Deltic Energy Plc · LSE:DELT
Deltic Energy — Investor Presentation (July 2024)
28 slides from Deltic Energy's investor presentation, July 2024
Slide 1: Building Upon Exploration Success
BUILDING UPON EXPLORATION SUCCESS JULY 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 40 years of experience in the oil and g
Slide 4: Delivering Our UK Exploration Strategy
Delivering Our UK Exploration Strategy High impact SNS Gas Exploration SYROS PROSPECT 24.5 MMbls (Gross P50 Major discovery with first well at Pensacola in January 2023 Prospective Resources) 100% Deltic Exploration well on Selene gas prospect planned for July 2024 Farm-out Process Active DEWAR PROS
Slide 5: Core Asset Overview
Core Asset Overview Gas Weighted UKCS Exploration & Appraisal Portfolio Gross Prospective CENTRAL NORTH SEA Resources GCoS (MMboe) Working Licence Key HC Operator Formation P90 P50 P10 % Interest No Prospect Type 100% P2542 Syros Deltic Fulmar Sst Oil 13.7 24.5 39.7 58 100% P2646 Dewar Deltic Fortie
Slide 6: Commitment to ESG
Commitment to ESG Governance Governance aligned with QCA guidelines Health & Safety. Environment. Net Social Benefit. Board supported H&S, Environment & ESG policies Climate related disclosures in Annual Report since 2021 Health and Safety Health and safety of staff, public and other stakeholders is
Slide 7: Corporate Structure and Major Shareholders
Corporate Structure and Major Shareholders AIM:DELT CAPITAL STRUCTURE MAJOR SHAREHOLDERS3 % Shares in Issue 93m IPGL (Michael Spencer) 18.8 Options 11m Hargreaves Lansdown 11.4 Free Float 80.8% Interactive Investor 10.2 Cash1 £5.6m Inthallo (Richard Sneller) 9.0 Debt NIL Janus Henderson 5.2 1 as at
Slide 8: Licence P2437 Selene Prospect
LICENCE P2437 SELENE PROSPECT EXPLORATION WELL IN Q3 2024
Slide 9: Selene Prospect (25% Deltic)
Selene Prospect (25% Deltic) Endymion Shell operated exploration well commencing July 2024 Selene Barque Clipper 25% WI in Shell operated Deltic is fully carried in the Located in heart of Leman licence P2437 in the world exploration well following Sandstone fairway, in close class SNS gas basin rec
Slide 10: Selene
Selene Spudding in July 2024, the 48/08b-C well will be appraising a missed pay opportunity in the Selene structure, first drilled in 1989 Initial well 48/08b-2 proved gas presence but encountered unusually poor quality, fractured Leman Sst reservoir and challenged the operator’s structural models l
Slide 11: Selene
A Selene Relatively simple structure but depth conversion complicated by nearby Sole Pit Inversion B’ Zone Modern, best in class re-processing for multiple vintage, short cable acquisition created a seamless PreSDM volume with a rigorous depth model based on seismic velocities A A’ B B’ B 0 BCU A’ 1
Slide 12: Selene
Selene Selene is comparable to nearby producing fields, with little difference in facies or thickness Basin modelling and reconstruction has proven that the structure was not more deeply buried than these offsets – rock property issues are purely down to the influence of ferroan dolomite cements sou
Slide 13: Selene Exploration Well
Selene Exploration Well Final preparations for a July 2024 spud All site survey works complete in Q4 2023 Valaris 123 rig has recently been mobilised after undergoing 5 year maintenance and upgrades Well is designed to provide sufficient information to support a Field Development Plan. No full well
Slide 14: Selene Development Scenario
Selene Development Scenario No further appraisal post the planned well 8 Well Slot minimum facilities NUI Powered by onboard renewables (wind & solar) with gas turbine back-up Simple tie-back to Bacton via Barque (18km) Horizontal wells drilled underbalanced – target up to 450m in reservoir 6 wells
Slide 15: Licence P2672 Blackadder Discovery
LICENCE P2672 BLACKADDER DISCOVERY RECENT LICENCE AWARD
Slide 16: Blackadder Prospect (100% Deltic)
Blackadder Prospect (100% Deltic) High value, low risk, missed pay opportunity in Leman Sst fairway Ravenspurn Blackadder West Sole Easington Formally awarded a 100% WI in Missed pay opportunity in Gross P50 prospective Licence P2672 in July 2024 Leman Sandstone proven by resources of 165 BCF with B
Slide 17: Blackadder – Updated Depth Mapping
Blackadder – Updated Depth Mapping Blackadder and Pharos are a single structure PHAROS BLACKADDER TEVIOT Legacy Depth Structure Map Deltic Updated Depth Structure Map 17
Slide 18: Blackadder – Seismic Section
Blackadder – Seismic Section Updated Deltic interpretation improves depth conversion and structural understanding 18
Slide 19: Licence P2542 Syros Prospect
LICENCE P2542 SYROS PROSPECT ACTIVE FARM-OUT PROCESS
Slide 20: Syros Prospect (100% Deltic)
Syros Prospect (100% Deltic) Low risk, infrastructure led exploration opportunity on Montrose-Arbroath High Syros Aberdeen 100% WI in licence P2542 Simple rotated fault block P50 Prospective Resources located adjacent to the with Fulmar Sst reservoir of 24.5 MMboe with GCoS of Montrose-Arbroath fiel
Slide 21: Syros Prospect
Syros Prospect c.2.7km2 Syros is a fault bound prospect formed by the westerly rotation of a Mesozoic block, containing Jurassic and possible Triassic aged reservoir sandstones sourced from the Montrose-Arbroath High The prospect is clearly identified on seismic data as a tilted fault block within w
Slide 22: Syros Prospect
Syros Prospect Cayley (2017) Mon-Arb CPF at Montrose Jurassic Condensate Field Montrose (1976) and Arbroath tied back to Montrose (1990) Platforms. Palaeocene Oil Syros is close to the recent Platform Exported via FPS Fields with liquids exported via FPS to Grangemouth cluster of Jurassic age develo
Slide 23: Licence P2646 Dewar Prospect
LICENCE P2646 DEWAR PROSPECT RECENT LICENCE AWARD
Slide 24: Dewar Prospect (100% Deltic)
Dewar Prospect (100% Deltic) Infrastructure led opportunity in prolific Forties Sandstone play Dewar Aberdeen Formerly awarded a 100% WI New infrastructure, declining Gross P50 prospective Licence P2646 in May 2024 production and ownership resources of 20.8 MMBO with Blocks 22/24f & 22/25e changes a
Slide 25: Dewar Prospect
Dewar Prospect SW 22/24c-11 NE Drill Ready ILX Exploration opportunity in CNS with DEWAR PROSPECT 21 mmboe P50 Recoverable Forties equivalent channel sand, clearly visible on Top Forties the current seismic dataset High CoS (41%), AVO supported geological model Top Maureen Normal pressure, normal te
Slide 26: Dewar Prospect
Dewar Prospect Multiple potential offtake options, only 8km from ETAP CPF and 12km from Mirren – existing access to ETAP BP’s Skua redevelopment, now named Murlach, is underway to the West Seagull and Culzean recently brought online in the region 8km 12km 8km Maximum (Far-Near)*Far Amplitude Extract
Slide 27: Deltic is delivering on its business plan
Deltic is delivering on its business plan UK Gas focussed exploration strategy aims to deliver value through the drill bit Gas is recognised as key transition fuel World class gas basin High impact catalysts in next 12 months First exploration well with Shell resulted in major oil and gas discovery
Slide 28: Deltic E
Deltic E First Floor 150 Water! London — SE1 8SB United Ki