Genel Energy Plc · LSE:GENL
Genel Energy — Corporate Update (January 2021)
8 slides from Genel Energy's corporate update, January 2021
Slide 1: A socially responsible contributor to the global energy mix
A’socially responsible'contributor to the ¥ global. energy mix.
Slide 2: 2020 - Resilience demonstrated, foundations strengthened
* Delivery in 2020 has laid the foundation for growth, with numerous catalysts in the year ahead * Low-cost production averaged 31,980 bopd in the year ~ Already the only multi-licence producer in the KRI, production now comes from four fields on three licences — Asset level cash generation of $74 m
Slide 3: Financial strength to combine growth and returns
aes FINANCIAL STRENGTH TO COMBINE GROWTH AND RETURNS * Free cash outflow of $5 million despite $159 million unpaid KRG debts in 2020 et NPEP BALANCE SHEET * Clear financial model aiming at generating value for shareholders - Maintain and protect strong balance sheet 1000 - Low leverage, with net cas
Slide 4: Low-cost production
* Low-cost production of $2.8/bbl in 2020, with average margin per working interest barrel of c.$11/bbl expected in 2021 at average Brent oil price $50/bbI * Tawke PSC (25% working interest) - Investment in 2020 focused on drilling and gas injection to maximise production, with up to eight new devel
Slide 5: Investment in growth - catalysts in 2021
as |NVESTMENT IN GROWTH - CATALYSTS IN 2021 * Assets with material resources and a clear route to derisking and monetisation NET OIL RESERVES AND RESOURCES (MMbbIs, as of end 2019) * Sarta (30% working interest) 250 - Three wells in 2021 targeting net 79 MMbbis contingent resource and prospective =
Slide 6: A socially responsible contributor to the global energy mix
ma A SOCIALLY RESPONSIBLE CONTRIBUTOR TO THE GLOBAL ENERGY MIX * Zero lost time injuries (‘LTI') and zero tier one losses of primary containment in 15kg CO2/bbI 2020 at Genel and TTOPCO operations. No LTIs since 2015, with over 13 million . ee producing emissions in 2020 work hours since the last in
Slide 7: 2021 guidance - a year of growth and catalysts
ms 2021 GUIDANCE - A YEAR OF GROWTH AND CATALYSTS Continued delivery on simple strategy : a Increase low-cost production ~ Production in 2021 is expected to be slightly above the 2020 average of 31,980 bopd ~ Potential for a higher exit rate and further growth in 2022 depending on success with Sarta
Slide 8: For further information please contact investor relations
For further information please contact investor relations : Andrew Benbow, Head of Communications : andrew.benbow@genelenergy.com