Cadogan Energy Solutions plc · LSE:CAD
Cadogan Energy Solutions — Cadogan Petroleum — Investor Presentation (April 2016)
21 slides from Cadogan Energy Solutions's investor presentation, April 2016
Slide 1: Cadogan Petroleum PLC April 2016
CADOGAN PETROLEUM PLC April 2016
Slide 2: Important Notice
These presentation materials do not constitute or form part of any offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities nor shall they or any part of them form the basis of or be relied upon in connection with any contract or commitment whatsoever.
Slide 3: Highlights
UK incorporated and listed on the London Stock Exchange (market cap. £22.82 million(1)) Established E&P Company in Ukraine; 9 on-shore licences(2), with a combined area of approximately 1052 km2 in the Dnieper Donets and Carpathian basins. ‒ Current average production of 124 boepd ‒ 3P Reserves
Slide 4: Highlights
Among largest private investors in Ukrainian E&P sector with > US$500+ million invested over the last 10 years Growing gas trading activity which generated net profits in excess of US$ 1,5 millions both in H2 2014 and in H1 2015 Strong balance sheet with cash and cash equivalent of US49 millio
Slide 5: Assets
Kyiv Corporate Headquarters Ukraine E&P Head Office Gas trading Business Services E&P Cadogan licenses Shale gas licenses in JV with Eni ASSETS 5
Slide 6: Assets: Western Ukraine
Western Ukraine Bityanska license; License renewed until November 2019 •Shallow and deep (Oligocene) exploration targets Monastyretska license; License renewed until November 2019 •48 bopd of oil production •Low risk exploration and appraisal potential Slobodo-Rungurska license •Oil exploratio
Slide 7: Assets: Eastern Ukraine
Eastern Ukraine Pirkovska license • Prospects and leads identified in the Permian • Re-application for 20-years period Zagoryanska license; Expired. •Re-application for 20-year period Pokrovska license •Prospects and leads identified in the Permian Carboniferous E&P Cadogan licenses Shale gas
Slide 8: E&P Business: Reserves & Resources
Reserves & Resources (MMboe) (gross) Current 2C Best estimate Working gross 3P Licence Type Area (km2) contingent prospective Expiry date interest production reserves(1) resources resources(2) (boepd) Monastyretska Oil 99.2 26 48 4.4 0.6 0.2 Nov. 2019 Debeslavetska Gas 99.2 27 60 0.2 - 0.1 Nov. 2016
Slide 9: Licence activity plans, Eastern and Western Ukraine
Licence Activity Re-entry of two existing wells Eastern Ukraine Pokrovska Farm-out for full carry on exploration drilling Secure renewal of licence Pirkovska Re-entry of one existing well Farm-out of for full carry on the exploration drilling Secure renewal of licence Zagoryanska Re-en
Slide 10: Oil Services Business
Cadogan’s services business – “Astro-Service” provides specialised services to oil & gas operators in Ukraine including: ‒ Well permitting and land allotment; ‒ Well site and road design and construction; ‒ Drilling, work-over and servicing; ‒ Waste management and cuttings/fluid disposal; and ‒ Wa
Slide 11: Oil Services Business
Wide range of subcontractor agreements in place and partnership networks with local contractors. Partnering or agent agreement with international service providers such as Medes Srl, AVA/Newpark, Hydrodrilling, Tecom and Mitch. Portfolio of contracts worth > US$5 million for 2016. EBITDA in
Slide 12: Partners
CADOGAN PETROLFUM PIC E&P and Service A HYDRO DRILLING Sr. wh M=D=S x2 uc PARTNERS 12
Slide 13: Gas Trading Business
Established a viable, growing gas trading business over the last 19 months. Over 250 million m3 of gas sold in the first year of trading. Trading segment a major contributor towards Company’s cash neutrality having generated net profits in excess of $1.5 million both in 2014 and in H1 2015.
Slide 14: Strengths
Solid financial position (cash ca. $49 million)* Well positioned in Ukraine; able to balance international standards with local practices and context Qualified operator with technical excellence; drilled > 5000m deep wells at competitive time and cost HSE performances: over 2.2 million man-h
Slide 15: Partners: Key Gas Trading Clients
Key Gas Trading Clients PARTNERS 15
Slide 16: Strategy
Our goal Return value to shareholders by realizing the upside of undervalued assets, primarily at mature exploration stage. Our strategy Leverage management experience to source additional E&P assets to diversify Cadogan’s portfolio both geographically and operationally. ‒ Add production: Source
Slide 17: Corporate Overview
Corporate Snapshot Top Shareholders Ticker CAD -LN Shareholder No. (M) % Outstanding Listing type LSE Standard Main Market SPQR Capital Holdings SA 67,298,498 29.12% Domicile UK P Salik Esq. 40,550,000 17.55% Shares in issue 231,091,734 M Meeus Esq. 26,000,000 11.25% Options/warrants in issue [] CA
Slide 18: Corporate Overview
Listed on the London Stock Exchange, Main market Trading symbol CAD 231,091,734 ordinary shares issued at £0.03 each Share price of 8.88GBp Market cap of £22.82M The listed Ukrainian E&P company that has shown stability and outperformed peers during a period of political unrest and globa
Slide 19: Board and Management
Zev Furst – Chairman Guido Michelotti - Chief Executive Officer Gilbert Lehmann - Senior Independent NED See more See more See more Adelmo Schenato - Chief Operating Officer Bertrand des Pallieres - Chief Trading Officer Chicco Testa - Independent NED See more See more See more Michel Meeus - Non-Ex
Slide 20: Local Management Team
Igor Delov – General Director Andrey Belyi – Deputy Technical Director See more See more Taras Ivanysenko – Group Director of Finance Marta Halabala – Company Secretary See more See more 20
Slide 21: Contact
Cadogan Petroleum plc 48/50A Zhylyanska Street 01033 Kyiv, Ukraine +38 (044) 594 5870 info@cadoganpetroleum.com CONTACT 21
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