Reabold Resources Plc · LSE:RBD
Reabold Resources — Investor Presentation (June 2018)
17 slides from Reabold Resources's investor presentation, June 2018
Slide 1: Reabold Resources plc
reabold resources plc dp
Slide 2: Disclaimer
Disclaimer These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in the Company nor shall they or any part of them form the basis of or be relied upon in any manner or for
Slide 3: Introduction
Introduction Management Stephen Williams Sachin Oza • 15 years’ experience in the • 17 years’ investment experience energy sector • Investment analyst at M&G • Analyst roles across buy and sell Investments from 2003-2016 side • Investment analyst at Tokyo • Industry experience with Exxon Mitsubishi
Slide 4: Company Strategy
Company Strategy A unique strategy focused on shareholder return to exploit current market conditions Reabold Strategy Relative to Industry • Translate quality assets into highly • Preference for producing assets - positive investor returns entry price limits returns • Fund low risk appraisal projec
Slide 5: Strict Criteria for Project Investment
Strict Criteria for Project Investment GEOLOGY: • Projects substantially de-risked from a technical perspective • Existing regional production and historic discovery wells • Running room to turn smaller projects into substantial regional businesses ECONOMICS: • Projects deliver extremely attractive
Slide 6: Investments
Investments • Three sets of projects to date: • Gaelic – California conventional**** • Corallian - 3 key projects in the UK • Danube - Romania appraisal • $374M NPV in current portfolio • 6 wells planned over next 6 months • All independent & transformational ^ Integrity Mngt Solutions Estimate ** C
Slide 7: Reabold California
Reabold California • Reabold will acquire Gaelic Resources for shares - 12.86% of enlarged company • Reabold will have the right to earn 50% in 3 licenses in California by drilling 5 wells. • Redevelopment programme is to commence imminently • 3 new wells planned by year end with the first one start
Slide 8: Reabold California
Reabold California Monroe Swell Monroe Swell; substantial prior production Structure Map • Currently redeveloping existing wells • NPV* up to $10M net to Reabold • Drilling summer 2018 and H1’19 • Targeting >4M bbls • NPV* up to $100M net to Reabold West Brentwood; substantial prior production West
Slide 9: Corallian Energy Investment
Corallian Energy Investment • Reabold invested £2.5M into Corallian Rapid Value Creation Following Energy for 32.9% equity stake Reabold Investment • Corallian acquired UK oil & gas licences in 2015 - limited commercial activity prior to Reabold’s investment • Multiple farm outs achieved soon after
Slide 10: Corallian Energy Project 1: Colter Appraisal Well
Corallian Energy Project 1: Colter Appraisal Well • Fully funded Colter well drilling H2’18 • Corallian will drill at c.50% equity Wytch Farm Colter • UK oil discovery, first drilled in 1986 • Three historic wells penetrated the structure, all finding oil Purbeck • Adjacent to the prolific Wytch far
Slide 11: Corallian Energy Project 2: Wick Well, Inner Moray Firth
Corallian Energy Project 2: Wick Well, Inner Moray Firth • Following RBD funding, Corallian farmed out Wick for full carry at 25% interest • Subsequently exercised option to participate at 40% • Structure immediately up-dip of developed Lybster Field • High relief structure brings large upside – pos
Slide 12: Danube Petroleum Project 1: Parta, Onshore Romania
Danube Petroleum Project 1: Parta, Onshore Romania • £1.5M invested in Danube Petroleum to earn a 29% stake • Danube is 100% owner of the Parta appraisal programme and 50% owner of the rest of the Licence • Reabold investment funds first well of two well appraisal programme • Proven and stable hydro
Slide 13: Further investments
Further investments • Roll out strategy across additional transformational projects • Several potential projects have been substantially matured – all with near term drilling and highly favourable economics • Projects technically derisked, have limited drilling costs, and ready access to infrastruct
Slide 14: Summary
Summary • Exploiting market dislocation which offers high quality assets at low valuations • Management has proven execution ability and stimulated industry transactions in invested projects at accretive values • Innovative model focused on generating return to shareholders • Significant institution
Slide 15: Reabold Resources plc
reabold resources plc dp
Slide 16: Sources
Sources The technical information and resources estimates provided in this presentation in relation to the projects in which Reabold has invested have been extracted from the presentations and technical data provided to Reabold by the operating companies in which Reabold has invested. That data has
Slide 17: Corallian Energy Potential Appraisal Project: Oulton
Corallian Energy Potential Appraisal Project: Oulton • Undeveloped oil field estimated to contain 20M bbls of oil recoverable with an upside P10 of >50M bbls* • Discovery made in 1974 by Amoco; 3/11-1 well tested up to 1,500 bopd from Jurassic Emerald sandstone • Potential development via two produc
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