2019 Interim Results Return to Growth 11 September 2019
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 3 1H 2019 Key highlights Completion and integration of the Merlon transaction in Egypt STRATEGIC Organic growth through development drilling and capture of…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 4 Strategy for Growth ORGANIC GROWTH Our Vision M&A Portfolio balance across ACTIVITY field life cycle Cash flow and Geographic diversification balance sheet…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 5 Commitment to ESG Environmental, Social and Governance Committee (ESG) To reflect SOCOs ongoing commitment to operating a sustainable business the Board has…
FINANCIAL REVIEW
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 7 1H 2019 Results Summary * PRODUCTION REVENUE DIRECT CASH OPEX 12,541 boepd 92.7m** 9.41/ boe 0.05% 32 % 61% 1H 2018: 7,748 boepd 1H 2018: 93.2m 1H 2018:…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 8 1H 2019 Finance Results Operating Cash Flow 29.8m Cash Generation 300 275 250 29.8 23.2 Vietnam FPSO Costs Down 225 200 175 153.1 4 premium to Brent 150…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 9 Capital Allocation Framework Capital Discipline & Liquidity Capital Allocation EGYPT Overall goal; allocate capital to generate sustainable Commodity price review…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 10 1H 2019 Finance Focus FY 2019 Forecast Capital Low Cash Operating Cost Discipline 9.41/boe TGT 10m Capital Investment in Assets (including abandonment) Capex…
EGYPT
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 12 Egypt Overview Completion of Merlon Transaction April 2nd 2019 Pharos El Fayum - 100% WI EGYPT Short-term strategy Long -term strategy 2019 Grid drilling with…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 13 El Fayum 2019 Activity Two drilling rigs and two (three from October) workover rigs North Silah Deep Field North Silah Field deployed Six wells drilled in H1…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 14 El Fayum Exploration 1,570km2 of exploration acreage of which 70% is covered by existing 3D seismic Conventional 50 identified prospects and leads 15…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 15 El Fayum Optimising sales and marketing Crude Marketing Studies El Fayum schematic production profile Discovered Resource SOCO is evaluating various options…
VIETNAM
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 17 Vietnam Production TGT & CNV 1 Jan - 30 June production average of 7,279 boepd (within guidance range of 6,500 7,500 boepd) TGT production average 5,571 boepd…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 18 Blocks 125 & 126 (SOCO WI 70%) Exploration Acquisition of 7,000 km of new 2D seismic acquisition in the under-explored Phu Khanh Basin was completed on 31 May 2019…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 19 Strategic value creation and growth opportunities Egypt Vietnam Israel Organic El Fayum conventional exploration - Opportunity to increase the existing resource…
SUMMARY & OUTLOOK
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 21 Outlook for 2019 and beyond Investment programme will continue to be allocated over our asset base in a CORPORATE disciplined manner to deliver sustainable…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 22 Looking Forward Ongoing commitment to operating a sustainable business LOW RISK GROWTH OPPORTUNITIES DELIVER SUSTAINABLE RETURNS STRONG BALANCE SHEET 22
Q&A
APPENDIX
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 25 1H 2019 Finances Cash, Cash Equivalents and Liquid Investments* (m) Capital Expenditure (Cash m)* Net Cash from Continuing Operating Activities (m) *25.3m liquid…
SOCO International plc - 2019 Interim Results 11 September 2019 Slide 26 Illustrative per barrel breakdown El Fayum TGT * CNV * Brent Price /bbl 65 65 65 Premium/(Discount) /bbl -5 4 4 Realised Price /bbl 60 69 69 Contractor…
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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