Europa Oil & Gas (holdings) Plc · LSE:EOG
Europa Oil & Gas (holdings) — Investor Presentation (March 2026)
22 slides from Europa Oil & Gas (holdings)'s investor presentation, Mar 5, 2026
Slide 1: Europa Oil & Gas: A Transformational Growth Opportunity
Europa Oil & Gas A Transformational Growth Opportunity 5 March 2026 www.europaoil.com | AIM: EOG | @Europa Oil & Gas plc | @Europaoilandgas
Slide 2: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION The informati
Slide 3: Building a portfolio of assets with near-term growth catalysts
Building a portfolio of assets that offer exposure to material near-term growth catalysts whilst managing capex/G&A in considered fashion Ireland - 1.5 TCF ILX Assets throughout the E&P cycle with significant upside and multiple near term catalysts 1) ILX gas exploration UK • Offshore Equatorial Gui
Slide 4: Equatorial Guinea – Low Risk High Impact Exploration
Equatorial Guinea – Low Risk High Impact Exploration • EOG has a 42.9% interest in Antler Global Limited • EG-08 has 3x ILX prospects with 1,492 BCF (Pmean) and a total of 2,213 BCF (Pmean) of prospectively on the block • Antler will retain operator, fully aligned with Fuhai to drill quickly • Barra
Slide 5: Farm Out Agreement – Fuhai Group
Farm Out Agreement – Fuhai Group • Fuhai acquires 40% working interest in the EG08 PSC: • Antler 40% (operator), Fuhai 40%, GE Petrol 20% • Fuhai shall fund 95% of the total cost for drilling and testing the Barracuda prospect: US$53 million • Antler funds 5% • Any cost overruns shared 50:50 • Upon
Slide 6: The Fuhai Group
The Fuhai Group Fuhai Group 2024 Financials • The Fuhai Group is a large-scale energy and ✓ Revenue – US$12.7 Billion chemical conglomerate that integrates refineries, ✓ Net Profit – US$297 Million petrochemicals, clean energy and logistics • It has been rated in the top 500 enterprises in China for
Slide 7: 7 from 8 exploration wells have been commercial discoveries
7 from 8 exploration wells have been commercial discoveries • Since 2007, 7 out of 8 exploration wells resulted in commercial discoveries based on AVO response • Further 13 wells successfully placed on AVO anomalies • COS <95% based on wells placed on AVO anomalies • Very high flow rates on test Liq
Slide 8: O2 Well
O2 Well 1. Wireline pressure data indicate a short gas column in the upper 6m of the sand but the remainder of the sand is water bearing. It can be interpreted that the Free Water Level is at 2884m TVDSS 2. Samples of gas/gas condensate were recovered by wireline (RCI) at the top of the sand 3. Poro
Slide 9: Volumetrics & Risk to Commercialisation
Volumetrics & Risk to Commercialisation Gross to Europa Unrisked Net to Europa Unrisked Prospective Recoverable Prospective Recoverable Operator GCOS Total Pmean mid-case Resources (BCFE) Resources (BCFE) Prospects (BCFE) P90 Pmean P10 P90 Pmean P10 Prospective Resource Barracuda (Geological) Cardin
Slide 10: Barracuda Value Proposition
Barracuda Value Proposition Source: Europa Internal Analysis • The Barracuda well could • If the pressure data from the well demonstrate Gas Down To proves that it is connected to the O2 (“GDT”) of 2808m, which well it would demonstrate the ~P10 would prove 679 BCFe of volume of 1.6 TCFe of reserves
Slide 11: Barracuda Field - DCF Value of $1,823 million
Barracuda Field - DCF Value of $1,823 million • The development of the Barracuda field has been valued used discounted cashflow method • The minimum economic field size is 96bcf (16 million Barrels) • Various development scenarios have been considered for the different potential field size of Barrac
Slide 12: Gas Monetisation – Simple Development Concept
Gas Monetisation – Simple Development Concept • 4 production wells required to drain the Barracuda Pmean resource • There are a number of development options, including: 1. Tie Back to Alen: • Subsea completion & 9km tie-back to Alen platform • Condensate is separated on the Alen platform and piped
Slide 13: EG-08 Summary
EG-08 Summary • High quality, low risk and high reward gas ILX opportunity • Fuhai deal closed, CP’s expected by end Q1 2026. Fully funded to drill & test • Prospects are straight forward to drill (no salt or overpressure). Approximately 2,800m of sediment to drill and in shallow water (jack-up rig)
Slide 14: Ireland Overview
Ireland Overview • FEL 4/19 is operated by Europa Oil and Gas with 100% equity • Large Corrib lookalike structure: Inishkea West • A third of Ireland’s overall energy needs, and over half its electricity, comes from natural gas (Source: www.gov.ie) • Ireland highly reliant on imported gas • Corrib p
Slide 15: Ireland Summary
Ireland Summary • Europa Oil & Gas has a 100% operated interest • PSC licence extension application has been submitted1 • Europa is seeking a carry for the drilling of the Inishkea West prospect plus back-costs • One main prospect considered low-risk within the same world-class Triassic gas play as
Slide 16: Onshore Production – Key Cash Generator
Onshore Production – Key Cash Generator Cloughton • Wressle has one of the highest production rates in the UK PEDL343 onshore • Gross revenue from Wressle in excess of US$57.5m since Crosby Warren August 2021 (net c.$17.25m to EOG)1 DL001 • Wressle gas solution and subsequent additional revenues: Wr
Slide 17: Cloughton – PEDL 343
Cloughton – PEDL 343 • Discovered in 1986, flowed up to 28,000 scf/d • Carboniferous sandstones with excellent salt seal Well Site • Simple 4-way anticline • Single well flow potential is 6 mmscf/d1 • GIIP Pmean 137 bcf1 • Permitting underway for appraisal well, decision H1 2026 • Environmental Agen
Slide 18: Cloughton 2 – Well Objective
Cloughton 2 – Well Objective • Cloughton-2 will be a directional well (1.6km step out) • Penetrate the Carboniferous target, formation evaluation Well Head through wireline logging and coring Downhole • Suspend well for future Location re-entry and production • Cloughton-1 well core is 100% net sand
Slide 19: Wressle: Further Development
Crosby Wressle: Further Warren-1 PEDL 182 Broughton North Prospect2 Development Crosby Warren East Penistone Flags – 0.3mmbbls 0 km 2 Ashover Grit – 0.3mmbbls Broughton North Wressle Development Plan Wressle-1 Pad Europa 100% - W1 well continues to W-C produce above the ERCE P10 Bottom Hole Location
Slide 20: Wressle Development
Wressle Development • Drill two new production wells, drilled back to back • First well to target Penistone Flags • Gas exported to local gas network 600m from site • Existing site to be extended 50m • Install gas processing equipment • Planning approval meeting expected 2026 • Site upgrade will all
Slide 21: New Ventures
New Ventures • Value driven • Target the best deals for EOG ▪ Opportunity cost in both staff time (G&A) and EOG financial resources • New opportunities measured against: ▪ Strategic fit to EOG portfolio ▪ Match to EOG core skillset ▪ Materiality – significantly move EOG valuation ▪ Risk – acceptable
Slide 22: Questions?
Questions? EG LNG Offloading Jetty www.europaoil.com | AIM: EOG | @Europa Oil & Gas plc | @Europaoilandgas
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