SOCO International plc June 2019 Slide 3 Key highlights this year (1Jan2019-30 April2019) Completion of the Merlon Transaction 2 April 2019 STRATEGIC Continued evaluation of M&A opportunities in line with our strategy 87m cash…
SOCO International plc June 2019 Slide 4 Strategic Overview - Repositioned for Growth M&A Our Vision ACTIVITY Full-Cycle and Growth Orientated E&P of Scale Portfolio balance across CAPITAL ORGANIC field life cycle STRUCTURE &…
VIETNAM UPDATE
SOCO International plc June 2019 Slide 6 Vietnam 1 Jan - 30 April production average of 7,025 boepd TGT production average 5,418 boepd net CNV production average 1,607 boepd net Activity and investment for 2019 to include: CNV -…
SOCO International plc June 2019 Slide 7 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 2 0 Well interventions 18…
SOCO International plc June 2019 Slide 8 Future Vietnam Potential TGT Deeper HPHT potential beneath existing Blocks 125 & 126 (SOCO WI 70%) Phu Khanh Basin producing reservoir HPHT WELL (to be drilled) 2019 Work Programme 2D 2D…
EGYPT
SOCO International plc June 2019 Slide 10 Egypt Operated Low Cost Onshore Oil Located in highly prospective Western Desert of Egypt Surrounded by analogue productive fields and 10 Producing Fields existing infrastructure 100% Oil…
SOCO International plc June 2019 Slide 11 El Fayum Development Short-term strategy Schematic Production Profile El Fayum Concession 2019: Stabilize base production, offset declines from existing waterfloods Re-pressure depleted…
SOCO International plc June 2019 Slide 12 El Fayum Exploration potential Prospects and Leads Locations AR F Resource Play Potential Al Madinah Proven reservoirs in the Western Desert Apollonia oil shows New prospective play AR A…
SOCO International plc June 2019 Slide 13 Exploration Block award North Beni Suef Block 5 (New Concession) Feb 2019 Winning bidder for North Beni Suef (NBS) concession in February 2019 Phase I commitments (3 years): 2 wells +…
CORPORATE RESPONSIBLITY
SOCO International plc June 2019 Slide 15 Adding value in everything we do Our business -To provide responsible and sustainable development Our ethics - To conduct our business in an honest and ethical manner Our people - To…
SOCO International plc June 2019 Slide 16 People case study To ensure the health, safety, security and welfare of our employees and those with whom we work Case Study Vietnam Anthony Roache, Deputy General Manager, HLHVJOC We…
SOCO International plc June 2019 Slide 17 Society case study To consult with and contribute into our host communities Case Study Medical Clinic in Nghe An Province In 2018 the HLHVJOC supported the construction of a medical clinic…
SOCO International plc June 2019 Slide 18 Strategic value creation and growth options Transformational Merger / RTO Bi-lateral third party Paper / paper mergers 250 million negotiations . opportunities Re-rating opportunities…
Appendix
SOCO International plc June 2019 Slide 20 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 16-1 Block 9-2
SOCO International plc June 2019 Slide 21 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 WI 30.5% 30.16% unitised…
SOCO International plc June 2019 Slide 22 Egypt Growth Strategies Potential for future Egypt consolidation Near - term growth strategy 3,500 Bubble size = Net WI remaining Maintain strong balance sheet reserves (50 mmboe)…
SOCO International plc June 2019 Slide 23 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 period 200 80 175 74.34 150…
SOCO International plc June 2019 Slide 25 Capital allocation 2019 GUIDANCE- VIETNAM Capital Low Cash Operating Cost Discipline 13.6/boe 125 & 126 12m Capex Spend Capital Investment in Assets (including abandonment) TGT…
SOCO International plc June 2019 Slide 26 Steady Finances Capital Expenditure (Cash m)* Net Cash from Continuing Operating Activities (m) Cash, Cash Equivalents and Liquid Investments (m)1 *includes abandonment funding 60 250 50 50…
SOCO International plc June 2019 Slide 27 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 sidetrack Onstream late 2018 at…
SOCO International plc June 2019 Slide 28 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 oil rate in Nov and Dec…
SOCO International plc June 2019 Slide 29 Third party business TIA and Gas compressors TGT production in 2018 was impacted by performance issues with the fields gas compressors, which suffered unplanned outages and delivered lower…
SOCO International plc June 2019 Slide 30 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 Trial test was conducted to:…
SOCO International plc June 2019 Slide 31 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 TGT-H1-WHP: - One is to…
SOCO International plc June 2019 Slide 32 TGT and CNV production forecasts Simulated production forecasts for TGT have a large uncertainty range driven by future activities Gross Gross 2P Profile assumptions: 2P Simulated…
SOCO International plc June 2019 Slide 33 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 2 0 Well interventions 18…
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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