Gulf Keystone Petroleum Limited · LSE:GKP
Gulf Keystone Petroleum — Pareto Securities 28th Energy Conference 2021
12 slides from Gulf Keystone Petroleum's conference presentation, Sep 15, 2021
Slide 1: Pareto Securities Energy Conference September 2021
Pareto Securities 28 Energy Conference 15 September 2021
Slide 2: Disclaimer
Disclaimer This proprietary presentation (the “Presentation’) has been prepared by Gulf Keystone Petroleum Limited (the “Company’). Under no circumstances may this presentation be deemed to be an offer to sell, a solicitation to buy or a solicitation of an offer to buy securities of any kind in any
Slide 3: Introducing Gulf Keystone Petroleum
| Introducing Gulf Keystone Petroleum The Shaikan Field * One of the largest fields in Overview * Pure-play Kurdistan E&P " Operator of Shaikan Field (80% WI) * ~$550m market cap"): UK listing = $100m Nordic bond (due July 2023) Our investment case * Track record of safe & reliable production * Lead
Slide 4: ESG
ESG Sustainability underpins our licence to operate & ability to deliver long term value Strategy development GKP’s material ESG focus areas « Aligned to recognised frameworks, such as UN SDG and TCFD *" Underpinned by targets and transparent disclosure * Environmental focus on >50% reduction in CO,
Slide 5: 2021 Half Year Results highlights
2021 Half Year Results highlights Strong operational and financial performance =" Continued excellent safety performance LTls >600 days " Managing impact of COVID-19 = Strong cash generation and profitability ‘000 bopd 2021 YTD gross * Production towards top end of 2021 guidance production”) * Gross
Slide 6: Current developments at the Shaikan Field
Current developments at the Shaikan Field Continuing production momentum Wells [5 Facilities Shaikan flowlines Kurdistan oil pipeline — Export pipeline River network [5 Block licences Kilometres 1) 55,000 bopd programme Scope: = Expect to spud Q4 2021 =" SH-13 & SH-14 = Expect online Q] 2022 " Two E
Slide 7: Shaikan in pictures
| Shaikan in pictures SH-13 & SH-14 well pad PF-2 -_ it | ; if | ait 1 oe a ity ny : y }.
Slide 8: Developing the Shaikan Field
Developing the Shaikan Field Preparing the Field Development Plan FDP update & components Gross Shaikan reserves & resources” = Constructive engagement with 1000 MNR and MOL =" Target submission in Q4 2021 800 for MNR approval Total 2C: Total 2P + 2C: 293 MMstb 798 MMstb = Continue to optimise scope
Slide 9: Crude oil payments
Crude oil payments * Received $150 million net year to date from KRG for crude oil sales and arrears * Current outstanding arrears balance of net $50 million $35 $30 $25 $4m Shin $3m $3m $20 $sm $3m $15 $25m $10 $22m $21m in Svar $17m Hm S18m “EEREEE USSm (net) Month of Jun-20 Jul-20 Aug-20 Sep-20 O
Slide 10: Shareholder distributions
Shareholder distributions Committed to balancing investment in growth with shareholder returns = $50 million distributed YTD through Annual ordinary dividend Reinstated: 31 March 2021 Paid: 2 July 2021 ordinary and special dividends " Declared interim dividend of $50 million for 2021 Special dividen
Slide 11: Outlook
Outlook Realise long-term Shaikan potential with shareholder returns (C >) =" Gross production guidance: 42 - 44k bopd Achieve 2021 guidance = Net Capex: US$75 - 85 million with SH-G = Gross Opex: USS$2.5 - 2.9/bbl S S f ‘ * Production towards 55k bopd in Q4 2021 Deliver growth * Drill SH-G; expect
Slide 12: Thank you
12 Thank you More resources are available at: www.gulfkeystone.com > Lc \ kJ
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