Gulf Keystone Petroleum Limited · LSE:GKP
Gulf Keystone Petroleum — Pareto Securities 16th E&P Independents Conference 2021
14 slides from Gulf Keystone Petroleum's conference presentation, Mar 25, 2021
Slide 1: Pareto Securities 16th E&P Independents Conference
GULF KEYSMONE PETROLEUM SS a Pareto Securities 16% E&P Independents Conference 25 March 2021
Slide 2: Disclaimer
Disclaimer This proprietary presentation (the “Presentation’) has been prepared by Gulf Keystone Petroleum Limited (the “Company’). Under no circumstances may this presentation be deemed to be an offer to sell, a solicitation to buy or a solicitation of an offer to buy securities of any kind in any
Slide 3: Well positioned to deliver long-term growth
Well positioned to deliver long-term growth Actively managing impact of COVID-19 and protecting staff = GKP operator (80% WI) of Shaikan Field in Kurdistan Days . . . . LTI-Free « Shaikan operations continue safely and reliably * 2021 guidance: 40,000 - 44,000 bopd gross Vives Gross 2P . Reserves")
Slide 4: GKP - Operator of the Shaikan Field
GKP - Operator of the Shaikan Field A giant field with proven production track record Field overview Key information (gross figures) * Shaikan is one of the largest fields in Kurdistan Region of Iraq by reserves and production = Located c.60km north-west of Erbil in the north-west Zagros Fold-belt *
Slide 5: Shaikan Field map
Shaikan Field map Wells, facilities & flowlines Key Planned wells @ Completed wells (2 Facilities (5) Pipe Yard SH-13 flowline Shaikan flowlines Kurdistan oil pipeline —— Export pipeline River network Block licences = 55,000 bopd expansion has now resumed " Drilling operations at SH-13 expected to r
Slide 6: Best practice safety and sustainability
Best practice safety and sustainability Doing the right thing, acting responsibly Environment Sustainability / Societal Governance = Target to more than halve Scopes 1 and 2 CO, emissions per barrel from operations with implementation of Shaikan Field Development Plan = Effective waste management an
Slide 7: Continued strong production operations
Continued strong production operations Highest average monthly production achieved to date from Shaikan « Steady and reliable production - new production record earlier this year = In Q4 2020, GKP successfully implemented programme with short-term production growth opportunities " SH-12 recompletion
Slide 8: Updated reserves and resources
Updated reserves and resources 2020 CPR reaffirms significant potential of Shaikan Field . 1 Gross Shaikan Reserves & Resources"” (31-Dec-2020) " Gross 2P+2C reserves and resources of 1000 c.800 MMstb, of which over 500 Total 2P + 2C: MMstb of gross 2P reserves 798 MMstb 800 = Gross 1P reserves 240
Slide 9: Vision to develop Shaikan
Vision to develop Shaikan Phased approach provides flexibility to time capital investment Triassic expansion & Cretaceous pilot Triassic pilot Jurassic expansion & gas management To 85,000 To 75,000 Jurassic expansion Gross Production Capacity (bopd) 50,000 Toda a | Phases not yet sanctioned; ; y _
Slide 10: Crude oil payments
Crude oil payments Consistent oil sales receipts over last year * In March 2021, GKP received the first repayment for the outstanding Nov-19 to Feb-20 oil invoices - an important milestone towards the recovery of US$73 million (net) $25 $20 $3m ey 2 = $15 £ UF 3 $10 | 19m $17m $14m $14m Sa $10m ‘Nit
Slide 11: Outlook
Outlook Realise long-term Shaikan potential with shareholder distributions © Sustainable approach Safety, environmental and social principles embedded in GKP’s ethos Target to halve CO2 emissions Deliver 2021 guidance Gross production: 40,000 - 44,000 bopd Net Capex: US$55-65 million Opex: US$2.5 -
Slide 12: Thank you
12 Thank you More resources are available at: www.gulfkeystone.com Lc \ k [P|
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Slide 14: Key historical financials
Key historical financials H1 2020 H1 2019 FY 2019 FY 2018 FY 2017 Gross production (bopd) 37,159 29,362 ; 32,883 31,563 35,298 Brent") (USS/bbI) 40.2 66.1 | 64.3 713 54.1 Discount (US$/bbI!) 21.1 21.7 | 21.7 22.3 20.3 Realised price (USS/bbl) 19.1 44.8 : 42.9 49.0 34.6 Revenue (USSm) 49.9 95.6 : 206
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