Gulf Keystone Petroleum AIM: GKP January 2011 Investor Presentation
Management Todd Kozel John Gerstenlauer Ewen Ainsworth Ali Al-Qabandi Executive Chairman & Business Development Chief Executive Officer Chief Operating Officer Finance Director Director Co-founder Appointed October 2008 Appointed…
Company Overview - History Offices currently in Bermuda, London, Algiers and Erbil, Iraq Founded by UAE, Kuwaiti and US private equity 2001 2001 Incorporated in Bermuda 2004 Listed on AIM, a market of the London Stock Exchange under…
Highlights Gulf Keystone focused on oil and gas opportunities in Kurdistan Two exploration wells drilled two discoveries Shaikan and Akri Bijeel Independent report by Dynamic Global Advisors of Shaikan-1 oil in place of 1.9 to 7.4…
Gulf Keystone Structure Corporate structure Gulf Keystone (GKP) Listed on AIM (2004) 100% Gulf Keystone Petroleum Interests in Algerian assets International (GKPI) Held for sale Interests in Kurdistan assets Licence…
Kurdistan Licences Asset summary for GKPI Block Working interest Summary acreage position Terms/Commitments (8) Status 51% GKPI (Fully diluted) (1) z Operator: GKPI z 3 yr Phase 1 (6) ends Nov 2010 9 171 km 2D seismic acquired in…
Kurdistan Region Highly prospective oil province of Kurdistan in Northern Iraq Several recent major discoveries (Heritages Miran West; GKPs Shaikan-1) Over 25 international oil companies in the region Many undrilled surface…
Shaikan ASSET SUMMARY STATUS Working Interest GKPI 75% Successful Shaikan-1 well completed on 23rd Nov 09 Fully diluted working interest(1) GKPI 51% Final depth at 2,950m due to high pressures Operator GKPI Various tests at…
Reservoirs & fluid contacts schematic GKP October 2010 interpretation 9
Formations encountered in SH-1 GKP Net Pay Count Oil/Gas Cretaceous = Upper Jurassic = Lower Jurassic = Triassic = Mainly non-reservoir = GKP January 2010 interpretation GKP petrophysical interpretation 10
Jurassic reservoir pressure data Pressure (psi) 0.0 1000.0 2000.0 3000.0 4000.0 5000.0 6000.0 0.0 2 R = 0.9996 500.0 1000.0 Oil gradient of 0.359psi/ft based on DST1, DST2 & DST3 oil pressure data 1500.0 OWC = 2230m 3930…
Top Jurassic TWT P50 (1169m TVDSS) GKP interpretation of geological data 12
Top Jurassic TWT P10 (1500m TVDSS) GKP interpretation of geological data 13
Top Jurassic TWT P1 (2230m TVDSS) GKP interpretation of geological data 14
Shaikan-1 & 3 Extended Well Test (EWT) Facilities complete & 20,000 barrel tank 8,000 bopd test production target Testing and commissioning of facilities complete Domestic oil sales contract to be implemented with local…
Sheikh Adi ASSET SUMMARY PROSPECTIVITY Working Interest(1) GKPI 80% Large mapped surface anticline of 34.8 km2 (main structure) (3) Operator GKPI Further 40 km2 closure identified in north of block as eastern Other partner KRG 20%…
Ber Bahr ASSET SUMMARY PROSPECTIVITY Working Interest(1) GKPI 40% Large mapped surface anticline covering 50% of block crossed by Operator Genel 40% recent 2D seismic grid(3) Other partner KRG 20% On trend with Shaikan and Sheikh Adi…
Akri Bijeel ASSET SUMMARY STATUS Working Interest GKPI 20% 442 km of 2D seismic acquired in 2008 on budget Fully diluted working interest(1) GKPI 12.8% Operator MOL 80% Bijell-1 well spudded 11th December 2009 Estimated operator oil…
Work Programme Kurdistan 2011/ 2012 work programme Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar WDI 842, Shaikan Appraisal Wells Shaikan-2 Shaikan-6* New Rig, Shaikan Appraisal Wells Shaikan-4 Shaikan-7*…
Algeria Assets Update The Company holds exploration and appraisal rights over six blocks and Strategic shift from Algeria to Kurdistan two producing fields in the Republic of Algeria Orderly exit planned with assets held for sale and…
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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