United Oil & Gas Plc · LSE:UOG
United Oil & Gas — FY2022 Earnings Presentation
18 slides from United Oil & Gas's earnings presentation, Apr 27, 2023
Slide 1: 2022 Full Year Results
UNITED OIL & GAS 2022 FULL YEAR RESULTS 27 April 2023 WWW.UOGPLC.COM
Slide 2: Disclaimer
UNITED OIL & GAS 2 DISCLAIMER This presentation (“Presentation”) is being supplied to you solely for your assumptions. respective directors, officers, partners, employees or advisers or any other information. The Presentation has been prepared by, and is the sole Certain statements, graphs, tables a
Slide 3: 2022 Summary
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 3 2022 SUMMARY PORTFOLIO BOARD CHANGES DIRECTOR PURCHASES MANAGEMENT CORPORATE • Appointment of Peter Dunne, CFO • Total directors’ holding increased to • Receipt of $2.5m from sale of Crown >5% of issued share capital • Receipt of $2.5m(1) fro
Slide 4: Finance
2022 Full-year results | 27 April 2023 FINANCE PETER DUNNE - CFO
Slide 5: FY 2022 Financial Summary
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 5 FY 2022 FINANCIAL SUMMARY Realised Oil Price Realised Gas Price Group Revenue Cash Operating Cost Gross Profit ($/bbl) ($/mmbtu) ($m) Net of Government Take ($/boe) ($m) 96.0 12.9 19.2 10.3 68.9 15.8 12.3 2.63 2.63 5.9 2022 2021 2021 2020 202
Slide 6: Strong Cashflow with Reduction in Net Debt
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 6 STRONG CASHFLOW WITH REDUCTION IN NET DEBT $m 12.0 10.0 4.9 8.0 6.0 9.1 (3.0) 4.0 (0.4) 2.0 0.0 (5.6) 1.6 -2.0 (3.0) (1.1) -4.0 (1.5) (3.9) -6.0 Operating Cashflow Divestments proceeds Investment activities -… Financing costs Net Debt @ 31 De
Slide 7: 2023 Key Considerations
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 7 2023 KEY CONSIDERATIONS Strengthening Balance Sheet Forecast Capital Expenditure – FY 2023 Oil production leveraged to high commodity prices $4mdev. wells Egypt $1.9m Flexibility of Egyptian assets - with 2023 programme tailored to cashflows
Slide 8: Operations and ESG
2022 Full-year results | 27 April 2023 OPERATIONS and ESG Jonathan Leather, COO
Slide 9: Environment, Social & Governance
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 9 ENVIRONMENT, SOCIAL & GOVERNANCE Progress in 2022 Social Al Amal Mentoring JV contribution for Sponsorship of the Sponsorship of the Programme training and Energy4Her event Energy4me supporting education (2)(3) programme SOCIAL > 40 STUDENTS
Slide 10: At a Glance
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 10 AT A GLANCE UK A+D 8 producing fields PRODUCTION EGYPT P+D+A+E 23 DEVELOPMENT EXPLORATION producing wells APPRAISAL JAMAICA E 1,312 boepd 2022 net production P = Production; D = Development; A = Appraisal; E = Exploration
Slide 11: 2022 Egypt Operations Summary
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 11 2022 EGYPT OPERATIONS SUMMARY Abu Sennan Licence Area United are a 22% non-operating equity holder Activity Summary • ASD-2: Onstream in March 2022. Over 400,000 barrels produced to date • ASH-4: Onstream in November 2022 • Exploration: ASV-
Slide 12: Egypt 2023 Year-to-Date and Outlook
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 12 EGYPT 2023 YEAR-TO-DATE AND OUTLOOK Production enhancing activity Q1 Average Production Q1 Exit Rate 841 bopd net 1,275 bopd net (+170 boepd gas net) 2023 Activity ASH-8 onstream 6 weeks ahead of schedule at rates above expectations. Initial
Slide 13: Egypt Outlook 2024 and Beyond
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 13 EGYPT OUTLOOK 2024 AND BEYOND • Numerous targets identified across the concession • Potential from existing fields to maintain production for many years to come Abu Sennan Licence Area Abu Sennan Remaining Potential (mmboe net to United) Unr
Slide 14: Walton Morant, Jamaica
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 14 WALTON MORANT, JAMAICA World-class exploration opportunity • Key focus: bring in a partner to accompany United in drilling a basin-opening 100% well equity and operatorship in 22,400km2 licence • Number of companies actively conducting detai
Slide 15: Outlook
Full-year results | 2022 Full-year results | 27 April 2023 OUTLOOK Brian Larkin, CEO
Slide 16: Opportunity in the Changing Market Environment
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 16 OPPORTUNITY IN THE CHANGING MARKET ENVIRONMENT OPPORTUNITY UNITED’S APPROACH & HISTORY OF DELIVERY - Credible participants to push for safe and responsible transition 1. Energy Transition will require - Experienced board and strong governanc
Slide 17: Upcoming Key Events for 2023
UNITED OIL & GAS Full-year results 2022 | 27 April 2023 17 UPCOMING KEY EVENTS FOR 2023 Egypt Jamaica • Development drilling is currently underway at ASD-3; • Houston-based M&A advisory group engaged, looking to build on the success already achieved this targeting US companies and investment funds U
Slide 18: www.uogplc.com
2022 Full year results | 27 April 2023 WWW.UOGPLC.COM