TARGETS ARE IN AREAS OF KNOWN PRODUCTION (26 MMBo produced) (110 Bcf produced) Natural Gas 13.8 BCF Proved Reserves (19% YE13) 10.4 MMCFPD Production (37% 1Q14) Crude Oil 200 kilometers 9.9 MMBOE Proved Reserves 125…
THREE-PART STRATEGY UNDERWAY TO INCREASE PRODUCTION AND CASH FLOW IN TURKEY Molla Area Drilling Program (Southeast, Oil) elmo Field Redevelopment (Southeast, Oil) Acquired 800 km2 of 3D seismic over Molla area and Remodeled field…
ESTIMATED 2014 PRODUCTION GROWTH Expect to spend 106 million of capex in 2014 Investing 85% of capital in southeastern Turkey (oil); average netback 70+/BOE Q3-Q4 2014 Estimates Thrace Area Molla Area (SE Turkey, oil) elmo Area…
CONSERVATIVE PRODUCTION FORECAST GUIDANCE ASSUMPTIONS FOR 2014 Estimated results for the remainder of 2014 are based on conservative risking: Estimated Actual Targeted Production Basin Well Type Analog Analog Well Reserves…
MOLLA AREA GROWTH PLAN Q3-Q4 2014 Estimates Thrace Area Molla Area (SE Turkey, oil) elmo Area (SE Turkey, oil) (NW Turkey, gas) Current Natural Drilling Waterflood Natural Drilling Waterflood Natural Drilling 2014 Year-End BOEPD Net…
MOLLA AREA, SOUTHEASTERN TURKEY EIGHT WELLS SPUDDED YEAR-TO-DATE Perencos Kastel Field (EUR 15 MMBO) elmo Field Drilled 5 Bahar Field Spudded 2 Bat Raman Field Largest oil field in Turkey Drilled 1 Idil Prospects…
EXPECT NEW 3D SEISMIC TO IMPROVE TARGETING IN TURKEY In the past year, we shot more than 1,000 km2 (386 miles2) of new 3D seismic in Turkey Selecting well locations in southeastern Turkey based on new seismic Currently drilling two…
MOLLA AREA: BAHAR FIELD DEVELOPMENT PLAN SOUTHEASTERN TURKEY, OIL, 100% WI Initial five wells will be vertical in order to de-risk the geology of the Bahar structure Top Bedinan Structure (10,000) 1 kilometer 10
MOLLA AREA: BAHAR FIELD DEVELOPMENT PLAN SOUTHEASTERN TURKEY, OIL, 100% WI Vertical wells will produce from both the Bedinan and Hazro formations Top Hazro F4 Structure (8,700) 1 kilometer 11
ELMO FIELD GROWTH PLAN Q3-Q4 2014 Estimates Thrace Area Molla Area (SE Turkey, oil) elmo Area (SE Turkey, oil) (NW Turkey, gas) Current Natural Drilling Waterflood Natural Drilling Waterflood Natural Drilling 2014 Year-End BOEPD Net…
PILOT PROJECTS TO INCREASE OIL RECOVERY SOUTHEASTERN TURKEY Pilot Project Status elmo field waterflood - Converted two wells to injectors in 1H 2014 - Injected more than 70,000 barrels of water to date elmo field polymer…
ELMO FIELD DEVELOPMENT PLAN SOUTHEASTERN TURKEY, OIL, 100% WI elmo development is focused on increasing the recovery of the field; converting probable and possible reserves into proved reserves Recent successes in southeastern portion…
ELMO FIELD DEVELOPMENT PLAN SOUTHEASTERN TURKEY, OIL, 100% WI Changing well orientation in the elmo field to lower well costs and increase production Rather than drilling perpendicular to faults, drill parallel to faults Drilling…
ELMO FIELD DEVELOPMENT PLAN SOUTHEASTERN TURKEY, OIL, 100% WI Commenced secondary recovery in elmo in 1Q 2014 to increase field recovery Plan to convert at least four wells to injection in 2014 as pilot test elmo Field Waterflood…
ELMO FIELD DEVELOPMENT PLAN SOUTHEASTERN TURKEY, OIL, 100% WI Initiated polymer injection in elmo in 1Q 2014 to increase oil production Initial five wells added 250 BOPD for a total cost 1 million Following observation period,…
THRACE BASIN GROWTH PLAN Q3-Q4 2014 Estimates Thrace Area Molla Area (SE Turkey, oil) elmo Area (SE Turkey, oil) (NW Turkey, gas) Current Natural Drilling Waterflood Natural Drilling Waterflood Natural Drilling 2014 Year-End BOEPD…
THRACE BASIN DEVELOPMENT PLAN NORTHWESTERN TURKEY, NATURAL GAS, 41.5% WI Future proved reserves potential from horizontal drilling of tight gas in the Mezardere and Teslimkoy formations; applying multi-stage completion technology…
THRACE BASIN DEVELOPMENT PLAN NORTHWESTERN TURKEY, NATURAL GAS, 41.5% WI Drilled two horizontal wells in 1Q 2014: BTD-2H IP of 2MMCFPD; TDR-11H IP of 2MMCFPD (additional cleanouts in process) Potential to drill 2-4 Mezardere…
THRACE BASIN DEVELOPMENT PLAN NORTHWESTERN TURKEY, NATURAL GAS, 41.5% WI Shot 234 km2 (90 miles2) of new 3D seismic in the Osmanl area of the southern Thrace Basin Planning a campaign for conventional, vertical appraisal wells to…
BULGARIA EXPLORATION NATURAL GAS, 50% WI Bulgaria Well Status Deventci-R2 tested at 2MMCFPD with condensates after perforation Currently performing a build-up pressure test of the well Expect to request approval to acidize…
OPERATING AND FINANCIAL HIGHLIGHTS Results for three months ended: 6/30/2013 9/30/2013 12/31/2013 3/31/2014 Net Sales Oil (BBLD) 2,527 2,500 2,533 2,889 Natural Gas (MCFD) 8,967 9,435 11,174 10,378 BOED 4,022 4,076 4,391 4,622 %…
YEAR-END 2013 RESERVES Total 1P + 1P + 2P + Total Proved Reserves PDP PDNP PUD Probable Possible (1P) (MMBoe) (2P) (3P) 12/31/2012 5.1 1.4 5.1 11.6 21.6 54.2 Reserve 2.3 (0.5) 0.5 2.3 4.3 2.0 Changes Production (1.7) 0.0…
NPV OF RESERVES, SELLSIDE TARGETS Reserves as of 12/31/2013 Discounted at: US/Share 37.4 MM total shares at 12/31/2013 0% 10% PDP 11.68 8.76 PDNP 1.44 0.99 PUD 8.81 6.12 Total 1P Reserves 21.93 15.87 Sellside Firm Research…
CONCLUSIONS Focused on targeted drilling with the use of newly acquired 3D seismic Secondary recovery in legacy elmo field expected to increase production Year-end 2014 exit rate guidance based on conservative estimates 26
APPENDIX 27
NEW PRESIDENT AND COO TRACK RECORD OF GROWTH Led Longfellow Energy to 98% production growth and 202% reserves growth in 2013 Todd C. Dutton, President James R. Huling, COO 37 years of industry experience 29 years of industry…
CONTACTS Taylor C. Beach Wil F. Saqueton Director of Investor Relations VP & CFO (214) 265-4746 (214) 220-4323 Taylor.Beachtapcor.com www.TransAtlanticPetroleum.com 29
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