Union Jack Oil PLC · LSE:UJO
Union Jack Oil — Investor Presentation (February 2018)
45 slides from Union Jack Oil's investor presentation, February 2018
Slide 1: Corporate Presentation
UNION JACK OIL plc AIM: UJO Corporate Presentation February 2018 Production, Drilling, Development and Investment in the United Kingdom Onshore Hydrocarbon Sector
Slide 2: Disclaimer
Disclaimer This presentation, and any supplemental information (written or oral) or other documents provided in connection therewith (collectively, the “materials”), are provided solely for the information of those being presented to and may not be distributed, published, reproduced or otherwise dis
Slide 3: Union Jack Investment Summary
Union Jack Investment Summary • Low-risk onshore strategy focused on drill-ready projects and value creation • Balanced portfolio: production, development, appraisal and exploration • Portfolio activity generates near-term news flow and value drivers • Positioned to deliver growth: in reserves, prod
Slide 4: Near-term News Flow and Value Drivers
Near-term News Flow and Value Drivers – UJO involved in a number of attractive projects PEDL180/182 – Wressle discovery (15%) • New development application to be submitted by April 2018 • Attractive development project with oil production of 500 bbls/d (gross) expected: UJO interested in increasing
Slide 5: Strategy Focused On Value Creation
Strategy Focused On Value Creation – low-cost, low-risk onshore UK E&P model • Strategic Objective: create shareholder value by building a successful UK onshore E&P company and growing risked asset value per share – The Board believe the full-cycle costs associated with UK onshore E&P activity remai
Slide 6: Conventional Low-Cost Onshore Focus
Conventional Low-Cost Onshore Focus – production, development and exploration drilling • Experienced corporate and technical team • Listed on AIM: UJO • Assembled a balanced portfolio of twelve production, development and exploration licence interests all based onshore UK – Wressle-1 discovery (PEDL
Slide 7: Union Jack Board
Union Jack Board – experienced corporate, commercial and technical team David Bramhill, Executive Chairman David has over forty years of experience in the natural resources industry. He has consulted for several companies including; Shell, Petrofina, British Petroleum, Premier Oil and Saxon Oil via
Slide 8: PEDL180 / PEDL182 Wressle Oil Discovery (15%)
PEDL180 / PEDL182 Wressle Oil Discovery (15%) – project expected to produce 500 bbl/d oil gross PEDL182 Broughton North Prospect 15% Interest PEDL180 PEDL182 Wressle Discovery 15% Interest 10km Gas Field Oil Field/Discovery Prospect 8
Slide 9: Wressle Development Next Steps
Wressle Development Next Steps – progressing new planning application • PEDL180 and PEDL182 licences are in Lincolnshire in the established East Midlands producing province – On trend with nearby discoveries at Crosby Warren, Brigg and Broughton • Licences contain the Wressle-1 discovery that produc
Slide 10: Wressle Oil Discovery
Wressle Oil Discovery – testing at the Wressle-1 discovery 10
Slide 11: Wressle Reserves Report
Wressle Reserves Report – Competent Persons Report by ERC Equipoise • Oil and gas Reserves and Contingent Resources identified by the Competent Person in aggregate exceed the Operator’s original pre-drill estimates • Gross P Mean Oil Initially In Place (“OIIP”) is 14.18 million stock tank barrels in
Slide 12: Wressle Contingent Resources
Wressle Contingent Resources – substantial Contingent Resources also identified • Substantial Contingent Resources have also been confirmed by the Competent Person in the Penistone Flags reservoir at Wressle that are over and above the oil and gas Reserves identified in the Ashover Grit and Wingfiel
Slide 13: Wressle Reserves and Contingent Resources
Wressle Reserves and Contingent Resources – gross and net attributable to Union Jack Gross Volumes Net Volumes attributable to Union Jack Oil Equiv Oil Equiv Oil MMstb Gas bcf MMboe Oil MMstb Gas bcf MMboe 2P Ashover Grit and Wingfield Flags 0.62 0.20 0.65 0.09 0.03 0.10 2C Penistone Flags 1.53 2.00
Slide 14: Wressle-1 Discovery Well
Wressle-1 Discovery Well – composite well log Penistone Flags 15.9 metre pay DST 89 bopd, 35° API and 1.7 mmcfd EWT 180 bopd Wingfield Flags 5.1 metre pay DST 182 bopd, 39° API and 0.46 mmcfd Ashover Grit 6.1 metre pay DST 80 bopd, 39 ° API and 0.47 mcfd 14
Slide 15: Wressle-1 Discovery Well – well site testing operations
Wressle-1 Discovery Well – well site testing operations 15
Slide 16: PEDL182 Broughton North Prospect (15%)
PEDL182 Broughton North Prospect (15%) – prospect mapped on same high quality 3D seismic • The acquisition of further interests in PEDL180 and PDL182 affiliates two prospective licence areas, already demonstrated by the Wressle-1 oil and gas discovery • Broughton North Prospect mapped on high qualit
Slide 17: Broughton North Prospect – Prospective Resources
Broughton North Prospect – Prospective Resources on the Wressle licence • The Broughton North Prospect has OIIP of 3.43 million stock tank barrels, gross unrisked Mean Prospective Resources of 0.51 million stock tank barrels and 0.51 bcf of gas in aggregate across two reservoir sands, the Ashover Gr
Slide 18: PEDL253 Biscathorpe: Prior Discovery (12%)
PEDL253 Biscathorpe: Prior Discovery (12%) – large drill-ready prospect with planning consent PEDL253 Biscathorpe Prospect 12% Interest 10km Gas Field Oil Field/Discovery Prospect 18
Slide 19: Biscathorpe: Prior Discovery
Biscathorpe: Prior Discovery – large drill-ready prospect with planning consent • PEDL253 is within the proven hydrocarbon fairway of the South Humber Basin – On trend with the Saltfleetby gasfield, Keddington oilfield and the Louth and North Somercotes prospects • The Biscathorpe-1 well drilled by
Slide 20: Biscathorpe: Prior Discovery
Biscathorpe: Prior Discovery – large drill-ready prospect with planning consent Saltfleetby South Elkington Keddington Prospect Louth Prospect Biscathorpe Prospect Structurally high ridge along which are the Saltfleetby and Keddington fields. Biscathorpe is located at the west end of this ridge. Lou
Slide 21: Biscathorpe Sands Expected to Thicken Down-dip
Biscathorpe Sands Expected to Thicken Down-dip – topographic map of the Dinantian surface Biscathorpe-2 Biscathorpe-1 Slope created by a fault. Sand expected to thicken down this slope 21
Slide 22: Biscathorpe Sands Expected to Thicken Down-dip – seismic line
Biscathorpe Sands Expected to Thicken Down-dip – seismic line Dinantian structure map Biscathorpe-1 Slope created by a fault. Biscathorpe-2 location Sand expected to proposed site thicken down this slope. 22
Slide 23: Biscathorpe Volumetrics
Biscathorpe Volumetrics Volumetric P90 P50 P10 Mean Input / Output (100%) STOIIP (mmbo) 7.52 29.50 142.00 56.00 Prospective Resources 1.84 7.30 35.30 14.00 (mmbo) Trap presence 80.00% • Principal risk relates to thickness of Trap Effectiveness 80.00% ‘basal’ unit at proposed Biscathorpe-2 location R
Slide 24: Biscathorpe Potential 'Mega' Trap
Biscathorpe Potential ‘Mega’ Trap – Dinantian structure map Potential ‘mega’ trap area based on large structural nose 24
Slide 25: Biscathorpe Sand Thickening 'Concept' Confirmed
Biscathorpe Sand Thickening ‘Concept’ Confirmed – the independent review supports the ‘mega’ trap play Sotwell Exploration Ltd’s independent review of 3D seismic / G&G on the proposed Biscathopre-2 well location reported that: • The Biscathorpe-2 ‘concept’ of the thickening of the ‘basal’ unit was c
Slide 26: PEDL143 Holmwood Prospect (7.5%)
PEDL143 Holmwood Prospect (7.5%) – attractive Weald Basin prospect in UJO’s portfolio PEDL143 Holmwood Prospect 7.5% Interest 10km Gas Field Oil Field/Discovery Prospect 26
Slide 27: Holmwood-1 High-Impact Exploration
Holmwood-1 High-Impact Exploration – planning consent and expected activity in 2018 • Holmwood-1 is a high-impact exploration well with planning consent and is expected to be drilled during 2018 • The Operator estimates the unrisked gross mean prospective resources to be 5.6 million barrels with a g
Slide 28: EXL294 Fiskerton Airfield Oilfield (20%)
EXL294 Fiskerton Airfield Oilfield (20%) – producing oilfield with upside potential EXL294 Fiskerton Airfield Oilfield 20% Interest 10km Gas Field Oil Field/Discovery Prospect 28
Slide 29: EXL294 Fiskerton Airfield Oilfield
EXL294 Fiskerton Airfield Oilfield – site work underway and evaluating upside potential • Ongoing activity over oilfield – Workovers underway on wells FA-1 and FA-3 – Re-processing of 3D seismic data to identify further production opportunities – Initial interpretations of 3D exercise expected H1 20
Slide 30: Fiskerton Airfield Oilfield – established production facilities
Fiskerton Airfield Oilfield – established production facilities 30
Slide 31: Fiskerton Airfield Oilfield – 3D seismic re-processing area
Fiskerton Airfield Oilfield – outline extent of 3D seismic re-processing area EXL294 Fiskerton Airfield Oilfield 20% Interest 31
Slide 32: PEDL118/203 Dukes Wood/Kirklington (16.67%)
PEDL118/203 Dukes Wood/Kirklington (16.67%) – production potential being investigated PEDL118 Dukes Wood Discovery 10km 16.67% Interest Gas Field Oil Field/Discovery Prospect PEDL203 Kirklington Discovery 16.67% Interest 32
Slide 33: PEDL118/203 Dukes Wood/Kirklington
PEDL118/203 Dukes Wood/Kirklington – production potential being investigated • Kirklington-3Z well currently shut-in and will be production ready following proposed remedial works to site equipment and production decision • Various studies ongoing to evaluate completion and enhanced recovery options
Slide 34: PEDL005(R) Keddington Oilfield (20%)
PEDL005(R) Keddington Oilfield (20%) – producing asset with attractive prospects defined PEDL005(R) Louth Prospect 20% Interest PEDL005(R) North Somercotes Prospect 20% Interest PEDL005(R) Keddington Oilfield 10km 20% Interest Gas Field Oil Field/Discovery Prospect 34
Slide 35: Keddington Oilfield
Keddington Oilfield – producing asset with attractive prospects defined • Licence holds significant upside potential – Seeking to maximise the value of the "Greater Keddington" area – Currently being independently mapped by Sotwell Exploration Limited on behalf of Union Jack – Results to date sugges
Slide 36: Keddington Oilfield – producing oilfield facilities
Keddington Oilfield – producing oilfield facilities 36
Slide 37: Keddington and Louth Prospect Structures
Keddington and Louth Prospect Structures – Dinantian Two-Way-Time (“TWT”) map Louth Structure Production wells 1400 ms TWT 37
Slide 38: Keddington and Louth Prospect Structures
Keddington and Louth Prospect Structures – Dinantian TWT map showing well clusters / structures Louth Structure 1400 ms TWT NORTH Production wells 38
Slide 39: Keddington and Louth Prospect Structures
Keddington and Louth Prospect Structures – identified on seismic line / mapping EAST WEST Keddington Louth Structure NORTH 39
Slide 40: PEDL201 Burton on the Wolds (10%)
PEDL201 Burton on the Wolds (10%) – significant unconventional prospectivity PEDL201 Burton on the Wolds 10% Interest 10km Gas Field Oil Field/Discovery Prospect 40
Slide 41: Burton on the Wolds – significant unconventional prospectivity
Burton on the Wolds – significant unconventional prospectivity • PEDL201 is in the onshore UK East Midlands Petroleum Province – Situated on the southern margin of the Shale Map of UK Widmerpool Gulf • Molten Limited completed a report reviewing the shale resource potential of PEDL201 – Mean determi
Slide 42: Union Jack Investment Summary
Union Jack Investment Summary • Low-risk onshore strategy focused on drill-ready projects and value creation • Balanced portfolio: production, development, appraisal and exploration • Portfolio activity generates near-term news flow and value drivers • Positioned to deliver growth: in reserves, prod
Slide 43: Corporate information
Corporate information • Listed on AIM: 31 July 2013 • Advisers – SP Angel Corporate • Shares in Issue: Finance LLP: Nominated Adviser and Joint – 4,333,063,205 ordinary shares of Broker 0.025p each – 51,407,842 warrants in issue – Turner Pope Investments (TPI) Ltd: Joint Broker • Contact info@unionj
Slide 44: Glossary
Glossary 3D Seismic M / Mbbl / Mboe A set of numerous closely-spaced seismic lines that provide a high Thousand (1x103) / thousand barrels of oil / thousand barrels of oil spatially sampled measure of subsurface reflectivity equivalent B/ Bcf mcfd Billion (1x109) / billion cubic feet of gas Thousand
Slide 45: 6 Charlotte Street Bath BA1 2NE
6 Charlotte Street Bath BA1 2NE England Telephone: + 44 (0) 1225 428139 Facsimile: + 44 (0) 1225 428140 Email: info@unionjackoil.com Website: www.unionjackoil.com
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