Hartshead Resources

Financials:

Primary ticker: ASX:HHR
Stage of development: Development
Primary minerals: Natural Gas
Project to promote: Phase I  – Anning and Somerville Gas Fields Development
Project location: United Kingdom
Website: hartshead-resources.com.au

ASX-listed Hartshead Resources NL is focussed on building a financially, technically and environmentally responsible European Energy business.  

 

Hartshead’s goal is to secure and invest in projects where resources can be extracted and delivered to meet Europe’s growing energy demand while supporting the transition to a low carbon future. 

 

In progressing this strategy Hartshead is focused on its 100% owned Production Seaward License P2607 comprising of five blocks which contain four existing gas fields in the UK Southern Gas Basin. 

 

Hartshead brings together a highly experienced oil and gas team with specialised knowledge covering subsurface, engineering, commercial, QHSE and capital markets with the required skillsets needed to successfully and safely deliver oil and gas upstream projects.

 

Cash: AUD$11M

Debt: NIL

 

Major shareholders:
Christopher Lewis – 9.4%

Dr Andrew Matharu – 5.7%

Jalbar Pty Ltd – 4.1%

Gulf Natural Resources Pty Ltd – 3.9%

Alitime Nominees Pty Ltd – 3.8%

Management Ownership – 32%

Management Profile

Chris Lewis – CEO 

Chris is a geophysicist with over 28 years’ experience in the oil and gas industry having worked for major E&P companies, junior and small cap companies and service companies. Over the last 17 years Chris has held a variety of executive and senior management positions, has managed oil and gas operations in Europe and Africa and has been instrumental in the start-up and rejuvenation of multiple small companies.

 

Chris has been involved in multiple, small oil and gas ventures including successful exits from:

– Zeta Petroleum: Built a portfolio of assets in Romanian and sold to GMI Limited (CEO: 2005-2009)

– Centric Energy: Awarded license in the Kenya Tertiary Rift Basin, farmed out to Tullow Oil and then sold to Africa Oil (VP Exploration: 2010)

– VP Exploration: Lion Petroleum: The company had two blocks onshore Kenya and was successfully reversed into TSX listed Taipan Resources (VP Exploration: 2011)

– Black Star Petroleum: Awarded exploration licenses offshore Guinea Bissau and Namibia and sold company to Impact Oil and Gas (Co-Founder: 2013-2014).

 

Chris’s technical strengths are in exploration and development subsurface management and delivering effective and valuable sub-surface projects. Commercially Chris has been involved in license applications, negotiations with government bodies, new ventures transactions and capital raising for a variety of organisations.

 

Andy Matharu – CFO 

Andrew has over 27 years’ experience in the oil and gas industry and equity capital markets having commenced his career as a Petroleum Engineer with Chevron and Kerr McGee in the UK North Sea.

 

Following a move into investment banking he focussed on oil & gas equity research and corporate finance within roles at Cazenove, Bridgewell Securities, Numis and Westhouse Securities where he advised a number of AIM listed companies.

 

Andrew has a wide experience of financing private and publicly listed small and mid-cap companies in the oil and gas sector and also served as Vice President of Corporate Development at AIM-listed Tower Resources plc where he was involved in a series of corporate and asset transactions and capital raisings.

 

Andrew holds a BEng(Hons) degree in Chemical Engineering from the University of Sheffield, a PhD in Chemical Engineering from the University of Cambridge and is a Chartered Engineer.

What is your rationale for taking part in 121 Mining Investment?

Looking to broaden shareholder register

What recent news would you like to highlight to investors attending?

25 August 2022 – Completion of Placement to Raise A$11 Million

 

22 August 2022 – Shell Agreement for Phase I Gas Offtake Engineering Study

 

20 July 2022 – NSTA Positively Concludes Evaluation of Phase I Development

 

27 June 2022 – Appointment of Specialist Energy Advisor to secure an industry partner 

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

Secure an industry partner for our Phase I field development 

 

6 Months:

Completion of Phase I FEED stage 

 

12 Months:

Approval of Phase I FID and commencement of project execution 

What do you think makes your company such a compelling investment?

The only ASX listed company with UK Southern Gas Basin exposure 

What are the top 3 key investor takeaways?

1. Exposure to a UK North Sea gas development company with over 300 Bcf of 2P reserves with follow on total portfolio potential of circa 800 bcf of gas.

 

2. An opportunity to invest in Hartshead’s strategy to develop and produce indigenous gas to assist with the UK’s long-term strategic gas requirements amid government focus on strategic energy security and the importance of domestic energy production

 

3. An investment in a highly experienced oil and gas team with specialised UK Southern Gas Basin knowledge covering subsurface, engineering, commercial, QHSE and capital markets with the required skillsets needed to successfully and safely deliver oil and gas upstream projects.