CORPORATE PRESENTATION
DECEMBER 2022
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 not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA"). The securities mentioned herein have not been and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under any U.S. State securities laws, and may not be offered or sold in the United States unless they are registered under the Securities Act or pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. This Presentation is for information purposes only and does not constitute, and the Company is not making, an offer of securities.
While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.
Prospective investors must rely on their own examination of the legal, taxation, financial and other consequences of an investment in the Company, including the merits of investing and the risks involved. Prospective investors should not treat the contents of this Presentation as advice relating to legal, taxation or investment matters and are advised to consult their own professional advisers concerning any acquisition of shares in the Company. This Presentation should not be considered a recommendation by the Company or any of its affiliates in relation to any prospective acquisition of shares in the Company.
Certain of the information contained in this Presentation has been obtained from published sources prepared by other parties. Certain other information has been extracted from unpublished sources prepared by other parties which have been made available to the Company. The Company has not carried out an independent investigation to verify the accuracy and completeness of such third party information. No responsibility is accepted by the Company or any of its directors, officers, employees or agents for the accuracy or completeness of such information.
All statements of opinion and/or belief contained in this Presentation and all views expressed represent the directors' own current assessment and interpretation of information available to them as at the date of this Presentation. In addition, this Presentation contains certain "forward-looking statements", including but not limited to, the statements regarding the Company's overall objectives and strategic plans, timetables and capital expenditures. Forward-looking statements express, as at the date of this Presentation, the Company's plans, estimates, forecasts, projections, opinions, expectations or beliefs as to future events, results or performance. Forward-looking statements involve a number of risks and uncertainties, many of which are beyond the Company's control, and there can be no assurance that such statements will prove to be accurate. No representation is made or assurance given that such statements or views are correct or that the objectives of the Company will be achieved. The reader is cautioned not to place reliance on these statements or views and no responsibility is accepted by the Company or any of its directors, officers, employees or agents in respect thereof. The Company does not undertake to update any forward-looking statement or other information that is contained in this Presentation. Neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the information contained in this Presentation or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.
This document may not be reproduced, copied, published, distributed or circulated, to any third party, in whole or in part, or published in whole or in part for any purpose, without the express prior consent of the Company.
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Board & Management
Driven and highly competent management team with >100 years of UKCS Experience
Graham Swindells
Chief Executive Officer
Graham joined Deltic as Chief Financial Officer in 2013 and became Chief Executive in 2018. He previously worked in corporate finance and M&A, specialising in advising mid and small-cap public companies. Before joining Deltic, he was a Director in Corporate Finance at Ernst & Young. Previously, he was a Director in Corporate Finance at Arbuthnot Securities where he gained significant natural resources experience acting as nominated adviser and broker. He qualified as a Chartered Accountant in Scotland working for BDO and subsequently PwC.
Mark Lappin
Non-Executive Chairman
Mark has over 35 years of experience in the oil and gas industry. Mark's recent roles include Technical Director at Cuadrilla and prior to that Sub- Surface Director for UK and Netherlands at Centrica. Mark began his career as a Geophysicist at Phillips Petroleum and has held senior technical and commercial roles with Phillips, Exxon Mobil and Dart Energy. Mark's North Sea focussed operational, commercial and super-major E&P experience will be hugely valuable as the company moves into the next stage of its development. Mark is a Visiting Professor at University of Strathclyde Centre for Energy Policy.
Andrew Nunn
Chief Operating Officer
Andrew is a Chartered Geologist with over 20 years of experience working on exploration, mining and geo-environmental projects in Europe, Australasia and Africa. For the last 10 years he has worked on a wide variety of UK and European conventional and unconventional gas projects with a primary focus on Carboniferous aged reservoirs. Andrew's previous role was as Exploration Manager for Dart Energy. He holds a B.Sc. (Hons) in Economic Geology and an M.Sc. in Environmental Management. Andrew was appointed as a Director of the Oil and Gas Independents' Association (OGIA) in February 2020.
Sarah McLeod
Chief Financial Officer
Sarah joined Deltic as Chief Financial Officer in January 2020. Sarah has 20 years experience in the international oil and gas industry. She previously held the position of Group Financial Controller at New Age. Sarah spent 10 years with ConocoPhillips in a variety of senior financial and strategic roles and also two years with Maersk Oil. She started her career with Deloitte, spending six years in its oil and gas team during which time she qualified as a Chartered Accountant.
Peter Cowley
Non-Executive Director
Peter Cowley is a geologist with 50 years of international experience in the minerals industry and has been involved in the discovery and development of a number of gold mines in Africa. Peter was previously Managing Director of Ashanti Exploration Limited, Group Technical Director of Cluff Resources Plc, CEO of Banro Corporation and is currently President and a Director of Loncor Resources Inc. He holds M.Sc. and M.B.A. degrees and is a Fellow of I.M.M.M.
Peter Nicol
Non-Executive Director
Peter has 40 years of experience in the energy sector. He was previously Head of Oil & Gas at GMP Securities Europe, Global Sector Director of Oil
- Gas Research at ABN Amro & Head of European Oil & Gas Research at Goldman Sachs. Peter is a non-executive director of exploration focussed Touchstone Exploration Inc. & Eco (Atlantic) Oil & Gas Ltd, both of which are AIM quoted. He is also an independent director of ERC Equipoise Limited. Peter started his career with British National Oil Corporation & holds a Bachelor of Science in Mathematics & Economics
from Strathclyde University
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Our DNA
DELTIC ENERGY
St Fergus | Syros |
Small team of explorationists with over 100 years of experience within the E&P industry
Dedicated to high quality technical work and identification of robust drilling opportunities Proven ability to attract world class partners in Shell and Capricorn providing validation of our technical approach and licensing strategy
UK GAS FOCUSED PORTFOLIO
Low risk, high impact, infrastructure led, exploration portfolio in mature SNS & CNS 9 licences in total, many containing multiple prospects
Heavily weighted towards natural gas - key fuel in transition to low carbon future
Net P50 prospective resources of more than 1.25 TCF (c. 200 mmboe)
TWO SHELL OPERATED WELLS FROM Q4 2022 Teesside
Deltic are participating in two wells targeting gross P50 resources of >600BCF (c. 260BCF or c. 50mmboe net to Deltic).
Pensacola well started drilling operations in November 2022
Selene well expected within 12-18 months depending on Shell rig availability Capricorn partnership expected to deliver further wells
Pensacola
Capricorn JV
Area
EasingtonSelene
EXPLORATION SUCCESS
Shareholders positioned to gain from the significant value upside arising from exploration success Assets are located in close proximity to existing infrastructure enhancing project economics, reducing carbon intensity and facilitating rapid development.
Bacton
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Investor Base and Capital Structure
Strong and supportive shareholder base
Key shareholders *
Holders of <3%
37.9%
Fiske 4.0% | |
Janus Henderson | Canaccord |
5.0% | 7.9% |
IPGL (Michael Spencer)
18.8%
Richard
Sneller
9.7%
Hargreaves
Lansdown
8.7%
Interactive Investor
8.0%
Capital Structure | |
Shares in issue | 1,862m |
Options | 163m |
Free float | 80.8% |
Cash at 30th June 2022 | £7.6m |
Placing and Open Offer net proceeds | £15.1m |
(received Oct 2022) | |
Debt | NIL |
* At 30th November 2022
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Deltic Energy plc published this content on 12 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 December 2022 14:33:02 UTC.