Talon Petroleum

Website: www.talonpetroleum.com.au
Primary ticker: ASX:TPD
Stage of development: Exploration
Project Type: Oil – conventional offshore, Gas – conventional offshore
Project to promote: Exploration Portfolio

Live financials

Talon is a UK North Sea exploration company listed on the ASX. The Company’s team is comprised of core members of both EnCore Oil plc and Nautical Petroleum plc. Both companies were highly successful UK North Sea explorers listed on AIM. The company presently holds 5 exploration and appraisal assets and is working towards farmout and drilling of 3 of these in 2020.

Management Profile

Matt Worner –  ManagingDirector

Matt Worner is an experienced oil and gas executive who has worked with ASX and London listed E&P companies in various legal, commercial and new ventures/business development roles. He has overseen the completion of multiple asset acquisitions and divestments the world over, including Asia, Africa, US and Australasia as well as significant experience dealing with joint venture partners, host governments and NOCs in these regions.

Matt has strong capital markets experience in Australia and London including ASX and AIM IPO’s and capital raising activity. Through this work, Matt maintains solid contacts and relationships with brokers, funds and NOMADs in both Australia and the UK.

What is your rationale for attending 121 Oil & Gas Investment?

As a fairly new company, we are looking to raise awareness of our business and forward plan. We would be interested in talking to investors for on-market support and whom would be looking to the long term to support our efforts as we continue to grow

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

Over the course of 2019, Talon has built a compelling portfolio of exploration and appraisal assets located in the UK North Sea. Just as importantly, Talon has established a team of UK North Sea experts with an outstanding record of success in the region having been core management/board team members of both EnCore Oil plc and Nautical Petroleum plc.
The Company is now working on identifying industry partners for two of its exploration projects via a farmout process and is hopeful of drilling up to three wells in 2020

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Achieving a successful outcome for either one or both of Talon’s two current exploration farmout opportunities

6 Months:

The addition of further assets via UK Government bid round process and other means of acquisition

12 Months:

Drilling at least one, and possibly three, exploration wells at Rocket, Skymoos and an appraisal well at Curlew-A

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Oil price uncertainty is making investment (both investor and industry) somewhat tougher in recent times. As a small company with a project generation mindset this has potential to make funding more of a challenge.

Talon believe’s it is well placed to overcoming this challenge in two main ways.

The first is by building a team, which has had an enormous amount of exploration success in the UKNS, having been responsible for some of the most important hydrocarbon discoveries in the region over the last 20 years as well as delivering significant shareholder value in that time.

Secondly, by operating in a region like the UKNS, Talon has the ability to take advantage of free existing technical data bases; a pro-active government actively seeking exploration dollars; and acquiring projects close to existing infrastructure

In a sentence, what do you think makes your company such a compelling investment?

Fundamentally, it is our team. This gives us a major competitive advantage for a company of Talon’s size and in its early stage of development. We also believe that the company’s entry to the UKNS is very well timed. The government is pro-actively seeking exploration investment to reinvigorate the region which has allowed Talon to build a quality portfolio quickly and in a very short period of time.