Investment Case

A focus on  future growth 

A producing,
cash generative
business

down arrow

VALUE OPPORTUNITY

Oil prices at a seven-year high

MANAGED RISK ACROSS PORTFOLIO

Producing business, generating cash with development and exploration upside

PORTFOLIO OF ORGANIC OPPORTUNITIES

UK CENTRAL NORTH SEA 

  • Maria discovery close to existing infrastructure
  • Located in a highly prospective area of the Central North Sea
  • 6 million barrels mid-case recoverable resources

Egypt

  • Production + Cash generative
  • Clear path to near term low-cost low-risk production from discovered resources and exploration growth
  • 100% Exploration success rate in Egypt since United entered the licence

Jamaica

  • Long- term upside
  • 4 billion barrels unrisked mean prospective resources across the basin

GROWTH AMBITIONS VIA FURTHER INORGANIC GROWTH

Demonstrated by Egyptian acquisition

DISCIPLINED CAPITAL ALLOCATION AND FLEXIBLITY, LOW G&A

Work programme funded by operating cashflow

Proportional spend on exploration and production

Low capex commitments

Underpinned by:

Experienced Board and entrepreneurial Executive team

Strong balance sheet

Commitment to running a responsible business

Strong subsurface, commercial and technical capabilities