Egdon Resources plc Interim Results for the six months ended 31 January 2015 & Business Review Slide 1 Interim Results April 2015
Egdon at a Glance AIM Listed (EDR) Formed 1997 Established oil & gas exploration & production company Onshore UK focus Existing UK production and cash flow Substantial unused tax shield of 32.9m 34 Licences in the UK and…
Egdon at a Glance Slide 3 Interim Results April 2015
Highlights Six months ended 31 January 2015 Production of 27,232 barrels of oil equivalent (boe) equating to 148 barrels of oil equivalent per day (boepd) (H1 2014: 35,773 boe; 194 boepd) Revised full year production guidance of 180…
Financial Highlights - Six months ended 31 January 2015 Oil and gas revenues during the period 0.91 million (H1 2014: 1.41 million) Loss for the period of 1.74 million including losses on disposals/farm-outs and impairments in…
Egdons Strategy Egdons Strategy: To create shareholder value by building a material asset base through carried unconventional exploration and significant near term conventional exploration onshore UK Three key near-term…
Value Drivers UK Unconventional Resources Strategy and Assets Edgon is focused on brittle high TOC Carboniferous marine shale plays that have sourced oil and gas in Northern England Independently assessed mean undiscovered gas…
Value Drivers UK Unconventional Resources- Deal Value /acre (non N. America) / Argentina 938/acre Neuquen Example US Deal / High Deal 423/acre Sasol/Talisman 38,000/acre / Australia 648/acre Cooper Note LOG SCALE /acre…
Value Drivers UK Unconventional Resources - Sector Outlook 14th Round focus Infrastructure Act 2015 removes considerable regulatory uncertainty regarding horizontal drilling and enhances an already strong and workable regulatory…
Value Drivers - UK Exploration Wressle discovery Wressle Field PEDL180 : Egdon 25% operated Oil and Gas discovery drilling completed September 2014 Extensive testing with work-over rig January-March 2015 Penistone Flags two…
Value Drivers - UK Exploration - Northern England Laughton Prospect PEDL209 : Egdon 60% operated Laughton Prospect on trend with nearby existing production at Corringham (5 km to SE) Multiple conventional reservoir targets Net…
Value Drivers - UK Exploration - Northern England North Kelsey Prospect PEDL241 : Egdon 40% operated Conventional prospect defined on 3D seismic data with multiple reservoir targets Farmed-out 10% interest (2:1 promote) to Union…
UK Appraisal - Northern England A Prospect P.1929 (41/18 & 41/19) : Egdon 100% operated 26th UK Seaward Licensing Round award in April 2013 One of the earliest North Sea discoveries drilled by Total in 1966 Tested gas at 2.5…
Robust Break Even Economics for Active 2015 drilling programme Robust break even economics* for Active 2015 conventional resources drilling programme Compared to Rystad Energy analysis of break even economics of a variety of major…
Value Drivers - UK Production Revised full year production guidance of c. 180 boepd Keddington Oil Field PEDL005 (remainder) : Egdon 75% operated Gross production of c. 35-40 bopd Additional development wells being planned…
Egdon Outlook Timeline/Resources Conventional oil Conventional gas Source: Egdon and external estimates *Post targeted farm down **Subject to planning appeal Bubble size is relative to Gross resources Slide 16 Interim…
Outlook Production Revised full year production guidance of c.180 boepd Lower oil prices will reduce revenues, although bias is to gas production (60:40 gas:oil) Additional production wells under consideration (e.g. Keddington) UK…
Summary UK unconventional resources are a key near term value driver for the business with, of listed companies, Egdon holding the second largest portfolio of acreage with unconventional resource potential and partnered with IGas and…
Appendices Photograph showing Egdon Field Trip to Edale Shales (black shales in foreground) of the Upper Bowland-Hodder Group at outcrop in North Derbyshire beneath the Mam Tor beds Slide 19 Interim Results April 2015
Egdon Resources plc - Timeline Summary timeline: 1997 : Egdon formed by Andrew Hindle and Mark Abbott 1998 : First licence awarded in Wessex Basin 1999 : First French licence awarded 2000 : Listed on OFEX market and raised first…
Key Shareholdings The issued share capital of Egdon Resources plc consists of 221,345,811 ordinary shares of 1 pence each with voting rights Shareholdings in the Company of 3% as advised at 18th March 2015 are: Shareholder %…
Egdon Board 3 Walter Roberts (Non-Executive Director) Walter is an oil and gas lawyer with an engineering background. He qualified as a solicitor with Simmons & Simmons before joining Phillips Petroleum in 1980. In 1986 he set…
Advisors Nominated Advisor and Broker: Cantor Fitzgerald Europe Limited Joint Broker: VSA Capital Limited Corporate Advisors: Evercore Financial Public Relations: Buchanan Reporting Accountants and Advisors: Nexia Smith &…
UK Shale-Gas Deal Timeline An Active Period Major new entrants pay high premiums. .Even with lower oil and gas prices / / / / 423/acre 2 deals 2,977/acre 648/acre 1,707-2,615/acre Aug 2010 PRE May 2013 2013 2014 2015 May…
The Weald Basin PEDL143 and UKOG Jurassic Hybrid play Announced April 2015 a Jurassic Hybrid play, in licences immediately east of PEDL143 in the Weald Basin with reported oil in place of 158 million barrels per square mile UKOG…
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