Ireland Farm-in April 2013 1 EUROPA OIL AND GAS PLC April 2013
This presentation provides background information to the RNS released 18 April 2013 regarding the farm-in of Kosmos Energy to Europas two Licensing Options LO 11/7 and LO 11/8 in offshore Ireland 3 EUROPA OIL AND GAS PLC April…
Ireland Farm-in Highlights Kosmos Energy Ireland, a subsidiary of Kosmos Energy Ltd, is to farm-in to Europas two Licencing Options LO 11/7 and LO 11/8, offshore Ireland Under the terms of the agreement, Kosmos will: acquire an 85%…
About Kosmos Leading independent oil and gas exploration and production company (www.kosmosenergy.com) Listed on New York stock exchange, ticker KOS Market capitalisation US4 billion Portfolio includes offshore Ghana,…
Location Two Licensing Options LO 11/7 and LO 11/8 200km South Porcupine Basin, offshore Ireland, underexplored Large Lower Cretaceous clastic prospects in stratigraphic traps with amplitude support Proven play at Burren (North…
Licence Details LO 11/7 and LO 11/8 200km 1000 km2 each Prior to farm-in 100% Europa Licensing Option duration 1 Nov 2011 31 Oct 2013 Option to apply for Frontier Exploration Licence (FEL), key facts: LO 11/7 Relinquish…
Fiscal Regime Fiscal Regime designed to encourage deep water frontier exploration No royalty, 25% corporate tax rate Additional Tax in form of Profit Ratio* R factor 15% tax in respect of fields where the profit ratio exceeds…
South Porcupine Basin Cross Section N S W E Paleocene Play Dunquin play on PMVR Mullen Kiernan Cretaceous Cretaceous play(West) play (East) Jurassic Pre-rift plays Jurassic Pre-rift plays PMVR: Porcupine Median…
Geoseismic Section: Mullen Dip Line W E MULLEN PROSPECT Development of Late Aptian- Early Albian marine mudstone top seal Lateral/Updip pinch out of turbidite sandstone reservoir Mid Aptian Unconformity and correlative…
Geoseismic Section MULLEN PROSPECT Mid Aptian Unconformity and correlative conformity 43/13-1 12 EUROPA OIL AND GAS PLC April 2013
Analogues - African Transform Margin Cretaceous turbidite sandstones in stratigraphic traps 13 EUROPA OIL AND GAS PLC April 2013
Mullen Prospect Closure defined by structural and stratigraphic mapping Amplitude supported closures 14 EUROPA OIL AND GAS PLC April 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 Base Cretaceous 4 Valanginian B Fan way dip closure…
Kiernan Cross Section Line SPB97-146 Barremian Sequence Aptian Valanginian A Sequence Valanginian Valanginian B Sequence Base Cretaceous Pre-rift Sequence 16 EUROPA OIL AND GAS PLC April 2013
Volumetrics & Resources Prospect Reservoir GRV m3 x 106 Water Reser- Likely depth voir hydro- Licence depth carbon P90 P50 P10 m mbml Mullen Aptian 890 3,980 11,099 1,000 3,750 Oil LO 11/7 Kiernan Barremian 3,400 7,400 14,000…
Prospect Reserve Size Cut-off Derisk with 3D Current position 18 EUROPA OIL AND GAS PLC April 2013
Appendix 19 EUROPA OIL AND GAS PLC April 2013
Post Farm-in Europa Portfolio 20 EUROPA OIL AND GAS PLC April 2013
Europa UK & France NAV Based on CPR & Management Estimates Mean risked Portfolio NAV 86 million Median (P50) Portfolio NAV 45 million 21 EUROPA OIL AND GAS PLC April 2013
Impact of Irish farm-in on Europa NAV Mean risked Portfolio NAV 302 million Median (P50) Portfolio NAV 78 million 22 EUROPA OIL AND GAS PLC April 2013
Europa Volumes & Risk Risk (Chance Resource Gross Unrisked Resources Net Unrisked Resources Net Risked Resources ASSET Fluid Equity cum of Discovery / Category mmbbl/Bcf mmbbl/Bcf Commerciality) mmbbl/Bcf P90 P50 P10 Mean P90 P50…
Europa 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 value NAV) NAV) Mean mm mm mm mm mm p/share UK West…
Oil & Gas Fiscal Regimes UK, France & Ireland 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 bcf/year) cumulative field…
For further information 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 Brides Media & Finance…
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