Sunda Energy PLC · LSE:SNDA
Sunda Energy — Baron Oil — Investor Presentation (May 2024)
17 slides from Sunda Energy's investor presentation, May 2024
Slide 1: Building an Asian Gas Champion
Company Presentation Building an Asian Gas Champion May 2024 www.baronoilplc.com
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer The information contained in this document (“Presentation”) has been prepared by Baron Oil plc (the “Company”). The Company is a UK company quoted on AIM, a market operated by London Stock Exchange plc. This Presentation has not been fully verified and is subject to mat
Slide 3: Baron Oil: Introduction
Baron Oil: Introduction • London AIM-listed E&P Company (BOIL.L) Principal LNG flows in Asia Pacific • Focus on high value gas in SE Asia region • Asia Pacific is the key demand hub for global gas • Displaces coal and oil in electricity generation • Baron plans to change its name to reflect Asia foc
Slide 4: Robust Long-Term Growth in Gas Demand Forecast for SE Asia
Robust Long-Term Growth in Gas Demand Forecast for SE Asia SE Asia gas production & demand, 2018-2050 (PJ) SE Asia electricity generation by economy, 2018-2050 (TWh) • Population and GDP growth trends expected to drive energy demand (including gas) through 2050 • GDP of 4 SE Asia economies expected
Slide 5: Gas needed to displace coal in meeting Asian energy demand growth
Gas needed to displace coal in meeting Asian energy demand growth New and existing coal-fired power plants Energy Demand and Air Quality in Beijing Demand (Bn m3 equiv.) Unhealthy Days* *(defined as an Air Quality index with PM 2.5 greater than 150 µg/m3 ) NE Asia SE Asia Households with air conditi
Slide 6: Proposed New Name Reflects Focus on SE Asia
Proposed New Name Reflects Focus on SE Asia New Name: Sunda Energy plc* (SNDA.L) Origin: Geographical term for much of SE Asia Strategy: Capture and mature material gas assets with robust commercialisation options Competitive Advantages ✓ Robust gas market demand ✓ Strong government alignment Singap
Slide 7: Timor Sea: A Prolific Asia Pacific Gas Development Fairway
Timor Sea: A Prolific Asia Pacific Gas Development Fairway Timor Sea gas fields, key players and infrastructure • Bayu Undan (Santos): • Late life field; preparing for conversion to CCS facility • Greater Sunrise (Woodside): • Ongoing negotiations between JV and governments • Chuditch (Baron/SundaGa
Slide 8: Timor-Leste Operating Environment: Unique Partnerships
Timor-Leste Operating Environment: Unique Partnerships Farm-Up Deal between SundaGas 1 and TIMOR GAP 2 Young, dynamic, democratic republic, with major development challenges 80% Paying costs • Economy dependent on Bayu Undan revenues Share (now depleted) and Petroleum Fund 20% costs • Keen to see th
Slide 9: Chuditch PSC Technical Summary
Chuditch PSC Technical Summary • Chuditch field (SundaGas 60%) • shallow water gas field discovered by Shell in 1998 • reprocessed 3D seismic images field for first time • Contingent Pmean discovered gas resource = 1,165 Bcf 1 • preparing to drill and test Chuditch-2 by early 2025 • evaluating gas d
Slide 10: Chuditch Appraisal Plan
Chuditch Appraisal Plan • Plan to drill and test end 2024 / start 2025 • Appraisal 5.1 km from discovery, in 68m water • 149m gas column expected (vs. 30m at Chuditch-1) • Drill team assembled; site survey completed Slide 9
Slide 11: Example Chuditch Field Development Concept
Example Chuditch Field Development Concept Chuditch Engineering Indicative Gas Production Profile* Concept Study Chuditch NE Chuditch • Simple phased development concept • Long term plateau >300 MMscfd gas can deliver reliable feedstock to LNG facility • Export via pipeline to third-party LNG or Chu
Slide 12: Social Responsibility Initiatives in Timor-Leste
Social Responsibility Initiatives in Timor-Leste • Focus on initiatives that assist capacity building in Timor-Leste ✓ established meaningful country presence ✓ mentoring and training junior local staff ✓ maximising local content to extent possible ✓ knowledge sharing with universities ✓ student int
Slide 13: Baron and Chuditch: Summary Headlines
Baron and Chuditch: Summary Headlines • Baron transitioning to become an Asian gas player • Focus on assets that can supply gas to Asia-Pacific markets • Change of name to Sunda Energy plc to reflect Asian strategy • Chuditch • Gas field is a key asset for Timor-Leste and Baron • >3 Tcf of combined
Slide 14: Baron Oil: Company Overview
Baron Oil: Company Overview TICKER: BOIL.L Market Value: £16m* DIRECTORS AND MANAGEMENT Gerry Aherne Independent Non-Executive Chairman Dr Andy Butler Chief Executive Officer Dr John Chessher Independent Non-Executive Director Keith Bush Independent Non-Executive Director Rob Collins Chief Financial
Slide 15: Glossary
Glossary Term Definition Denotes the low estimate qualifying as Contingent Resources. Reflects a volume estimate that there is a 90% probability that the quantities actually recovered 1C will equal or exceed the estimate Denotes the low estimate qualifying as Prospective Resources. Reflects a volume
Slide 16: Backup: TL-SO-19-16 PSC Commitment Summary
Backup: TL-SO-19-16 PSC Commitment Summary Contract Years Phases Main Commitments Signed 8 Nov 2019 • Years 1 & 2 (Phase One Firm) commitments fulfilled Effective 19 Dec 2019 ✓ • Seismic Reprocessing 1,000 km2 of 3D PSDM 1 Seismic Reprocessing Phase One Firm 19 Dec 2021 ✓ Final 3D PSDM seismic data
Slide 17: Backup: Timor-Leste PSC Fiscal Terms
Backup: Timor-Leste PSC Fiscal Terms • Timor-Leste PSC Fiscal Terms • 5% Royalty • 100% cost recovery, no annual limits ✓ Exploration and Appraisal costs ✓ Capital development costs ✓ Operating costs (including decommissioning pool) ✓ Uplift at (11% + LTBR) • 60% Contractor : 40% State Profit Split