Genel Energy Plc · LSE:GENL
Genel Energy — Pareto Oil & Offshore Conference 2019
14 slides from Genel Energy's conference presentation, Sep 11, 2019
Slide 1: Socially responsible contributor to the global energy mix
. socially responsible contributor to the global energy mix
Slide 2: About Genel Energy
ma ABOUT GENEL ENERGY * Genel aims to be a world-class creator of shareholder value by: - Growing high-margin production through rapid development and a disciplined use of capital - $76 million of free cash flow in H1 2019 - Recycling capital into an expanding asset portfolio with the potential to d
Slide 3: Generating Cash
wm GENERATING CASH * Genel working interest production averaged 37,450 bopd in H1 2019 ¢ Production from the Tawke PSC averaged 126,650 bopd, an increase of 20% year-on-year ¢ Production at Taq Taq averaged 13,150 bopd, increasing year-on-year following successful drilling on the northern flanks of
Slide 4: Investing in Growth
wm INVESTING INGROWTH * Organic growth from existing portfolio provides the NET UNRISKED RESERVES AND opportunity to double production peeoekces - OIL - Appraise/develop model with DNO at Peshkabir ee generated material cash flow even when increasing ducti production 264 - Landmark deal with Chevron
Slide 5: Sarta - Technical Overview
ae SARTA - TECHNICAL OVERVIEW Tm KRI Licenses lm Genel Energy Licenses * Hydrocarbons discovered in all classic KRI reservoir intervals, Tertiary to Triassic — P50 gross unrisked resource estimate of c.500 MMbbIs — Unrisked gross mid case resources relating to the Jurassic Mus-Adaiyah reservoir only
Slide 6: Sarta development timeline
Complete bridging engineering Complete priority civils work Execute LOM contract Initiate facility construction Initiate flowline construction ; Contract workover rig —a [2 S-2 Well Workover x Commission facility \ + {4 CC Lhe — Facility start-up - first oil ‘ oo = 7 & oS — Sarta-3 well
Slide 7: Qara Dagh - Technical Overview
=m QARA DAGH - TECHNICAL OVERVIEW * Qara Dagh prospect first tested by vertical exploration well QD-1 in 2011 - drilled off structure — Reservoir was encountered much deeper than prognosed — Operational issues compromised flow potential — QD-1 well nonetheless tested sweet, light oil from fractured
Slide 8: Qara Dagh development timeline
Ee Select well location [=a i Tender for Civil Contractor Contract rig Environmental permit approval Build pad, camp & water supply ; - | Contract rig services eh ee ee a _ Early Production e i = “Bete
Slide 9: Bina Bawi - Commercial Discussions Progressing
* Active commercial discussions with KRG ongoing - KRG and Company are aligned on Phase 1 plan: - Integrated upstream/midstream development plan - 250-300 MMscfd raw gas processing capacity - Accelerated oil development, with a portion of revenues supporting financing of gas development * Project un
Slide 10: African Exploration
me AFRICAN EXPLORATION * Somaliland - seismic interpretation of new 2018 vintage 2D seismic data now | completed, current focus on eastern Blocks | SL10B13 - Confirms the longstanding view that the block has significant hydrocarbon potential — Further strengthens the comparison with prolific Yemeni
Slide 11: Returning Capital to Shareholders
aa RETURNING CAPITAL TO SHAREHOLDERS * While investing in these opportunities, Genel will USE OF H1 2019 PROCEEDS generate sufficient cash to pay a material and ($ MILLION) progressive dividend 200 * FY2019 growth capital allocation decisions 180 - H ion in 202 Sarta: to add to production in 2020 eo
Slide 12: Focused Portfolio Additions
ma FOCUSED PORTFOLIO ADDITIONS * Cash-generation drives our strategy ¢ New business activity aims to ensure cash flow generation grows over long-term * Sarta and Qara Dagh the first step — Sarta alone has the potential to replace all maturing production and cash flow * Focus is on discovered resourc
Slide 13: Outlook and Growth Catalysts
=z OUTLOOK AND GROWTH CATALYSTS ¢ Material cash generation ongoing, even as expenditure increases on growth assets * Sarta production underway in middle of 2020 * Qara Dagh well set to spud in H1 2020 ¢ Potential agreement on Bina Bawi unlocks material value ¢ Farm-out process on Somaliland to begin
Slide 14: For further information please contact investor relations
Forfurther information please contact investor relations ~ Andrew Benbow, Head of Communications andrew.benbow@genelenergy.com