Fastnet Oil & Gas Plc Fastnet Oil & Gas Plc Ladenburg Thalmann Corporate Presentation Africa Upstream Conference February 2014 March 2014 www.fastnetoilandgas.com www.fastnetoilandgas.com
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You are cautioned that forward-looking statements are not guarantees of future performance and that the Company's actual results of operations, financial condition and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Past performance is not a guide to future performance. www.fastnetoilandgas.com 2
Company Overview Moroccan Assets Company Overview Irish Assets Outlook Moroccan Assets Irish Assets Outlook
OVERVIEW Introduction Fastnet is an oil & gas Company primarily focused on exploration in frontier regions. Strategy • Seek high equity positions in prospective assets through identifying early entry or overlooked opportunities • Add value by leveraging management’s regional and technical expertise and to bring in high calibre partners • Monetise assets at the opportune moment followed by a return of cash to shareholders on an asset by asset basis Listed in London on the AIM (‘FAST’) and the Irish Stock Exchange (‘FOI’) www.fastnetoilandgas.com 4
OVERVIEW Investment Case • Early entry with excellent fiscal terms • Significant acreage position (25,192km²) balancing near term high impact exploration and lower risk near term exploration opportunities • Fully financed for current 2014 work programme • Carried on near term offshore exploration in Foum Assaka with high calibre partners • Experienced management team with strong regional knowledge, in- house technical expertise, local relationships and proven ability to attract high calibre partners • Steady pipeline of near-term newsflow offshore and onshore Morocco www.fastnetoilandgas.com 5
THE TEAM Experienced Board & Senior Management Cathal Friel Paul Griffiths Carol Law Michael Nolan Executive Chairman Managing Director Executive Director Non-Exec Director • Former Founding Director • Former CEO, Island Oil & • Former Exploration Manager, • Current Director Cove of Merrion Capital Gas Plc Anadarko East Africa Energy Ltd • Managing Director and one • 35 years of industry • Responsible for the play finding • Former Founder and Group of the founders in 2007 of experience, early stage oil Prosperidade gas complex in Finance Director of Cove Raglan Capital and with & gas prospector, Graduate Rovuma Area 1, offshore Energy PLC over 25 years of managerial, of Royal School of Mines Mozambique entrepreneurial and • Over 18 years of corporate finance • 100% success rate offshore • Also member of teams experience in the resource experience Ireland with Island Oil & responsible for discoveries in exploration sector Gas: 4 wells drilled, two Ghana (Jubilee), Brazil (multiple • One of the founding commercial gas fields Campos Basin discoveries) directors of Merrion Capital, where he was part of the • 30 years of experience in oil and small team that built the gas exploration business and then successfully sold it for close to € 100m in 2006. www.fastnetoilandgas.com 6
Company Overview Moroccan Assets Company Overview Irish Assets Outlook Moroccan Assets Irish Assets Outlook
MORROCO An emerging world-class hydrocarbon basin • Attractive fiscal terms – the value of producing 1bbl of oil in Morocco is equivalent to the value of producing 13bbl in Algeria or 7bbl in Nigeria • Significant domestic demand for hydrocarbons with attractive pricing • Established export options through existing pipeline to Europe • New players in past 18 months include Chevron, BP, Cairn and Genel Other Parties Active: • Politically stable with a constitutional monarchy Chevron and a democratically elected Government Chariot • Multiple wells planned by industry over the next Total 12 months: 7 offshore and 6 onshore wells Fastnet “first mover” strategy prelude to industry recognising already scheduled for drilling in Morocco in Morocco as a key frontier exploration area (yellow) 2013/2014 Near Term Drilling Activity • Fastnet management team an early mover in Morocco beginning 2006 www.fastnetoilandgas.com 8
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