IGas Energy overview Leading UK onshore hydrocarbon producer and operator 30 fields with 117 producing wells Recent acquisition of Caithness Oil Limited 1P reserves of 12.0 mmboe, 2P reserves of 20.0 mmboe1 Further potential from…
Where we operate Caithness, Scotland* East Midlands North West / Staffs Weald Basin *Acquisition to complete imminently Other licence IGas licence Oil Field Unconventional Field 3
Highlights Operational Highlights Exploration drilling programme at Barton site underway in line with plans following extensive community engagement Good progress on Chase the Barrels initiative with September production rate net…
Profit and loss account Unaudited 6 months Unaudited 6 months Average realised price per barrel ended 30 September ended 30 September pre-hedge was 67.4 (US104.2) 2013 2012 m m (2012: 67.6 (US106.9)) with narrow discounts to Brent…
Net back / barrel Average realised price per barrel (pre-hedge) 104.2 (2012: 106.9/bbl) 104 Net back to IGas having taken into account operating costs and S,G&A averaged US57.47 57.47 /bbl in the period (6 months to 30 September…
Balance sheet Unaudited at 30 Audited at March 2013 September 2013 m m Balance sheet strengthened during the period due principally to Non-current assets 230.7 231.3 refinancing Current assets: Inventories 1.3 1.1 Net current…
Operational Review
Caithness Oil Limited: Incremental production Incremental production upside Acquisition of 100% interest in the licences of Caithness Oil Limited, including the Lybster Field Discovered in 1996 by Premier Oil and first put into…
Chase the Barrels examples Scampton North B1 Welton B22 Has been shut-in for a considerable period of time, is Objective to return suspended well to production now producing Initial identified upside of 5-10 bopd Previously completed…
Upside potential: Stranded gas monetisation Albury Albury flow tested the well at rate of up to 1.5 MMscf/day (260 boe/d) Albury permitting achieved opportunity to develop potential Other opportunities Electricity sales up 50% over…
Gas appraisal North West licence area Gas Initially In-Place (GIIP) volumes of the North West Low Most Likely High licences estimated 15 Tcf 102Tcf 172 Tcf Spudding exploration well in the X/Y: 280000 300000 320000 340000 360000…
Barton Exploration Well Operations underway as planned Drilling expected to complete Q1 2014 Core and log analysis to follow thereafter Extensive community engagement 13
Barton Community Engagement Community Liaison Group meetings since 2010 Exhibition open day September Barton microsite Newsletter/local magazine advertorials Drop in surgery 14
UK regulatory and political landscape
Our regulatory environment Hydrocarbons in the UK are owned by the Crown and therefore no royalties payable to landowners PEDLs are granted by DECC via licensing rounds The UK regulatory regime is recognised as a global exemplar…
Government and Industry Government has now put full support behind shale development Broad cross party consensus Establishment of the governments new Office of Unconventional Gas and Oil (OUGO) UKOOG Community Engagement Charter…
Building on our strengths History Land Community Financial platform in place to invest in the conventional oil reserves and continue the evaluation of the resource gas potential Substantial position in British discovered…
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