Sunda Energy PLC · LSE:SNDA
Sunda Energy — Baron Oil — Investor Presentation (April 2021)
16 slides from Sunda Energy's investor presentation, April 2021
Slide 1: Corporate Presentation April 2021
Corporate Presentation April 2021
Slide 2: Baron Oil Plc
BARON OIL Pic UK Offshore, Inner Moray Firth Baron 15% interest Gross L0O0Ommboe+ prospect* x 4 x Timor-Leste Offshore Peru Onshore Baron 63.75% indirect interest Baron 100% interest Significant Gas Discovery Drill-ready prospect Gross 580mmboe+ inventory* * Pmean prospective resources, non-PRMS sta
Slide 3: Disclaimer & Important Notice
DISCLAIMER & IMPORTANT NOTICE 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 4: Disclaimer & Important Notice (continued)
DISCLAIMER & IMPORTANT NOTICE (continued) This Presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisers. In particular, this Presentation does not constitute or form part of any offer or invitation to sub
Slide 5: Recent Highlights
Recent Highlights Earn In to Chuditch PSC completed in April 2021 • increased Baron’s effective interest in Timor-Leste Chuditch asset from 25% to 63.75% • Baron’s (net) Chuditch mean prospective resources increased 2.5x to c 375mmboe Key part of Baron’s new strategy • to acquire significant equity
Slide 6: Who is Baron Oil Plc?
Who is Baron Oil Plc? • Baron is an AIM quoted oil & gas John Wakefield - Independent non-executive Chairman exploration company John is an experienced quoted company director, corporate financier and nominated − admitted to trading as Gold Oil in 2004 adviser. He qualified as a solicitor with McKen
Slide 7: Chuditch PSC – The Baron Plan
Chuditch PSC – The Baron Plan • Licence extension granted in February 2021 expected to − allow SundaGas Banda to complete PSC commitment technical work programme; and − assess viability of drilling of an appraisal well and potentially further exploration wells in timely manner • Earn In has increase
Slide 8: Chuditch – Regional Activity
Chuditch – Regional Activity • Santos buys Bayu-Undan, Barossa & Darwin LNG equity • US$1,265mm cash from Conoco-Phillips, May 2020 • Bayu-Undan − US$235mm 3 well infill programme planned Q2 2021 − >20mmboe reserve addition − extends field & pipeline life • Barossa − FID announced in late March 2021
Slide 9: LNG Market
LNG Market Source: Shell LNG outlook 2021 • SE Asia Gas prices and economic activity ahead of pre-COVID levels • Pacific Rim strong demand + supply constraints (source: S&P Global Platts) • 10 year average LNG Japan import price to end 2019 $11.89 per mmBtu (source: IEA, LNG import prices in selecte
Slide 10: 2021: Major Upgrade to Inventory & Seismic Reprocessing Project
2021: Major Upgrade to Inventory & Seismic Reprocessing Project +133% Gas resource* upgrade announced January 2021 Summary of Prospective Resources* GROSS All figures are billion cubic feet of petroleum gas * Non-compliant with 2018 SPE PRMS Low High standard Status Source Estimate Mean Estimate Chu
Slide 11: Chuditch Upside – Potential for a Single Gas Accumulation + Condensate
Chuditch Upside– Potential for a Single Gas Accumulation + Condensate • Chuditch discovery, Shell 1998 • 64m water depth, TD 3,035m • 25 day well, 13 days’ drilling, cost c. $8mm • >25m gas encountered, considerably below mapped crest of structure • good quality, regionally prolific Jurassic Plover
Slide 12: Peru & UK Existing Ventures
Peru & UK Existing Ventures Peru: El Barco-3X well option (Baron 100%) UK: Dunrobin prospect (Baron 15%) • dual objectives • prospective resources 174mmboe* • c. 14bcf* gas at c.1,400m • low-cost option: shallow water, shallow target • c. 8.5mmbbl* oil at c.1,700m • proven reservoir, updip from mino
Slide 13: Corporate Snapshot
Corporate Snapshot INDICATIVE EXPENDITURE IN 2021 3 PLANNED PROJECT ACTIVITY IN 2021 3 Timor-Leste: 65% Timor-Leste: Re-processing & interpretation of 3D seismic DIRECTORS AND MANAGEMENT 1 MANAGEMENT SHAREHOLDINGS ORD (%) John Wakefield Independent Non-Executive Chairman John Wakefield 20,000,000 (0
Slide 14: Chuditch – Indicative Timeline
Chuditch – Indicative Timeline* Notional Net Value Potential Value inflection points 2023 Potential appraisal and exploration wells Q4 2022 Decision to Q1 2022 enter Drill Phase Apr 2021 Final Reprocessing Increase Results Feb 2021 Equity in Chuditch Extension SPV Approved Source: Operator Prospecti
Slide 15: Summary
Summary • Gas in Timor-Leste is a strategic resource • activity accelerating regionally and locally • existing infrastructure being extended • LNG demand forecast to exceed supply • Baron to drive the Chuditch PSC forward • Earn In represents low cost means to secure majority interest • Pmean Prospe
Slide 16: Glossary
Glossary ANPM Autoridade Nacional do Petróleo e Minerais, the national petroleum and minerals authority of Timor-Leste BCF Billion cubic feet of natural gas BG Bank Guarantee in place between the Operator and ANPM to the value of $1mm, returnable on completion of FCP commitments Carnarvon Carnarvon