Union Jack Oil Plc · LSE:UJO
Union Jack Oil — Investor Presentation (May 2020)
22 slides from Union Jack Oil's investor presentation, May 2020
Slide 1: Investor Presentation
UNION JACK OIL plc AIM: UJO Investor Presentation May 2020 PRODUCTION, DRILLING, DEVELOPMENT AND INVESTMENT IN THE UNITED KINGDOM ONSHORE CONVENTIONAL HYDROCARBON SECTOR
Slide 2: Disclaimer
Disclaimer Whilst all reasonable care has been taken to ensure that the facts stated in these slides and this presentation are accurate and that the forecasts, opinions and expectations contained in these slides and this presentation are fair and reasonable, the information contained in this documen
Slide 3: Union Jack Investment Summary
Union Jack Investment Summary • Low-risk onshore strategy focused on conventional drill-ready projects and value creation • Balanced portfolio of production, development, appraisal and exploration projects • Portfolio activity generates near-term news flow and value drivers • The West Newton apprais
Slide 4: Union Jack’s Conventional Onshore Focus
Union Jack’s Conventional Onshore Focus – balanced portfolio • Operations exclusively located in the established UK onshore East Midlands Province and Humber Basin • Assembled a balanced portfolio of licence interests – Production, development and exploration – Low-risk and low-cost onshore strategy
Slide 5: Near-term News Flow and Value Drivers
Near-term News Flow and Value Drivers – active in material projects West Newton A-1 and A-2 discoveries (16.665%): PEDL183 – significant liquid and gas development opportunity • Environment Agency approval received for the recommencement of well testing at West Newton A-2 • Work commenced on B-1 dri
Slide 6: PEDL183 West Newton
PEDL183 West Newton – two significant hydrocarbon discoveries PEDL183 West Newton A-1 and A-2 Discoveries 16.665% Interest 10km Discovery Oil Field/Discovery Prospect 6
Slide 7: West Newton A-2 Discovery Well Site
West Newton A-2 Discovery Well Site 7
Slide 8: West Newton A-2 Appraisal Well Result
West Newton A-2 Appraisal Well Result – significant liquids component identified • Substantial hydrocarbon accumulation within a gross 65 metre interval encountered in the primary target, the Kirkham Abbey formation • Significant liquids component identified from core and logging data • Environment
Slide 9: West Newton Hydrocarbon Discoveries
West Newton Hydrocarbon Discoveries – proximity to existing markets, pipelines and infrastructure 9
Slide 10: West Newton Hydrocarbon Discoveries
West Newton Hydrocarbon Discoveries – numerous marketing and sale options Natural Gas Power Stations • Two major UK gas terminals located on licence • PEDL183 is in close proximity to gas-fired electric – Dimlington (Perenco operated) generation facilities with a combined generation capacity of over
Slide 11: West Newton Hydrocarbon Project
West Newton Hydrocarbon Project – a compelling project technically and financially • UJO acquired a 16.665% interest in the PEDL183 licence area, containing the compelling West Newton A-1 hydrocarbon discovery, on attractive terms • Two significant onshore hydrocarbon discoveries, West Newton A-1 an
Slide 12: West Newton Upgraded In Place Volumetrics
West Newton Upgraded In Place Volumetrics – Base Case and Upside Case (gross) Liquids Gas Case (mm bbl) (bcf) Base Case 146.4 211.5 Upside Case 283.0 265.9 Source: Operator data Note: In place volumetrics estimated according to SPE PRMS standard methodology 12
Slide 13: PEDL180 / PEDL182 Wressle Oil Discovery
PEDL180 / PEDL182 Wressle Oil Discovery – first oil anticipated H2 2020 PEDL182 Broughton North Prospect 27.5% Interest PEDL180 PEDL182 Wressle Discovery 27.5% Interest 10km Gas Field Oil Field/Discovery Prospect 13
Slide 14: Wressle Reserves and Initial Development Plan
Wressle Reserves and Initial Development Plan – estimated 500 bopd gross and significant cash flow • Gross P Mean Oil Initially In Place (“OIIP”) is 14.18* MMbbl – Across three reservoir sands: Ashover Grit, Wingfield Flags and Penistone Flags – 2.15* MM bbl are potentially recoverable (2P+2C) • Gro
Slide 15: Wressle Contingent Resources
Wressle Contingent Resources – substantial upside in 2C Contingent Resources • Wressle Reserves and Initial Development Plan exclude any future contribution from the material Penistone Flags 2C Resources • Penistone Flags has 2C* oil and gas Contingent Resources of 1.53 MMbbl and 2.0 bcf (gross) • G
Slide 16: Wressle-1 Discovery Well
Wressle-1 Discovery Well – Reserves, Contingent Resources and composite well log Gross Volumes Oil Gas Oil Equiv PENISTONE FLAGS MMstb bcf MMboe 15.9 metre pay 2P Ashover Grit and DST 89 bopd, 35° API 0.62 0.20 0.65 and 1.7 mmcfd Wingfield Flags EWT 180 bopd 2C Penistone Flags 1.53 2.00 1.86 Brought
Slide 17: PEDL253 – Biscathorpe
PEDL253 – Biscathorpe – untested major prospect and Dinantian Discovery PEDL253 Biscathorpe Prospect 27.5% Interest 10km Gas Field Oil Field/Discovery Prospect 17
Slide 18: Biscathorpe Prospect
Biscathorpe Prospect • Future sidetrack well planned from the existing Biscathorpe-2 well bore • The Basal Westphalian Sandstone “play” was not tested at the Biscathorpe-2 appraisal well • Additional oil saturations in the Dinantian Carbonates over an interval in excess of 150 metres indicate proxim
Slide 19: Biscathorpe-2 Drilling
Biscathorpe-2 Drilling UNION JACK PPPs nl Peter PANTY PVT 97 1 OY hy NPA NIA hich,
Slide 20: Union Jack Oil Investment Overview
Union Jack Oil Investment Overview • Low-risk onshore strategy focused on conventional drill-ready projects and value creation • Balanced portfolio of production, development, appraisal and exploration projects • Portfolio activity generates near-term news flow and value drivers • The West Newton ap
Slide 21: Contacts
Contacts David Bramhill, +44 (0) 78 0154 0358 Executive Chairman SP Angel Corporate Finance LLP +44 (0) 20 3470 0470 Nominated Adviser and Broker Richard Hail Cassiopeia Services Ltd +44 (0) 7949 690 338 Public Relations Stefania Barbaglio 21
Slide 22: 6 Charlotte Street Bath BA1 2NE
6 Charlotte Street Bath BA1 2NE England Telephone: + 44 (0) 1225 428139 Facsimile: + 44 (0) 1225 428140 Email: info@unionjackoil.com Website: www.unionjackoil.com