Reabold Resources plc · LSE:RBD
Reabold Resources — Investor Presentation (February 2020)
21 slides from Reabold Resources's investor presentation, February 2020
Slide 1: Reabold Resources plc February 2020
reabold q p resources plc February 2020
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) is being supplied by Reabold Resources Plc (the “Company”) to you for information purposes only. This Presentation has been prepared by and are the sole responsibility of the Company. The directors of the Company have taken all reasonable care to ensure
Slide 3: Disclaimer continued
Disclaimer continued The Company is not responsible for providing regulatory and legal protections afforded to customers (as defined in the rules of the Financial Conduct Authority) nor for providing advice in relation to the contents of this Presentation on any matter, transaction or arrangement re
Slide 4: Introduction
Introduction Management Stephen Williams Sachin Oza • 16 years’ experience in the energy sector • 17 years’ investment experience • Investment analyst focussing on the energy • Investment analyst at M&G Investments from sector at M&G Investments where he worked 2003-2016, covering the Oil & Gas sect
Slide 5: Portfolio Overview
Portfolio Overview • Four investments across the UK, Romania and California Rathlin Energy (UK) Danube Petroleum (Romania) • £20M invested to date for ca 60% ownership • £5M invested to date for 50.8% ownership • Rathlin has a ca 66.7% WI in PEDL 183, which holds • Danube holds a 100% interest in th
Slide 6: Delivering Activity & Success with Drill Bit
Delivering Activity & Success with Drill Bit Project Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 California - On Production Workovers California - West Discovery: On Production Brentwood VG-3 California - West Discovery: On Production Brentwood VG-4 UK Offshore - Wick Dry Hole UK Offshor
Slide 7: PEDL183 – West Newton Discovery
PEDL183 – West Newton Discovery 39% economic interest in West Newton • PEDL 183, located near Hull on the North East coast of England, holds the West Newton discovery PEDL 183 – West Newton Discovery • Two wells at West Newton confirm a major oil and gas discovery • Potentially one of the largest co
Slide 8: PEDL 183 – Surrounding Infrastructure
PEDL 183 – Surrounding Infrastructure Saltend Chemicals Park (Ineos / ENGIE) Aldbrough Gas Storage (SSE) Dimlington Terminal (Perenco/Centrica) Lindsey Refinery (Total) Humber Refinery (Phillips 66) 7
Slide 9: West Newton - A-2 Appraisal Well
West Newton - A-2 Appraisal Well • A-2 well significant discovery in Kirkham Abbey formation; gross oil column of c.45m and gross gas column of c.20m • Oil discovery materially enhances economics; Kirkham Abbey pre-drill NPV1 of $247M ($99M - $124M net2) based on gas. Using $11.50/bbl (assumed in CP
Slide 10: West Newton Forward Plan
West Newton Forward Plan • Appraisal of Kirkham Abbey Formation through flow test at West Newton A2 (WN-2A) well • Update CPR incorporating all data gathered to date as well as testing results • Drill first well from West Newton B site, appraising the Kirkham Abbey as well as targeting the Cadeby in
Slide 11: Danube Petroleum - Parta, Onshore Romania
Danube Petroleum - Parta, Onshore Romania 25% effective economic interest in Parta exploration license and 50% of the defined sole risk area • Reabold has invested £5M into Danube Petroleum for its Net to Danube Net to RBD 50.8% equity interest Prospective Resources 49.9 bcf 25 bcf • Danube holds 10
Slide 12: Parta Appraisal – IM-1 Well
Parta Appraisal – IM-1 Well • IM-1 well resulted in significant uplift on pre-drill contingent resource estimate to 20bcf 1 (from 6.1bcf) • The well intersected key appraisal and exploration targets • PA IV sands (appraisal target) 11bcf • PA III and PA V (new discovery zones) 2.7bcf and 6.3bcf • Be
Slide 13: Parta Forward Programme and Transaction Overview
Parta Forward Programme and Transaction Overview • Reabold has exercised option to invest ~£2M GBP for new Danube shares at 20% premium to pre discovery valuation • Increases Reabold equity ownership to 50.8% • Additional investment will be used for testing at IM-1 and for drilling at IM-2 • IM-1 te
Slide 14: Reabold California
Reabold California • Reabold’s 100% owned subsidiary, Reabold California, which has three licence areas: • West Brentwood 50%; • Monroe Swell 50%; and • Grizzly Island to earn in 50% after drilling 1 well • Five wells drilled to date, all resulting in discoveries and four put into production with te
Slide 15: Reabold California Forward Plan
Reabold California Forward Plan • Drilling programme focused on growing cash flow from highly profitable West Brentwood and Monroe Swell licences • Future wells expected to be funded from California cashflow – self funded organic growth business • Expanding facilities at Monroe Swell to accommodate
Slide 16: Corallian Energy Colter Discovery and Curlew-A Appraisal
Corallian Energy Colter Discovery and Curlew-A Appraisal • Reabold holds a c.35% equity interest in Corallian Energy Corallian Licence Areas • Rich portfolio of UK offshore appraisal and exploration assets • Corallian drilled the Colter appraisal well at a 49% equity interest in Q1’19 • Oil discover
Slide 17: Near-Term Newsflow
Near-Term Newsflow Q4 ‘19 Q1 ’20 Q2 ‘20 Q3 ’20 Q4 ’20 Q1 ‘21 West Newton A - 2 Test B – 1 Well B – 2 Well B – 1/2 Test Danube IM – 1 Test Seismic IM – 2 Well IM – 2 Test California VG – 6 Well Monroe 3rd Well Grizzly Well VG – 7 Well 16
Slide 18: Summary
Summary • Proven management-team, which has established a material and diverse portfolio of investments • Significant existing embedded value in the portfolio. California drilling self-funded, low risk and high return • Recent placing funds invested into highly accretive opportunities in Rathlin and
Slide 19: Board, Management and Advisors
Board, Management and Advisors Stephen Williams – co CEO Sachin Oza – co CEO • 16 years’ experience in the energy sector • 17 years’ investment experience • M&G Investments, energy investment • M&G Investments, global Oil & Gas sector analyst - 2010 to 2016 investment analyst – 2003 to 2016 • Simmon
Slide 20: Sources
Sources The technical information and resources estimates provided in this presentation in relation to the projects in which Reabold has invested have been extracted from the presentations and technical data provided to Reabold by the operating companies in which Reabold has invested. That data has
Slide 21: Reabold Resources plc
reabold resources plc dp
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