Reabold Resources Plc · LSE:RBD
Reabold Resources — Investor Presentation (January 2021)
21 slides from Reabold Resources's investor presentation, January 2021
Slide 1: Reabold Resources plc – January 2021
reabold resources plc dp January 2021
Slide 2: Warning Disclaimer
Warning Disclaimer • This presentation and any additional documents handed out at any meeting (together the “Presentation Materials”) are being supplied to you for information purposes only by Reabold Resources Plc (the “Company” or “Reabold”) in connection with the proposed placing of new ordinary
Slide 3: Warning Disclaimer
Warning Disclaimer Neither the Company, nor its advisers accept liability whatsoever for any loss howsoever arising, directly or indirectly, from use of these Presentation Materials or their contents or otherwise arising in connection therewith. The Company, in its sole discretion, reserves the righ
Slide 4: Board, Management and Advisors
Board, Management and Advisors Stephen Williams – co CEO Sachin Oza – co CEO • 17 years’ experience in the energy sector • 18 years’ investment experience • M&G Investments, energy investment • M&G Investments, global Oil & Gas sector analyst - 2010 to 2016 investment analyst – 2003 to 2016 • Simmon
Slide 5: Portfolio Overview
Portfolio Overview • Four distinct project areas across the UK, Romania and California West Newton (UK) Corallian (UK) • 56% ownership in key UK onshore project • 36.9% ownership of Corallian, offshore UK • Reabold has a c.59% equity interest in project operator • Recently awarded the Victory gas de
Slide 6: PEDL183 – West Newton Discovery
PEDL183 – West Newton Discovery • PEDL 183, located near Hull on the North East PEDL 183 – West Newton Discovery coast of England, holds the West Newton discovery • Two wells at West Newton confirm a major conventional oil and gas discovery in the Kirkham Abbey formation • Potentially one of the lar
Slide 7: West Newton – B-1 / B-1Z Appraisal Well
West Newton – B-1 / B-1Z Appraisal Well • A-2 well was a significant discovery in the Kirkham Abbey formation, with a gross oil column of c.45m and gross gas column of c.20m. Field further appraised with West Newton B-1 well and B-1Z sidetrack • Initial penetration into Kirkham Abbey ‘slope’ setting
Slide 8: Excellent Seismic Calibration across West Newton
Excellent Seismic Calibration across West Newton Seismic Interpretation - B-1 / B-1Z West Newton W E Structure N Fordon Anhydrite A Wells Kirkham Abbey Kirkham Abbey Platform B-1 Well Path B Wells Hayton Anhydrite B-1Z Well Path Visual orientation Kirkham Abbey Slope • West Newton B-1 originally tar
Slide 9: An Excellent Log Result at A-2… but even better at B-1Z
An Excellent Log Result at A-2… but even better at B-1Z • A-2 well demonstrated excellent log results, however, initial petrophysical analysis suggests B-1Z is even better • Preference is therefore to test B-1Z ahead of testing at A-2 A-2 Well B1-Z Well 1 Porosity • Good contiguous porosity througho
Slide 10: B-1Z Core Image
B-1Z Core Image • 18 metres of core taken from the B1-Z Fracturing / Micro-fracturing exhibited in B-1Z Kirkham Abbey Core well 360 deg. Core photos 1768.76m – 1769.76m • Core analysis provides confirmation of visible fracturing / micro-fracturing • Further analysis (poro perm) ongoing • Core analys
Slide 11: Significantly De-Risked Upside Potential
Significantly De-Risked Upside Potential • B1-Z also de-risks additional prospectivity on the license beyond the West Newton field • Numerous additional leads and prospects identified across the licence • Additional work across licence expected following testing programme and drilling of B-2 well, i
Slide 12: West Newton Forward Plan
West Newton Forward Plan • Two discovery wells awaiting test (A-2, B-1/B-1Z) • Planned to commence in February 2021 but subject to ongoing uncertainty around Covid based operational restrictions • Planning permission in place to drill an additional well from the B location, expected in Q3 this year
Slide 13: Victory Gas Discovery – Fully Appraised & Proceeding to Development
Victory Gas Discovery – Fully Appraised & Proceeding to Development • Block 207/1a containing Victory awarded 100% Cartoon X-Section of the Victory Gas Field to Corallian, in which Reabold has a 36.9% interest • Victory is a simple, low-risk, gas sub-sea tieback development to local infrastructure,
Slide 14: Victory Gas Discovery Petrophysics
Victory Gas Discovery Petrophysics • Corallian logs calibrated with the 112 207/1-3 Victory Discovery Petrophysics feet (34 metres) of core from wells 207/1-3 and 207/1a-5 • Discovery well 207/1-3 intersected 225 feet of Lower Cretaceous Victory sandstones, with 190-205 feet of net pay estimated • T
Slide 15: Victory Formation Seismic Line & Key Wells
Victory Formation Seismic Line & Key Wells • Good seismic correlation with: ̶ Top and base of Victory formation ̶ Direct hydrocarbon indicators at the inferred gas water contact ̶ Wells drilled • Excellent seismic will further de-risk Victory development A Top Victory Formation A’ Amplitude Shut Off
Slide 16: Potential Victory Development Scheme
Potential 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 Sul
Slide 17: Danube Petroleum - Parta, Onshore Romania
Danube Petroleum - Parta, Onshore Romania • Reabold has invested £5M into Danube Petroleum for its 50.8% equity interest Net to Danube Net to RBD Prospective Resources 49.9 bcf 25 bcf • Danube holds 100% in license in Western Romania Well Cost ($M) $5.6M $2.8M Development Capex ($M) $11.7M $5.9M • P
Slide 18: Reabold California
Reabold California • Reabold’s 100% owned subsidiary, Reabold California, has three licence areas: ̶ West Brentwood 50%; ̶ Monroe Swell 50%; and ̶ Grizzly Island to earn in 50% after drilling 1 well • Five wells drilled to date, all resulting in discoveries and brought onto production • Self-funded
Slide 19: Use of Proceeds
Use of Proceeds • Proposed fundraise of £5.0m - £7.5m in order to provide incremental capital, in addition to existing cash resources, to fund: • West Newton appraisal, including B-2 well drilling and testing • Potential Victory gas development costs to reach FDP in late 2021 • Accelerated activity
Slide 20: Placing Timetable and Contacts
Placing Timetable and Contacts Principal Events Estimated Timing Marketing 25 Jan – 27 Jan 2021 Accelerated Bookbuild Launch Announcement 4.45pm on 27 Jan 2021 Closing Announcement Before 8am 28 Jan 2021 Trade Date 28 Jan 2021 Settlement & Admission 1 Feb 2021 Ashton Clanfield Alex Topouzoglou ashto
Slide 21: Reabold Resources plc
reabold resources plc dp
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