Egdon Resources plc Interim Results for the six months ended 31 January 2013 & Business Review Slide 1 Interim Results Six months ended 31 January 2013
Egdon (AIM:EDR) Formed in 1997 AIM listed oil and gas exploration and production company focused on onshore UK and France (29 Licences) Approved Operator in UK and France A portfolio of production, development, appraisal and…
Strategy Vision The aim of the Group is to create shareholder value by building a profitable and material exploration and production business with a focus on onshore European operations Strategy The Company advised shareholders…
Financial Highlights 6 months to 31 January 2013 Oil and gas revenues during the period up 6% to 1.64 million (H1 2012: 1.55 million) Loss for the period of 0.2 million (H1 2012: 0.8 million loss, after write down of 1.0 million in…
Operational Highlights Production of 37,698 barrels of oil equivalent (H1 2012: 29,624 barrels of oil equivalent) (27%) Net production of 205 barrels of oil equivalent per day (boepd) for period (H1 2012: 161 boepd) Significant…
Northern England Core Area Production = Keddington, Dukes Wood/Kirklington, Ceres, Kirkleatham Appraisal = Nooks Farm, Westerdale and newly awarded 26th Offshore block covering 41/18 & 41/19 Exploration = conventional and non-…
Northern England - Production Keddington Oil Field PEDL005 (remainder): Egdon 75% and operator Look to maximise value of greater Keddington area Target production in short term of 60-70 bopd 1.35 MW gas to electricity generation…
Northern England - Production Ceres Gas Field P.1241 (47/9): Egdon 10% - non-operated On production since November 2012 (Eris remains offline) Gross Egdon production for period = 0.215 bcf Back-out deficit being repaid solely by…
Northern England Appraisal Nooks Farm PEDL141: Egdon 46% Non-operated 1982 gas discovery drilled by Shell On-going operation to abandon existing wells and drill a production well (Egdon carried) Planning consent received for…
Northern England- Appraisal - 41/18 & 41/19 A Prospect 41/18 & 41/19: Egdon 100% operated 26th UK Seaward Licensing Round award in April 2013 One of earliest North Sea discoveries made by Total in 1966 Well 41/18-1 (A-339/1-2)…
Northern England - Exploration Initial drilling programme expected to commence in H2 2013 at: Wressle Prospect: PEDL 180 Egdon 33.33% operated Undrilled Prospect defined on 2012 proprietary 3D seismic survey Multiple reservoir…
Northern England - Exploration Second exploration drilling programme 2014 to include: North Kelsey Prospect: PEDL241 - Egdon 40% operated 3D defined prospect with multiple reservoir targets Farmed-out 10% interest at 2:1 promote…
Non-Conventional Assets Egdon is exposed to the exploration and evaluation phases of UK shale-gas plays and currently plans to monetise prior to any development Egdon has an existing acreage position which exposes the Company to…
Southern England Core Area Production = Avington, Waddock Cross development in 2013 Appraisal = Langton Herring, North Avington, Markwells Wood Exploration = conventional Sherwood Prospects Wessex Basin Broadmayne, Casterbridge,…
Southern England Production Avington PEDL070: Egdon 26.67% Produces from 2 wells in the Great Oolite reservoir Production at 70 bopd Additional development drilling locations continue to be considered 3P net Egdon Reserves of…
Southern England Exploration Sherwood Sandstone Oil Play Dorset PEDL237/PL090: Egdon 48.75% operated interest Analogous to the Wytch Farm oil field Prospects with combined potential of 29 mmbo Net Egdon Best Estimate Prospective…
France Core Area Conventional exploration focus Development = Grenade Heavy Oil discovery (= proposed disposal) Appraisal = Pontenx Exploration = high potential Triassic gas prospects Audignon Prospect Bastennes Gaujacq Prospect…
France - Appraisal Pontenx Discovery Pontenx: 50% Egdon Interest Parentis Basin on trend with Lucats & Cabeil oilfields Numerous tested structural highs with oil shows and tests Pontenx-3 oil discovery well 36.5o API oil at…
France Exploration Audignon Prospect St Laurent: 33.334% Egdon Interest A significant un-tested play with successful analogues (e.g. Wessex Basin Wytch Farm oil field) Audignon Prospect = sub-salt Bunter gas prospect with multi-TCF…
Work Programme & Outlook 3 near-term objectives to drive shareholder value 1. A focus on maximising production and revenues from existing producing assets 2. Adding additional reserves/production through an active…
Work Programme & Outlook Active farm-out and divestment process A number of farm-outs and deals concluded to date in 2013 Continued marketing and discussions on-going for additional deals Divestment of non-core assets to be…
Work Programme & Outlook Egdon operated needs planning 2013 2014 Activity oil/gas Q2 Q3 Q4 Q1 Q2 Q3 Q4 Drilling Nooks Farm-2 G Wressle-1 * * O Burton on the Wolds-1 * * O Keddington-5 * O Kirkleatham-5 * G…
Summary Significant progress made in delivering on strategy during period Continued focus on maximising production and revenues from existing assets and expect to exceed guidance of 125 boepd for the full year Production wells at…
Appendices Slide 24 Interim Results Six months ended 31 January 2013
Egdon Resources plc - Timeline Summary timeline: 1997 : Egdon formed by Andrew Hindle and Mark Abbott 1998 : First licence awarded in Wessex Basin 1999 : First French licence awarded 2000 : Listed on OFEX market and raised first…
Egdon Board 5. Jerry Field 6.Andrew Lodge 5. 6. (Exploration Director) Aged 56 (non-executive Director) Jerry graduated in 1977 and has over 30 years oil industry Andrew is a highly experienced geoscientist and oil industry…
Loading...
