Q1 Presentation May 2021 - Deutsche Rohstoff AG
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Q1 Presentation May 2021
2 HIGHLIGHTS Q1 2021
3 DEUTSCHE ROHSTOFF HAD A VERY GOOD START INTO 2021 ▪ Oil production running at full capacity again since early January ▪ Total of 578,912 BOE or 329,309 BO produced: well above expectation from the beginning of the year ▪ Strong performance of oil/gold bond/stock portfolio: EUR 8.5 million realized gain in Q1 ▪ Strong increase in cash and cash equivalents to EUR 70.8 million (securities, receivables, cash) ▪ Bright Rock receives approval to form a Federal Unit in Wyoming ▪ First well planned for 2021 ▪ Almonty makes major progress towards development of Sangdong project in South Korea
4
STRONG IMPROVEMENT OF KEY FINANCIAL FIGURES
FORECAST FY Q1/2021 Q1/2020 2020
Production in BOEPD 5.700 - 6.300 6.432 6.348 4.213
Revenue 57-62 17,9 16,1 38,7
EBITDA 42-47 21,3 9,5 23,9
Net Profit Significantly positive 11,7 0,9 -16,1
Assets 231,8 268,8 206,7
Cash and Cash Equivalents* 48,9 70,2 36,0
Receivables 21,9 12,1 10,8
Equity 61,8 74,8 45,6
Liabilities (bonds) 114,4 114,4 114,4
Liabilities (banks) 9,6 18,7 14,0
Equity ratio in % 27 28 22
* Cash, Securities classified as fixed and current assets BOEPD: barrel of oil equivalent per day
5 US OIL AND GAS BUSINESS
6
OUR ACTIVITIES ARE SPREAD ACROSS FOR STATES
WILLISTON
BASIN ME
WA
POWDER MT ND
NY
OR
RIVER BASIN MN
WI
ID SD
WY MI
UINTA PA
BASIN DJ BASIN IA OH
NE IN
NV IL WV VA
UT KY
CA CO KS MO
NC
DENVER
TN
SC
AZ OK AR
NM AL GA
MS
TX LA
FL
7 OLANDER AND KNIGHT SET PRODUCTION PACE THIS YEAR AND NEXT
8 THE ELEVENTH OF TWELVE KNIGHT WELLS IS CURRENTLY UNDERWAY
9
BRIGHT ROCK ENERGY WITH APPROVED WELL SITE AND LARGE ACREAGE
PACKAGE IN THE POWDER RIVER BASIN
▪ Acreage package in the Powder River Basin with 28.000 net
acres
▪ Production from 5 wells with currently 150 BOPD (net)
▪ Large Cap Operators working close by
▪ 7 Drill Rigs active in the basin (up from zero six months ago)
▪ Bright Rock will likely drill first well later this year
100km
Bright Rock Acreage with Buster DSU Chesapeake Energy
Devon Energy
EOG Resources
10 FOR 2021, WE EXPECT A SIGNIFICANTLY IMPROVED OIL BUSINESS ▪ Q1 already produced around 37% of full-year barrels of oil forecast in January ▪ Olander pad could be restarted without any problems and delivers very good results ▪ Net oil price achieved and margin increase in Q2 due to rising WTI ▪ Knight drilling nearing completion. Production start realistic in Q4 ▪ High profitability of Knight wells expected due to relatively low drilling costs and high oil price
11
ALMONTY – LEADING PRODUCER OF TUNGSTEN
HIGHLIGHTS Q1 + Q2
▪ Share price doubled
▪ APT increases with other metals
LOCATIONS
▪ Maturity of major part of liabilities extended to 2023
▪ Further capital increases or commitments to cover the
equity portion of project financing completed
▪ Extension of ESG-program in Portugal and South Korea
▪ ASX: trading will likely commence in June
▪ Financial close with KfW expected soon
PRODUCING MINES DEVELOPMENT
▪ Panasquiera - Portugal ▪ Valtreixal - Spain
▪ Los Santos - Spain (Care
Production from 2022/2023
and Maintanance)
▪ Sangdong – South Korea12
STRONG PERFORMANCE OF ALMONTY SHARE PRICE
In CAD In Mio.
1,40 3
1,20
1,00
2
0,80
0,60
1
0,40
0,20
0,00 0
Jan. 20 Feb. 20 Mrz. 20 Apr. 20 Mai. 20 Jun. 20 Jul. 20 Aug. 20 Sep. 20 Okt. 20 Nov. 20 Dez. 20 Jan. 21 Feb. 21 Mrz. 21 Apr. 21
Wolfram APT in USD/MTU
280
270
260
250
240
230
220
210
200
Jan. 20 Apr. 20 Jul. 20 Okt. 20 Jan. 21 Apr. 2113
ENERGY MARKETS AND PRICE
DEVELOPMENT14 WTI HAS BROKEN OUT OF THE LONG-TERM DOWNWARD TREND TO THE UPSIDE Quelle: NYMEX
15 EQUITIES- AND BONDPORTFOLIO
16
GOOD PERFORMANCE OF EQUITIES AND BONDS PORTFOLIO AND MUCH
POTENTIAL FOR THE CURRENT YEAR
in 1.000 EUR
Market Value Unrealized
Securities Portfolio Acquisition costs 30.04.2021 Profit
Gold Stocks 10.479 13.326 2.847
Oil & Gas Stocks 9.061 11.122 2.061
Gesamt 19.540 24.448 4.908
Book Value Market Value
Strategic Holdings
30/4/2021 30/4/2021
Almonty Industries 12.131 18.547 (07 May: 18.904)
Northern Oil & Gas 6.773 8.666 (07 May: 10.014)
Total 18.904 27.21317
EXCELLENT PERFORMANCE OF SECURITIES PORTFOLIO
in million EUR
4,9
3,0
8,0
8,5 8,8
3,5
2020 Q1 2021 YTD - 30 April 2021
Realized Profit Unrealized Profit18 INVESTMENT CASE
19 OUR SHARE SHOULD BENEFIT FROM THE CURRENT COMMODITY BOOM ▪ US-Banks expect higher oil prices (Goldman: 77 USD/Barrel WTI until end of October) ▪ Profitability of oil business should continue to increase due to higher prices, but also internal factors (better than expected production, lower hedge ratio, possible write-ups) ▪ Equity portfolio continues to offer high earnings potential ▪ Wyoming acreage could see significant increase in value from drilling ▪ Almonty: Listing ASX, start of construction Sangdong and Moly drilling should trigger further share price gains
20
Deutsche Rohstoff AG
Q7, 24
68161 Mannheim, Germany
+49 621 490 817 0
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