Proactive Investors One to One Forum Proactive May 2013 Investors One to One Forum May 2013 multi-stage asset revenue JV secured with portfolio backed generative Kosmos Energy Europa Oil &Europa Oil plc Gas (Holdings) and Gas…
Proactive Investors One to One Forum May 2013 OVERVIEW AIM-listed cash generative oil and gas exploration and production company with a balanced portfolio of multi-stage Net mean risked & PROFILE assets including UK onshore…
Proactive Investors One to One Forum May 2013 BOARD OF DIRECTORS Hugh Mackay Hugh Mackay, a geologist, joined Europa in 2011. He has a wealth of experience in the oil and gas sector, including eight CEO years at BP in a variety of…
Proactive Investors One to One Forum May 2013 KEY DATA MARKET AIM TICKER EOG SHARE PRICE 11.25p (20.05.13) MARKET CAP 15.16 million SHARES IN ISSUE 137,855,504 NOMINATED ADVISER & finnCap Ltd BROKER Europa Oil & Gas…
Proactive Investors One to One Forum May 2013 STRATEGY Objective is to become a top quartile AIM company in 5 years Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 6
Proactive Investors One to One Forum May 2013 PORTFOLIO UK FRANCE production and gas appraisal low exploration low risk/moderate risk/modest reward reward IRELAND The Irish Atlantic frontier oil exploration high Margin…
Proactive Investors One to One Forum May 2013 MULTI-STAGE PORTFOLIO OF ASSETS Europa Assets May 2013 Country Working Stage Interest West Firsby UK 100% Production Crosby Warren UK 100% Production Whisby UK 65% Production…
Proactive Investors One to One Forum May 2013 PORTFOLIO PERSPECTIVE Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 9
Proactive Investors One to One Forum May 2013 OFFSHORE WEST IRELAND : AN EMERGING EXPLORATION HOTSPOT o Licencing Options LO 11/7 and LO 11/8 200km o Each cover 1000 km2 in the underexplored South Porcupine Basin, offshore Ireland o…
Proactive Investors One to One Forum May 2013 THE PORCUPINE BASIN Moderate to deep water (1,000-2,000m) Burren Lower Cretaceous oil discovery 700 bopd Dunquin Middle Cretaceous Carbonate prospect 8.4 TCF + 316 MMBO drill…
Proactive Investors One to One Forum May 2013 SOUTH PORCUPINE BASIN CROSS SECTION NW SE Paleocene Play Dunquin play on PMVR Mullen Kiernan Cretaceous Cretaceous play play(West) (East) Jurassic Pre-rift plays Jurassic…
Proactive Investors One to One Forum May 2013 MULLEN PROSPECT Closure defined by structural and stratigraphic mapping Amplitude supported closures Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 13
Proactive Investors One to One Forum May 2013 GEOSEISMIC SECTION: MULLEN DIPLINE W E MULLEN PROSPECT Development of Late Aptian- Early Albian marine mudstone top seal Lateral/Updip pinch out of turbidite sandstone…
Proactive Investors One to One Forum May 2013 ANALOGUES: AFRICAN TRANSFORM MARGIN Cretaceous turbidite sandstones in stratigraphic traps Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 15
Proactive Investors One to One Forum May 2013 KIERNAN PROSPECTS Barremian Fan NE Pre-Rift Jurassic Lead Area 51 km2 Area 50km2 Valanginian A Fan Area 192 km2 SPB97-145 PSB97-50 SPB97-146 Water Depth Contours C.I. 250m…
Proactive Investors One to One Forum May 2013 KIERNAN SEISMIC CROSS SECTION Barremian Sequence Aptian Valanginian A Sequence Valanginian Valanginian B Sequence Base Cretaceous Pre-rift Sequence Europa Oil & Gas…
Proactive Investors One to One Forum May 2013 IRISH VOLUMETRICS & RESOURCES Prospect Reservoir GRV m3 x 106 Water Reservoir Likely Licence depth depth hydrocarbon P90 P50 P10 m mbml Mullen Aptian 890 3,980 11,099 1,000 2,850 Oil…
Proactive Investors One to One Forum May 2013 IRISH LICENCES FARM-IN o Kosmos acquired an 85% interest and operatorship of Europas two Licencing Options o Kosmos to fully fund 3-D seismic programme o Leading independent oil and…
Proactive Investors One to One Forum May 2013 THE NEXT STEPS IN IRELAND: DE-RISK o Licensing Option duration 1 Nov 2011 31 Oct 2013 o Applying for Frontier Exploration Licence (FEL) - key facts: o Relinquish minimum 25% De-risk…
Proactive Investors One to One Forum May 2013 IRISH FISCAL REGIME o No royalty, 25% corporate tax rate Fiscal Regime designed to o Additional Tax in form of Profit Ratio* R encourage deep water frontier factor exploration o 15% tax…
Proactive Investors One to One Forum May 2013 ONSHORE UK PRODUCTION: EAST MIDLANDS o Three producing fields: Crosby West Whisby Warren Firsby o Mean net risked reserves 0.65 million barrels o Achieved target of 200 boepd for…
Proactive Investors One to One Forum May 2013 ONSHORE UK EXPLORATION: EAST MIDLANDS PETROLEUM PROVINCE PEDL 180/182 HUMBER BASIN Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 23
Proactive Investors One to One Forum May 2013 MULTI STAGE PROSPECTS IN THE EAST MIDLANDS PETROLEUM PROVINCE Wressle Prospect (PEDL 180) Broughton Prospect (PEDL 182) PEDL181 Licence Near term drilling Exploration Exploration Europa…
Proactive Investors One to One Forum May 2013 ONSHORE UK EXPLORATION: THE HOLMWOOD PROSPECT, THE WEALD BASIN, SURREY o Jurassic sandstone reservoirs in the PEDL 143 WEALD BASIN Weald Basin, Surrey o Europa 40% working interest (Egdon…
Proactive Investors One to One Forum May 2013 NOTIONAL UK SMALL FIELD CASHFLOW Strong early Tax cashflow Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 26
Proactive Investors One to One Forum May 2013 ONSHORE FRANCE APPRAISAL: BERENX, A COMPANY MAKER o Located in very close proximity to giant gas fields - low geological risk o Fractured carbonate reservoir, hot and sour, similar to…
Proactive Investors One to One Forum May 2013 BERENX GEOLOGIC SETTING Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 28
Proactive Investors One to One Forum May 2013 BERENX: 2-D SEISMIC LINES SHALLOW & DEEP SW Berenx 1 Berenx 2 Sainte Suzanne Thrust NNE Salies Thrust Albian event Gas shows Neocomian event Gas test Lower Kimmeridgian event…
Proactive Investors One to One Forum May 2013 FRANCE: PERMIT RENEWAL STATUS Bearn des Gaves Permit Tarbes Val dAdour Permit 22 November 2011 renewal documents submitted 18 September 2011 renewal documents submitted to BEPH ahead of…
Proactive Investors One to One Forum May 2013 2013 2014: HIGHLY ACTIVE Drill H2 2013 exploration well at Wressle PEDL 180 UK Consider fast follow up with 2nd well if 1st is successful Challenge PEDL 143 Holmwood planning appeal…
Proactive Investors One to One Forum May 2013 WORK PROGRAMME 2013 2014 2015 2016 Licence Prospect Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 PEDL 180 Wressle PEDL 182 Broughton PEDL 143 Holmwood PEDL 181 leads Bearn des Gaves…
Proactive Investors One to One Forum May 2013 INVESTMENT SUMMARY o Combination of stable production and highly prospective exploration o Aiming to drill up to 5 wells in next 24 months o 1 firm well in H2 2013, fully funded from…
Proactive Investors One to One Forum May 2013 CONTACT Europa Oil & Gas (Holdings) Plc Porter Street, London, W1U 6DD UK Telephone +44 20 7224 3770 maileuropaoil.com www.europaoil.com Frank Buhagiar/Lottie Brocklehurst St…
Proactive Investors One to One Forum May 2013 APPENDIX Europa Oil & Gas (Holdings) plc www.europaoil.com AIM : EOG 35
Proactive Investors One to One Forum May 2013 CLASSIFICATION OF EUROPA ASSETS 1P/1C 2P/2C 3P/3C * UK Production France Berenx & Tarbes UK & Ireland exploration Classify by chance of discovery (Risk) applied Source:…
Proactive Investors One to One Forum May 2013 EUROPA PORTFOLIO: VOLUMES & RISK Risk (Chance Resource Gross Unrisked Resources Net Unrisked Resources Net Risked Resources ASSET Fluid Equity cum of Discovery / Category mmbbl/Bcf…
Proactive Investors One to One Forum May 2013 EUROPA PORTFOLIO: RISKED VALUE Net Risked Mean Mean EMV EMV Resource Europa Risked ASSET Fluid Resources unrisked risked Capex net (risked (risked Category /boe NAV mmbbl/Bcf value…
Proactive Investors One to One Forum May 2013 EUROPA NET ASSET VALUE Mean risked Portfolio NAV 86M Median (P50) Portfolio NAV 45M Based on CPR risked and diluted volumes Europa Oil & Gas (Holdings) plc www.europaoil.com…
Proactive Investors One to One Forum May 2013 IMPACT OF IRISH PROSPECTS ON NAV Mean risked Portfolio NAV 302M Median (P50) Portfolio NAV 78M Based on CPR risked and diluted volumes Europa Oil & Gas (Holdings) plc…
Proactive Investors One to One Forum May 2013 OIL & GAS FISCAL REGIMES UK France Ireland Effective rate 62% Effective rate 34.4% Effective rate 25% Exploration & capex Royalty 5% (for 10.6 Up to 15% PRRT if 100% deductible in…
Proactive Investors One to One Forum May 2013 PROFITABLE 4 OUT OF 4 YEARS ,000 Year to 31 July 12 Year to 31 July 11 Year to 31 July 10 Year to 31 July 09 Production, boepd 200 169 180 215 Revenue 5080 3,766 3,091 2,936 Cost of…
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