Shamaran Petroleum Ltd. · OSL:SNM
Shamaran Petroleum — Investor Presentation (September 2024)
11 slides from Shamaran Petroleum's investor presentation, September 2024
Slide 1: Value Creation through M&A in the Kurdistan Region of Iraq
Value Creation through M&A in the Kurdistan Region of Iraq September 2024 A LUNDIN GROUP COMPANY STOCK: TSX-V: SNM; NASDAQ FIRST NORTH: SNM Photo from Atrush Block of EDC rig drilling CK-7 well on Pad E WEBSITE: www.shamaranpetroleum.com
Slide 2: Corporate Profile
Corporate Profile Asset Footprint » Independent oil and gas company » Non-operator with two producing assets in Kurdistan » Potential for organic growth and additional M&A Corporate Snapshot1 Share Ownership SNM TSX-V / OMX Ticker Retail & 0.08 Share Price (CAD) 2 Institutional Equity Research 73.9%
Slide 3: Two Producing Assets in Kurdistan
Two Producing Assets in Kurdistan Asset Overview Atrush Block Sarsang Block » 36k bopd gross from 11 wells1 » 43k bopd gross from 11 wells1 » 25-26º API oil » 37-38º API oil » Two processing facilities » Four processing facilities » Export via pipeline » Export via pipeline and trucking ShaMaran Sha
Slide 4: Local Sales Generate Cash
Local Sales Generate Cash » Kurdistan pipeline flow reversed for sales to local refineries » Atrush oil transported by pipeline – trucking facilities being installed » Sarsang oil transported by trucking or pipeline » Prompt payments for oil at significant discount to Brent Slide 4
Slide 5: Atrush Transaction Adds Scale
Atrush Transaction Adds Scale Atrush Stake Sarsang Stake Historic Acquired Current ShaMaran Overall Working Interest 27.6% 22.4% 50.0% 18.0% Net Production (bopd, pre-ITP 9.9k 8.1k 18.0k 7.7k 25.7k +50% closure)1 27.4 22.4 49.8 37.9 87.7 Reserves (2P)2 +30% MMstb MMstb MMstb MMstb MMstb KRG ShaMaran
Slide 6: M&A Track Record for Consolidation
M&A Track Record for Consolidation Reserves and Production (MMBOE) Net 2P Reserves Net Production 22.4% Atrush WI Acquisition 18% Sarsang WI Acquisition 7.5% Atrush WI Acquisition YE 2014 YE 2015 YE 2016 YE 2017 YE 2018 YE 2019 YE 2020 YE 2021 YE 2022 Atrush Transaction Slide 6
Slide 7: Summary
Summary » Low-cost, cash-generative PSC terms Attractive Assets » Potential for organic growth and regional consolidation through M&A » Reduced expenditures in response to pipeline closure Liquidity Focus » Focused on maximizing local sales and cash generation » Working to achieve best commercial Va
Slide 8: Investor Relations
Investor Relations Elvis Pellumbi, CFO Email: info@shamaranpetroleum.com Tel: +41 (0) 22 560 86 00 STOCK: TSX-V: SNM; NASDAQ FIRST NORTH: SNM WEBSITE: www.shamaranpetroleum.com Slide 8
Slide 9: Political Landscape
Political Landscape Iraq Federal Turkey closes HKN starts local » APIKUR states that Supreme Court Iraq-Turkey sales from Turkey notifies efforts to reopen rules 2007 KRI Pipeline (ITP) Sarsang to Lanaz Iraq that pipeline Tripartite Tripartite ITP need to Oil & Gas law due to ICC refinery via is rea
Slide 10: Oil Production in Kurdistan
Oil Production in Kurdistan Reserves and Production (SNM working interest)1 Contract Terms 1P 2P Q3.2023 Q4.2023 Q1.2024 Q2.2024 MMstb MMstb bopd bopd bopd bopd PSCs signed 20-year with KRG in development period Cost oil recovery4 Profit oil4 of Atrush 29 50 0 2,486 5,520 6,928 2007, first post-prod
Slide 11: Cautionary Statements
Cautionary Statements Cautionary Statement Regarding Assumptions Forward-Looking Information Management is regularly considering and evaluating assumptions that will impact on future performance. Certain statements in this presentation are “forward- Examples of such assumptions include, but are not
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