Etablissements Maurel & Prom Sa · EURONEXT:MAU

Etablissements Maurel & Prom Sa — Maurel & Prom — Shareholder Meeting (February 2009)

29 slides from Etablissements Maurel & Prom Sa's shareholder meeting presentation, Feb 24, 2009

  1. Slide 1: Combined General Meeting of the Shareholders

    Combined General Meeting of the Shareholders (GMS) Paris, February 24, 2009 MAURELY PROM

  2. Slide 2: Imagine, research, discover

    Imagine, research, discover CONTENTS The business and expertise of Maurel & Prom : • Imagine • Research ‐ Objec,ve Review 2 • Discover ‐ Stock 3 • Commission Exper=se ‐ Reserves 4 ‐ Explora=on 5 ‐ Produc=on 16 Means used: ‐ Financial data 26 • Expanded, known and accessible mining area ‐ Conclusion

  3. Slide 3: Stock price and oil price

    Stock price and oil price $/b € €/b 19 140 CONTENTS ‐ Objec=ve Review 2 120 17 ‐ Stock 3 ‐ Reserves 4 ‐ Explora=on 5 100 15 ‐ Produc=on 16 ‐ Financial data 26 80 ‐ Conclusion 29 13 60 11 40 9 20 7 0 JAN FEV MAR AVR MAI JUIN JUIL AOU SEPT OCT NOV DEC JAN FEV MAR AVR MAI JUIN JUIL AOU SEPT OCT NOV DEC

  4. Slide 4: P1+P2 reserves, excluding royalties

    P1+P2 reserves, excluding royalties CONTENTS 5% ‐ Objec=ve Review 2 ‐ Stock 3 ‐ Reserves 4 7% 209.6 ‐ Explora=on 5 52% 6% 9% 10% 43% Mboe ‐ Produc=on 16 41% 39% 125.6 ‐ Financial data 26 109.5 Mboe Mboe ‐ Conclusion 29 46% 42% 01/01/2007 01/01/2008 01/01/2009 2007: 2008: 12 explora=on – 25 explora=o

  5. Slide 5: Exploration-Delineation

    Exploration-Delineation In million barrels CONTENTS 250,0 ‐ Objec=ve Review 2 ‐ Stock 3 200,0 ‐ Reserves 4 ‐ Explora,on 5 Sale of Congolese assets ‐ Produc=on 16 111,6 ‐ Financial data 26 150,0 ‐ Conclusion 29 235,2 235,2 100,0 (11,5) 209,6 109,5 50,0 0,0 31/12/2006 01/01/2007 Produc=on Discoveries

  6. Slide 6: Tanzania: overview of Mafia

    Tanzania: overview of Mafia CONTENTS ‐ Objec=ve Review 2 ‐ Stock 3 ‐ Reserves 4 ‐ Explora,on 5 ‐ Produc=on 16 ‐ Financial data 26 ‐ Conclusion 29 GMS – Maurel & Prom 6/29 Paris, February 24, 2009

  7. Slide 7: Tanzania: seismic cross-section of the prospect

    Tanzania: seismic cross-section of the prospect MAFIA‐1(shell) MAFIA‐D‐1 Songo‐Songo 1 SW SONGO‐SONGO‐1 NE Final depth of Shell Songo Songo reservoir objec,ve Current depth of MAF D‐1: 4,150m GMS – Maurel & Prom 7/29 Paris, February 24, 2009

  8. Slide 8: Tanzania: aerial map of the prospect

    Tanzania: aerial map of the prospect CONTENTS Closed surface at 4,400 m: 167 km² ‐ Objec=ve Review 2 P50 Target (gas) : 3.1 Tcf (550 Mboe) ‐ Stock 3 ‐ Reserves 4 ‐ Explora,on 5 ‐ Produc=on 16 ‐ Financial data 26 ‐ Conclusion 29 DEEP‐1 GMS – Maurel & Prom 8/29 Paris, February 24, 2009

  9. Slide 9: Tanzania: progress of the Mafia Deep drilling

    Tanzania: progress of the Mafia Deep 1 drilling 0 CONTENTS Depth 500 ‐ Objec=ve Review 2 ‐ Stock 3 1000 ‐ Reserves 4 ‐ Explora,on 5 ‐ Produc=on 16 1500 ‐ Financial data 26 ‐ Conclusion 29 2000 2500 3000 3500 4000 4500 5000 Days from spud 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 1

  10. Slide 10: Gabon: the Onal region

    Gabon: the Onal region Expansion limit of the OMAL‐1 Kissenda « theme » OMBG‐1 EZA‐1 OMKO‐101 NZAMO‐1&2 OMOE‐1 OMKO 104D ONAL fields OMOC‐1 GMS – Maurel & Prom Paris, February 24, 2009

  11. Slide 11: Gabon: seismic cross-section of the Omoueyi permit

    Gabon: seismic cross-section of the Omoueyi permit ONAL Fields OMOE‐1 OMBG‐1 OMKO Block GMS – Maurel & Prom 11/29 Paris, February 24, 2009

  12. Slide 12: Gabon: identification of new prospects

    Gabon: identification of new prospects MOUTETI Prospect OUSSOUNENE‐W Prospect ONAL Field GMS – Maurel & Prom 12/29 Paris, February 24, 2009

  13. Slide 13: Gabon: seismic cross-section of new prospects

    Gabon: seismic cross-section of new prospects S N Prospect OUSSOUNENE‐W d’OUSSOUNENE‐W Prospect Prospect MOUTETI deProspect MOUTETI GMS – Maurel & Prom 13/29 Paris, February 24, 2009

  14. Slide 14: Colombia: high potential

    Colombia: high potential SAMAN (2402 km²) CONTENTS 3D seismic cross‐sec,on finished, under processing P50 Target of 5 leads : 137 Mboe net ‐ Objec=ve Review 2 Explora,on drilling: end 2009/start 2010 ‐ Stock 3 ‐ Reserves 4 ‐ Explora,on 5 ‐ Produc=on 16 ‐ Financial data 26 ‐ Conclusion 29 TANGARA (130

  15. Slide 15: Peru: 1st drilling in 2010

    Peru: 1st drilling in 2010 CONTENTS Block 116 ( 8,534 km² ) Many prospects and leads iden,fied ‐ Objec=ve Review 2 ‐ Stock 3 P50 Target of prospects and leads: 190 MMboe net Median target of prospects and leads : 700 MMboe net ‐ Reserves 4 Explora,on drilling: 2010 / 2011 ‐ Explora,on 5 ‐ Produc=on 1

  16. Slide 16: Group production and projections

    Group production and projections in boepd in boepd Produc,on Entitled nege Groupe production CONTENTS 60000 60 000 ‐ Objec=ve Review 2 ‐ Stock 3 50000 47 92747 347 50 000 46 980 46 742 ‐ Reserves 4 43 89143 508 ‐ Explora=on 5 ‐ Produc,on 16 40000 37 871 40 000 ‐ Financial data 26 ‐ Conclusion 29 33

  17. Slide 17: Colombia: increased power of Ocelote

    Colombia: increased power of Ocelote in b/d Produc,onnet Colombia nege Colombie production in b/d CONTENTS 30 000 30 000 ‐ Objec=ve Review 2 25 641 25 258 24 730 ‐ Stock 3 25 000 24 177 25 000 23 597 22 992 ‐ Reserves 4 21 890 ‐ Explora=on 5 21 17421 386 21 299 Renego=a=on of EGOC agreements 20 501

  18. Slide 18: Gabon: simultaneous commissioning (Onal + Omko)

    Gabon: simultaneous commissioning (Onal + Omko) in b/d in b/d Produc,on nege Gabon Gabon net production CONTENTS 25 000 25 000 ‐ Objec=ve Review 2 22 050 22 050 22 050 ‐ Stock 3 20 550 ‐ Reserves 4 20 000 20 000 ‐ Explora=on 5 ‐ Produc,on 16 16 550 16 550 ‐ Financial data 26 14 872 ‐ Conclusion 29 1

  19. Slide 19: Gabon: facilities map

    Gabon: facilities map The Onal Project – Sites Concerned 2 6” ducts (7 km) CONTENTS Onal Production Center Omko Field ‐ Objec=ve Review 2 ‐ Stock 3 12” oil pipeline Onal Field ‐ Reserves 4 6” gas pipeline ‐ Explora=on 5 and fiber optic ‐ Produc,on 16 (123 km) ‐ Financial data 26 ‐ Conclusion 29 4” G

  20. Slide 20: Gabon: the Obangué crossing

    Gabon: the Obangué crossing CONTENTS ‐ Objec=ve Review 2 ‐ Stock 3 ‐ Reserves 4 ‐ Explora=on 5 ‐ Produc,on 16 ‐ Financial data 26 ‐ Conclusion 29 GMS – Maurel & Prom 20/29 Paris, February 24, 2009

  21. Slide 21: Gabon: the production center

    Gabon: the production center CONTENTS ‐ Objec=ve Review 2 ‐ Stock 3 The Onal Prod u ction Center ‐ Reserves 4 ‐ Explora=on 5 ‐ Produc,on 16 ‐ Financial data 26 ‐ Conclusion 29 19 production facilities (17 drilled) 16 injectors (7 drilled) GMS – Maurel & Prom 21/29 Paris, February 24, 2009

  22. Slide 22: Gabon: the production center

    Gabon: the production center June 2008 CONTENTS ‐ Objec=ve Review 2 ‐ Stock 3 ‐ Reserves 4 ‐ Explora=on 5 ‐ Produc,on 16 ‐ Financial data 26 ‐ Conclusion 29 December 2008 GMS – Maurel & Prom 22/29 Paris, February 24, 2009

  23. Slide 23: Gabon: Facilities under production

    Gabon: Facilities under production • 13 months of actual work (Jan. 2008 – Feb. 2009) CONTENTS • 1,500,000 hrs of work (*) ‐ Objec=ve Review 2 ‐ Stock 3 • Delays / October 2008 resulting from: ‐ Reserves 4 – Civil engineering (weather conditions); ‐ Explora=on 5 – Certain equipment coming out of the

  24. Slide 24: Gabon: Start of oil production

    Gabon: Start of oil production ONAL FIELD Omko 1 – Production Center link CONTENTS ‐ Objec=ve Review 2 (2) Onal ‐ Stock 3 Produc=on Center (1) Omko‐101 ‐ Reserves 4 Feb. 23, 2009 Feb. 23/24, 2009 ‐ Explora=on 5 ‐ Produc,on 16 ‐ Financial data 26 ‐ Conclusion 29 (3) Filling the Export Pipe (4) Openin

  25. Slide 25: Gabon: 23th february 2009

    Gabon : 23th february 2009 CONTENTS ‐ Objec=ve Review 2 ‐ Stock 3 ‐ Reserves 4 ‐ Explora=on 5 ‐ Produc,on 16 ‐ Financial data 26 ‐ Conclusion 29 GMS – Maurel & Prom 25/29 Paris, February 24, 2009

  26. Slide 26: Appendices: financial factors

    Appendices: financial factors CONTENTS 2008 2007 ‐ Objec=ve Review 2 Revenues 385 290 ‐ Stock 3 ‐ Reserves 4 Oil and gas produc7on 300 210 ‐ Explora=on 5 Oil and gas services 85 76 ‐ Produc=on 16 Other 0 4 ‐ Financial data 26 ‐ Conclusion 29 Investments 538 357 Development 304 174 Oil and gas servic

  27. Slide 27: Group hedges at 02/01/2009

    Group hedges at 02/01/2009 CONTENTS ‐ Objec=ve Review 2 2009 2010 2011 ‐ Stock 3 ‐ Reserves 4 ‐ Explora=on 5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ‐ Produc=on 16 ‐ Financial data 26 ‐ Conclusion 29 Quantity b/d 8 000 10 000 10 000 10 000 8 750 8 750 8 000 8 000 2 500 2 500 2 500 2 500 Of which barrels

  28. Slide 28: Appropriation of Eni sale proceeds

    Appropriation of Eni sale proceeds M€ CONTENTS 1200 1000 ‐ Objec=ve Review 2 ‐ Stock 3 800 ‐ Reserves 4 600 1140 ‐ Explora=on 5 ‐ Produc=on 16 400 ‐ Financial data 26 200 ‐ Conclusion 29 0 40 ‐36 ‐80 ‐56 ‐44 ‐32 ‐127 ‐174 ‐28 ‐144 ‐200 ‐137 2008 ‐206 ‐303 ‐581 2007 ‐400 ‐600 ‐800 ‐706 ‐1000 ‐1200 ‐1

  29. Slide 29: Conclusion

    Conclusion CONTENTS Key elements of the strategy: ‐ Objec=ve Review 2  More than 70,000 km² of mining area ‐ Stock 3 ‐ Reserves 4  Available drilling equipment ‐ Explora=on 5  High-potential prospects ‐ Produc=on 16 ‐ Financial data 26 ‐ Conclusion 29  Fast commissioning of wells, if successful

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