Egdon Resources plc Audited Results for the year ended 31 July 2015 & Business Review Onshore UK focused E&P business with robust exploration economics & substantial unconventional resources upside Wressle-1 well site Slide…
Egdon at a Glance Formed in 1997 Established oil & gas exploration & production company AIM Listed EDR Onshore UK focus Existing UK production and cash flow 36 Licences in the UK and France Assets To be offered 7 blocks in…
Egdon at a Glance UK Licences & Activity Slide 3 Preliminary Results 3rd November 2015
Operational and Corporate Highlights Year ended 31 July 2015 Production of 63,149 barrels of oil equivalent (2014: 86,870 barrels of oil equivalent) 173 boepd (2014: 180 boepd) Successful drilling & testing of the Wressle-1 oil…
Financial Highlights - Year Ended 31 July 2015 Oil and gas revenues 2.07 million (2014: 2.96 million) Loss for the period of 4.47 million (2014: 0.46 million loss) after impairment/write downs/pre-licence costs of 3.62 million…
Post Balance Sheet Events Egdon to be offered seven blocks in UK 14th Round first tranche announcement Positive planning appeal outcome and further consents received for Holmwood-1 exploration well in PEDL143 Submission of…
Egdons Strategy Three key near-term strategic objectives to drive shareholder value: UK Unconventional growing the Companys exposure to unconventional Resources resource exploration opportunities in Northern England…
Value Drivers UK Unconventional Resources Strategy and Assets Strategy Focus on Early stage Farm-out to Monetise prior to exploration and acquirer derisk development appraisal Egdon Unconventional Resources Assets Focus on…
Value Drivers UK Unconventional Resources 14th Round Offers in Egdons core areas with potential identified by the BGS Gainsborough Trough 5 blocks offered to Egdon (15%) UK 14th Round Widmerpool Basin 2 blocks offered to Egdon…
Value Drivers UK Unconventional Resources Sector Outlook Government Support Infrastructure Act 2015, clarified Planning Guidance, etc. 2016 could see significant activity in the sector subject to planning & appeals Cleveland…
Value Drivers - UK Conventional Resources Exploration/Appraisal Laughton Prospect on trend with nearby existing production Laughton Prospect at IGass Corringham Oil Field (5 km to SE) (0.78 mmbo*) Drilling expected Q4 2015 COS:…
Value Drivers - UK Developments - Wressle Testing completed during 2015 Combined flow rates 700 boepd from 3 reservoir intervals Wressle Discovery FDP* being developed for Ashover Grit oil production (25% interest) Expected…
Value Drivers - UK Exploration - Timeline Conventional oil Conventional gas Source: Egdon and external estimates *Post targeted farm down Bubble size is relative to Gross Best Estimate Resources Slide 13 Preliminary…
Value Drivers - UK Production 2015-16 Production Guidance = 180 boepd Gross production of c. 10-12 mmcfg/d Ceres Repayment of back-out gas expected 2016-18 results in (10%) continuing cash-flow Gross production of c. 25-30…
Outlook Production guidance of c.180 boepd Production and Additional production wells planned (e.g. Keddington) Development Development of Wressle discovery key target for 2016 Planning application submitted for Springs Road-1…
Summary A leading UK Material 2016 In charge of our unconventional conventional own destiny resources portfolio resources exploration Large and growing UK unconventional resources News flow from 2015 /16 Strong balance sheet…
Egdon Resources plc Audited Results for the year ended 31 July 2015 & Business Review APPENDICES Slide 18 Preliminary Results 3rd November 2015
Share Capital and Shareholders 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 at 2nd November 2015 are: Slide 19…
Egdon Board Slide 20 Preliminary Results 3rd November 2015
Advisors Nominated Advisor and Broker: Cantor Fitzgerald Europe Limited Joint Broker: VSA Capital Limited Corporate Advisors: Evercore Financial Public Relations: Buchanan Accountants and Tax Advisors: BDO LLP Reporting…
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…
Consolidated Statement of Comprehensive Income - Year Ended 31 July 2015 Notes refer to notes in the Annual Report and Financial Statements for the year ended 31 July 2015 Slide 23 Preliminary Results 3rd November 2015
Consolidated Statement of Financial Position - Year Ended 31 July 2015 Notes refer to notes in the Annual Report and Financial Statements for the year ended 31 July 2015 Slide 24 Preliminary Results 3rd November 2015
Value Drivers UK Unconventional Resources- Deal Value /acre (non N. America) / Argentina / Deal 423/acre Neuquen Example US Deal High 648/acre Sasol/Talisman / 38,000/acre 938/acre Australia Cooper Note LOG SCALE /acre…
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