Horizon Petroleum Ltd. · TSXV:HPL
Horizon Petroleum — Investor Presentation (April 2016)
15 slides from Horizon Petroleum's investor presentation, April 2016
Slide 1: Creating a New Growth Company Focused on Conventional Oil & Gas
Creating a New Growth Company Focused on Conventional Oil & Gas Production and Development in the Black Sea Region Confidential April 2016 1
Slide 2: Disclaimer
Disclaimer This Presenta,on contains certain statements that may be deemed "forward-‐looking statements". All statements in this presenta,on, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Such stateme
Slide 3: Introduction
Introduc1on • Horizon was formed by an experienced oil and gas team to pursue oil & gas appraisal and development assets • Our focus is to establish a near term operated production platform as a foundation for corporate growth • We have entered into an Arrangement Agreement to acquire through a Plan
Slide 4: New, Combined Board & Management
New, Combined Board & Management MICHAEL HIBBERD, Non-‐Execu*ve Chairman, and Dr. DAVID A. WINTER, Director, President & CEO Director • Founder and Director of privately-‐held Miramar • Former investment banker with Sco,aMcLeod Hydrocarbons, focused on Argen,na • Chairman of Canacol Energy and Vic
Slide 5: Iskander Opportunity
Iskander Opportunity • Iskander Energy is a private company with assets in Bulgaria and Georgia • Acquisi,on by Plan of Arrangement whereby Horizon will acquire all of the issued and outstanding shares of Iskander by issuing 55,373,072 shares. • Value: C$ 2,768,654, versus over C$60 million invested
Slide 6: Bulgaria Gas Development Opportunity
Bulgaria Gas Development Opportunity • Iskander: 50% working interest • Opportunity to increase to 100% • 1,900 km2 area located in north central Bulgaria. • 236 2D seismic lines (totaling 2,857 KM) and 66 wells gas and oil fields immediately to northwest of block • Multiple wells drilled in the 197
Slide 7: Georgia: Development & Acquisition Opportunities
Georgia: Development & Acquisi1on Opportuni1es Satskhenisi Permit: • Working Interest: 90% and Operator • Current production 20 bopd, light oil (400 API), reservoir pressure is still close to virgin pressure • Oil transported via truck to nearby sales point and sold at Brent price less $12 discount
Slide 8: Georgia: Acquisition Opportunity
Georgia: Acquisi1on Opportunity • Current owner is a major steel and power company currently undergoing a re-structuring. New corporate strategy requires exit from oil & gas business generally and in Georgia particularly • Permit XIB: one of the best PSC’s in Georgia contains 5 producing oil fields
Slide 9: Cameroon Opportunity
Cameroon Opportunity • We have signed a Letter of Intent with a large independent oil and gas company to acquire a 50% working interest (37.5% after Government back-in), in an oil appraisal and development project in Cameroon: • P50 discovered resources of ca.35 MMbbls with low risk potential to add
Slide 10: Forward Strategy
Forward Strategy Bulgaria • Renegotiate work program with conventional gas appraisal and development with focus on shallower Cretaceous aged naturally fractured reservoirs • Evaluate opportunity to employ horizontal wells with open hole completions to effectively develop the naturally fractured rese
Slide 11: Corporate Information
Corporate Informa1on Contact Details: Dr. David A. Winter, President & CEO david.winter@horizon-‐petroleum.com +1 (403) 619-‐2957 David Robinson, Vice President Business Development david.robinson@horizon-‐petroleum.com +1 (403) 399-‐9047 Office: Suite 490, 700 4th Ave. S.W. Calgary, AB, T2P 3J4 C
Slide 12: Additional Information
Additional Information Horizon
Slide 13: Bulgaria: Attractive Concession Fiscal terms
Bulgaria: ATrac1ve Concession Fiscal terms § Flat corporate income tax at 10%; § Flat dividend tax at 5%; § Favorable concession-type agreement with government for exploration and production rights § Government royalty based on R-factor, starting as low as 2.5%: § 2% overriding royalty to third
Slide 14: Georgia: Satskhenisi PSC Fiscal terms
Georgia: Satskhenisi PSC Fiscal terms • Favorable existing PSA terms. Government take includes payment of tax and royalty • Current capital cost pool = ~$11M • PSA granted in 2000 for 25 years with additional 5 year extension • Operations currently conducted jointly with our partner but Iskander con
Slide 15: Georgia: Further Opportunity PSC Fiscal terms
Georgia: Further Opportunity PSC Fiscal terms
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