Preliminary Results Presentation Renewed. Resilient. Responsible. 8th March 2022
Disclaimer These materials contain forward-looking statements regarding Capricorn, our corporate plans, future financial condition, future results of operations, future business plans and strategies. All such forward-looking statements…
Introduction Simon Thomson
Introduction Renewed Resolution of India: A refocused energy business Resilient Responsible Building for growth: Production, reserves and exploration Strong balance sheet: Underpins strategic delivery Preliminary Results…
Introduction Strategic Delivery Sustainable Cashflow Base Acquisition of Shells Selected Exploration Western Desert assets Balance Sheet Focus on Egypt and UK: Investing in low cost Flexibility short-cycle, rapid production growth…
Finance James Smith
Finance 2021 Highlights UK Egypt Indian Tax Shareholder Divestment Acquisition Refund Returns Strategic divestment of UK Acquisition of Shells assets International arbitration win US257m special dividend producing assets as they…
Finance 2021 Cashflows Asset Portfolio Management Net Cash US133m: US314m Cash US181m Debt Egypt gross profit of US36m* Cashflow excludes Q4 production revenue receivable in Q1 2022 Opening Special Divested FlowStream…
Finance Egypt Growth Potential 5 Year WI Production and Capex** kboepd USm 100 100 Q4 2021 performance 50 Production: 36,500 boepd* 40 40 75 Production up 8% 30 50 50 (liquids up 21%) 20 20 Revenue: US56m 10 25…
Finance 2022 Capital Expenditure Full Year Guidance Egypt Targeting substantial production Production & growth in 2022 US90-110m Development Egypt Targeted at sustaining the resource base over time US30-35m Exploration…
Finance Strategic Priorities and Delivery Selected Balance Sheet Exploration Flexibility Core area exploration Controllable and flexible to sustain production capital programme Infrastructure led Significant capacity to expand…
Production and Development Paul Mayland
Production and Development Consistent Delivery Within Guidance North Sea Egypt Sale of Capricorns UK North Sea production 2021 WI production 36,500 boepd interests completed Q4 2021 (within guidance of 33,000 38,000 boepd) 2021…
Production and Development Egypt WI Production and Reserves Full Year production in 2021 averaged approximately Reserves now estimated at Year End 2021 36,000 boepd comprising 36% liquids incorporating revised capital plan targeting…
Production and Development Egypt New Investments Three drilling rigs operating, including two strong performing units from prior owner Two more being added during H1 2022 Five work-over rigs operating Low pressure compression…
Production and Development Egypt Growing and Maintaining Production Assets Opportunities Asset Integrity New wells comprise infill opportunities, both BED planned shutdown and plant maintenance accelerating and adding reserves…
Production and Development Egypt Electrification and Decarbonisation Centralised power generation Transmission Already implemented power clusters at Sitra & AESW System Extending power routing within the field to reduce Wells /…
Capricorn Decarbonisation Our Pathway to Net Zero Egypt is a template for other Business Development Opportunities Net Zero by 2040 or earlier Emissions reduction considerations are a core part of all evaluations Focus is scope 1 &…
Exploration Eric Hathon
Exploration Egypt Low Cost, Target-Rich Mediterranean Sea Environment in Mature Basin North Um Baraka The Opportunity Sustain the producing resource base South East Utilise existing infrastructure to drive efficiency Horus Cairo…
Exploration Egypt Exploration Programme Exploration campaign has kicked off 4 10 US3MM 100 MMBOE concessions covering wells planned in first Average dry hole Targeted gross 15,000 km2, 3 operated exploration phase cost per well…
Exploration UK Exploration Programme Diadem P2380 Jaws Twin hub focus with material ILX portfolios P2468 Nelson Area P2379 P2381 Strategic 50:50 JV with Shell Jaws well completed Q1 2022 Nelson Area P&A dry- Jurassic reservoir…
Summary Simon Thomson
Conclusion Summary Positioned to enhance our platform for sustainable Renewed growth, within strict value criteria Resilient Execution of Egypt growth activities with near-term Responsible focus on liquids-rich production…
Appendix
Finance Tender Offer Timeline 7 March 2022 Circular posted Tender offer mechanics* 8 March 2022 Shareholders can tender some or all of their shares: Tender period opens at VWAP** or one of the specified premiums to VWAP (1%, 3%…
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