Beacon Energy PLC · LSE:BCE
Beacon Energy — Merger or Acquisition (December 2022)
20 slides from Beacon Energy's merger presentation, December 2022
Slide 1: Rhein Petroleum Acquisition
Rhein Petroleum Acquisition December 2022 | www.beaconenergyplc.com | Beacon Energy | Corporate Presentation |
Slide 2: Disclaimer
Disclaimer The content of information contained in these slides and any accompanying verbal presentation (together, the This Presentation or documents referred to in it contain forward-looking statements. These statements relate to “Presentation”) has not been approved by an authorised person within
Slide 3: Executive Summary – Rhein Petroleum acquisition
Executive Summary – Rhein Petroleum acquisition The acquisition of onshore production, Hessen 1. Cash generative production development, appraisal and exploration assets in Nördlicher Oberrhein Federal Current production Germany Erfelden / Republic of and clear path to Schwarzbach Germany payback (2
Slide 4: Synergy and rationale for the combination
Synergy and rationale for the combination FORMERLY • LSE AIM-listed clean, cash shell targeting cash • Private Company looking for access to capital to generative producing and development oil & gas develop its oil production, development, appraisal assets to build a self-funding platform for growth
Slide 5: Transaction details
Transaction details Beacon Energy to acquire Rhein Petroleum from Tulip Oil Holdings B.V. and Deutsche Rohstoff AG Consideration: • Rhein Petroleum shareholders Tulip Oil and DRAG to receive shareholding of 29.9% and 3.3% respectively in the enlarged share capital of Beacon Energy • Tulip Oil and DR
Slide 6: Business climate for E&P in Germany
Business climate for E&P in Germany German & European Energy Supply challenges • Russian gas supply severely compromised • Potential for an increased role for indigenous sources of energy Oil production in Germany dates to 1858 • Total 2021 domestic oil and gas production of ~120 kboe/d • Growing nu
Slide 7: Rhein Petroleum – operating capability and expertise
Rhein Petroleum – operating capability and expertise Rhein Petroleum - operator and non- Track Record from Discovery to Production operated partner active in onshore E&P in Germany over the past 10 years: • A lean team with a track record of exploration, appraisal, development and production operati
Slide 8: Near-term growth catalysts – Erfelden Development
Near-term growth catalysts – Erfelden Development Summary: Rhein Petroleum 100% Operator PBS • Historic production in Kuehkopf field from the PBS reservoir, operated by Exxon • Rhein Petroleum discovered oil in the Schwarzbach Main field in 2015, still in gh Hi production – peak production of 225 bo
Slide 9: Near-term work programme, timeline & triggers
Near-term work programme, timeline & triggers Indicative Work Programme Summary • £6m net equity raise to fund drilling, completion and bringing into production of SCHB-2 well • Cash generative producing and development oil & gas assets to build a self-funding platform for growth Erfelden – Stocksta
Slide 10: Medium-term growth catalysts - Steig Potential Development
Medium-term growth catalysts - Steig Potential Development Meletta PBS Summary: Rhein Petroleum 100% Operator • Steig oilfield discovered by Rhein Petroleum, oil tested from the Meletta and PBS • Independent CPR 2C net contingent resources of 1.62 mmbbls for the Meletta reservoir with a chance of de
Slide 11: Medium-term growth catalysts – Graben Potential Development
Medium-term growth catalysts – Graben Potential Development Cyrenen-Mergen Meletta Summary: Rhein Petroleum 60% Operator • Graben oilfield was discovered in 1959, and produced oil from 2 wells from the Cyrenen-Mergen and Meletta until 1963 • Independent CPR 2C net contingent resources in Graben East
Slide 12: Longer-term growth catalysts within the portfolio
Longer-term growth catalysts within the portfolio GRU Hamm Summary: Rhein Petroleum Operator all 100%; Feldschlag 60% • Portfolio of additional 5 prospects throughout the Rhein Graben licences • All defined on 3D seismic data targeting proven reservoirs • Weinheim 2U prospective resource (PR) of 180
Slide 13: Growth potential in Germany
Growth potential in Germany Modern completion Potential from consolidation and portfolio rationalisation in the sector technology allows for selective and multizone • Opportunity for consolidation as larger companies review materiality of asset size and scale production, artificial lift and coil tub
Slide 14: Economics: SGS Certification
Economics: SGS Certification Summary • Immediately cash generative Reserves case 2P/Best 3P/High •Summary Devex funded from cashflow €MM @ SGS oil price f/cst Reserves case 3.85MMbbl 2P/Best 5.82MMbbl 3P/High Immediately •• Free cash flowcash generative to fund developments at: Dev capex (real gross
Slide 15: Timetable and conditions
Timetable and conditions Completion of the Transaction is subject to, inter alia: • Certain regulatory consents and confirmations; • Approval by Tulip's shareholders at a general meeting; • Finalisation of the Placing; • Publication of an AIM Admission Document; and • Approval by Beacon Energy's sha
Slide 16: Summary – creating a solid growth platform
Summary – creating a solid growth platform • Potentially transformative and value accretive 2P Net Reserves of fields & 2C & 2U Net Risked Resources of prospects transaction in line with strategy to focus on proven with proven oil* Graben West resources and cash generative assets Risked 2U* Graben E
Slide 17: Advisers & Contact Details
Advisers & Contact Details Beacon Energy plc Nominated Adviser 55 Athol Street Strand Hanson Douglas Isle of M an Brokers IM 1 1LA Tennyson Securities Optiva Securities Limited T +44 (0)1624 681 250 Auditors Lubbock Fine E info@beaconenergyplc.com W info@beaconenergyplc.com Registrars Computershare
Slide 18: Rhein Petroleum Inventory (CPR)
Rhein Petroleum Inventory (CPR*) 2P Net Reserves of fields, Net Risked Resources of prospects with proven oil, Net Risked Resources of untested material prospects. Weinheim Buntsandstein Risked 2U Risked 2C 2P Weinheim CM+BNS+ME+PBS mmbbls Graben West Steig Buntsandstein Graben East Steig PBS Schwar
Slide 19: Erfelden – Schwarzbach Production facilities
Erfelden – Schwarzbach Production facilities | www.beaconenergyplc.com | Beacon Energy | Corporate Presentation | 19
Slide 20: Schwarzbach & Lauben Production facilities
Schwarzbach & Lauben Production facilities Schwarzbach Lauben • Unmanned oil producing facility currently producing from a single well • Unmanned oil producing facility currently producing from a single well • Construction is underway for the introduction of an additional 3 wells • The single well i
Beacon Energy — Merger or Acquisition (December 2022) on 6ix