United Oil & Gas Plc · LSE:UOG
United Oil & Gas — Investor Presentation (March 2019)
24 slides from United Oil & Gas's investor presentation, March 2019
Slide 1: Corporate Presentation March 2019
Corporate Presentation March 2019 www.uogplc.com LON:UOG
Slide 2: Disclaimer
Disclaimer The Presentation is being supplied to you solely for your information. The Presentation has been prepared by, and is the sole responsibility of, United Oil & Gas Plc (the “Company”, “UOG”, “United”, or “United Oil & Gas”). The directors of the Company have taken all reasonable care to ens
Slide 3: Overview
Overview AIM traded oil and gas exploration and development company Multi-stage portfolio of low- Near and medium term High-impact news flow set risk European development production opportunities to unlock untapped value and appraisal assets and delivering significant of existing assets high-impact
Slide 4: Management
Management Entrepreneurial management team with strong technical discipline and established links to industry Brian Larkin | Chief Executive Officer Jonathan Leather | Chief Operating Officer Brian is the founding director of United Oil and Gas Jonathan has over 18 years experience in the oil indust
Slide 5: Company History
Company History APRIL 2015 ▪ United Oil & Gas established 2016 AUGUST MARCH 2017 ▪ Acquired PL090 licence, onshore UK ▪ Farm-in agreed on the Podere Gallina licence, Italy 2017 JULY NOVEMBER 2017 ▪ Admission to the London Stock Exchange’s Main Market via RTO with Senterra Energy Plc | Completion of
Slide 6: Strategy
Strategy Utilise the team’s experience to build a balanced portfolio of assets with the potential to significantly increase shareholder value Europe: Create value through active management of a portfolio of production, development and low-risk exploration/appraisal assets Caribbean, Latin America an
Slide 7: The Oil & Gas Lifecycle and Our Portfolio
The Oil & Gas Lifecycle and Our Portfolio EXPLORATION ▪ Jamaica ▪ Benin ▪ PL090 PRODUCTION APPRAISAL / DISCOVERY ▪ Selva (2020) ▪ Crown ▪ Colter DEVELOPMENT ▪ East Selva ▪ Waddock Cross 6 United Oil & Gas Plc – Corporate Presentation – March 2019
Slide 8: Current Portfolio Overview
Current Portfolio Overview Significant progress made in last twelve months to assemble a portfolio of low-risk European development and appraisal assets and high-impact exploration projects in Jamaica and Benin Multiple near-term value-drivers focused on production development, appraisal drilling, a
Slide 9: UK Wessex Basin: Colter (Licence P1918)
UK Wessex Basin: Colter (Licence P1918) Four licences in the Wessex Basin - an area of strategic interest for UOG containing Europe’s largest onshore oil field (Wytch Farm), which has to date produced over 450mmbbls WESSEX BASIN LOCATION MAP Colter (Licence P1918; 10% equity) ▪ Well 98/11a-6 spudded
Slide 10: UK Wessex Basin: Colter Well Results
UK Wessex Basin: Colter Well Results Colter structure smaller than pre-drill estimates, but potentially substantial discovery at Colter South validates strategy of targeting prolific Wessex Basin 6th Feb 25th Feb Colter well – targeting 98/11a-6z sidetrack – targeting 98/11-3 – 10.5m gross oil area
Slide 11: Colter Well 98/11a-6 and -6z
Colter Well 98/11a-6 and -6z Post-drill learnings and drilling schedule Initial Post-Drill Learnings ▪ Structurally complex area with seismic imaging challenges, where subtle changes to mapped faults can make a large difference to interpreted structure: Need for best possible pre-drill data ▪ Drilli
Slide 12: Onshore Benin Block B: Summary
Onshore Benin Block B: Summary Low-cost, early-stage entry to a high risk opportunity with transformational upside Block B • Large acreage position (4,590km2) at Seme Oil Field super wildcat stage, operated by Elephant Oil Ltd • Frontier exploration: Only 11 wells drilled to date in the entire Dahom
Slide 13: Onshore Benin Block B: Data and Work Program
Onshore Benin Block B: Data and Work Program • Gas and oil seeps reported within Block B from water wells. Tar sands occur in an Indications of biodegraded extensive belt to the east oil in water well Thermogenic gas seep • Data is limited to one seismic line and a CGG- Tar belt acquired Falcon grav
Slide 14: Onshore Benin Block B: Seismic Data
Onshore Benin Block B: Seismic Data A B C Central Allada structure potentially holds over 200mmbbls in place A • Central Allada structure potentially B holds over 200mmbbls in place • Potential running room is clearly significant C Potential running room is clearly significant 13 United Oil & Gas Pl
Slide 15: Italy: Podere Gallina Licence
Italy: Podere Gallina Licence Successfully drilled in Dec 2017, the Podere Maiar-1 well encountered gas in clearly commercial volumes LOCATION MAP ▪ Targeted an updip area of the Selva Field Monestirolo Field 0.7Bcf Produced ▪ 41m net gas pay encountered in Malalbergo Field Bova Discovery excellent
Slide 16: Italy: Podere Gallina Licence Exploration Opportunities and 3D Acquisition
Italy: Podere Gallina Licence Exploration Opportunities and 3D Acquisition Material exploration opportunities on Podere Gallina derisked by PM-1 well East Selva Prospect ▪ Same play trend as Minerbio and Selva Proposed Production ▪ Unrisked base-case recoverable resources Concession Outline of 986MM
Slide 17: UK Wessex Basin: Waddock Cross (PL090) and Exploration Upside
UK Wessex Basin: Waddock Cross (PL090) and Exploration Upside WADDOCK CROSS FIELD Waddock Cross (Licence PL090; 26.25% equity) ▪ Large in-place volume of oil (34 million barrels gross) ▪ In production 2013/14 – shut-in following disappointing oil rates due to higher than anticipated water-cut ▪ Posi
Slide 18: UK North Sea Crown (30th Licensing Round Award)
UK North Sea Crown (30th Licensing Round Award) Awarded Blocks 15/18d and 15/19b (Crown Discovery, Licence P2366) in the 30th Licensing Round UK North Sea ▪ Mature area - historic discoveries and low- risk prospects that can quickly be hooked into existing infrastructure on success Crown (Licence P2
Slide 19: Walton-Morant Licence, Jamaica
Walton-Morant Licence, Jamaica High-risk / high-reward frontier basin offshore Jamaica offering huge re-rating potential LOCATION MAP ▪ Farm-in completed for 20% equity in the Tullow-operated 32,000km2 Walton-Morant Licence, offshore Jamaica ▪ Potentially transformational opportunity - complements U
Slide 20: Walton-Morant Licence, Jamaica
Walton-Morant Licence, Jamaica ▪ Acquisition of 2,250km2 3D seismic focused on the Colibri prospect completed in May 2018 ▪ Acquired ahead of schedule, US$600k under-budget, and with minimal downtime - leading to excellent survey coverage ▪ Data is currently being processed and interpreted ahead of
Slide 21: Operational Highlights and Forward Programme: Activity & High Impact News Flow
Operational Highlights and Forward Programme: Activity & High Impact News Flow OPERATIONAL ✓ Successful drilling in Italy HIGHLIGHTS ✓ Acquisition of Jamaica’s first 3D seismic survey ✓ Successful drilling at Colter, UK ✓ Farm-in option agreed on Benin ✓ Eight licences currently in the UOG portfolio
Slide 22: Investment Case
Investment Case Low-risk European portfolio of development and appraisal / exploration assets underpins a parallel high-impact growth strategy in the Caribbean / South America / Africa Strategy focused on value creation: acquisition of assets where near-term activity unlocks untapped value 2019 valu
Slide 23: Contacts
Contacts United Oil & Gas Optiva Securities Tel: +44 207 539 7272 Broker Tel: +44 203 137 1902 Kerman & Co LLP Company Solicitors Tel: +44 207 539 7272 Murray Consultants Public Relations Tel: +353 87 6909735 St Brides Partners Financial PR/IR Tel: +44 207 236 1177 22 United Oil & Gas Plc – Corporat
Slide 24: www.uogplc.com
UNITED OIL & GAS www.uogplc.com
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