Egdon Resources plc Interim results for the six-months ended 31 January 2014 Business update Updated shale-gas GIIP estimates UK shale-gas strategy Slide 1 May 2014
Egdon at a Glance AIM Listed (EDR) Formed 1997 Established oil & gas exploration & production company Onshore UK focus Existing UK production of c. 200 boepd & cash flow Substantial unused tax shield 28.0m 27 Licences in the…
Egdons Strategy Egdons Strategy: To create shareholder value by building a material asset base through carried shale gas exploration and significant near term conventional exploration onshore UK Egdon will look to increase…
Interim Report Chairmans Comments The six months under review have been potentially transformational for Egdon. In this period the Company has seen significant interest in our UK shale-gas assets as we begin to deliver on our…
Egdon Share Price Performance Slide 5 May 2014
Operational and Corporate Highlights 6 months to 31 January 2014c Production of 35,773 boe (H1 2013: 37,698 boe) Production of 194 barrels of oil equivalent per day (boepd) for period (H1 2013: 205 boepd) in line with full-year…
Financial Highlights 6 months to 31 January 2014 Oil and gas revenues during the period of 1.41 million (H1 2013: 1.64 million) Profit for the period of 0.83 million (H1 2013: 0.23 million loss) including gains on…
Post-Balance Sheet Events Upgrade to net undiscovered gas initially in place (GIIP) estimates for certain of Egdons Northern England shale-gas assets to mean-case of 18 trillion cubic feet (TCF) Share placing completed in February…
ERCE shale-gas GIIP assessment Licences Reviewed ERC-Equipoise (ERCE) has produced undiscovered gas initially in-place (GIIP) estimates for shale-gas in seven of Egdons licences in Northern England (as highlighted) Range from…
Egdons Shale-gas Strategy Egdon is one of very few publicly quoted companies with an exposure to UK Shale-gas Primary focus is in the exploration and appraisal phase Egdon Shale-gas business model Early Stage Acquirer…
Egdons Shale-gas Strategy Deal Value /acre Outside North America / Argentina Deal 2,977/acre Neuquen Example US Deal / High Sasol/Talisman Deal 423/acre 38,000/acre 2013 Acquisition Australia costs Cooper 159 -234/acre Note…
UK shale-gas - Proven dealmaker Gainsborough Trough Deal Summaries PEDL139/140 Deal PEDL209 Option Deal 2013 Acquisitions Total first major to invest after EDR farms into PEDL209 PL161/162 Option to acquire 50% Follow up deal…
UK shale-gas The Gainsborough Trough Play S Egdon Acreage N Shallow Conventional Reservoirs: Producing oil and gas fields Upper Bowland Hodder (UBH) Unit : 100-150 m thick. Type well Scaftworth-B1 High TOC shale-gas target…
UK Shale-gas Independent Verification of UK Potential PL161/162 Source: Slide 14 May 2014
Value Drivers - UK Conventional Exploration Strong News Flow Wressle Prospect North Kelsey Prospect 25% interest (16.67% paying) 40% interest (30% paying) East Midlands Basin has seen little Prospective resources 0.52 mmboe…
UK Conventional Exploration Initial Drilling Programme Wressle Prospect PEDL180 : Egdon 25% operated Undrilled Prospect defined on 2012 proprietary 3D seismic data Multiple reservoir targets in area with proven hydrocarbon system…
UK Conventional Appraisal - A Prospect Potential Company Maker A Prospect P.1929 (41/18 & 41/19) : Egdon 100% operated Net Egdon Best Estimate Prospective Resources of 150 bcfg (25 mmboe), range 40 to 272 bcfg (7- 45 mmboe) One of…
Egdon Outlook Production Full-year production guidance of c. 200 boepd Further potential drilling at Keddington, Waddock Cross and Kirkleatham could increase production UK Shale-Gas UK shale-gas (and shale-oil) expected to be an…
Egdon Outlook Timeline/Resources Gainsborough Deep Conventional oil (not to scale) Conventional gas Source: Egdon and external estimates *Post targeted farm down **Subject to planning appeal Bubble size is relative to Gross **…
Egdon Summary UK Shale-gas is a key near-term value driver for the business as the UK government embraces the potential for this energy source Deal with Total validates the play and Egdons shale-gas strategy Upgraded…
Appendices Slide 21 May 2014
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…
Advisors Nominated Advisor and Broker: Cantor Fitzgerald Europe Limited Joint Broker: VSA Capital Limited Corporate Advisors: Evercore Financial Public Relations: Buchanan Reporting Accountants and Advisors: Nexia Smith &…
Loading...
