Petro-victory Energy Corp Class A · TSXV:VRY
Petro-victory Energy Corp Class A — Investor Presentation (January 2024)
34 slides from Petro-victory Energy Corp Class A's investor presentation, Jan 9, 2024
Slide 1: Investor Presentation
Investor Presentation January 9, 2024
Slide 2: Leadership Group
Board and management team with over 400 years of experience Leadership Group Richard F. Gonzalez Andre Naslausky Daniel R. Wray Jose Andrade Gervasio Barzola Chairman / CEO Chief Operating Officer Chief Financial Officer Brazil Finance Manager Geological & Geophysical 33 years of experience 20 years
Slide 3: Strategy Execution
Strategy Execution Acquisition • 4 producing fields and 34 blocks in the most oil prolific onshore basin in Brazil • Experienced board and management team Expert Team Members • Experienced and qualified subsurface experts • 3D Seismic Reprocessing 3D Seismic Reprocessing • 12 volumes of diferent 3D
Slide 4: Portfolio
Portfolio
Slide 5: Potiguar basin
Potiguar basin Basin summary Potiguar Basin Over 1 billion barrels Current daily produced across >70 First discovery 1979 production ~39,000 onshore fields barrels of oil equivalent Potiguar basin • Petro-Victory now has a dominant position at the heart of the Potiguar basin underpinned with produci
Slide 6: PVE – Potiguar Basin Portfolio
Polo Areia Branca PVE – Potiguar Basin Portfolio Well Density Map POT-T-281 2P Rec. – 1.4 MMbbl Morgan Mean Rec. – 0.5 MMbbl Alto Alegre Prospects POT-T-391 2P Rec. - 0.5 MMbbl 2P Rec. – 0.6 MMbbl Campolina Field / Blocks Mean Rec. – 0.9 MMbbl Certified Reserves Polo Potiguar (Canto do Amaro) Andori
Slide 7: Barreirinhas basin
Barreirinhas basin Basin summary São João Field Produced 75,000 bbl of oil Only producing field in the between 1984 and 1988 then First discovery 1966 Basin suspended until PVE in 2020 • Secured the field on a >25-year, 5% royalty, production concession, 100% WI Oil • Installed artificial lift and e
Slide 8: G&G Risk Profile
PVE Diversified Balanced Portfolio Cumulative Production Workovers PDNP Development Drilling PUDs Contingent Resources São Joao Non-associated Gas BG/Arp, 700 Sao Joao,7 Workovers, 500bopd São Joao Infill, 200bopd 10MMBOE (1.75bi.m3 recoverable), bopd 400.000m3/day (2400 boepd) DevelopmentDrilling D
Slide 9: Portfolio overview
Portfolio overview 6 Assets with reserve reports 12 Blocks with 15 opportunities 2C Mean Production outlook (bopd) 2P for the 6 assets AOI Recoveable Vol. Prospect Main Target 1 Main Target 2 (Km2) (MMbbl) 2C 4 fields 1P 2P 3P 4,000 MUSTANG 4.7 Upper Alagamar sands Pendencia sands 2.02 APPALOOSA 0.7
Slide 10: PVE Production (bopd) – Oil Resources
4,000 6,000 8,000 0 2,000 10,000 2024 Jan 2024 Aug © Petro-Victory Energy | Investor Presentation 2025 Mar 2025 Oct 2026 May 2026 Dec 2027 Jul 2028 Feb 2028 Sep 2029 Apr 2029 Nov 1C 2030 Jun PVE Production (bopd) – Oil Resources 2031 Jan 2031 Aug 2C 2032 Mar 2032 Oct 3C 2033 May 2033 Dec 2034 Jul 20
Slide 11: Sao Joao – Non-Associated Gas
Sao Joao – Non-Associated Gas Results and Development Program Type Production curve after Stimulation (IMEX Simulation) São João - Deep Gás . SALES CURVE (plateau) Cronograma de Plateau Length FIELD Plateau 450 425 419 Poços (years) (mil m³/dia) 410 400 2 2 185 Vazão de Gás no PLATEAU em mil m³/dia
Slide 12: PVE Production – Non-associated gas – São João
PVE Production – Non-associated gas – São João Total accumulated production in each case matches total GLJ 1C 2C 3C recoverable values 600 30 Gas Average Monthly Rate in 1000 m³ per day Number of Gas Producers (cumulative) 500 25 400 20 300 15 200 10 100 5 0 0 2030 Sep 2044 Sep 2051 Sep 2058 Sep 203
Slide 13: Production Outlook (boepd)
0 2,000 6,000 8,000 4,000 August-23 October-23 December-23 February-24 SENNER 2C São João 2P April-24 © Petro-Victory Energy | Investor Presentation MUSTANG 2C June-24 August-24 October-24 December-24 February-25 April-25 June-25 August-25 Production Outlook (boepd) October-25 December-25 February-2
Slide 14: PVE Production - Resources
PVE Production - Resources 2P + 2C NPV10 – Conventional Oil Reserve values per bbl of oil (6 fields) NPV10/bbl oil NPV10 2P MMbbl** 2P Reserves* (US$ millions)* Total 6.939 $36.89/bbl oil $255.7 USD $ 1.4 billion Identified Resources values (15 opportunities on 12 blocks) NPV10/bbl oil NPV10 2C MMbb
Slide 15: Financial Modeling - Production, Capex, Free Cash Flow
Financial Modeling - Production (boepd), Capex, Free Cash Flow (Excluding Source Rock Development, Primary Recovery Only) Showing Field Entry Call-outs by Production Start Date 8,000 $500,000,000 Production BOEPD Fields / Areas Value (NPV10)* $450,000,000 7,000 Through 2028 US $462.54 million São Jo
Slide 16: PVE current footprint - Q&A - Contact
PVE current footprint - Q&A – Contact: ir@petrovictoryenergy.com São Joao Field Andorinha Field Petro-Victory Office in Mossoró Solar Panel Andorinha Alto Alegre Field © Petro-Victory Energy | Investor Presentation 16
Slide 17: Value Creation
Value Creation
Slide 18: Value Creation
Value Creation • Petro-Victory is the largest acreage holder in the Potiguar basin exploration blocks (~70%), Brazil’s prominent onshore oil producing region Summary • Recently expanded its position to 34 blocks and 3 fields in the Potiguar • G&G: 3D Seismic Reprocessing, Prospect Identification, De
Slide 19: Continuing to deliver value across the portfolio
Continuing to deliver value across the portfolio Case Study POT-T-564 High ranking opportunities POT-T-564 Drill ready prospect inventory Prospect Primary target Well TD Best estimate undiscovered resources • Identify undervalued and underdeveloped oil and gas assets Fm. m bbls oil • Quantify the po
Slide 20: Appaloosa – drilling target to unlock value
Appaloosa – drilling target to unlock value Near-term drilling target identified POT-T-564 Drill ready prospect - Appaloosa • 637,000 bbls oil Mean Recoverable • Quality of Seismic Data - High • Expected to be analogous to Andorinha • Main Risks – Reservoir Quality and Oil regarding hydrocarbon type
Slide 21: Source Rock Study
Source Rock Study
Slide 22: PETRO VICTORY ENERGY map
PETRO VICTORY ENERGY Map Itens Wells ° Dy © HC Bearing or Shows * Other Expl. & Prod, Wells [1] Pve main Prospects |_| PVE Assets {| Non-PVE Oil Fields (1) Won-PvE Expl. Blocks
Slide 23: Conventional, shallow, oil fields
Conventional, shallow, oil fields Conventional oil fields located in extensional structures within the graben Oil migration through faulting to charge shallower reservoirs Thick Cretaceous graben with Source Rock in oil window Footer
Slide 24: Volumetric Results from Source Rock Study
Volumetric Results from Source Rock Study Independent GLJ Evaluation Review report assigns oil in- Estimate Total Oil in Place place volumes for the Pendencia Source Rock located P10 (low) 17.9 billion bbls of oil in place within the Petro-Victory assets. P50 (mean) 36.2 billion bbls of oil in place
Slide 25: Corporate Details
Corporate Details
Slide 26: Corporate overview
Corporate overview Corporate details Capitalization (as of December 31, 2023) C$ US$ • Listed on TSX Venture Exchange (TSX.V:VRY), since 2014 IPO Diluted shares outstanding (#, millions)† 31.5 31.5 Current price ($/share) 2.20 1.65 • Headquartered in Dallas, USA with offices in Mossoro, RN, Brazil M
Slide 27: Capital structure
Capital structure Top holders Fully diluted share capital Shareholder Shares held (Ord. + Rest.) % Total outstanding shares Instrument Price Quantum Comment ACAM LP 3,200,000 17.17% Ordinary Shares - 11,089,064 Excluding restricted 579 Max 2,274,125 12.20% Restricted Shares - 7,546,858 - Fifteen Tal
Slide 28: Pillars of our strategy
Pillars of our strategy 01 02 03 Technical Operational Financial Identify Drill Generate Cashflow Quantify Test Profitability Certify Reserves Produce Reinvest © Petro-Victory Energy | Investor Presentation 28
Slide 29: Appendix
Appendix
Slide 30: ANP – Relatório Anual de Exploração
ANP – Relatório Anual de Exploração “A PetroVictory destacou-se como a operadora que mais cresceu, alcançado, em 2022, a 1ª posição, com 34 blocos sob contrato.” p.24 © Petro-Victory Energy | Investor Presentation 30
Slide 31: PETRO VICTORY ENERGY blocks map
vA PETRO VICTORY ENERGY ” ALTO ALEG| ‘Scale = 1:450000 $400, 10800 1620021600 27000 nf Main Features [5 Pve Blocks [) PVE Oil Fields (7) 0280_BPOT3_RM14 2 0026_3D_FAZENDA_CANAA C2) 0317_3D_OESTE_SAO_MANOEL_| (LZ! 0027_3D_OESTE_SAO_MANOEL_II (LZ! 0294_PETROSYNERGY_SERRADOMEL LZ! 0026_3D_POCO_VERDE (5
Slide 32: GLJ – Reserve Report 2022
GLJ – Reserve Report 2022 © Petro-Victory Energy | Investor Presentation 32
Slide 33: GLJ – Deep Gas Report
GLJ – Deep Gas Report Low 1C 0.94bi.m3 Mean 2C 1.75bi.m3 High 3C 4.40bi.m3 © Petro-Victory Energy | Investor Presentation 33
Slide 34: Financial Modeling - Production, Capex, Free Cash Flow
Financial Modeling - Production (boepd), Capex, Free Cash Flow SJ Field – Oil and Gas 3,500 450,000,000 Oil Stimulation and Production BOEPD Oil/Gas Baseline 400,000,000 3,000 Gas Revenue Share Oil 2P NPV10 USD $73.5 million USD $112.4 million Gas Offtake USD $156.6 million USD $172.7 million 350,00
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