SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 3 2018 Key highlights Shareholder approval of the Merlon Transaction in Egypt with completion on track for 1H 2019 STRATEGIC Portfolio optimisation through…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 4 A year in review M&A Our Vision ACTIVITY Full-Cycle and Growth Orientated E&P of Scale Portfolio balance across CAPITAL ORGANIC field life cycle STRUCTURE &…
FINANCIAL REVIEW
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 6 2018 Finance Results Oil Price Realised(/bbl)* Revenue (m) *Realised oil price per barrel is the average proceeds received for each barrel of oil sold in the…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 7 2018 Finance results Cash, Cash Equivalents and Liquid Investments (m) 300 275 23.3 1.3 0.9 250 225 95.6 240.1 200 22.4 1.2 175 55.9 150 125 137.7 100 75…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 8 Capital allocation 2019 GUIDANCE- VIETNAM Capital Low Cash Operating Cost Discipline 13.6/boe 125 & 126 12m Capex Spend Capital Investment in Assets…
VIETNAM
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 10 Vietnam Net production average of 7,274 boepd TGT production average 5,686 boepd net CNV production average 1,588 boepd net Activity and investment for 2019 to…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 11 CNV 2018 well programme 2018 production averaged 1,588 boepd net CNV Well Programme 2018 Well Results CNV Field Performance Low decline rate CNV-5P-ST2…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 12 TGT 2018 well programme 2018 production averaged 5,686 boepd net TGT Cross Section S N Well Results TGT- 16 AP TGT-16AP - on stream Oct 2018 Produced an average…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 13 Third party business TIA and Gas compressors TGT production in 2018 was impacted by performance issues with the fields gas compressors, which suffered unplanned…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 14 Third party business Test Results Export Gas Specific Gravity & Gas Flare Correlation Gas flare rate reduced from 14-15 to < 1 mmscfd Shut in Shut in Shut in…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 15 The way forward Test result confirms TLJOC production impacts on gas compressor efficiency and TGT oil production HLJOC will install two Manual Control Valves on the…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 16 TGT and CNV production forecasts Simulated production forecasts for TGT have a large uncertainty range driven by future activities Gross Gross 2P Profile…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 17 TGT & CNV JOC approved 2019 budget (gross) TGT and CNV 2P and 2C Oil & Gas Production Forecast (boedp) Approved budget TGT CNV Firm Wells 2 0 Contingent Wells…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 18 Blocks 125 & 126 (SOCO WI 70%) Phu Khanh Basin 125 & 126 PSC Top Basement Map PSC signed 27 Oct 2017 Registration Effective Date 9 Nov 2017 Initial 4 year…
EGYPT
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 20 Egypt Merlon Petroleum acquisition Operated Low Cost Onshore Oil Located in highly prospective Western Desert of Egypt Sidi Kerir Ameryia Max Onshore,…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 21 El Fayum Development Asset Highlights Schematic Production Profile El Fayum Concession 25,000 Ten fields 2P Demonstrated waterflood success in select areas…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 22 El Fayum Development plan Asset Highlights Silah Field Ten Fields Actionable location inventory Future Injector Demonstrated waterflood success in select areas…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 23 El Fayum Planned increase in drilling activity Al Madinah exploration well influences by SOCO Notional Third Rig contract not yet awarded Notional…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 24 El Fayum Exploration potential Prospects and Leads Locations AR F Resource Play Potential Proven reservoirs in the Al Madinah Western Desert New prospective…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 25 Exploration Block award North Beni Suef Block 5 (New Concession) Feb 2019 Merlon announced as winning bidder for North Beni Suef (NBS) concession in February…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 26 Egypt Growth Strategies Potential for future Egypt consolidation Near - term growth strategy 3,500 Bubble size = Net WI remaining Maintain strong balance sheet…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 27 Strategic value creation and growth options Transformational Merger / RTO Bi-lateral third party Paper / paper mergers 250 million negotiations .…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 28 2018 Summary and outlook Shareholder approval of the Merlon Transaction in Egypt with completion on track for 1H 2019 Upon completion of Merlon SOCO will to…
Appendix
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 30 SOCO Vietnam Portfolio NHA TRANG Vietnam Blocks 125 & 126 TGT FPSO CNV WHP with PVD-1 Jack-up rig and hook-up barge HO CHI MINH CITY Block…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 31 SOCO Vietnam Facilities Overview The TGT & CNV fields are located in the Cuu Long Basin TGT Operated by the Hoang Long Joint Operating Company (HL JOC) SOCO…
SOCO International plc - 2018 Full Year Results 6 March 2019 Slide 32 Steady Finances Capital Expenditure (Cash m)* Net Cash from Continuing Operating Activities (m) Cash, Cash Equivalents and Liquid Investments (m) *includes…
Investor Relations SOCO International plc 48 Dover Street London W1S 4FF United Kingdom Tel: 020 7747 2000 Fax: 020 7747 2001 Company No: 3300821 www.socointernational.com
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