Clontarf Energy PLC · LSE:CLON
Clontarf Energy — Investor Presentation (December 2010)
19 slides from Clontarf Energy's investor presentation, December 2010
Slide 1: Clontarf Energy
Clontarf Energy An emerging E&P company focused on Africa and South America – with US Gulf of Mexico income November/December 2010 1
Slide 2: Disclaimer
DISCLAIMER The content of information contained in this Presentation has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”). Reliance upon this Presentation for the purpose of engaging in any investment activity may expose an individu
Slide 3: Disclaimer
DISCLAIMER Neither this Presentation nor any copy of it should be distributed, directly or indirectly, by any means (including electronic transmission) to any persons with addresses in the United States of America (or any of its territories or possessions) (together, the “US”), Canada, Japan, Austra
Slide 4: Clontarf Energy plc will combine production & exploration upside
Clontarf Energy plc will combine production & exploration upside Persian Gold (PNG.L) will acquire Hydrocarbon Exploration plc for new Persian Gold shares The new venture (to be renamed Clontarf Energy plc) will have production in the US & Bolivia and prime exploration in Ghana and Peru Clonta
Slide 5: Clontarf Energy plans to use placing proceeds to explore
Clontarf Energy plans to use placing proceeds to explore High potential exploration properties (following the acquisition of Hydrocarbon Exploration plc): Clontarf Energy will have 60% of Ghana Tano 2A block – 1,532km2 close to 4 recent Tullow Oil plc discoveries Awarded two exploration blocks
Slide 6: Strategy to repeat past success
Strategy to repeat past success: Clontarf Energy intends to Leverage the cash flow from the US and Bolivia assets using the former Pan Andean Resources plc South American management team to build a portfolio of high potential oil and gas properties This management team delivered 3 favourable P
Slide 7: Why Africa & Latin America for oil/gas?
Why Africa & Latin America for oil/gas? Latin America Africa More than 350 Bn boe of reserves discovered More than 330 Bn boe of reserves discovered – Importance of heavy oil and Deepwater – 50% in Sub Saharan Africa rising More than 60% of the prospective area Many hydrocarbon rich basins,
Slide 8: Ghana sweet-spot beside Tullow: Offshore/Onshore Tano Block
Ghana sweet-spot beside Tullow: Offshore/Onshore Tano Block The concession was awarded to ‘Pan Andean Resources Limited’ (Ghana co.): 3°30'0"W 3°10'0"W 2°50'0"W 2°30'0"W 2°10'0"W 1°50'0"W 1°30'0"W 1°10'0"W 0°50'0"W 0°30'0"W 0°10'0"W 0°10'0"E 0°30'0"E 0°50'0"E 1°10'0"E 1°30'0"E 1°50'0"E 6°40'0"N T O
Slide 9: Ghana terms are comparable to Peru & Colombia
Ghana terms are comparable to Peru & Colombia: Approximate government take West Africa is attractive due to Colombia, Peru World Average competitive conditions and large exploration potential Ghana among the most attractive, as terms do not reflect recent exploration success Source: Bernstein Se
Slide 10: Ghanaian Terms
Ghanaian Terms Royalties: 12.5% on oil 10% on Gas Carried Interest: 10% Income Tax 35% Standard Rentals Normal Technology / Training terms Appropriate Work Commitment (given many targets): $20m over 3 years including one well onshore or $35m if an offshore well No bonds or deposits req
Slide 11: Peru: recreate team's recent success: World Class Exploration Portfolio
Peru: recreate team’s recent success: World Class Exploration Portfolio Awarded two exploration blocks in the 2010 tender round: Block 188 has Camisea-type potential, & also prospective for medium-size shallower fields Block 183 in the Maranon Basin, beside existing production. Could connect to
Slide 12: Bolivia: butterfly re-emerging?
Bolivia: butterfly re-emerging? Growing economy powered by commodity exports, including strong gas demand in Brazil & Argentina. The elected government is determined to develop the oil and gas industry Clontarf Energy , through its subsidiary Petrolex SA) holds stakes in two proven projects, El
Slide 13: USA Portfolio of Assets – Production
USA Portfolio of Assets – Production High Island 30 Clontarf holds royalty interests on High Island 52 in the Gulf of Mexico A 1.91% royalty from Gryphon/Dynamic currently producing $30K a month at a $3.80 gas price. Production currently limited due to depressed gas price A 2.15% royalty from
Slide 14: Non-Hydrocarbon Assets: Iran/Bolivia
Non-Hydrocarbon Assets: Iran/Bolivia Clontarf Energy, through its subsidiary, has two joint ventures in Iran: one gold, one copper/gold: An option over 70% of the Chah-e-Zard gold deposit near Yazd. It contains indicated resources of 160,000 ounces of gold and 1 million ounces of silver in oxide
Slide 15: Use of Funds
Use of Funds Assuming £ 3 million raised funds are expected to be used as follows: Ghana: £750,000 – early stage reviews and reworking of existing seismic and well data. Convert leads/prospects to drillable targets Peru: £300,000 for bonds and initial data review Bolivia: £1m – to pay the Clon
Slide 16: Anticipated Timetable
Anticipated Timetable Roadshow 22 Nov – 6 Dec Indications of Interest 8 Dec First Court Hearing & Announcement W/C Dec / Jan Shareholder Meetings W/C end Jan Final Court Hearing & Admission to AIM W/C end Jan / Feb 16
Slide 17: Experienced Board
Experienced Board John Teeling – Executive Chairman David Horgan – Director Established and managed a number of Stock Managing Director of AIM listed Middle East Oil Exchange listed resource companies in the past 30 explorer Petrel Resources plc as well as Clontarf years. Currently chairs 4 AIM reso
Slide 18: Current Status & deal background
Current Status & deal background: Persian Gold (Clontarf Energy) Hydrocarbon Exploration Status AIM Unlisted PLC Shares 75mm 25,000 Price at suspension 6.75p £125 Mkt cap (£mm) 5.1 3.1 Shareholders 600 1,300 Directors/Mgmt 40% 11% Assets 30% Tano 2A Block 30% Tano 2A, Ghana Gold/Copper Concessions 1
Slide 19: Contact Details
Contact Details Clontarf Energy Plc 162 Clontarf Road Dublin 3 Ireland Phone: +353 1 833 2833 Fax: +353 1 833 3505 Email: info@clontarfenergy.com www. clontarfenergy.com 19
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