Bowleven Annual General Meeting 12th December 2018 1 Investis/GDPR/PIIData2018
Agenda 1. Strategic Review 2. What is the proposition for Bowleven shareholders 3. Financial Results FY2018 4. Technical studies outline timetable 5. Overview of the Isongo Marine field reservoir 6. Overview of the IE field…
Progress against the strategy has been consistent post the new leadership team Our clear set of strategic priorities established in H1 2017 remain : Maximise the value of Etinde by focussing on development in the short term and…
What is the Bowleven proposition for investors Development plan to be designed and implemented within 12 to 18 months focussed on monetising the value of the Condensate and Challenges around Associated JV partnership focussed…
The market for African O&G asset has been encouraging during 2018 Investment interest from PE funds, oil majors and trade players 31 Oct: Vitol, Africa Oil Corp & Royal Dutch Shell plc, July, signed PSCs for two Delonex Energy…
Agenda 1. Strategic Review 2. What is the proposition for Bowleven shareholders 3. Financial Results FY2018 4. Technical studies outline timetable 5. Overview of the Isongo Marine field reservoir 6. Overview of the IE field…
Financial Performance Cash bridge from 1 July 2017 to 30 November 2018 Cash bridge from 1 July 2017 to 30 June 2018 Cash bridge from 1 July 2018 to 30 November 2018 85.3 (3.5) (1.7) (1.2) 1.1 (19.1) 9.6 0.7 70.8 * 1.6 0.3 62.8…
Financial Performance FY2018 vs FY2017 Financial Key performance metrics Year ending Year ending Variance The implementation of the Boards new strategy 30 June 2018 30 June 2017 in late FY2017, has resulted in a significant reduction…
Agenda 1. Strategic Review 2. What is the proposition for Bowleven shareholders 3. Financial Results FY2018 4. Technical studies outline timetable 5. Overview of the Isongo Marine field reservoir 6. Overview of the IE field…
Post-appraisal technical studies timetable to ascertain best development plan for FID Post appraisal drilling programme, technical studies are currently underway to determine development options and economics for FID Technical…
Agenda 1. Strategic Review 2. What is the proposition for Bowleven shareholders 3. Financial Results FY2018 4. Technical studies outline timetable 5. Overview of the Isongo Marine field reservoir 6. Overview of the IE field…
What the Etinde Development currently offers IM-5 Well Results Exploitation Authorisation (EA) awarded July 2014 EA gives development and exploitation rights over Condensate-rich gas IM-5 flowed on test. block MLHP-7 for an…
IM field Reservoirs and current well location: Indicative P50 wet gas in place volumes Wet gas in place volumes (c.1 tcf) Upper are based on current estimates by Isongo NewAge (field operator). c.200 bcf These are subject to…
Agenda 1. Strategic Review 2. What is the proposition for Bowleven shareholders 3. Financial Results FY2018 4. Technical studies outline timetable 5. Overview of the Isongo Marine field reservoir 6. Overview of the IE…
IE Reservoirs : Post appraisal well completion - Technical studies ongoing (1) 1 2 3 Geological interpretation of the 4 channel deposits are complex as the channels migrate laterally and vertically over time, both eroding and…
IE Reservoirs : Post appraisal well completion - Technical studies ongoing (2) The 410 channel sand deposits are the best developed across the IE reservoirs, although in reality there is no direct correlation to the sands found in…
IE reservoirs : Post appraisal well completion: Technical studies ongoing (3) The unexpected discovery at the IE-4 location was a sequence of thin inter-bedded channel sands above the main 410 Drillbit deposit and their possible…
Agenda 1. Strategic Review 2. What is the proposition for Bowleven shareholders 3. Financial Results FY2018 4. Technical studies outline timetable 5. Overview of the Isongo Marine field reservoir 6. Overview of the IE field…
The Etinde roadmap towards commercialization has commenced (1) Economic BT Consumer - EE (22% of and Commercial FY2018 revenue) The JV partners are taking a fresh look at all Etinde 1. 2. considerations available development…
The Etinde roadmap towards commercialization has commenced (2) 1 IM Discoveries 2 IM Options Under Consideration 3 IE Discoveries Miocene aged Production and Processing Upper, Intra- and platform (CPF) capable of Middle Isongo…
Gas processing and Gas sales options (3) The likely configuration will depend on whether there is a single or multiple offtake solutions for Etinde gas 1. Domestic option Domestic supply is hampered by the Etinde has an obligation…
Etinde upstream JV partners are LUKOIL/NewAge, along with the SNH (post back in being exercised) The largest privately owned oil and gas company in the world by proved reserves. 3Q18 Revenue USD97B, 3Q18 Profit USD7.5 B Accounts…
Agenda 1. Strategic Review 2. What is the proposition for Bowleven shareholders 3. Financial Results FY2018 4. Technical studies outline timetable 5. Overview of the Isongo Marine field reservoir 6. Overview of the IE field…
Company Overview April 18: Revised strategy, cease E&P, Alignment with downsize, align with upstream partners on partners, monetise Etinde Company April 17: June 17: development plan formed 1995. May 18: New Board and Net Loss…
Capitalisation structure and share price movement . Capital Structure 45.00 Share Price in Last 12 Months Listing AIM IM-6 prelim results Share Price 24.7p IE-4 spudding Market Capitalisation 80.88m 40.00 Issued Share Capital…
Small and focused Board and management team Small committed Board with Matt McDonald experience in corporate finance and Chairman M&A Eli Chahin London-based fit for purpose team Chief Executive Officer capable of analysing…
Bowleven today Focussed on development and exploration interests in Cameroon Successfully proved and probable major gas asset with c.1 tcf of wet gas in place Fully carried for the latest two well appraisal programme o IM-6…
Bowleven Plc Ground Floor Suite 1 Collegiate House 9 St. Thomas Street London l SE1 9RY 00 44 (0) 20 3327 0150 www.bowleven.com 29 Investis/GDPR/PIIData2018
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