2017 KEY HIGHLIGHTS 137.7m Cash, cash equivalents and liquid investments Proposed 2017 dividend 5.25 pence FINANCIAL Receipt of remaining Mongolian proceeds - 42.7m Low operating cost < 14/bbl Vietnam Africa Production 8,276 BOEPD…
COO UPDATE ANTONY MARIS - Chief Operating Officer
MAXIMISING PROFITS IN VIETNAM Cuu Long Basin Blocks 2017 production averaged 8,276 BOEPD net Te Giac Trang (TGT) Production averaged 6,724 BOEPD net Updated Full Field Development Plan - Two infill wells drilled on time and within…
INVESTING IN OUR CORE ASSET Vietnam is a core, valued asset in our portfolio TGT Well Drilling Programme 2017-2018 TGT-30P Activity and investment for 2018 to include: 2018 Capex; TGT - 29.3m, CNV - 4.3m TGT- 16 AP TGT Development…
RECOGNISING OPPORTUNITY Blocks 125 & 126 PSC signed October 2017 - SOCO awarded a 70% operated interest over the two blocks Partners PetroVietnam and SOVICO Holdings Complements existing producing assets - Established presence in…
CFO UPDATE JANN BROWN - Chief Financial Officer
2017 FINANCE RESULTS Revenue (m) Oil Price Realised(/bbl)* 200 *Realised oil price per barrel is the average proceeds received for each barrel of oil sold in the period 80 175 150 60 125 154.6 156.2 56.4 100 40 45.0 75 50 20 25 0…
2017 FINANCE RESULTS Cash, Cash Equivalents and Liquid Investments (m) 200 175 42.7 150 45.0 21.0 125 137.7 29.3 100 100.3 75 50 25 0 Cash at 31 December 2016 Cash from Operating Activities Investments in Assets Mongolia…
ACCOUNTING CHANGES Strategic and Policy Accounting changes (m) 250 Change of Policy to 219.9 200 successful efforts; and 150 67.6 10.9 141.4 Change of Strategy in relation to Africa 100 50 0 Strategic change - Africa…
FINANCE FOCUS 2018 GUIDANCE Capital Low Cash Operating Cost CNV Discipline 13.7/boe 4.3m 125 & 126 6.0m Capital Investment in Assets Capex Spend TGT Allocation 29.3m (including abandonment) 39.6m 29.3m Capital Dividend…
BUSINESS UPDATE Dr. MIKE WATTS - Managing Director
STRATEGIC DRIVERS OUR VISION GROWTH M&A Portfolio rationalisation To create a full cycle, growth Organic growth orientated E&P company of scale focused on maximising total shareholder returns. LIQUIDITY YIELD Broadening of the…
STRATEGY FOR GROWTH A Continuous Process - no one-step solution SOCO FUTURE ORGANIC Strong balance sheet GROWTH Dividend Portfolio diversification M&A Full cycle balance ACTIVITY Resource longevity PORTFOLIO Sustainable…
CORPORATE OBJECTIVE Platform for Growth Platform for Continuing Growth and Maximisation of Total Shareholder Return ASSET BASE GOVERNANCE FINANCIAL STRUCTURE New Board Yield Business (Independent) Compliant with all…
M&A FOCUS: THE RIGHT DEALS SOCO conducted an extensive M&A screening exercise during 2017 and this continues Opportunity screening criteria key considerations Strategic Fit Financial Profile Growth Potential Reason for sale /…
OUTLOOK ED STORY - Chief Executive Officer
POISED FOR GROWTH Steady revenues FINANCIAL Low operating costs STABILITY Long term approach to managing capital A disciplined approach to capital allocation PORTFOLIO Optimisation of TGT & CNV production Portfolio…
APPENDIX
EXECUTIVE TEAM Ed Story Jann Brown Dr. Mike Watts Antony Maris Chief Executive Chief Financial Managing Director Chief Operating Officer Officer & Managing Officer Director Founding Director of SOCO Currently also serves as NED…
AFRICA-CONGO(Brazzaville) MARINE XI EXPLOITATION PERMITS Four exploitation permits (PEXs) within the Marine XI Block, offshore Congo, in respect of the Lidongo, Loubana, Lideka and Viodo prospect areas LOUBANA PEX SOCO was granted…
STEADY FINANCES- POISED FOR GROWTH Capital Expenditure (Cash m)* Net Cash from Operating Activities (m) Cash, Cash Equivalents and Liquid Investments (m) *includes abandonment funding 60 150 50 50 125 137.7 40 46.0 40.1 40 45.0 100…
ACCOUNTING POLICY OLD POLICY NEW POLICY All expenditures incurred in connection with the acquisition, exploration, The Group adopts the successful efforts method of accounting for exploration evaluation and development of oil and gas…
ACCOUNTING POLICY Income Statement Old Policy New Policy Pre Licence Unsuccessful exploration well - Unsuccessful development well within geographic pool - - Relinquished area within retained geographic cost pool -…
CONTACT US Investor Relations SOCO International plc 48 Dover Street London W1S 4FF United Kingdom Tel: 020 7747 2000 Fax: 020 7747 2001 Registered No: 3300821 www.socointernational.com
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