Investment Case
A focus on future growth
A producing, cash generative business
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