Corporate Presentation Jun-18
Corporate Presentation Jun-18
Perth, June 20, 2018 AEST (ABN Newswire) - EON NRG Ltd (ASX:E2E) (OTCMKTS:ICRMF) provides the Company's latest Presentation.

Company Highlights 2017/18

Borie Field Acquisition

- Purchased for US$0.9M with Proved Developed Producing (PDP) PV10 valuation of US$2.224M (see Note 1 below)

- Two new wells to drill (Proved Undeveloped (PUD) net reserves of 92 MBO per well with a PV10 value of US$1.3M per well (see Note 1 below)

- Identified a potential Niobrara resource play within leases

- ImpIemented secondary recovery

Silvertip Recompletions

- 162% ROI from 15 shallow gas wellbores recompleted since Q4-2016

- Identified a number of additional PDNP gas recompletions

Debt Paid Down

- Total debt was reduced by US$1.4M in 2017

- Loan facilities were renewed with risk premium of 0.5% over Prime Rate (all up cost interest rate of 5.25% as at 30-Apr-20i8)

Financial Results

- The Group recorded a positive 2017 net profit after tax of US$583k

- The Group recorded its 7th successive positive EBITDA result in 2017

- Q1-2018 positive cash flow of US$83k after all payments (including debt servicing)

Investment Drivers

Value Creation

- Powder River Basin (PRB) prospects leading to drilling program with the potential to deliver 2.22 ROI (see Note 2 below)

- Targeting high impact conventional oil wells, strong economics, supported geology and rejuvenation of proven plays

- Diversification into battery mineral exploration - pursuing low cost, high impact prospects (land acquisition phase)

NearTerm Growth

- Generating exploration prospects with >1 MMBO potential (Powder River Basin - Muddy/Minnelusa)

- Management has proven experience of implementing exploration programs through successful drilling in multiple US Basins, including Minnelusa wells in PRB

Delivering Value Accretion

- Focus on building land holdings with development potential, certifying reserves and resources and creating a robust well drilling program

- Implement full scale development of Eon's discoveries

Notes:

1. Per independent certified reservoir engineer estimate based on average forward oil price of US$53/Bbl

2. ROI - Return on Investment (Discounted cash flow)

To view the full presentation, please visit:
http://abnnewswire.net/lnk/0TLGJ2Y5


About EON NRG Ltd

EON NRG Ltd (ASX:E2E) is a USA onshore focused energy company. The Company is targeting high impact energy exploration projects in oil, gas, and or battery minerals, supported by its 100% owned and operated long life oil and gas production assets and associated cashflow.

   


Contact

Simon Adams
CFO/Company Secretary
Phone: +61-8-6144-0590
Email: sadams@i-og.net

John Whisler
Managing Director
Denver Head Office: +1-720-763-3183
Email: jwhisler@i-og.net

Website: www.eonnrg.com
Twitter: @EonNRG



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