Investor Presentation 21 March 2012 www.gulfkeystone.com
Board and management team Todd Kozel John Gerstenlauer Ewen Ainsworth Ali Al-Qabandi Tony Peart Chris Garrett Vice Executive President Chairman & Operations Chief Chief Business Legal and Executive Operating Finance Dev. Commercial…
Key messages 1. Multi-billion barrel discovered resources 2. High-probability exploration prospect inventory 3. Continuous growth and value creation 4. Proven operating capability & leading Kurdistan brand 5. Clear…
A coveted position in one of the Last Frontiers Kurdistan Region of Iraq is an underexplored Ber Bahr Turkey prolific oil province with 70% discovery rates Sheikh Adi Akri-Bijeel Zakho Syria GKP has interests in four adjacent…
Number of Blocks Number of Wells 1 2 3 4 6 7 0 5 0 5 10 15 20 Exxon DNO Genel Energy Genel Energy KNOC GKP OMV Sinopec/Addax GKP MOL Marathon Talisman ShaMaran Petroleum Western Zagros Petoil Petoil DNO…
Shaikan: Giant field in context Shaikan is one of the of the most significant discoveries in the world in the last ten years Greater London Brent Field, UK North Sea 3.8 billion barrels STOIIP Shaikan Field 10.5 billion…
Shaikan: Big fields get bigger From discovery in August 2009 to today, the estimated size of Shaikan has grown considerably Volumes supported by independent third party evaluations Further growth potential as new wells are drilled and…
Shaikan is just the start Incremental billion barrel potential across three other blocks Targeted by the 2012 exploration and appraisal program and beyond Bijell-1 test production facilities on the Akri-Bijeel block, similar to the…
History of operating success Processed 814 km 2 3D seismic on Shaikan and Sheikh Adi 100% success on 3 exploration wells 11 wells drilled or being drilled Shaikan flow tests up to 20,000 bpd on a single well Existing EWT…
Exploration and appraisal programme 2012-2013 Drilling program High impact drilling campaign planned and funded through 2012/13 based on current plans Targeting 6 exploration wells and 3 appraisal wells 7 rigs across 4 blocks (3 x…
Shaikan conceptual development plan Licence boundary Fault GKP planned pipeline Drilling pad Development well (connected to pad) Development well (not connected to pad) Appraisal Wells Complete Drilling to…
Pipeline routes and locations GKP plans to build 440,000 bpd, 122km pipeline from Shaikan to connect with Kirkuk-Ceyhan pipeline Approximately 1 million bpd ullage in Kirkuk-Ceyhan pipeline Ceyhan Iran Turkey Tawke…
PSC decouples production costs from contractor returns Sensitivity analysis Shaikan oil PSC Returns are highly insensitive to capex and opex GROSS REVENUE Higher costs keep R-Factor lower for longer 100% ROYALTY 10% NET REVENUE…
Performance comparison - Oil & Gas Producers & AIM Share price at the IPO In Sept 2004 = 0.48 pence with the Gulf Keystone Petroleum Ltd market capitalization of 122 million Oil & Gas Producers AIM Closing share price on 13 Feb 2012…
History of remarkable growth 15
Strong Kurdistan brand Government relations Erbil, November 2011 Long-standing partnership with the Kurdistan Regional Government (KRG) Recognised as an early believer in the Kurdistan story Shaikan field important for the KRGs 1…
Defined path to grow shareholder value 2012 2013 2014+ Delineate Shaikan field Shaikan pipeline start-up First production from permanent Shaikan facilities Appraise Shaikan deep Further increase Shaikan EWT undrilled horizons…
Concluding remarks Multi-billion barrel Clear path to 400,000 discovered resources bpd production Continuous growth and value creation Proven operating High-probability capability & leading exploration prospect…
Risk factors Oil and gas pricing and demand The price of and demand for oil and gas is highly dependent on a number of factors, including both domestic and international supply and demand levels, energy policies, weather, competitiveness…
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