Egdon Resources plc Preliminary Results for the year ended 31 July 2012 & Business Review Preliminary Results Year ended 31 July 2012
Egdon Overview An AIM listed oil and gas exploration and production company focused on onshore UK and mainland Europe A balanced portfolio of production, development, appraisal and exploration projects with exposure to conventional…
Egdon Resources plc - Vision & Strategy The aim of the Group is to create shareholder value by building a profitable and material exploration business with a focus on onshore European operations Strategy: Recognising the key…
Financial Highlights Revenues from oil and gas sales during the period up 9.9% to 2.61 million (31 July 2011: 2.38 million) Loss for the year 2.89 million (31 July 2011: profit of 4.07 million) Impairment charge recognised of 3.15…
Operational/Corporate Highlights Portfolio of 29 licences in the UK and France as at 31 July 2012 (2011: 29) Production 45,656 barrels of oil equivalent (2011: 46,919 barrels of oil equivalent) 3D seismic programme completed over…
Egdon Revised Focus Areas 29 Licences (3 awaiting award) All Egdons licences in proven producing basins in the UK and France Strategy of rationalising and improving Egdons portfolio Revised strategy to focus on fewer…
Northern England Core Area Production = Keddington, Dukes Wood/Kirklington, Ceres, Kirkleatham Appraisal = Nooks Farm, Westerdale Exploration = conventional and non- conventional (shale-gas) Biscathorpe Prospect Broughton…
Northern England - Keddington Oil Field PEDL005 (remainder): Egdon 75% and operator Look to maximise value of greater Keddington area Target production in short term of 70-80 bopd Imminent sanction of 1.35 MW gas to electricity…
Northern England - Ceres Gas Field P.1241 (47/9): Egdon 10% - non-operated No significant contribution to production during period Infrastructure issues Perenco assume operatorship November 2012 Expected to resume production during…
Northern England Kirkleatham Gas Field & Westerdale-2 Kirkleatham PEDL068: Egdon 40% and operator Gas sold to Sembcorp at Wilton for use in Gas Turbine (GT2) Water loading issues in tubing well shut-in awaiting…
Northern England - Dukes Wood/Kirklington Dukes Wood/Kirklington: PEDLs 118 & 203 Egdon 50% operated To be jointly developed - Kirklington-3z and Dukes Wood-1 Dual completion of DW-1 = water disposal hub September 2012 production…
Northern England - Broughton/ Wressle / North Kelsey 3D Defined prospects Broughton Prospect: PEDL182 Egdon 33.33% operated Broughton-B1 flowed oil (40 bopd) Up-dip potential identified and additional reservoir targets Net Egdon…
Northern England - Burton on the Wolds Prospect Burton on the Wolds: PEDL201 Egdon 37.5% operated Defined on 2011 proprietary 2D seismic survey Twin objectives: Conventional target, productive at nearby Rempstone oil field Seismic…
Northern England- Non-Conventional Assets Egdon is exposed to the exploration and evaluation phases of UK shale-gas plays Egdon has an existing acreage position which exposes the Company to near-term non-conventional hydrocarbon…
Southern England Core Area Production = Avington, Waddock Cross development in 2013 Appraisal = Markwells Wood, Langton Herring, North Avington Exploration = conventional Sherwood Prospects Wessex Basin Broadmayne, Casterbridge,…
Southern England Avington & Waddock Cross Avington: PEDL070 Egdon 26.67% Produces from 2 wells in the Great Oolite reservoir Production at c. 70 bopd Additional development drilling locations continue to be considered 3P net Egdon…
Southern England Wessex Basin Sherwood Sandstone Oil Play Dorset: PEDL237/PL090 Egdon 55% operated interest Analogous to the Wytch Farm oil field Prospects with combined potential of 33 mmbo Net Egdon Best Estimate Prospective…
France Core Area Conventional exploration focus Production = Grenade Heavy Oil discovery Appraisal = Pontenx Exploration = high potential Triassic gas prospects Audignon Prospect Bastennes Gaujacq Prospect (on award of…
France Triassic Gas Prospects A significant un-tested play with successful analogues identified (e.g. Wessex Basin Wytch Farm oil field) Audignon Prospect = Identified sub-salt Bunter gas prospect with multi-TCF potential (Net Egdon…
France - Pontenx Prospect Parentis Basin on trend with Lucats & Cabeil oilfields Numerous tested structural highs with oil shows and tests Pontenx-3 oil discovery well 36.5o API oil at maximum flow rates of 218 bopd on test Planned…
2013-14 Planned Work Programme Egdon operated needs planning 2012 2013 2014 Activity oil/gas Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Drilling Nooks Farm-2 G Mairy-1 O Broughton-2 or Wressle-1 * * O Burton on the Wolds-1 *…
Near-term Work Programme & Outlook Production Full-year production guidance of c. 125 boepd from Keddington, Avington, Dukes Wood/Kirklington and Ceres Sustained production at Ceres could increase daily rates to 225 boepd…
Near-term Work Programme & Outlook UK Shale-Gas Summary CPR to be published on PEDL139/140 Net Egdon GIIP of 1.74 tcf Gainsborough Deep-1 exploration well planned for 2014 Strategy to increase exposure to UK shale-gas acreage in…
Summary Despite recent near-term production set-backs, the existing and expected UK production and revenues, a renewed focus on farm-outs and non-core asset monetisation should enable Egdon to fund its drilling priorities and…
Appendices Slide 25 Preliminary Results Year ended 31 July 2012
Egdon Resources plc - History 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…
Egdon Board 5. Jerry Field 6. Andrew Lodge 5. 6. (Exploration Director) Aged 56 (non-executive Director) Jerry graduated in 1977 and has over 30 years oil industry Andrew is a highly experienced geoscientist and oil industry…
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