Petrel Resources Plc · LSE:PET
Petrel Resources — Investor Presentation (September 2023)
10 slides from Petrel Resources's investor presentation, September 2023
Slide 1: Petrel Resources plc
Slide 2: Disclaimer
Disclaimer This presentation does not constitute or form any part of any offer for sale or solicitation of any offer to buy or subscribe for any securities in Petrel Resources plc nor shall it or any part of it form the basis of, or be relied on in connection with, or act as any inducement to enter
Slide 3: Company overview
Pretrel Company overview nN ~ pretrel RESOURCES PLC
Slide 4: Company Snapshot
Company Snapshot • AIM listed oil & gas explorer focussed on projects in Exchanges Corporate Information AIM (LSE) Iraq, and Ghana, Experienced management team Ticker PET • Marrying geological and political risk Share price 1.1p Shares in Issue 177.9m • Baghdad presence restored. Market Cap c.£2m •
Slide 5: Iraq: World's Best Oil Play
Iraq: World’s Best Oil Play • 143 billion barrels of proven reserves; 300 billion barrels of possible reserves • Remains one of the least explored of the world’s major producing countries • Output 4.2 mmbod (pre C-19 4.7), forecast to increase to over 7 million barrels daily • Operating costs in Ira
Slide 6: The right properties...
The right properties... Location Licences Ownership Operator Highlights Iraq Merjan TCA 100% Petrel • 1982 Mobil discovery • > 800 mmbo recoverable potential • Itochu a TCA partner 2004 – 2010 • Fiscal terms under review Western Desert 100% Petrel • Multi-billion barrel potential Block 6 • Analysed
Slide 7: Ghana: offered & agreed open shallow water acreage
Ghana: offered & agreed open shallow water acreage 6
Slide 8: Ghana: New Oil Province
Ghana: New Oil Province • 2 billion barrels discovered to date Fiscal terms in Ghana are competitive • Production began from Jubilee in 2010 • West Africa attractive due to competitive conditions and large exploration potential • Ghana fiscal terms extremely attractive: • Royalty – 12.5% on oil • GN
Slide 9: Summary
Summary IRAQ Iraqi is under-producing potential at 4.2 mmbod (2022). Majors’ TSAs have not delivered dramatic output growth. Planned > 7mmbod requires policy changes by new Government. Improved fiscal terms for medium fields and exploration necessary. Security, pipeline and improved exploration term
Slide 10: Management Team
Management Team • David Horgan – Executive Chairman • Holds directorships in a number of resource companies. Holds an MBA from Harvard & MA from Cambridge. Extensive Iraqi experience since 1999. • John Teeling – Director • Established and managed many Stock Exchange listed resource companies in the
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