Deltic Energy Plc · LSE:DELT
Deltic Energy — Investor Presentation (February 2024)
21 slides from Deltic Energy's investor presentation, February 2024
Slide 1: Building Upon Exploration Success
BUILDING UPON EXPLORATION SUCCESS FEBRUARY 2024
Slide 2: Important Notice
Important Notice The information contained in this document (the “Presentation”) has been prepared and distributed by Deltic Energy PLC (the “Company”). It has not been fully verified and is subject to material updating, completion, revision, verification and further amendment. This Presentation has
Slide 3: Board & Management
Board & Management Driven and highly competent management team with >100 years of UKCS Experience Graham Swindells Mark Lappin Chief Executive Officer Non-Executive Chairman Graham joined Deltic as Chief Financial Officer in 2013 and became Chief Mark has over 35 years of experience in the oil and g
Slide 4: Corporate Structure and Major Shareholders
Corporate Structure and Major Shareholders AIM:DELT CAPITAL STRUCTURE MAJOR SHAREHOLDERS3 % Share Price1 31 p IPGL (Michael Spencer) 18.8 Shares in Issue 93m Hargreaves Lansdown 10.2 Options 11m Interactive Investor 10.2 Free Float 80.8% Inthallo (Richard Sneller) 9.8 Cash2 £6.1m Canaccord 5.5 Debt
Slide 5: Delivering Our UK Exploration Strategy
Delivering Our UK Exploration Strategy SYROS PROSPECT High impact SNS Gas Exploration 24.5 mmbls (Gross P50 Prospective Resources) Major discovery with first well at Pensacola in January 2023 100% Deltic Farm-out Process Active Pensacola appraisal well scheduled for Q4 2024 Exploration well on Selen
Slide 6: Core Asset Overview
Core Asset Overview Material Resource Base Focussed on Southern North Sea PENSACOLA DISCOVERY Net Contingent Post-Tax Licence P2252 Resources 2C NPV10 (mmboe) Net to Deltic Working Development 1C 2C 3C USD$M Operator Formation Interest Scenario Gas Only 5.7 15 32 199 Zechstein 30% Shell UK Hauptdolo
Slide 7: Commitment to ESG Governance
Commitment to ESG Governance Governance aligned with QCA guidelines Board supported H&S, Environment & ESG policies Health & Safety. Environment. Net Social Benefit. Climate related disclosures in Annual Report since 2021 Health and Safety Health and safety of staff, public and other stakeholders is
Slide 8: Licence P2252 Pensacola Discovery
LICENCE P2252 PENSACOLA DISCOVERY APPRAISAL WELL PLANNED FOR Q4 2024
Slide 9: Pensacola Discovery (30% Deltic)
Pensacola Discovery (30% Deltic) Competent Persons Report completed by RPS Energy (Jan 2024) 41/10-1Confirms significant oil and gas discovery with gross P50 HIIP of 326 MMboe 41/05a-2 Maiden Contingent Resources estimates based on two potential development scenarios 41/05a-2 Positive commercial eva
Slide 10: Pensacola Discovery Contingent Resources (Gas Only)
Pensacola Discovery CONTINGENT RESOURCES Deltic Net Working Gas Only Development Scenario Hydrocarbon Type Units Interest1 1C 2C 3C Gas Bscf 34 89 190 Independently (RPS) certified contingent resources Condensate MMstb 0.1 0.2 0.4 assessment and valuation Oil Equivalent MMboe2 5.7 15.0 32.0 2C Resou
Slide 11: Pensacola Discovery Contingent Resources (Combined Scenario)
Pensacola Discovery CONTINGENT RESOURCES PENSACOLA DISCOVERY Combined Oil and Gas Development Scenario Hydrocarbon Type Units Deltic Net Working Interest1 COMBINED DEVELOPMENT SCENARIO 1C 2C 3C Gas Bscf 34.1 93.9 185.0 I. Independently Independently (RPS) (RPS) certified contingentresources certifie
Slide 12: Pensacola – Next Steps
Pensacola – Next Steps Appraisal well with Shell scheduled for Q4 2024 JV working towards appraisal in Q4 2024 Near term crystalisation of value from success Positive well investment decision taken by JV in Q4 2023 Deltic seeking an additional partner to the Pensacola JV with Appraisal well schedule
Slide 13: Licence P2437 Selene Prospect
48/8b-2 LICENCE P2437 SELENE PROSPECT APPRAISAL WELL PLANNED FOR Q3 2024
Slide 14: Selene Prospect (25% Deltic)
Selene Prospect (25% Deltic)1 High impact, Shell operated exploration well in Q3 2024 Deltic has 25% of one of the largest untested structures in this established production area Opportunity identified by Deltic and farmed-out to Shell in 2019 and Dana in 2024 Well defined 4-way dip closed Leman Sst
Slide 15: Selene Prospect (Licence P2437) – Dana Transaction
Selene Prospect (Licence P2437) Dana Transaction – Deltic now fully carried for estimated success case drilling costs Deltic to farm-out 25% WI to Dana Petroleum Dana to pay USD$500k in relation to costs incurred by Deltic pre-well Dana to pay 25% of well related costs (ie Site Survey / LLI) incurre
Slide 16: High impact Selene well scheduled for Q3 2024
High impact Selene well scheduled for Q3 2024 Preparatory work for drilling is well advanced Detailed well design work is ongoing at Shell Geophysical site survey completed in August 2023 Geotechnical site survey completed in December 2023 Long lead items ordered to support July well spud Rig contra
Slide 17: Licence P2542 Syros Prospect
LICENCE P2542 SYROS PROSPECT ACTIVE FARM-OUT PROCESS
Slide 18: P2542 - Syros (100% Deltic)
P2542 - Syros (100% Deltic) Infrastructure Led Central North Sea Oil Prospect Updated Interpretation on newly available 3D seismic dataset Rotated Fulmar Sst fault block imaged on Cornerstone Evo 3D seismic Syros is analogous to producing fields and Shell’s recent Orlov discovery Significant offtake
Slide 19: Further upside potential arising from 33rd Licensing Round
Further upside potential arising from 33rd Licensing Round Deltic applied for a package of assets, awards expected from Q1 2024 Building the opportunity set and diversifying the portfolio Deltic has a successful track record of acquiring licences organically Regular licence rounds provide low cost a
Slide 20: Deltic is delivering on its business plan
Deltic is delivering on its business plan UK Gas focussed exploration strategy will deliver value through the drill bit Right product – gas is recognised as key transition fuel Right place – world class gas basin Right time – proposition de-risked following first discovery & further high impact cata
Slide 21: Deltic Energy contact details
Deltic E First Floor 150 Water! London — SE1 8SB United Ki
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