Shamaran Petroleum Ltd. · OSL:SNM
Shamaran Petroleum — Investor Presentation (September 2021)
23 slides from Shamaran Petroleum's investor presentation, Sep 2, 2021
Slide 1: Virtual Town Hall Presentation – September 2, 2021
Virtual Town Hall Presentation – September 2, 2021 www.shamaranpetroleum.com SHAMARAN petroleum corp
Slide 2: Q2.2021 Highlights
Q2.2021 Highlights TSX.V: SNM; Nasdaq First North Growth Market: SNM 18% Acquisition of TotalEnergies 18% working interest in Sarsang 39.5Mbp Q1 38.2Mbopd to Q2 39.5Mbopd return to qtr. on qtr. growth $25.2MM 340% increase in Atrush revenues Q2.2021 vs. Q2.2020 $4.49/bbl 16% decrease in lifting cost
Slide 3: Shamaran in Kurdistan
Shamaran in Kurdistan ShaMaran is an E&P company active in Kurdistan region Atrush Location Kurdistan’s oil industry now well established • Significant reserves and resources • Largely stable political situation • Export route to Mediterranean via Turkish port of Ceyhan ShaMaran has 27.6% interest i
Slide 4: Sarsang Acquisition
Sarsang Acquisition SHAMARAN petroleum corp
Slide 5: Accretive acquisition of TotalEnergies' share in Sarsang
Accretive acquisition of TotalEnergies’ share in Sarsang Acquisition of TEPKRI Sarsang A/S Acquisition Consideration • Subsidiary of TotalEnergies SE (“Total”) US$ MM • 18% working interest and 22.5% paying interest in Sarsang block Cash consideration 135 • Accretive transaction at $155MM Deferred c
Slide 6: Sarsang Acquisition: Transformational for SNM
Sarsang Acquisition: Transformational for SNM • Located directly north of Atrush block • Diversifies ShaMaran’s production base • from one field in Atrush • to three world-class oil producing fields • Complimentary production profile • increases net production significantly and ShaMaran’s revenue pr
Slide 7: Sarsang path to 50Mbopd & beyond
Sarsang path to 50Mbopd & beyond 2026+ 2022-2025 Deliver Full Asset Value 2021-2022 Develop East Swara Tika Maintain Plateau Maintain Swara Tika production Evaluate additional prospective plateau by keeping all 3 facilities Triassic areas on block full Assess Jurassic and Cretaceous Build Capacity I
Slide 8: Atrush Update
Atrush Update SHAMARAN petroleum corp
Slide 9: HSE – Returning to normal Atrush 2021 Operations
HSE – Returning to normal Atrush 2021 Operations Careful preparation, deployment and management of increased operations levels with integrated COVID protocols: • Support facilities (accommodation, medical) adapted to COVID environment • Facility and infrastructure projects • Drilling & Completion pr
Slide 10: Atrush - Delivering Production Targets
Atrush - Delivering Production Targets * Q3.2021 average as of August 30, 2021 [9]
Slide 11: Atrush - Delivering on Planning
Atrush - Delivering on Planning 2022+ 2021 2019-2020 Deliver Full Asset Value Position to Implement “integrated oil Deliver Value column development plan” Return to normal operations Drill and complete all Debottleneck & following COVID impact development production Mature Resource wells Continue to
Slide 12: S HA M ARAN
Corporate Update SHAMARAN petroleum corp
Slide 13: 2021 Guidance
2021 Guidance • Atrush field gross average daily production back to quarter on quarter growth: • Q1.2021 – 38.2 Mbopd • Q2.2021 – 39.5 Mbopd • Annual Atrush production average expected to range from 39 Mbopd to 44 Mbopd • Atrush capital expenditures for 2021 at US$ 53.2MM (55% increase from 2020) •
Slide 14: KRG Repayments
KRG Repayments • Resumption of timely payments from KRG since March 2020 • KRG proposed new payment mechanisms: • extends oil sales invoice payment to 60 business days from receipt of invoice • arrears repayments delayed through reduced allocation of revenues >$50 per bbl • US$ 9.6MM repayment of 20
Slide 15: ShaMaran Bond Update
ShaMaran Bond Update 2021 Bond amortization requirement reduced by two thirds: • From US$ 15MM to US$ 5MM • Continued acquiring existing bonds at attractive commercial rates in Q 2 2021 Successfully placed new US$ 300MM Bond: • Four-year term with maturity in 2025 • Existing 2023 bond to be converte
Slide 16: ShaMaran Rights Offering
ShaMaran Rights Offering Plan to launch US$ 30MM Rights Offering to all shareholders •To launch in eligible jurisdictions following receipt of all necessary governmental and regulatory approvals for Sarsang acquisition and offering itself •To be conducted pursuant to a prospectus in Sweden and an of
Slide 17: ESG
ESG www.shamaranpetroleum.com/company/esg/ Environmental Focus • Gas Solution project now underway to eliminate flaring and emissions via gas sweetening, including diesel displacement using turbines for power generation • Emissions reduction through application of renewable technology • Disposal of
Slide 18: Outlook
Outlook Achieve closing of value accretive and transformative acquisition of TotalEnergies’ interest in Sarsang Focus on Optimization of Operations • Resumption of suspended capital programs to continue Atrush’s quarter on quarter production growth • Progress Atrush cost savings Focus on Financial R
Slide 19: Cautionary Statements
Cautionary Statements This presentation contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as legal and political risk, civil unrest, general economic, market
Slide 20: Appendix
Appendix SHAMARAN petroleum corp
Slide 21: Management and Board of Directors
Management and Board of Directors Chris Bruijnzeels – Chairman and Director William A.W. Lundin – Director Over 35 years of experience in the oil and gas industry Mr. Lundin is the Chief Operating Officer of including Senior Vice President Development of International Petroleum Corp. (“IPC”), an Lun
Slide 22: ShaMaran, a Lundin Group company
ShaMaran, a Lundin Group company USD 21.8 billion - combined market cap of Lundin Group [ 21 ]
Slide 23: Corporate Profile
Corporate Profile Major shareholders Share Capital @ September 1, 2021 • Lundin family trusts 25% • Shares issued and outstanding 2,206,229,663 • Directors/Management 0.5% • Net Debt* US$ 102MM Trading Information • Market Capitalization: CAD 128MM • TSX Venture TSX-V: SNM • NASDAQ First North Growt
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