United Oil & Gas Plc · LSE:UOG
United Oil & Gas — H1 2023 Earnings Presentation
15 slides from United Oil & Gas's earnings presentation, Sep 28, 2023
Slide 1: 2023 Half Year Results
UNITED OIL & GAS 2023 HALF YEAR RESULTS 28 September 2023 FOCUSED ON GROWTH WWW.UOGPLC.COM
Slide 2: Disclaimer
UNITED OIL & GAS 2 DISCLAIMER This presentation (“Presentation”) is being supplied to you solely for your assumptions. respective directors, officers, partners, employees or advisers or any other information. The Presentation has been prepared by, and is the sole Certain statements, graphs, tables a
Slide 3: Active 1H Work Programme Across the Portfolio
UNITED OIL & GAS Interim Results 2023 3 ACTIVE 1H WORK PROGRAMME BUSINESS MODEL TO ACROSS THE PORTFOLIO SUPPORT GROWTH Egypt | Operations STRATEGY ✓ 1H Group working interest production averaged 1,144 boepd ✓ Successful drilling of ASH-8 - brought on production in March ✓ Successful drilling of ASD-
Slide 4: Finance
Focused on growth | Half-year results | 28 September 2023 FINANCE PETER DUNNE - CFO
Slide 5: 1H 2023 Financial Summary
UNITED OIL & GAS Half-year results 2022 | 28 September 2023 5 1H 2023 FINANCIAL SUMMARY Realised Oil Price Realised Gas Price Group Revenue Cash Operating Cost Gross Profit [excl. Egypt Tax] ($/bbl) ($/mmbtu) ($m) Net of Government Take ($/boe) ($m) 105.5 10.7 9.8 78.19 8.4 6.4 2.6 2.6 5.6 2.2 1H 20
Slide 6: 1H 2023 Cashflows
UNITED OIL & GAS Half-year results 2023 | 28 September 2023 6 1H 2023 CASHFLOWS $m Cash Balance Operating Working Investment Investment Financing Activities- Cash Balance FX movement + other 1 Jan 2023 Cashflow Capital Activities - Activities – Development Repayment of Borrowings at 30 June 2023 mov
Slide 7: Operations
Focused on growth | Half-year results | 28 September 2023 OPERATIONS Brian Larkin, CEO
Slide 8: Egypt – 2023 Abu Sennan Operations to Date
UNITED OIL & GAS Interim Results 2023 | 28 September 2023 8 EGYPT – 2023 ABU SENNAN OPERATIONS TO DATE Production AR-C Depth Map • Average YTD production 1067 boepd net 1,2 ASD-3 • FY Forecast production 930 – 1030 boepd net 1 ASD-2 Well Workovers ASD • Self-funded and low-cost operations targeting
Slide 9: Egypt – ASD-S-1X Exploration Well
UNITED OIL & GAS Interim Results 2023 | 28 September 2023 9 EGYPT – ASD-S-1X EXPLORATION WELL Abu Sennan continues to offer attractive low-risk exploration opportunities with potential for rapid return on investment ASD-S-1x ASD-S-1x Exploration Well ECDC-6 Rig contracted to drill ASD-S-1x 2200 Khom
Slide 10: Egypt – Abu Sennan 2024 Activity and Beyond
UNITED OIL & GAS Interim Results 2023 | 28 September 2023 10 EGYPT – ABU SENNAN 2024 ACTIVITY AND BEYOND 2024 Drilling – Preliminary planning • Up to 5 wells 1 • Maintain or increase production through • Low risk step-out exploration • Development drilling • Water injection Future potential of Abu S
Slide 11: Walton Morant, Jamaica
UNITED OIL & GAS Interim results 2023 | 28 September 2023 11 WALTON MORANT, JAMAICA Onshore and World-class frontier exploration opportunity offshore oil seeps Excellent database Colibri 406mmbbls • Over $35m invested since 2014 • Acquisition of modern 2D and 3D seismic in key areas of prospectivity
Slide 12: Walton Morant, Jamaica
UNITED OIL & GAS Interim results 2023 | 28 September 2023 12 WALTON MORANT, JAMAICA World-class exploration opportunity • Farm-out campaign to bring in a partner to accompany United in drilling a basin- opening well remains a key focus 100% equity and • Encouraged by the quality of the companies con
Slide 13: Summary & Outlook
Focused on growth | Half- year results | 28 September 2023 SUMMARY & OUTLOOK Brian Larkin, CEO
Slide 14: Outlook for the Remainder of the Year
UNITED OIL & GAS Focused on growth | 2023 Interim results | 28 September 2023 14 OUTLOOK FOR THE REMAINDER OF THE YEAR Foundations in • Build a substantial cashflow generating full cycle Oil and Gas business • Grow production and reserves through exploration and value accretive M&A place for executi
Slide 15: Q&A
Q&A Focused on growth | Half-year results| 28 September 2023 WWW.UOGPLC.COM