Seascape Energy Asia PLC · LSE:SEA

Seascape Energy Asia — Longboat Energy — Investor Presentation (December 2019)

16 slides from Seascape Energy Asia's investor presentation, December 2019

  1. Slide 1: Longboat Energy: Creating a full-cycle North Sea E&P company

    Longboat Energy Creating a full-cycle North Sea E&P company Corporate Presentation, December 2019

  2. Slide 2: Disclaimer

    DISCLAIMER These materials do not constitute or form any part of any offer or invitation to sell or issue or purchase or subscribe for any shares in Longboat Energy plc (the “Company”) nor shall they or any part of them, or the fact of their distribution, form the basis of, or be relied on in connec

  3. Slide 3: Introduction: Creating a Full-Cycle North Sea E&P

    Introduction Longboat Energy launched by the successful former Faroe Petroleum management team  Team has delivered significant value for shareholders at Faroe Petroleum Experienced Faroe realised  A proven ability to execute transformational asset deals including swapping discovered 1 resource (2C

  4. Slide 4: Experienced Board with a Proven Track Record

    1 Experienced Board with a Proven Track Record A team that has delivered significant value for shareholders Executives Non-Executives Helge Hammer Jonathan Cooper Graham Stewart Chief Executive Officer Chief Financial Officer Non-Executive Chairman  COO of Faroe Petroleum since entry  CFO of Faroe

  5. Slide 5: Faroe Petroleum Created Significant Shareholder Value

    1 Faroe Petroleum Created Significant Shareholder Value Proven model, value created for shareholders through a combination of M&A, exploration and operational excellence Delivering value to shareholders  Sold for £642m to DNO in January 2019  Substantial uplift in value for shareholders with sale

  6. Slide 6: Longboat Energy: Replicating the Success of Faroe

    1 Longboat Energy: Replicating the Success of Faroe Building a full-cycle E&P Exploration  74 mmboe discovered between 2013-2018 with at least one top 5 discovery in 7 out of 8 years  World class finding costs of $1.1/boe (post-tax) – 20% below the NCS average Significant discoveries: Iris/Hades,

  7. Slide 7: Norwegian Oil and Gas Industry is Thriving

    2 Norwegian Oil and Gas Industry is Thriving Opportunity to establish and grow a new independent Exploration success lifts Norway to top tier in Norway will be at the heart of the uptick, with discovered resources drilling expected to reach pre-downturn levels Huge remaining resources Total Resource

  8. Slide 8: Activity Levels in the UK Remain High

    2 Activity Levels in the UK Remain High Successful exploration and significant development activity UK performs favourably – Leading on Exploration is back in the UK... We expect the returns, payback, break-evens and value UK sector to see between 10-15 wells this year Very significant remaining res

  9. Slide 9: Market Opportunity

    2 Market Opportunity A gap in the market for LBE following recent market consolidation Significant (and ongoing) exits from the North Sea by established players, with assets largely picked up by PE-backed vehicles  North Sea PE capital is primarily focused on producing assets of scale and major dev

  10. Slide 10: Positioned to Access Attractive Deals

    3i Positioned to Access Attractive Deals Longboat’s excellent relationships across the industry provide access to deal opportunities Respected and experienced management team with a track record of adding value  Excellent relationships with industry players, governments and regulatory authorities (

  11. Slide 11: Creating Value from Acquired Assets

    3i Creating Value from Acquired Assets Longboat will leverage its operational and geological expertise to extract incremental value from acquisitions Right assets right hands Case Study  Target assets are likely to be non-core to existing owners, Acquisition of NCS assets from providing opportuniti

  12. Slide 12: Indicative Target Assets

    3i Indicative Target Assets Approach to Acquisitions  Use team’s industry knowledge and relationships to take a focused approach to identify specific target acquisitions  Initial acquisitions to create a sustainable and scalable platform  Possibility of funding initial acquisitions through a comb

  13. Slide 13: Value Creation through the Drill-Bit

    3ii Value Creation through the Drill-Bit Replicating the exploration success of Faroe Leading exploration track record Case Study Asset swap with and farm-in with  Consistently drilled 4-5 exploration wells per year Near field exploration created significant value through field-life extension of 

  14. Slide 14: Growing Our Business Responsibly

    3ii Growing Our Business Responsibly Committed to building a sustainable business with long-term resilience Governance  Experienced and diverse board, with a proven track record of high corporate governance standards  QCA code compliant from day one of listing  OECD operating jurisdictions (UK an

  15. Slide 15: Market Summary

    Market Summary Ticker (AIM): LBE Share Register at Listing Shareholder % OSC Blackrock Investment Management (UK) Ltd 14.5% Canaccord Genuity Wealth Management 10.0% Market: AIM FIL Limited 10.0% AXA Investment Managers UK 5.0% SVM Funds ICVC 5.0% Trading Price (at 3/12/19): 98.5p TM Crux OEIC 3.9%

  16. Slide 16: Summary

    Summary  Longboat Energy has been launched by the successful and experienced former Faroe Petroleum management team  Longboat Energy’s strategy is to create a full-cycle North Sea E&P company through M&A, exploration and investments in acquired assets  The North Sea still offers large oil and gas

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