Slide 1: 2024 Interim Results Presentation
2024 Interim Results Presentation 25 September 2024 1
Slide 2: Disclaimer
Disclaimer Disclaimer This presentation and its enclosures and appendices (the “presentation”) have been prepared by Kistos plc (the “Company”) exclusively for information purposes. This presentation has not been reviewed or registered with any public authority. This presentation is confidential and
Slide 3: Key highlights
H124 highlights Key highlights Another period of portfolio growth Completed Supportive fiscal regime H1 2024 actual FY 2024 production acquisition of EDF’s in Norway provides for production rate of guidance of UK gas storage 71.8% rebate in case of 8.4 kboepd 7.5 – 8.5 kboepd incurred loss business
Slide 4: Strategy at a glance
Our strategy Strategy at a glance Generating value across the upstream and midstream markets Accelerated growth Accelerating growth by pursuing value-accretive M&A deals. Our Journey A flexible mandate allows us to capitalise on overlooked opportunities outside the traditional E&P model. OCT NOV MAY
Slide 5: Financial review
KISTOS Financial review
Slide 6: Income statement
Financial review Income statement Managing production downtime and weaker sales prices, while diversifying revenue with gas storage assets Actual production decreased by 7% year-on-year versus 1H23 pro forma production. This reflected a natural decline in 1H24 1H23 1H23 the UK and Netherlands plus p
Slide 7: Balance sheet and capital structure
Financial review Balance sheet and capital structure Strong balance sheet and access to liquidity to continue funding existing developments and provide access to new opportunities Unrestricted cash at the period end decreased due to the settlement of 2022 UK tax liabilities, cash consideration paid
Slide 8: Operational highlights
Operational highlights 8
Slide 9: Balder Area
Norway Balder Area New wells increasing Balder production 1H24 net production: 2,800 boepd Production from the Balder, Ringhorne and Ringhorne Øst fields increased by 65% YoY. This reflected the increased number of wells onstream versus 1H23. Production efficiency also increased from 82% in 1H23 to
Slide 10: Hill Top and Hole House
United Kingdom Hill Top and Hole House Diversification of revenue streams 1H24 intrinsic seasonal trade: $4.3 million1 Completed acquisition of EDF’s onshore gas storage business in Cheshire, UK, for £25 million. This deal is in line with our strategy to pursue opportunities that align with the ener
Slide 11: Greater Laggan Area
United Kingdom Greater Laggan Area Progressing developments to extend field life 1H24 net production: 3,400 boepd Net production was above expectations at an average rate of 3,400 boepd. 1H24 included a planned 21-day shutdown of the SGP, which was completed safely and on time. Average realised gas
Slide 12: Q10-A area
The Netherlands Q10-A area Undertaking planned and unplanned maintenance 1H24 net production: 2,200 boepd Net production from Q10-A was 2,200 boepd compared to 3,100 boepd in 1H23. Output was adversely impacted by an unplanned 2-week shutdown and natural decline. Average realised gas prices fell by
Slide 13: Outlook
Outlook 13
Slide 14: Looking ahead
Outlook Looking ahead A diversified and balanced platform for organic and inorganic growth Our Journey Our Future OCT NOV 2020 2020 Acquisitions Growth Incorporation AIM Listing AIM Listing Completed 4 acquisitions in 4 24% uplift in Hill Top working years, further M&A appetite in capacity, with pla
Slide 15: Kistos plc
Kistos plc 2nd Floor 3 St James’s Square London SW1Y 4JUA United Kingdom 15