United Oil & Gas Plc · LSE:UOG
United Oil & Gas — FY2020 Earnings Presentation
19 slides from United Oil & Gas's earnings presentation, Apr 26, 2021
Slide 1: FY 2020 Results: Poised for growth
Poised for growth… FY 2020 Results 26 April 2021 www.uogplc.com AIM: UOG
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) is being supplied to you The Presentation may not be reproduced or redistributed, in These risks include, but are not limited to, risks associated solely for your information. The Presentation has been whole or in part, to any other person, or published,
Slide 3: Full Year 2020 Results
Full Year 2020 Results ▪ Emerged from 2020 stronger than ever and positioned for continued growth STRATEGIC ▪ Completed Egyptian Acquisition ▪ Committed to Sustainability with establishment of ESG Board Committee ▪ Strengthened the Board with addition of Iman Hill and Tom Hickey ▪ Welcomed new insti
Slide 4: Committed to Operating a Sustainable Business
Committed to Operating a Sustainable Business ▪ ESG Committee established by the Board in September 2020 ▪ Executive Remuneration Policy includes ESG targets ▪ Operating to highest environmental and regulatory standards ▪ Investing in sustainable production practices to reduce our environmental impa
Slide 5: 2020 Financial Results Highlights
2020 Financial Results Highlights Average Production1 Realised Oil Price1 Realised Gas Price1 Cash Operating Cost1 $37.8/bbl $2.6/mmbtu $5.77/boe 2,195 boepd Group Revenue1 Gross Profit Net Profit $9.1 million $2.5 million $0.9 million Net of Government Take Exit Production Rate2 Cash Balance Cash C
Slide 6: Disciplined Capital Allocation & Capital Flexibility
Disciplined Capital Allocation & Capital Flexibility ▪ Resilient Portfolio with a low-cost production Disciplined Capital Allocation & Capital Flexibility base and attractive short cycle development & exploration opportunities delivering results Brent Oil Price $/bbl 80 ▪ Capital Allocation focusing
Slide 7: Operations
Operations www.uogplc.com AIM: UOG
Slide 8: Asset Portfolio
Asset Portfolio EGYPT P+D+A+E ITALY D+A+E UK A+E JAMAICA E ▪ 2,195 boepd1 22% Net ▪ Selva development on track ▪ Central North Sea: 27 ▪ High-Impact Colibri Working Interest production for first gas in 2022 mmbbls5 net prospective prospect with mean ▪ 2P reserves of 3.7 mmboe2 ▪ 0.4 mmboe4 net 2P re
Slide 9: Egypt, Abu Sennan – Production & 2P Reserves Growth
Egypt, Abu Sennan – Production & 2P Reserves Growth Outstanding operational results with strong production & reserves growth Abu Sennan Production UOG Net Working Interest, since Acquisition Effective Date 1-1-2019 3000 2500 Production BOEPD 2000 1500 1000 500 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2019 2019
Slide 10: Egypt, Abu Sennan – Excellent Asset Performance
Egypt, Abu Sennan – Excellent Asset Performance HSE 1) ASD-1x Exploration Superb Abu Sennan 2020 HSE Performance 0 LTI’s, MTI’s, RWI’s, spills, fires, ASD-1X: Discovery environmental incidents with 22m net pay ASD-1X reported by Operator, Kuwait Energy Egypt INFRASTRUCTURE 1) ASD Discovery 2) El Sal
Slide 11: Egypt, Abu Sennan – Material Future Potential
Egypt, Abu Sennan – Material Future Potential PRODUCTION UPSIDE 1) ASA-4 The next two years will see Development targets identified at ASH, Al continuing development and Jahraa, El Salmiya, and ASA Fields exploration drilling campaigns ASA Field ASA-4 7.6 aiming to increase production mmboe 3P Net W
Slide 12: Italy
Italy ▪ Latest operator guidance: First gas mid-2022 ▪ United hold a 20% non-operated interest in the Podere Gallina licence, onshore Italy Location Map Location Map Selva Field Pipeline Follow-on Potential • 0.4 mmboe 2P Net Reserves to be produced from Podere Gallina well 3.5 mmboe Net via tie-bac
Slide 13: UK Central North Sea
UK Central North Sea ▪ United hold a 100% interest in two offshore UK CNS licences ▪ Progress being made on value-adding work programmes ahead of planned farm-down Location Map Licence P2480 (Zeta) Zeta Prospect Depth Map Awarded in 2019. Contains the Palaeocene Zeta Prospect ~29 mmboe prospective r
Slide 14: Jamaica, Walton Morant Licence
Jamaica, Walton Morant Licence ▪ 18-month extension granted in August 2020 ▪ 100% equity and operatorship assumed by United ▪ 2.4 Billion bbls combined resource potential identified in independent prospective resources report1 ▪ 406 mmbbls2 assigned to high-graded, drill- ready Colibri prospect – a
Slide 15: Outlook
Outlook www.uogplc.com AIM: UOG
Slide 16: Outlook 2021+
Outlook 2021+ Near Term Value Triggers & Organic Growth 2021 2022 ASH3 Well ASD 1-X Well AJ8 Development Well Continuing Egyptian development and exploration drilling campaigns Italian Development Consent Italian First Gas UKCS work programmes progressing Jamaica farmout process progressing Inorgani
Slide 17: Conclusion: Profitable, Growing, Cash Generative Business
Conclusion Platform for Committed to Growth with Low- Disciplined Capital Resilient Portfolio Operating a Cost Production & Allocation & with Material Sustainable Reserves Base Capital Flexibility Upside Potential Business Profitable, Growing, Cash Generative Business FY 2020 Results 16
Slide 18: Appendix
Appendix www.uogplc.com AIM: UOG
Slide 19: Fact Sheet
Fact Sheet 2P Reserves Top 15 Shareholders1 UOG Net Working Interest mmboe 0.4 Shareholder No. of Shares Percentage Hargreaves Lansdown Asset Mgt 85,658,482 13.70% 4.1 Jarvis Investment Mgt 85,059,491 13.61% mmboe Interactive Investor Trading 50,657,101 8.10% Halifax Share Dealing 30,608,039 4.90% 3