Shamaran Petroleum Ltd. · OSL:SNM
Shamaran Petroleum — Investor Presentation (November 2024)
12 slides from Shamaran Petroleum's investor presentation, Nov 8, 2024
Slide 1: Value Creation through M&A in the Kurdistan Region of Iraq
Value Creation through M&A in the Kurdistan Region of Iraq November 2024 A LUNDIN GROUP COMPANY STOCK: TSX-V: SNM; NASDAQ FIRST NORTH: SNM Photo from Atrush Block of EDC rig drilling CK-7 well on Pad E WEBSITE: www.shamaranpetroleum.com
Slide 2: Corporate Profile
Corporate Profile Asset Footprint » Independent oil and gas company » Non-operator with two producing assets in Kurdistan » Potential for organic growth and additional M&A Corporate Snapshot1 Share Ownership SNM TSX-V / OMX Ticker Retail & 0.08 Share Price (CAD) 2 Institutional Equity Research 73.9%
Slide 3: Two Producing Assets in Kurdistan
Two Producing Assets in Kurdistan Asset Overview Sarsang Block ShaMaran » 43k bopd gross 18% KRG from 11 wells1 20% carried » 37-38º API oil Sarsang » Four processing Block facilities » Export via pipeline HKN and trucking (Operator) 62% Atrush Block ShaMaran » 36k bopd gross KRG 50% from 11 wells1
Slide 4: Local Sales Generate Cash
Local Sales Generate Cash » Kurdistan pipeline flow reversed for sales to local refineries » Sarsang oil transported by trucking or pipeline » Atrush oil transported by pipeline – trucking facilities being installed in Q4 2024 » Prompt payments for oil at significant discount to Brent Slide 4
Slide 5: Atrush Transaction Adds Scale
Atrush Transaction Adds Scale Atrush Stake Sarsang Stake Historic Acquired Current ShaMaran Working Interest 27.6% 22.4% 50.0% 18.0% Overall Net Production (bopd, 9.9k 8.1k 18.0k 7.7k pre-ITP closure)1 25.7k bopd +50% 27.4 22.4 49.8 37.9 Reserves (2P)2 MMstb MMstb MMstb MMstb 87.7 MMstb +30% ShaMara
Slide 6: M&A Track Record for Consolidation
M&A Track Record for Consolidation Reserves and Production (MMBOE) 22.4% Atrush WI Acquisition Net 2P Reserves Net Production 18% Sarsang WI Acquisition 7.5% Atrush WI Acquisition YE 2014 YE 2015 YE 2016 YE 2017 YE 2018 YE 2019 YE 2020 YE 2021 YE 2022 Atrush Transaction Slide 6
Slide 7: Summary
Summary » Low-cost, cash-generative PSC terms Attractive Assets » Potential for organic growth and regional consolidation through M&A » Reduced expenditures in response to pipeline closure Liquidity Focus » Focused on maximizing local sales and cash generation » Working to achieve best commercial Va
Slide 8: Investor Relations
Investor Relations Elvis Pellumbi, CFO Email: info@shamaranpetroleum.com Tel: +41 (0) 22 560 86 00 STOCK: TSX-V: SNM; NASDAQ FIRST NORTH: SNM WEBSITE: www.shamaranpetroleum.com Slide 8
Slide 9: Creating meaningful value
We comprise a global portfolio of companies in the minerals, metals, renewables and energy sectors. Our commodity exposure is diverse, but all Lundin Group companies share a singular purpose: Creating meaningful value
Slide 10: Non-Executive Directors
Non-Executive Directors Chris Bruijnzeels Keith Hill Chairman and Director Director » Over 35 years of experience in the oil and gas industry » Over 35 years of experience in the oil and gas industry, including more than 25 years with the Lundin Group » Chairman of ShaMaran since 2019 and previously
Slide 11: Oil Production in Kurdistan
Oil Production in Kurdistan Reserves and Production (SNM working interest)1 Contract Terms 1P 2P Q4.2023 Q1.2024 Q2.2024 Q3.2024 MMstb MMstb bopd bopd bopd bopd PSCs signed 20-year with KRG in development period Cost oil recovery4 Profit oil4 of Sarsang 20 38 6,552 6,732 5,346 5,845 2007, first post
Slide 12: Cautionary Statements
Cautionary Statements Cautionary Statement Regarding Assumptions Forward-Looking Information Management is regularly considering and evaluating assumptions that will impact on future performance. Examples Certain statements in this presentation are “forward- of such assumptions include, but are not
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