Jadestone Energy Plc · LSE:JSE
Jadestone Energy — Investor Presentation (April 2018)
24 slides from Jadestone Energy's investor presentation, April 2018
Slide 1: Investor Presentation April 2018
Investor Presentation April 2018
Slide 2: Disclaimer & advisories
Disclaimer & advisories Disclaimer You must read the following before continuing. The following applies to this document, the presentation of the information in this document, and any question-and-answer session that may follow (collectively, the "Presentation"). In viewing the Presentation, you agr
Slide 3: Advisories: Forward Looking Statements
Advisories Forward Looking Statements Information Certain statements in this presentation are forward looking statements and information (collectively “forward looking statements”), within the meaning of the applicable Canadian securities legislation, as well as other applicable international securi
Slide 4: Advisories
Advisories l "Operating netback" is a common non-GAAP metric used in the oil and gas industry. This measure assists management and investors to evaluate the specific operating performance by product at the oil and gas lease level. Operating netback is calculated as realised price less royalties, ope
Slide 5: Overview of Jadestone Energy
Overview of Jadestone Energy
Slide 6: Jadestone Energy, corporate overview
Jadestone Energy, corporate overview Overview and Snapshot Highlights Financial Statement extract As at, US$mm Sep-17 Sep-16 l Upstream oil & gas in Asia Pacific Cash 19.6 1.1 l Deep experience in-region Total assets 221.5 113.5 l 4,300—4,800 boe/d production from Stag Book equity 107.8 111.2 & Ogan
Slide 7: Three key messages
Three key messages The right assets, the right people, the right opportunities l Gas at fixed prices ~US$6/mmbtu Generating free l ~60% of Stag’s production hedged at ~US$65/bbl cashflow today Resilient cash generating business today with Stag cash break-even c.US$39/bbl and Ogan Komering below US$1
Slide 8: Jadestone Energy portfolio overview
Jadestone Energy portfolio overview Snapshot Select blocks, ordered by expected commercialisation1 W.I. 2P 2C Target production Block (%) (mm boe) (mm boe) Operator (net WI) / status SC57 Australia 17.8 100% N/A Jadestone 3,000-3,500bbl/d 127 - Stag (100%) 1 05-1b&c2 Indonesia Reserves estimated JOB
Slide 9: Stag update
Stag update Growing high-value production, potential for a reserves upgrade Stag quarterly production and operating costs Pricing bbl/d Prior Operator US$mm l 2017 prices averaged US$1/bbl Brent 3,500 25 premium H,I l ~60% of 2018 production hedged 20 A 3,000 B E,F,G — 350,000 bbls at US$64.60/bbl i
Slide 10: Ogan Komering update
Ogan Komering update Stable resilient production levels and a 25-30% drop in opex Ogan Komering quarterly production and operating costs Progress/participation beyond Feb 28, 2018 bbl/d Oil Gas Opex US$mm l Six month temporary extension of PSC 1,600 3.0 granted from Mar 1, 2018 to allow for 1,400 si
Slide 11: Ogan Komering outlook
Ogan Komering outlook Value delivery under the new PSC Existing discoveries ready to be developed Value delivery under new Gross Split PSC1 l Progress early development of existing gas discoveries — Jantung Baru, North Meraksa, Bandar Agung ~100 bcf (gross) l Exploration upside N Meraksa — P50 prosp
Slide 12: Jadestone's Southwest Vietnam gas
Jadestone’s Southwest Vietnam gas UM/ND gas will be commercialised via the same route as TLM’s PM-03 Malay Basin detail of Jadestone’s Southwest Vietnam gas Select comments l Nam Du and U Minh discoveries are ~23km apart in adjacent Jadestone blocks Planned pipeline l Immediately to the north of Tal
Slide 13: Efforts to commercialise Nam Du and U Minh continue
Efforts to commercialise Nam Du and U Minh continue Jadestone is now accelerating our preferred standalone development solution Field development plan (FDP) Outline Reserve EPC, development FEED, assessment drilling, plan EPCI bid conditioning report (RAR) installation (ODP) Gas sale agreement (GSA)
Slide 14: Future Asia-Pacific opportunities
Future Asia-Pacific opportunities Focus on basins where we can deploy our skills to unlock trapped value Jadestone Energy core focus area Select comments l Potential M&A opportunities must meet Near sanction project providing Jadestone’s strict threshold acquisition infrastructure hub combined crite
Slide 15: New leadership
New leadership Paul Blakeley brings a wealth of knowledge and experience to Jadestone with a very impressive track record running Talisman’s APAC business Talisman Asia Pacific production l Jadestone Energy is led by Paul Blakeley, who ran Talisman’s Asia Pacific business from 2005 and spent the pri
Slide 16: Management's track record of value creation
Management’s track record of value creation Asia-Pacific focused strategy with a proven business model to create exceptional value History of value creation 1,200 2.3x Value creation levers Step-out exploration 4.8x 2.7x Commercial 1,000 Improved recovery Appraisal 800 Project execution Incumbent /
Slide 17: Core management team
Core management team Paul Blakeley’s leadership is augmented by a management team with significant operational and technical experience Experience Core management Previous employers Experience (years) Paul Blakeley 36 CEO Michael Horn 26 EVP Corporate and Business Development Dan Young 22 CFO David
Slide 18: Appendix Additional Materials
Appendix Additional Materials
Slide 19: Jadestone Energy strategic focus
Jadestone Energy strategic focus APAC strategic focus with a proven business model and resilient Balance Sheet Focused approach Value creation Balanced portfolio Prioritise margin Balanced portfolio of Focus on select core areas in improvement and accretive production and APAC, a region with growing
Slide 20: Attractive value vs peers
Attractive value vs peers Valuation compares favourably on reserves, production and cash flow metrics. The development projects should provide further superior long-term growth Firm Value/2P Reserves, US$/boe Firm Value/EBITDA 2018E 15 10.0x 8.0x 10 6.0x 4.0x 5 2.0x 0 0.0x Peer 2 Peer 1 Peer 3 Peer
Slide 21: Southeast Asia is a highly compelling energy market
Southeast Asia is a highly compelling energy market High GDP growth rates, growing gas deficits, rising gas prices, and leading global E&P margins High growth outlook, GDP CAGR 2017—2019 % Significant growth of natural gas demand, bcf/d GDP growth US$/boe 2017—2019E, % 15 8 Confirmed domestic supply
Slide 22: Jadestone Energy investment case
Jadestone Energy investment case A strategy that works, a high value portfolio, and a plan for value accretive growth l Management team with proven abilities to add value and world class second phase specialisation A strategy that l Objectives aligned with shareholders works l A focus on efficiency,
Slide 23: Reserves & production
Reserves & production Stag’s 2P reserves increased by over 3.5mm bbls from July 2016, including production Select comments 2P Reserves1 and 2C Resources2 net to Jadestone, mmboe mmbbls l Stag’s 2P reserves at acquisition estimated at 14.6mm bbls 100% oil 2P Reserves1, March 2017 (GCA) 20 6 18 l 2P r
Slide 24: The evolution of Vietnam's domestic gas market
The evolution of Vietnam’s domestic gas market Established market price US$7-9+/mmBTU Vietnam wellhead gas pricing, US$/mmBTU US$/mmBTU Gas Sales Contracts Heads of Agreement 14 10-12 12 10 9-10 8 Established market price US$7-9+/mmBTU 6 4 2 0 Lan Tay/ Lan HT/MT Thai Binh Thien Ung CRD (2016) SV-DN
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