Investor Presentaiton
A COMPELLING CASE FOR INVESTMENT
Seplat offers low-risk but rewarding exposure to potentially high growth markets
BEST-IN-CLASS EXPOSURE TO NIGERIA'S ENERGY
TRANSITION
> Leading gas supplier in a potentially high-growth market
driven by population growth, increased access to energy
and higher per-capita consumption
> Partner of choice to government in strategic national
initiatives such as ANOH
> Renewables under consideration
EXPERIENCED MANAGEMENT TEAM WITH A
TRACK RECORD OF DELIVERY AGAINST CRISES
> Focus on lowering cost of production, cash recycling and
operational efficiency
> Ability to tailor investment according to prevailing market
conditions
> Proven resilience though previous crises, robust
performance in 2020 despite twin crisis
LOW-RISK PORTFOLIO OF GROWTH
OPPORTUNITIES
> Immediate low-cost gains from new, more secure oil pipelines
> Investment in optimisation technology, field development
and exploration
› Opportunity to acquire new oil and gas licenses in
government sales, or divested assets
> OML 40's Amobe prospect offers high upside reserve
potential
COMMITMENT TO DIVIDEND, ATTRACTIVE VALUATION
AND $400M+ CASH FLOW ALREADY VISIBLE
$
> High yield at present dividend
> Commitment to paying at least $0.05 dividend, with top-ups
as appropriate; 2019 dividend paid despite crisis
> Cash flows underpinned by future receipts of $414m
Westport loan repayment to Seplat
> Debt is low compared to peers and well within headroom,
with most maturities after 2022
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