Jersey Oil & Gas PLC · LSE:JOG
Jersey Oil & Gas — Oil Capital Conference 2017
16 slides from Jersey Oil & Gas's conference presentation, May 11, 2017
Slide 1: Oil Capital Conference Corporate Presentation
Oil Capital Conference Corporate Presentation Building Value in the North Sea 11th May 2017
Slide 2: Disclaimer
Disclaimer The information contained in this document (the “Corporate Presentation”) has been prepared by Jersey Oil and Gas Plc (“JOG”). JOG is a UK company quoted on AIM, a market operated by London Stock Exchange plc. This corporate presentation has not been fully verified and is subject to mater
Slide 3: Jersey Oil and Gas
Jersey Oil and Gas • Management team with over 100 years combined experience in the North Sea People • Key management have significant shareholdings (18.1%) • Licence P.2170 - Verbier prospect – planned for summer 2017 Valuable Exploration • Licence P.1989 - Conditional future payments of up to $4mm
Slide 4: Verbier - Latest News
Verbier - Latest News • Significant resources upgrade to Verbier prospect • Mean Prospective Resources increased to 162MMboe from 118MMboe CPR undertaken by ERC • P10 Prospective Resources increased to 855MMboe from 450MMboe Equipoise Ltd • Chance of success increased to 29% from 26% • Contingent Re
Slide 5: Transocean Spitsbergen Contracted to Drill Verbier
Transocean Spitsbergen Contracted to Drill Verbier • Statoil acquired operatorship – October 2016 • JV Commitment to drill - November 2016 • Acquired site survey Oct/Nov 2016 • Contracted drilling rig March 2017 • Dual-activity semi submersible • Drilling Scheduled for Summer 2017 • Finalising well
Slide 6: Licence P2170 Blocks 20/5b & 21/1d - Location
Licence P2170 Blocks 20/5b & 21/1d - Location 20/5b 21/1d Mean Prospective Resources 162MMbbls Mean Prospective Resources 124MMbbls P2170 6
Slide 7: Licence P2170 - Surrounding Hydrocarbon Occurrences
Licence P2170 - Surrounding Hydrocarbon Occurrences 20/5b & 21/1d P2170 Aberdeen Source: Public records 7
Slide 8: Recent UKCS Upper Jurassic Discoveries
Recent UKCS Upper Jurassic Discoveries Upper Jurassic Reservoir Discoveries >20 MMBoe in the CNS/NNS - UKCS 900 800 700 Recoverable Reserves MMBOE* 600 500 400 Cortina 124 MMboe 300 Verbier 162 MMboe 200 100 0 Buzzard P.2170 Jackdaw Golden Eagle Area Faraday Polecat Huntington Bacchus • Recoverable
Slide 9: Licence P2170 - Late Jurassic Palaeogeography
Licence P2170 - Late Jurassic Palaeogeography 9
Slide 10: Licence P2170 – Verbier Top Fan J64 Depth (ERCE)
Licence P2170 – Verbier Top Fan J64 Depth (ERCE) Block / Basin: 20/5b / Moray Firth P2170 Water Depth: 125m Top Main Reservoir: Higher compaction 3,353m Fan Area (most likely): 25 sq kms Verbier - ML fan outline Geological Province: Deep marine Source Formation / Age: KCF / Upper Jurassic North Buch
Slide 11: Seismic arbitrary line illustrating Verbier prospect
Licence P2170 Seismic arbitrary line (strike) illustrating Verbier prospect X X’ Y Northwest 20/5a-10Y East Verbier Prospect 46ft J64 Sst tested 4,800 bopd +2.6 mmscfd (ODT -12,120ft Compaction effect above fan TVDSS) Top Fan X Base Fan Y X’ 11
Slide 12: Licence P2170 - Verbier Depositional Model
Licence P2170 - Verbier Depositional Model 20/5a-10Y 4,800 bopd 2.6 mmscfd Scotney High Buchan Horst Verbier proposed well location HC Migration N Well locations are approximate 12
Slide 13: Licence P2170 Prospective Resources - Verbier
Licence P2170 Prospective Resources - Verbier P2170 STOIIP - Verbier P2170 Gross Prospective Resources - Verbier 900 855 350 329 800 300 700 250 600 200 177 500 450 440 162 400 340 150 118 113 117 300 312 300 100 68 191 200 135 42 50 100 0 0 P90 P50 P10 Mean P90 P50 P10 Mean JOG Gross Prospective Re
Slide 14: Licence P2170 – Verbier Value Potential to JOG
Licence P2170 – Verbier Value Potential to JOG Resources • Mean Prospective Resources of 162 MMboe* VERBIER Value • Unrisked Gross Prospect NPV(10) £774 million** • Further upside potential with Cortina, Mean Prospective Resources 124 MMboe * Based on CPR estimates ** JOG Management Valuation estima
Slide 15: Production Asset Acquisition Strategy
Production Asset Acquisition Strategy A Production-Lead • Build a diversified non-operated North Sea asset portfolio UKCS North Sea • Skilled diverse team performing extensive technical and commercial due diligence Strategy • Assets with long profiles and upside potential Target Asset Profile • Dive
Slide 16: Conclusion
Conclusion • Rig Contract Awarded Verbier -The Next • Drilling preparation on budget and time Step • Drilling Scheduled for summer 2017 • Mean Prospective Resources 162 MMboe* Verbier - Value • Unrisked Gross NPV(10) £774 million** • Unrisked Net to JOG NPV(10) Value Potential £139 million • Dedicat