2012 Half Year Report - 12 September 2012 Source: GKP www.gulfkeystone.com
Key messages 1. Multi-billion barrel discovered resources 2. A leading operator in the Kurdistan Region of Iraq 3. Shaikan: in transition to development 4. Defined path to grow shareholder value 2
Board and senior management team Todd Kozel John Gerstenlauer Ewen Ainsworth Ali Al-Qabandi Tony Peart Executive Chairman & Chief Chief Business Legal and Executive Operating Finance Dev. Commercial Officer Officer Director…
A period of solid growth Added 6.2 billion barrels to the Shaikan PMean Ber Bahr gross OIP estimates since 31 December 2011 Turkey Sheikh Adi Akri-Bijeel Zakho Shaikan appraisal programme completed Syria Shaikan declared a…
Consistent drilling performance 5
Significant additions to multi-billion barrel discovered resources Since 31 December 2011, the estimated PMean oil-in-place of Shaikan has increased by 83% Shaikan is No 1 among the Kurdistan oil fields by volume and one of the largest…
Company highlights from 31 December 2011 83% increase in gross oil-in-place numbers (PMean) for the Shaikan discovery with a new range of 12.4 billion (P90) to 15.0 billion (P10) barrels, with a mean value of 13.7 billion barrels,…
Company outlook Complete and submit the Shaikan Field Development Plan by the end of January 2013, select development concept and move to the large-scale staged development in 2013, with the goal of achieving 150,000 bopd by 2015 and…
Financial Summary 1H 2012 1H 2012 2011 1H 2011 Revenue USmm 15.5 6.9 1.6 Loss after tax USmm 31.4 62.4 10.3 Loss per share US 0.04 0.08 0.01 Capital expenditure USmm 95.8 167.3 64.5 Cash, cash equivalents and liquid…
Funding options Cash, cash equivalents and liquid investments of 136.9mm as at end of June 2012 With the award of the Third Party Interest in the Shaikan and Akri-Bijeel Production Sharing Contracts by the Kurdistan Regional…
Current infrastructure and path to further growth Shaikan Production Outlook PF-1 and PF-2 schematic Two such early production facilities will be installed PF-1 PF-2 Shaikan Shaikan Shaikan Shaikan Shaikan Shaikan 1 3 4 2 5…
The road to 1 million barrels per day of oil exports Shaikan Field Development Plan will initially target 100,000 bopd Move to 150,000 bopd by 2015 and to full plateau production thereafter Gulf Keystone's pipeline decisions are…
Defined path to grow shareholder value 2012 2013 2014+ Agreed appraisal of the Increase Shaikan early production Further increase Shaikan Shaikan field is complete to 30,000 40,000 bopd production with the large-scale staged…
2012 Half Year Report - 12 September 2012 High-probability Multi-billion barrel exploration prospect discovered resources inventory Continuous growth and value creation Proven operating Clear path to 150,000 capability…
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…
2012 Half Year Report - 12 September 2012 www.gulfkeystone.com
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