Shamaran Petroleum Ltd. · OSL:SNM
Shamaran Petroleum — Investor Presentation (January 2013)
16 slides from Shamaran Petroleum's investor presentation, January 2013
Slide 1: Corporate Presentation, January 2013
CORPORATE PRESENTATION, JANUARY 2013
Slide 2: Kurdistan Maintaining Forward Momentum
Kurdistan Maintaining Forward Momentum 2 » Continued interest in the region. Erbil tagged as the “Exploration Capital of the Kurdistan World “. » Entry of supermajors in the region (Exxon, Chevron, TOTAL, Gazprom) a significant development . » High activity level : • KRG Production capacity increase
Slide 3: Political Developments
Political Developments 3 » Strengthening relationship with Turkey: » Significant economic ties - Major trading partner. » Regional Energy and Security Agreement signed in May 2012. » Limited direct exports of oil from KRG to Turkey. » Relationship with Baghdad: » Erbil and Baghdad entered into an ex
Slide 4: Atrush – Strong Contractor Group
Atrush – Strong Contractor Group 4 » Abu Dhabi National Energy Company (TAQA) purchases Aspect Energy International interest in GEP and is the new Operator. » Transaction closed in December 2012. » ShaMaran now owns 100% of GEP. » Atrush PSC holding (pre KRG back in): » TAQA 53.2 % » GEP (ShaMaran)
Slide 5: Atrush – A World Class Discovery
Atrush – A World Class Discovery 5 » Atrush-1 Discovery Well recompleted in October 2012 ready for production. Shaikan » Atrush-2 tested over 42,200 bopd (facilities constrained) from “BSAM”. » Atrush-2 confirmed additional oil discoveries below the “BSAM” in the Adaiyah & Butmah. KRG notified. » Co
Slide 6: Atrush-2 "BSAM" Well Testing Results
Atrush--2 “BSAM” Well Testing Results Atrush 6 » AT-2 DST#5 (Sargelu): Tested up to 15,829 BOPD (equipment constrained)*. » AT-2 DST#4 (Alan): Tested up to 14,670 BOPD (equipment constrained)*. » AT-2 DST#3 (Mus): Tested up to 11,714 BOPD (equipment constrained)*, no water confirming deeper Oil Down
Slide 7: Atrush-3 Appraisal Well
Atrush--3 Appraisal Well Atrush 7 » AT-3 approved. 9 km east stepout from AT-1 discovery well. Location under construction. Vertical well designed to locate the Oil Water Contacts and Free Water Levels in the “BSAM”, Adaiyah & Butmah formations. » Provisional TD 1700m. Estimated well cost $16 millio
Slide 8: Atrush - Outlook for 2013
Atrush - Outlook for 2013 8 » Following Declaration of Commerciality in November 2012, the new operator (TAQA) is preparing the Field Development Plan. » Preparing to drill appraisal/development well Atrush-3. Two further wells budgeted for 2013. » First oil planned for 2013. Facilities planning in
Slide 9: Atrush Jurassic Oil Discovery – YE 2011 Resource Base
Atrush Jurassic Oil Discovery – YE 2011 Resource Base 9 Gross Contingent Low Best Mean High Resources* (Barsarin, (1C) (2C) (3C) Sargelu, Alan-Mus, Adaiyah) Total (MMBOE) 275 465 513 813 Gross Prospective Low Best Mean High Resources* (Cretaceous & Jurassic Butmah) Total (MMBOE) 74 134 146 235 * YE
Slide 10: Atrush – Exploration Upside
Atrush – Exploration Upside 10 » Cretaceous hanging wall above Jurassic reservoirs (oil shows in AT-1). » Cretaceous footwall trap. “BSAM” in the footwall. » Deeper Triassic targets (Kurra Chine above AT-1 & Kurra Chine “C”). » Potential extension of Swara Tika discovery into northern part of the bl
Slide 11: Corporate Position
Corporate Position 11 » Fully funded for the agreed 2013 Work Program. » No outstanding debt. Potential to raise debt financing for the full field development. » Atrush assets provides a solid base for growth. » Exploring new opportunities in the MENA region.
Slide 12: The Lundin Group
The Lundin Group 12 Combined Market Cap >$13.3 Billion
Slide 13: Lundin Group Track Record for Shareholder Return
Lundin Group Track Record for Shareholder Return 13 Company 2002 Recent Notes Tanganyika $0.55/share $31.50/share Sold to Sinopec 2008 $13.5 million MC $1.9 billion MC Valkyries $0.45/share $16.00/share Sold to Lundin Petroleum $4 million MC $750 million MC 2006 Red Back $1.35/share (2000) $30.50/sh
Slide 14: Profile & Contacts
Profile & Contacts 14 » Symbol TSX V & NASDAQ OMX First North: SNM » Share Capital Issued and outstanding 810,983,860 shares www.shamaranpetroleum.com Fully diluted 813,607,194 shares » Directors and Management » Keith Hill, Chairman of the Board » J. Cameron Bailey, Director » Pradeep Kabra, Direct
Slide 15: Cautionary Statements
Cautionary Statements 15 This document 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 a
Slide 16: ShaMaran Petroleum Corp – A Lundin Group Company
petroleum corp )) ALundin Group Company
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