United Oil & Gas Plc · LSE:UOG
United Oil & Gas — Investor Presentation (May 2024)
21 slides from United Oil & Gas's investor presentation, May 23, 2024
Slide 1: Walton Morant Licence, Offshore Jamaica - Investor Evening
UNITED OIL & GAS Plc WALTON MORANT LICENCE, OFFSHORE JAMAICA INVESTOR EVENING 23rd May 2024 WWW.UOGPLC.COM
Slide 2: Disclaimer
UNITED OIL & GAS Investor Evening 23rd May 2024 2 DISCLAIMER This presentation (“Presentation”) is being supplied to you solely The Presentation or documents referred to in it contain forward- referred to in the Presentation. for your information. The Presentation has been prepared by, and looking s
Slide 3: Executive Summary
United Oil & Gas | Investor Evening 23rd May 2024 Executive Summary
Slide 4: Walton-Morant Licence, Jamaica
UNITED OIL & GAS Investor Evening 23rd May 2024 4 WALTON-MORANT LICENCE, JAMAICA 7 Billion Barrels of Mean Prospective Resources Identified World-Class Exploration Licence • Massive 22,400km2 exploration block • Globally significant prospective resource potential • 7-billion-barrel mean/mid-case pro
Slide 5: Jamaica is an Excellent Place for Business
UNITED OIL & GAS Investor Evening 23rd May 2024 5 JAMAICA IS AN EXCELLENT PLACE FOR BUSINESS Jamaica provides huge potential for integrated business opportunities… • • Jamaica is fully open to foreign investment • Country-entry provides access to growing energy markets in Jamaica and wider Caribbean
Slide 6: Jamaica is an Excellent Location for Monetizing Exploration
UNITED OIL & GAS Investor Evening 23rd May 2024 6 JAMAICA IS AN EXCELLENT LOCATION FOR MONETIZING EXPLORATION 1. Material Prospectivity GasSeeps Gas Seeps Oil Seeps Gas Seep • Multiple plays offshore with >7 bn barrels mean/mid-case potential Walton Morant Licence across the licence • Huge upside po
Slide 7: Jamaica's Exploration History and What's Different Now
UNITED OIL & GAS Investor Evening 23rd May 2024 7 JAMAICA’S EXPLORATION HISTORY…AND WHAT’S DIFFERENT NOW • 1950s - 1980s poor decisions and practices • Drilling on surface expression alone is a guarantee of failure • Poor quality legacy seismic data led to…. • The wrong targets drilled offshore • De
Slide 8: Massive Value Potential of a World-Class Exploration Block
United Oil & Gas | Investor Evening 23rd May 2024 Massive Value Potential of a World- Class Exploration Block Source: SBM Offshore, via Offshore Magazine
Slide 9: Walton-Morant, Development Potential
UNITED OIL & GAS Investor Evening 23rd May 2024 9 WALTON-MORANT, DEVELOPMENT POTENTIAL • Massive block with world- 7 Billion Barrel Resource Potential class potential scale • 7 Billion Barrels of Prospective Resources identified across numerous prospects and leads • >1 MMBOPD production potential on
Slide 10: Block Analog - Stabroek Guyana & Walton-Morant Jamaica
UNITED OIL & GAS Investor Evening 23rd May 2024 10 BLOCK ANALOG – STABROEK GUYANA & WALTON-MORANT JAMAICA Walton-Morant Block: Similarities with World-Class Stabroek Block, Guyana (1) Hess Investor Presentation September 2023 and May 2024 Characteristic Stabroek, Guyana (1) Walton-Morant, Jamaica St
Slide 11: Monetization Analog - Stabroek Guyana & Walton-Morant Jamaica
UNITED OIL & GAS Investor Evening 23rd May 2024 11 MONETIZATION ANALOG – STABROEK GUYANA & WALTON-MORANT JAMAICA Walton-Morant and Stabroek –World-Class Blocks of Same Scale and Potential • Direct analog to Walton-Morant in terms of block size, resource potential, prospect size distribution and prod
Slide 12: Options for Developing Gas to Shore for Local Demand
UNITED OIL & GAS Investor Evening 23rd May 2024 12 OPTIONS FOR DEVELOPING GAS TO SHORE FOR LOCAL DEMAND Options to Export to Shore for Low-Carbon Power Production or Reinject into Reservoirs • Currently 20 Power Plants in Jamaica, totalling > 1 GW of output capacity Jamaica Bauxite Mining Operations
Slide 13: Fiscal Terms Set to Attract Investment
UNITED OIL & GAS Investor Evening 23rd May 2024 13 FISCAL TERMS SET TO ATTRACT INVESTMENT Comparison of Government Take Jamaica operates a very favourable Production Sharing Agreement (PSA) Regime with Africa no state participation • PSA Duration: 25 years + 10 years extension • Royalty: – Oil: Paya
Slide 14: Potential for Considerable Economic Returns
UNITED OIL & GAS Investor Evening 23rd May 2024 14 POTENTIAL FOR CONSIDERABLE ECONOMIC RETURNS Walton Morant - Single 400 MMBO Project Economics Overall Walton-Morant Block Economic Potential • A single 400 MMBO prospect (e.g. comparable to Liza Phase 1) as a • Stabroek Guyana NPV10 $10/bbl(1) and I
Slide 15: Technical Evidence and Prospectivity Overview
United Oil & Gas | Investor Evening 23rd May 2024 Technical Evidence and Prospectivity Overview
Slide 16: Active Hydrocarbon System in Jamaica
UNITED OIL & GAS Investor Evening 23rd May 2024 16 ACTIVE HYDROCARBON SYSTEM IN JAMAICA Litchfield Seep (CGG, 2018) • All 11 wells drilled so far showed evidence for hydrocarbons • Documented occurrences of live surface oil seeps and outcrop oil staining • Satellite analysis indicates the presence o
Slide 17: Prospectivity Summary - Low-Cost Entry, Huge Potential
UNITED OIL & GAS Investor Evening 23rd May 2024 17 PROSPECTIVITY SUMMARY – LOW-COST ENTRY…HUGE POTENTIAL Name Assignation Location Seismic Data Mean/Mid Volume Type (mmbbls / mmboe) >7 billion barrels1 Lead 11F Lead Walton Basin 2D 1126 Zumbador Lead Morant Basin 2D 925 Thunderball Lead Morant Basin
Slide 18: Current Work Programme
United Oil & Gas | Investor Evening 23rd May 2024 Current Work Programme
Slide 19: 2024-2026 Technical Work Programme
UNITED OIL & GAS Investor Evening 23rd May 2024 19 2024-2026 TECHNICAL WORK PROGRAMME Focussed, cost-effective 2024-2026 work programme designed to further derisk high-value exploration potential Piston Coring Survey • Using the 2018-acquired 3D data, ~40 seabed locations have been identified Chance
Slide 20: Conclusion
United Oil & Gas | Investor Evening 23rd May 2024 Conclusion
Slide 21: Walton-Morant Summary
UNITED OIL & GAS Investor Evening 23rd May 2024 21 WALTON-MORANT SUMMARY Massive Block – Massive Potential • Walton-Morant is a massive block containing World-Class potential of 7 Billion Barrel prospective resources, with multiple “elephant” basin openers • Directly comparable to the scale of Stabr