Angus Energy Plc · LSE:ANGS
Angus Energy — IPO Roadshow (November 2016)
21 slides from Angus Energy's IPO roadshow presentation, November 2016
Slide 1: Proven UK Operator, Producer and Developer
“Proven UK Operator, Producer and Developer” IPO INVESTOR PRESENTATION NOVEMBER 2016
Slide 2: Disclaimer
DISCLAIMER The information contained in these slides has been prepared by Angus Energy Plc (Company) in connection with the proposed placing (Placing) of ordinary shares in the capital of the Company (Ordinary Shares) and the proposed application for admission (Admission) of the entire ordinary shar
Slide 3: Management & Board
MANAGEMENT & BOARD An experienced management team with strong technical, geographical and operational skill-sets and a excellent operational track record Rob Shepherd Jonathan Tidswell-Pretorius Non-Executive Director Executive Chairman Rob has over 25 years experience in the oil and gas Founder of
Slide 4: Angus Energy Assets
ANGUS ENERGY ASSETS PRODUCTION PRODUCTION APPRAISAL Lidsey Oil Field Brockham Oil Field Horse Hill Field 50% interest 55% interest 11.05% indirect WI Operator: Angus Energy Operator: Angus Energy Operator: Partners: Terrain Energy (20%), Partners: Terrain Energy (20%), HHDL. (founded by Angus) Dorie
Slide 5: Assets Located in Southern England
A S S E T S L O C AT E D I N S O U T H E R N E N G L A N D Operator of all Assets, Raising £3.5m at AIM IPO for working capital, drilling of new side-track at Brockham and horizontal producer at Lidsey oil field I N V E S T O R P R E S E N TAT I O N J U LY 2 0 1 6
Slide 6: Angus Energy Highlights
A N G U S E N E R G Y H I G H L I G H TS ESTABLISHED PROVEN TRACK LARGE UPSIDE LOW COST RECORD FOR POTENTIAL PRODUCER DELIVERY PRODUCTION Increase production Low opex providing Become leading listed to >400bopd (gross) strong cash flows UK onshore producer EXPLORATION Explore Kimmeridge Production l
Slide 7: Strategy
S T R AT E G Y Simultaneous consolidation and growth: build cash flow from existing asset base while evaluating new opportunities adding low cost, onshore development assets to build production Increase Production and Recovery from Existing Assets Grow Portfolio Through Select Onshore Development an
Slide 8: Assets
ASSETS I N V E S T O R P R E S E N TAT I O N J U LY 2 0 1 6 7
Slide 9: Brockham Oil Field
BROCKHAM OIL FIELD Increase 55% Low cost Recent BR-X4Z production interest, operation production Side-track from operated from a of ~35 planned to Portland and by Angus shallow bopd from be drilled assess Energy reservoir one well shortly Kimmeridge * 55% working interest and 60% paying interest in
Slide 10: Horse Hill-1 Well Test Results
HORSE HILL – 1 WELL TEST RESULTS Flowing oil from the Kimmeridge Limestones exceeding all pre-well test expectations Aggregate oil rate 1,688 BOPD ~ 8.5% of total UK onshore daily oil production* Horse Hill – 1 (HH‐1, drilled by Angus Energy, founder of Horse Hill Developments Ltd.): the first well
Slide 11: What Does This Mean for Brockham?
W H AT D O E S T H I S M E A N F O R B R O C K H A M ? • In 1987 BP drilled the Brockham-1 Nutech Reservoir Characterisation well through the Kimmeridge Limestones (micrites) although it did not test them Brockham‐1 Collendean Farm‐1 Horse Hill‐1 • We therefore know the presence and thickness of the
Slide 12: Side-Track Planned at Brockham
S I D E -TR A C K P L A N N E D AT B R O C K H A M • Low cost side-track to be drilled from existing well-bore • To be drilled into the producing Portland reservoir and into Kimmeridge Limestones and Top Coralian for increased production • Water injector and donor well in place already • Existing fa
Slide 13: Brockham Summary
BROCKHAM SUMMARY Horse Hill-1 well test in early 2016 providing compelling rationale to drill Brockham BR-X4Z side-track into Kimmeridge Limestones Brockham is a production field under production license PL235 Original planning permission for the drilling of up to six wells at the site (curren
Slide 14: Lidsey Oil Field
LIDSEY OIL FIELD 50% Gross mid- Second well Predictable i n t e r e s t *, case: High planned low operated 9.7 MMbbl quality oil lifting decline by Angus of oil in (38◦ API) production to rates Energy place ~300 bopd * 40% working interest and 50% paying interest in upcoming Lidsey‐2 well I N V E S
Slide 15: New Well Planned at Lidsey
NEW WELL PLANNED AT LIDSEY Map showing top reservoir – red dashed • New horizontal well expected to increase daily line is the licence boundary, thick black production to ~300 bopd lines are bounding faults. • The new well will target the producing Great Oolite reservoir which has low geological ris
Slide 16: De-risked Lidsey Production
DE-RISKED LIDSEY PRODUCTION Lidsey has similar geology to the nearby prolific Singleton field which has an excellent historic production profile, therefore significantly mitigating geological uncertainty of Lidsey-2 Permeability improving upwards in the Great Oolite reservoir The new Lidsey-2 Well w
Slide 17: Lidsey Summary
LIDSEY SUMMARY New Lidsey-2 horizontal producer to maximise recovery from producing reservoir Development well, no exploration risk Low oil price environment reduced CAPEX to previous estimates Low OPEX for field production (P50 first 3yr avg. of $14.4/bbl) Planning permits in place for ne
Slide 18: Delivering Regular News
DELIVERING REGULAR NEWS Drilling Brockham BR-X4Z side track and then Lidsey-2 horizontal well immediately after obtaining OGA, EA and HSE approvals IPO <6‐months <12‐months +12 months * Brockham Oil Field BR‐X4Z side‐track Drilling additional wells at Brockham dependent on side‐track results Lidsey
Slide 19: Capital Structure
C A P I TA L S T R U C T U R E £3.5m placing at 6p gives new investors 27.1% of 214,980,287 shares in issue Other, 12.4% Knowe Properties ltd, 21.2% New Shares, 27.1% Jonathan Tidswell, 18.4% Paul Vonk, 7.0% JDA Consulting ltd, 14.0% I N V E S T O R P R E S E N TAT I O N J U LY 2 0 1 6 `
Slide 20: Investment Case
INVESTMENT CASE Developing current assets to increase cash flow in tandem with new acquisitions Established low cost producer Proven Track Record for Delivery Onshore focused UK qualified operator Upside Potential Experienced and respected Ongoing production from two management fields of ~50bopd gro
Slide 21: Contacts
C O N TA C TS Angus Energy Plc www.angusenergy.co.uk Managing Director: Paul Vonk T: 020 8899 6380 I N V E S T O R P R E S E N TAT I O N J U LY 2 0 1 6 18