Reabold Resources Plc · LSE:RBD
Reabold Resources — Investor Presentation (June 2022)
26 slides from Reabold Resources's investor presentation, June 2022
Slide 1: Reabold corporate presentation
Reabold corporate presentation June 2022
Slide 2: Disclaimer
Disclaimer These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in the Company nor shall they or any part of them form the basis of or be relied upon in any manner or for
Slide 3: Introduction and overview – the Reabold strategy is working
Introduction and overview – the Reabold strategy is working Reabold Resources is an investor in near-term, high growth energy projects where an injection of our capital facilitates activity and drives an uplift in realisable value • We have been investing in the oil & gas sector since 2017 and own a
Slide 4: Who we are – the Reabold team has broad and deep capabilities
Who we are – the Reabold team has broad and deep capabilities We are an executive team with significant investment experience in oil and gas projects, company evaluation and commercial industry expertise Stephen Williams – co CEO Sachin Oza – co CEO • 17 years’ experience in the energy sector • 18 y
Slide 5: The Reabold way – distinctive approach and a clear, disciplined investment strategy
The Reabold way – distinctive approach and a clear, disciplined investment strategy Reabold’s distinctive approach • We identify oil & gas assets at the appraisal stage where there is a clear value creation opportunity between the investment required to progress the asset and the asset’s value at th
Slide 6: Energy market conditions are supportive of our strategy
Energy market conditions are supportive of our strategy – Reabold is contributing to the UK’s energy security Reabold has a significant role to play in securing the UK’s energy supply • Energy security has become a national imperative • Gas is becoming a significantly more strategic and valuable ass
Slide 7: Reabold portfolio June 2022
Reabold portfolio June 2022 – operational progress and corporate activity has shifted the portfolio focus Recent corporate transactions: Value realisation: announced sale of Corallian’s Victory licence, May 2022 Investment: announced acquisition North Sea licences from Corallian for £250,000, May 20
Slide 8: West Newton – NE England (Hull), license PEDL 183
West Newton – NE England (Hull), license PEDL 183 – a significant onshore oil & gas resource for UK Conceptual development plan announced June 2022 • Potentially the largest hydrocarbon discovery onshore since 1973 • Potential resource: sales gas component of 203 Bcf with 35 MBoe total recoverable h
Slide 9: West Newton PEDL 183, near Hull, UK – location and infrastructure
West Newton PEDL 183, near Hull, UK – an overview of location and infrastructure West Newton A Hornsea /Aldbrough Gas Storage Saltend Chemical Park West Newton B and B • 2014: West Newton discovered with initial A-1 well • 2019-21: 2 appraisal wells drilled (A-2 and B-1z) confirming a major oil & ga
Slide 10: West Newton geology and well locations
West Newton geology and well locations – vertical wells have discovered resource, future horizontal wells to develop resource Vertical drilling to date has set up the opportunity to drill highly productive horizontal wells in the Kirkham Abbey formation: • Three wells (A-1, A-2, B-1z) on West Newton
Slide 11: West Newton June 2022 – post-EWT analysis
West Newton June 2022 – confidence in horizontal well productivity underpins exciting conceptual development plan Extended Well Testing (EWT) in 2021 at two locations A-2 and B-1z confirmed the resource potential: • Gas and liquid hydrocarbons were recovered to surface from both wells A-2 and B-1z •
Slide 12: West Newton Conceptual Development Plan June 2022
West Newton Conceptual Development Plan June 2022 – to be underpinned by first development well (B-2) Conceptual development plan overview: • Eight well gas development concept • Design of gas and liquid infrastructure to provide sales quality gas and to allow for production of associated liquids •
Slide 13: Reabold North Sea licences (RNS) – acquisition from Corallian
Reabold North Sea licences (RNS) – acquisition of North Sea exploration and appraisal licences from Corallian Reabold to acquire all Corallian’s non-Victory UK offshore assets • Attractive exploration and appraisal licences with significant prospective and contingent resources • Low to moderate geol
Slide 14: Reabold’s new North Sea offshore licence portfolio
Reabold’s new North Sea offshore licence portfolio – good scope for development The six licences we are acquiring are: • Inner Moray Firth – P2478 Dunrobin Oil Prospect • North West of Shetland (NWS) – P2605 Laxford and Scourie Gas Prospects • East Shetland Basin (ESB) – P2504 Oulton West Gas Prospe
Slide 15: Reabold North Sea - three key project areas
Reabold North Sea - three key project areas Inner Moray Firth contains Dunrobin, a large exciting oil Gross Gross Gross PMean Oil Pmean Pmean prospect Project Area Licences Prospects Mbbls Gas bcf MBoE • Significant resource and value creation opportunity Inner Moray P2478 Dunrobin 173 173 Firth Gol
Slide 16: Reabold in California (42% owner of listed Daybreak Oil & Gas)
Reabold in California (42% owner of listed Daybreak Oil & Gas) – good example of Reabold’s investment strategy in action Reabold has demonstrated a strong track record of success in California • 5 discoveries from 5 wells post acquisition of initial position Recently exchanged Reabold’s California b
Slide 17: Danube Petroleum
Danube Petroleum Danube Petroleum • Reabold has invested £5M into Danube Petroleum for its 50.8% equity interest • Parta licence located in major producing basin, with infrastructure enabling rapid and cost effective monetisation • Multiple prospects identified, both oil and gas • Significant gas di
Slide 18: Conclusion
Conclusion Reabold’s investment strategy has created multiple opportunities to drive value in the portfolio Planned sale of the Victory asset will generate funds to redeploy across Reabold’s portfolio and catalyse other development projects Development of West Newton asset has similar characteristic
Slide 19: Appendices
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Slide 20: Board, Management and Advisors
Board, Management and Advisors Stephen Williams – co CEO Sachin Oza – co CEO • 17 years’ experience in the energy sector • 18 years’ investment experience • M&G Investments, energy investment • M&G Investments, global Oil & Gas sector analyst - 2010 to 2016 investment analyst – 2003 to 2016 • Simmon
Slide 21: West Newton post EWT analysis explains lack of sustained flow
West Newton post EWT analysis explains lack of sustained flow – drilling damage and limited benefit from acidisation Acid Interacted With Limited Reservoir Section High Erodibility Moderate Erodibility Fig 1 Fig 2 Source: RPS Source: CoreLab (Stim-Lab) Figure 1 Figure 2 • RPS analysis indicates sign
Slide 22: West Newton lab results demonstrate flow through reservoir sample
West Newton lab results demonstrate flow through reservoir sample – modelling indicates significant production potential WNA-2 Gas Flow Rate Sample WNA-2 1737.36 Fig 1 Source: CoreLab(Stim-Lab) Fig 1 Fig 2 Modelled Gas Flow Rate Source: RPS Fig 1 CoreLab (Stim-Lab) tested and analysed fluid flow usi
Slide 23: Modelled gas production volumes from West Newton
Modelled gas production volumes from West Newton – assuming a total of eight wells Sales Gas Production Rate (Mcfd) Cumulative Sales Gas Production (Bcf) 50 250 40 200 30 150 20 100 10 50 0 0 2047 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 2051 2053 2055 2057 2059 2061 2063 206
Slide 24: West Newton economic analysis
West Newton economic analysis – strong multi-year cash flow generation Annual Cash Flow ($M) Cumulative Cash Flow ($M) 150 1400 100 900 50 400 0 -50 -100 2065 2023 2061 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 2051 2053 2055 2057 2059 2061 2063 2067 2025 2027 2029 2031 2
Slide 25: PEDL significant follow on potential
PEDL 183 significant follow on potential – mapping highlights West Newton lookalikes Multiple Anomalies Identified Across PEDL 183 Estimated In Place Volumes* Prospect Gas in Place Range (bcf) Ellerby 156-429 West Newton 287-431 Spring Hill 114-221 Withernsea 45-219 * Deterministic Volume Estimates
Slide 26: Reabold Resources plc
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