United Oil & Gas Plc · LSE:UOG
United Oil & Gas — H1 2020 Earnings Presentation
15 slides from United Oil & Gas's earnings presentation, Sep 29, 2020
Slide 1: United Oil & Gas Interim Results 29th September 2020
United Oil & Gas Interim Results 29th September 2020 www.uogplc.com AIM:UOG
Slide 2: Disclaimer
Disclaimer ▪ This presentation (“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 re
Slide 3: Half Year 2020 Results
Half Year 2020 Results • Welcomed new Institutional Shareholders • Strengthened the Board with addition of Iman Hill Strategic • Established ESG Board Committee • Completed Rockhopper Egypt Acquisition • Excellent Drilling Results & Production & Reserves Growth Operational • Provisionally awarded th
Slide 4: Half Year 2020 Results
Half Year 2020 Results Average Production* Realised Oil Price* Realised Gas Price* Cash Operating Cost* 1,975 boepd $28.3 /bbl $2.6 /mmbtu $4.36 /boe Net Revenue* Gross Profit* Hedge Fair Value Gain Net Profit* $2.4 million $0.3 million $2.8 million $1.8 million Net of Government Take Cash Balance C
Slide 5: Commitment to Operating a Sustainable Business
Commitment to Operating a Sustainable Business ESG Committee established by the Board in September 2020 - supporting United’s growth as a sustainable business Environmental Social Governance ▪ Limit the Group’s impact on the natural ▪ Commit to the sustainable development ▪ Guided by the 10 principl
Slide 6: Portfolio Summary
Portfolio Summary Production, development and low-risk appraisal/exploration in Egypt and Europe; Super-wildcat exploration in Jamaica P+D+A+E D+A+E A+E E EGYPT EGYPT ITALY ITALY UK UK JAMAICA JAMAICA ▪ 2,716 boepd net working ▪ Selva development on ▪ CNS: 27 mmbbls net ▪ Basin-opening, super- inter
Slide 7: Egypt, Abu Sennan Concession
Egypt, Abu Sennan Concession 1H 2020 Summary Forward Programme Strong production growth in low-cost environment Activity planned to unlock significant potential Cash Operating Cost Break Even Price Multiple Targets Material Upside Low-risk $4.36/boe <$20/bbl >35 >29mmboe 80% UOG mapped prospects Unr
Slide 8: Italy: Podere Gallina Licence
Italy: Podere Gallina Licence United hold a 20% non-operated interest in the Podere Gallina licence, operated by ASX-Listed Po Valley Energy Limited. Continuing progress towards first gas - 2021 target Location Map Podere Maiar Well Pipeline Short (1km) pipeline means Podere Gallina low transport an
Slide 9: UK 32nd Licensing Round Award
UK 32nd Licensing Round Award Provisional award further strengthens United’s position in an active area of the UK North Sea Forward plan: Complete work programmes, attract partners, and instigate drilling / deal activity Licence P2480 (100%) Multiple plays and low-risk Licence P2366, Crown prospects
Slide 10: Jamaica, Walton-Morant Licence
Jamaica, Walton-Morant Licence High-risk / high-reward frontier basin offshore Jamaica offering huge re-rating potential Licence Status Location Map ▪ United now hold 100% equity and operatorship in the 22,400km2 Walton-Morant Licence ▪ 18-month extension to the Initial Exploration Period granted Wi
Slide 11: Future Outlook
Future Outlook Significant activity planned across the portfolio - aiming to unlock asset value potential Continuing to evaluate selected new ventures for delivery at an appropriate time 2020 2021 EGYPT Bring ES-5 onstream ASH Pipeline ASH-3 Well Exploration Well Recommence Development Drilling ITAL
Slide 12: Investment Case Summary
Investment Case Summary New Top 20 AIM by Institutional Production Shareholder Volumes Base Full-cycle multinational E&P Operational company Financial Strategic Revenue growth Re-engaging delivering positive the drill bit in operational Egypt cashflow Focus on capital UOG’s value Updated CPR being 2
Slide 13: www.uogplc.com
UNITED OIL & GAS www.uogplc.com
Slide 14: Fact Sheet
Fact Sheet Abu Sennan - Fiscal Terms 2P Resources (22% WI) Production Sharing Contract Egypt Italy Top 10 Shareholders Gas Effective overall net contractor share at Abu Gas 07 Sept 20 %IC Sennan is 42.53% of gross revenue comprised 0.9 0.5 0.4 Jarvis Investment Mgt of a Cost Oil (> $120 million rema
Slide 15: Financial Strategy
Financial Strategy Investment and safeguarding of capital Measurement Delivery Mix of Debt & 50:50 Debt/Equity Split Egypt Acquisition Capital structure Equity Funding Financing Partner BP $20m Equity raised to date Crown divestment up to $5m consideration - Proactively manage asset Portfolio $2.85m