MEXICO & BOTSWANA IN A NEW ERA OF ENERGY REFORM Corporate Presentation TSXV: ROE OTCQV: RNSFF June 2020
Forward-Looking Information Known and unknown factors and risks could cause the actual results, level of activity, performance Certain information in this Presentation may constitute "forward ‐ looking information” within or achievements of the Company to be materially different from those expressed by such forward- the meaning of Canadian securities legislation. Forward-looking information can be identified looking information, including, but not limited to: volatility in market prices for oil and natural gas; the by the use of forward-looking terminology such as “expects”, “plans”, “anticipates”, continuation of the recent global financial crisis and economic downturn; liabilities inherent in oil and “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, gas operations including environmental risks; uncertainties associated with estimating oil and “prospective” or variations of such words and phrases or statements that certain actions, natural gas reserves; competition for, among other things, capital, acquisitions, undeveloped lands events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur. All statements and skilled personnel; incorrect assessments of the value of acquisitions; unanticipated geological, other than statements of historical facts included in this Presentation constitute forward- technical, drilling and processing problems; fluctuations in foreign exchange or interest rates and looking information, including, but not limited to, statements with respect to Renaissance Oil stock market volatility; changes in the laws or application thereof by the governments of the Corp. (“Renaissance” or the “Company”) becoming a major operator in Mexico with the jurisdictions in which Renaissance conducts its business; political, social and economic instability in the foreign jurisdictions in which Renaissance operates; inability to execute on business plans and three blocks awarded to the Company forming a solid foundation to grow the Company; the strategies; increases to capital expenditure programs and the timing and method of financing treatment of Renaissance under the regulatory regimes and laws of the jurisdictions in which thereof; the ability of Renaissance to achieve drilling success consistent with management's Renaissance conducts its business; drilling and completion of wells; operating and capital expectations; higher than expected operating costs; uncertainty with respect to net present values costs and the timing and method of funding thereof; future capital expenditure programs and of future net revenues from reserves; lower than anticipated future production levels from the timing and method of financing thereof; expected timing of development of undeveloped Renaissance's assets; delays with respect to timing of bringing on production; changes to expected reserves; Renaissance's future oil and natural gas production levels; the future performance plans and costs of drilling; drilling inventory and presence of oil pools or gas accumulations; and characteristics of Renaissance's oil and natural gas properties; the estimated size of increased cost projections; global supply and demand for oil and natural gas; ability and costs of Mexico’s and Renaissance's potential oil and natural gas reserves; projections of market increasing plant capacity; expected levels of royalty rates, operating costs, general and prices and costs; projections of supply and demand for oil and natural gas; and expectations administrative costs, costs of services and other costs and expenses; expectations regarding the ability to raise capital and to continually add to reserves through acquisitions, exploration and regarding the ability to raise capital and to continually add to reserves through acquisitions, development; risks and uncertainties related to infectious diseases or outbreaks of viruses, including anticipated exploration and development activities. the COVID-19 pandemic; and such other risks as disclosed in this Presentation, the Company’s management discussion and analysis for the year ended December 31, 2018, which is available on Forward-looking information is necessarily based on the beliefs, estimates, assumptions and SEDAR at www.sedar.com under the Company’s profile and the Company’s other continuous opinions of the Company’s management on the date the forward-looking information is made, disclosure filings. The forward-looking information contained in this Presentation is expressly including assumptions regarding future prices for oil and natural gas; future currency and qualified by these cautionary statements. Although management of the Company has attempted to interest rates; Renaissance's ability to generate sufficient cash flow from operations; access identify important factors that could cause actual results to differ materially from those contained in to debt and/or equity financing to meet its operating costs and future obligations; social, the forward-looking information, there may be other factors that cause results not to be as political and economic developments in jurisdictions in which Renaissance conducts its anticipated, estimated or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. There can be no assurance business; Renaissance's ability to obtain qualified staff and equipment in a timely and cost- that such statements will prove to be accurate, as actual results and future events could differ efficient manner to meet Renaissance's demand; and assumptions related to the factors set materially from those anticipated by such statements. Readers are advised not to place undue forth below. While these factors and assumptions are considered reasonable by the reliance on forward-looking information. Except as required by the securities disclosure laws and Company as at the date of this Presentation in light of management’s experience and regulations applicable to the Company, the Company undertakes no obligation to update this perception of current conditions and expected developments, these statements are forward-looking information if management’s beliefs, estimates or opinions, or other factors, should inherently subject to significant business, economic and competitive contingencies and change. uncertainties . 2
Renaissance Oil Corp. Leading operator in Mexico Key Statistics Mexico’s 1 st shale play drilled by Renaissance, TSXV: ROE | ROE.WT | ROE.WT.A || OTC: RNSFF • LUKOIL & PEMEX - Amatitlán block Basic Shares Outstanding 319.9 MM* Market Capitalization C$ 16.0 MM 60,000 acre Amatitlán block holds over 6 billion • May 2020 Avg. Production 1,220 boe/d Barrels of Oil Equivalent in place in the shales * Does not include 30 MM shares to be Technical team 1 st to develop shales in the US, issued for Botswana transaction, pending • regulatory approval now 1 st in Mexico High impact exploration in Botswana, Africa Option on 50% WI, 2.45 million acre block (9,921 KM 2 ) Northwest Botswana on Kavango Basin • Newly discovered Kavango basin – Drilling by industry in H2 2020 – Multizone, Permian targets • 3
The Mexico Opportunity Mexico holds some of the world’s largest undeveloped oil & gas resources Massive unconventional resources (60.2 Billion Prospective BOE) are • untouched 76 year Pemex monopoly ended in 2015 with first property auctions Decades of limited capital reinvestment • Offshore focus left tremendous onshore opportunities • Slow adoption of modern drilling & completions technologies • M E X I C O I S AN Renaissance drilled 18 wells in 2018 in Mexico: I D E AL J U R I S D I C T I O N Accounts for 11% of all wells drilled in Mexico in 2018 F O R AN AG G R E S S I V E , • G R O W T H - F O C U S E D 18 th well, deep test of the shales at Amatitlán • O I L & G AS C O M P AN Y 4
Botswana: Kavango Basin OPTION ON 50% OF 2.45 MILLION ACRE BLOCK (9,921 KM 2 ) NORTHWEST BOTSWANA Recent interpretation of a high quality (200m spacing) aeromagnetic survey identifies a newly • discovered 30,000’ deep, Permian aged basin Rift sedimentary basin • that has never been drilled Up to 3 wells planed by • industry in H2 2020 to establish commerciality “Nowhere in the world is there a sedimentary basin this deep that does not produce hydrocarbons.” - Bill Cathey President, Earthfield Technologies Aeromagnetic map of base of Kavango basin – Source: Reconnaissance Energy Africa
Botswana: Kavango Basin DEAL TERMS Option to acquire 50% interest in ReconAfrica’s 2.45 • million acre license in Botswana Purchase Price: $1.0 million in first 18 months; • $1.5 million if exercised after 18 months 36 month expiry • Kavango Basin License Terms: • 4 year exploration phase ▪ Botswana Botswana 25 year production period ▪ 20 year renewal ▪ Minimum Work Program US$432,000, full carry to • Renaissance Low royalty rates in Botswana: 3% - 10% •
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