Corcel Plc · LSE:CRCL
Corcel — Investor Presentation (February 2024)
30 slides from Corcel's investor presentation, February 2024
Slide 1: Corcel Investor Presentation
CORCEL INVESTOR PRESENTATION Upstream Oil and Gas and Battery Metals AIM: CRCL Tobias-14 Well, KON 11, Onshore Angola FEBRUARY 2024
Slide 2: Contents
Disclaimer 3 Active Across Energy Transition Value Chain 4 Accelerated Drive To First Oil And Revenue Generation 5 Onshore Oil & Gas 7 Battery Metals Interests 19 Work Program Timelines 25 The Team 27 UPSTREAM ANGOLAN OIL AND GAS AND BATTERY METALS 2
Slide 3: Disclaimer
Return to contents page DISCLAIMER These presentation slides (the “Slides”) do not constitute The Slides are not for distribution in, nor do they constitute an offer to the public or an offer for sale or solicitation to an offer of securities for sale in, any jurisdiction where such purchase or subs
Slide 4: Active Across Energy Transition Value Chain
Return to contents page CORCEL PLC | AIM:CRCL ACTIVE ACROSS ENERGY TRANSITION VALUE CHAIN Alternative Investment Market Listed (AIM) on the London Stock Exchange KON 11 KON 12 KON 16 Mt Weld Mambare Canegrass Onshore oil and gas Onshore oil and gas Onshore oil and gas Rare Earth Element Nickel-Cobal
Slide 5: Accelerated Drive to First Oil and Revenue Generation
Return to contents page CORCEL PLC | AIM:CRCL ACCELERATED DRIVE TO FIRST OIL AND REVENUE GENERATION Q4 2023 - Q1 2024 Q2 2023 Q3 - Q4 2023 Operational Portfolio Development / Operational and Admin Developments Q4 2024 Restructuring Developments Investors and Major Mambare KON-11 Board KON-11 KON-11
Slide 6: Corcel Plc Equity Performance
Return to contents page CORCEL PLC | AIM:CRCL CORCEL PLC EQUITY PERFORMANCE Growth story offers material upside - Multiple catalysts in play CRCL 1.4 22nd Dec Board change announcement 1.3 1.2 1.1 24th May Angola 18th Sept 13th Nov, 1 Oil and Gas Convertible TO-14 well Acquisition loan agreement spu
Slide 7: Onshore Oil & Gas
Return to contents page ONSHORE OIL & GAS Tobias-14, KON 11, Onshore Angola
Slide 8: Oil and Gas Snapshot
Return to contents page CORCEL PLC | AIM:CRCL Oil and Gas Snapshot Corcel has interests in 3 x onshore oil and gas blocks in a proven hydrocarbon system, system with significant reserve-potential, reserve-potential low cost of development, development attractive investment terms and access to local
Slide 9: Angola Overview
Return to contents page CORCEL PLC | AIM:CRCL Corcel Blocks Pos ANGOLA OVERVIEW T Post 3 Post 2 Boosting production against backdrop of recent declines Population of 33 million Pitchi W Africa’s third largest crude producer with oil dominating the economy dT over Pos 50% 70% 90% Oil Fields of GDP of
Slide 10: Corcel Interests Overview
Return to contents page CORCEL PLC | AIM:CRCL CORCEL INTERESTS OVERVIEW Galinda Field Redevelopment (19 MMbbls) Well understood petroleum system with significant scale and upside Corcel owns 90% of APEX (With interests in three historically producing licences) KON-11 and KON-12 (Non Operated) : brow
Slide 11: Corcel Production Potential
Return to contents page CORCEL PLC | AIM:CRCL CORCEL PRODUCTION POTENTIAL Robust financial strategy to accelerate production of discovered resources to unlock financing for development of larger accumulations Integrated Targeted Production and Cumulative Production Levels 120,000 350,000,000 Signifi
Slide 12: Planned Export and Transportation
Return to contents page CORCEL PLC | AIM:CRCL | BLOCK KON 11 PLANNED EXPORT AND Distance between refinery and Corcel's blocks: Luanda Refinery TRANSPORTATION roughly 150km Operations Strategically Positioned with Access to Local And International Markets Flow Station Refinery Overview: KON11 Truck T
Slide 13: Historic Tobias Field
Return to contents page CORCEL PLC | AIM:CRCL | BLOCK KON 11 HISTORIC TOBIAS FIELD KON-11 Prospective Resources KON-11 65 MMbbls, gross Onshore, Angola - Kwanza Basin 11 OWC = 850 m ss unproduced prospective Reservoir: depth ~700m, binga limestone, porosity resources (net 11.7 Mmbbls) 10 4~14%, high
Slide 14: Tobias Field Full Field Redevelopment Economics
Return to contents page CORCEL PLC | AIM:CRCL | BLOCK KON 11 TOBIAS FIELD 150,000 Tobias Field Cash Flow - 100% 350,000 Full Field Redevelopment Economics 100,000 300,000 250,000 BLOCK KON 11 Cumulative (USD $ M) 50,000 200,000 Annual (USD $ M) 150,000 IRRs >70% at US$70 / bbl 0 100,000 Net to Corce
Slide 15: Tobias Field Work Programme Timeline
Return to contents page CORCEL PLC | AIM:CRCL | BLOCK KON 11 TOBIAS FIELD Work Programme Timeline BLOCK KON 11 TARGET FIRST PHASE REVENUE GENERATION, 2024 Geological and Geophysical Studies Early Production System May Oct Dec Feb Apr Oct Q4 2023 2023 2023 2024 2024 2024 2024 Execution of Risk TO-13
Slide 16: Historic Galinda Field
Return to contents page CORCEL PLC | AIM:CRCL | BLOCK KON 12 Producers 7 Dry hole HISTORIC GALINDA FIELD 2 Oil show KON-12 Prospective Resources KON-12 Standout Producers 19 MMbbls, gross 8 6 unproduced prospective Onshore, Angola - Kwanza Basin Seismic Lines resources (net 4.3 Mmbbls) 3 Reservoir:
Slide 17: KON-16 Corcel Operated Block
Return to contents page CORCEL PLC | AIM:CRCL | BLOCK KON 16 KON-16 CORCEL OPERATED BLOCK KON-16 Corcel Estimated Onshore, Angola - Kwanza Basin Prospective Resources 207 MMbbls Cameia analog and Cuvo formation estimated post-salt leads Historic Morro de Tuenza #1 well with oil shows - drilled in 19
Slide 18: Corcel Oil and Gas Summary
Return to contents page CORCEL PLC | AIM:CRCL CORCEL OIL AND GAS SUMMARY TARGETING FIRST OIL WITHIN 12 MONTHS Complete well testing of TO-14 LICENCE TERMS KON-11 KON-12 KON-16 and then TO-13 Corcel Gross Interest 20% 25% 35% Corcel Net Working Interest 18% 22.5% 31.5%, (Operator) Securing first oil
Slide 19: Battery Metals Interests
Return to contents page BATTERY METALS INTERESTS UPSTREAM ANGOLAN OIL AND GAS AND BATTERY METALS 19
Slide 20: Corcel Plc Snapshot
Return to contents page CORCEL PLC | AIM:CRCL Corcel PLC Snapshot Committed to the energy transition through its minerals portfolio located in prolific mining regions, regions where Corcel offers high upside exposure to multiple critical battery and transition metals. BATTERY METALS INTERESTS 20
Slide 21: Portfolio Aligned with Global Energy Outlook
Return to contents page CORCEL PLC | AIM:CRCL PORTFOLIO ALIGNED WITH GLOBAL ENERGY OUTLOOK BP Energy Outlook (2023), Global Demand Forecast The energy transition leads to a significant increase EJ in the demand for critical minerals 600 New Copper demand Lithium demand Nickel demand Momentum 500 kt
Slide 22: Mt Weld, Australia
Return to contents page CORCEL PLC | AIM:CRCL MT WELD, AUSTRALIA Corcel has 80% ownership of the Mt Weld (P38/4489) Project Mineral tenement, located only 1.4 km (0.9 miles) west-north- Rare Earth Elements project west of Lynas Rare Earths Limited’s (ASX: LYC), world class mine Laverton, Western Aus
Slide 23: Canegrass, Australia
Return to contents page CORCEL PLC | AIM:CRCL CANEGRASS, AUSTRALIA c Corcel has 100% project interest with 3 active tenements - E59/2119, E59/2697 and E59/2698 Lithium project c Canegrass is located 80km southeast of Mount Magnet, WA on Challa Station pastoralist ground Yilgarn craton - Western Aust
Slide 24: Building Strong Financials
Return to contents page CORCEL PLC | AIM:CRCL BUILDING STRONG FINANCIALS SHAREHOLDERS: 3.95% Align Research CRCL Debt Position: £750k of convertible loan notes 9.94% NPC Group outstanding – issued by cornerstone investor Line of Sight to Revenue: 50.06% Other First Oil from Tobias Field (KON 11, Ang
Slide 25: Work Program Timelines
Return to contents page CORCEL PLC | AIM:CRCL WORK PROGRAM TIMELINES 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 TESTING - TO-13 PLANNING AND CONSTRUCTION OF EPS FIRST GEOLOGICAL AND GEOPHYSICAL (EARLY PRODUCTION SYSTEM) OIL DATA ACQUISITION TESTING - TO-14 KON 11 TOBIAS FIELD APPRAISAL CPR (COMPETENT
Slide 26: Corcel Plc Snapshot
Return to contents page CORCEL PLC | AIM:CRCL Corcel PLC Snapshot Corcel is laying the foundation for a material growth story, story backed by low risk brownfield onshore oil assets in Angola and high upside transitional metals projects. UPSTREAM ANGOLAN OIL AND GAS AND BATTERY METALS 26
Slide 27: The Team: Executives
Return to contents page CORCEL PLC | AIM:CRCL | THE TEAM THE TEAM Executives Antoine Karam Jennifer Ayers Geraldine Geraldo Scott Kaintz Executive Chairman Proposed Chief Operating Officer Chief Commercial Officer Chief Financial Officer c Former Chairman of the Board of Cyber I c 25 years of oil an
Slide 28: The Team: Non Executive Directors
Return to contents page CORCEL PLC | AIM:CRCL | THE TEAM THE TEAM Non Executive Directors Yan Zhou Deepak Kohli Pradeep Kabra Andrew Fairclough Non-Executive Director Proposed Non-Executive Director Non-Executive Director Independent Non-Executive Director c Ex Shell EP responsible for Shell EP Asia
Slide 29: The Team: Technical Experts
Return to contents page CORCEL PLC | AIM:CRCL | THE TEAM THE TEAM Technical Experts James Collins Pascal Konneh Geophysics Millenium Engineering c Senior Geophysicist with over 40 years’ experience in exploration and development c Executive Director, Millennium Oil & Gas Engineering (UK) Ltd of oil
Slide 30: Contact
AIM: CRCL Contact: Antoine Karam Executive Chairman [email protected]