
Slide 20: Finder UK Licences – Contingent & Prospective Resources
Finder UK Licences – Contingent & Prospective Resources Contingent Resources Table Notes/Reference: 1. Refer ASX announcement 27 June 2023 P2530 Contingent and Prospective Contingent Resources Resources, UK Central North Sea for details and methodology used for the resource Licence Name Status Inter
Slide 21: NWS Australia - Prospective Resources
NWS Australia - Prospective Resources NOTES: • The Prospective Resources and methodology for their estimation is set out in Unrisked Prospective Oil Resources (MMstb) Annexure F of the Prospectus dated 25 February 2022. Permit Equity Prospect COS (%) 1U (Low) 2U (Best) Pmean 3U (High) • The Prospect
Slide 22: Key Risks
Key Risks
Slide 23: Key Risks
Key Risks This section discusses some of the risks associated with an laws, could lead to the revocation of Finder’s permits and licences mitigate this risk by, among other things, taking out appropriate Finder does not have producing assets and generates cash flow investment in Finder. Finder’s bus
Slide 24: Key Risks
Key Risks Changes to these requirements (including, for example, new and Finder may suffer reputational damage. problems and system disruptions, including possible appropriately dealt with, therefore there is a risk that unforeseen requirements relating to climate change, environmental Longreach vot
Slide 25: Key Risks
Key Risks Exploration and development activities may require protracted Historical liabilities below or above the Offer Price. the demand for Finder’s products and its ability to conduct negotiations with host governments, local governments and Following completion of the Acquisition, Finder may bec
Slide 26: Foreign Selling Restrictions
Foreign Selling Restrictions
Slide 27: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of New Shares in any jurisdiction distributed in the Province, and only by persons permitted to sell such purchaser within the time limit prescribed by the securities legislation of the in which it would be unlawful. In part
Slide 28: www.finderenergy.com
+61 8 9327 0100 info@finderenergy.com www.finderenergy.com
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