Kistos Holdings Plc · LSE:KIST
Kistos — FY2023 Earnings Presentation
22 slides from Kistos's earnings presentation, May 2024
Slide 1: 2023 Full Year Results Presentation
2023 Full Year Results Presentation May 2024
Slide 2: Disclaimer
Disclaimer This presentation and its enclosures and appendices (the “presentation”) have been prepared by Kistos Holdings plc (the “Company”) exclusively for information purposes. This presentation has not been reviewed or registered with any public authority. This presentation is confidential and m
Slide 3: Key highlights
Key highlights Production Forecast by Area1 12 UK NL Norway Completed acquisition of Third acquisition and third country entry 2P Production Forecast, Kboe/d Mime Petroleum in May 2023 since 2020 incorporation 10 8 Completed acquisition of EDF’s Gas Storage Entry into the midstream energy sector, 6
Slide 4: Strategy
Strategy A proven track record of delivering against our objectives Our Journey Our People 33 OCT NOV MAY Employees across three countries 2020 2020 2021 Tulip Oil Our Natural Resources Incorporation 27.9 67.5 AIM Listing Acquisition mmboe mmboe APR MAY JUL Proved and probable Contingent 2024 2023 2
Slide 5: Financial highlights
Financial highlights 5
Slide 6: Income statement
Income statement Accounting for planned downtime and realised sales price 2023 2023 2022 2022 Unit (Actual) (Pro forma)1 (Actual) (Pro forma)1 Pro Forma Revenue Total production2 kboe 2,995 3,221 2,732 3,962 (€’000) Average production rate2 boepd 9,200 8,800 10,600 10,900 568,445 Revenue €'000 206,9
Slide 7: Balance sheet and capital structure
Balance sheet and capital structure Redeeming bonds to save interest costs and remove restrictive covenants Summary consolidated balance sheet (€’000) 31 December 2023 31 December 2022 Cash and cash equivalents 194,598 211,980 Tax receivables 80,409 - Other current assets 46,936 64,250 Non-current a
Slide 8: Cashflow
Cashflow Cash balances supported by strong cashflow and Norwegian tax rebate
Slide 9: Operational overview
Operational overview 9
Slide 10: Balder and Ringhorne (Norway)
Balder and Ringhorne (Norway) Prolific hydrocarbon province with proven production history Production Net production from the Balder (Kistos 10%) and Ringhorne (7.4%) fields in the period from acquisition to end-2023 averaged 2,500 boepd, with 22 wells producing oil Ten cargoes of crude was lifted f
Slide 11: Balder Future and Other Developments (Norway)
Balder Future and Other Developments (Norway) Prolific hydrocarbon province with proven production history Balder Future Balder Future project is targeting an additional c.140 MMboe from Balder and Ringhorne Drilling 14 new production wells plus 1 new water injector on the Balder field Vår Energi al
Slide 12: 2C and prospective resources (Norway)
2C and prospective resources (Norway) Substantial upside potential in the Balder / Ringhorne area Kistos Energy Norway 2C resources potential 2C resources Drilling will continue beyond the sanctioned plans to maximise value Additional wells and increased reservoir connectivity may increase the recov
Slide 13: Greater Laggan Area (UK)
Greater Laggan Area (UK) A world class set-up Producing assets Greater Laggan Area (“GLA”) Overview Production averaged 4,000 boepd, in line with expectations, despite unplanned outages due to compressor unavailability in March and a10-day outage following a heating medium pipework failure at the SG
Slide 14: Cheshire Gas Storage Facilities (UK)
Cheshire Gas Storage Facilities (UK) Expansion of UK portfolio and diversification of revenue streams Energy Storage in the UK Gas storage plays a fundamental role in the UK’s electricity generation market, contributing to the supply of energy in tandem with renewable sources of energy and acting as
Slide 15: Netherlands
Netherlands Safe, reliable and low-emission operations Q10-A producing field Q10-A production rates for the period averaged 2,700 boepd Production was impacted by planned maintenance and further downtime due to a compressor leak on the TAQA-operated P15-D platform Kistos is co-operating closely with
Slide 16: Sustainability
KISTOS j Sustainabilit a ee ml
Slide 17: Sustainability
Sustainability Maintaining an industry-low CO2 footprint Revised ESG goals for 2024 Caring for the environment Putting people first Achieve carbon neutrality for Scope 1 and 2 Achieve zero harm to workers annually in our offices and operated emissions by 2030. sites. Maintain zero operational spills
Slide 18: Outlook
Outlook 18
Slide 19: Investing in our future
Investing in our future Foothold in three attractive markets with considerable production and plentiful development workstreams Production Exploration and Mission profile development upside Actual production averaged 9.2 kboepd in 2023 Interests in various development Build shareholder value in a wa
Slide 20: Appendix
Appendix 20
Slide 21: Board of Directors
Board of Directors Andrew Austin – Executive Chairman Richard Benmore – Non-Executive Director Executive Chairman of RockRose from 2016 until 2020, 35 years industry experience with Conoco, Oryx Energy, Nimir delivering a 42x return to shareholders. Petroleum, EnCana, Nexen Petroleum and IGas. Joint
Slide 22: Management Team
Management Team Experienced leadership throughout the Group Andy Cosstick – Group Finance Director – Kistos Holdings plc Thomas Bendzko – Drilling Director – Kistos NL2 • Qualified as a Chartered Accountant with KPMG • 30+ years industry experience in Europe and the Middle East • 13+ years working i