TGS 2011 TGS Expands Service Offering Acquisition of Stingray Geophysical Limited 11 April p 2011
Forward-looking Statements All statements in this presentation other than statements of historical fact, are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to…
Transaction Highlights TGS has signed an agreement with the owners of Stingray Geophysical Limited (Stingray) to acquire 100% of the outstanding shares. The purchase price paid by TGS consists of an upfront payment of 45 MUSD at…
Stingray in Brief Stingray delivers integrated fiber-optic seismic solutions for permanent monitoring of the reservoir. The company was established in March 2006 as a spin-off from QinetiQ (UK defense research laboratories) where…
Stingrays Stingray s Fosar System Stingray solution is based Interrogator and around d its it core fiber-optic fib ti recording sensing technology Fosar. systems The technology is unique and covered d by b an extensive t i…
TGS adds Great Value to the PRM Value Chain Non traditional seismic activities Traditional seismic activities PRM Front End Reservoir System Reservoir Feasibility Engineering Installation Acquisition Data answer Supply model…
Why Oil Companies Benefit from Fiber-optic Fiber optic PRM Important p tool for increased well intervention, production p drilling g and other means for enhanced oil recovery. More accurate data from the reservoir. Repeat…
PRM Expected to Dominate 4D Seismic in the Future MUSD contracts Marine 4D Seismic Market* 4D seismic has grown dramatically since 2005 and represents a market greater than 1 BUSD. More than 500 MUSD in seabed contracts t t in i…
Competitive Dynamics 4D 4D-4C Ocean Bottom Streamers Nodes PRM (Electrical) PRM (Fiber-Optic) Cables (OBC) Provided by all of the main service providers Fiber-optic PRM is considered to be the most sophisticated PRM seismic…
Value Drivers for Acquisition The Importance of EOR Crude oil from currently producing fields expected to decline significantly Strong need to mitigate fall in production by Increasing investments in enhanced oil recovery y (EOR).…
TGS Addressable Market to Grow Substantially Current TGS market PRM market Combined market 2.5 BUSD* 1.7 BUSD (2015E)** 4.2 BUSD MC PRM *Source: TGS estimate **Source: Stingray estimate Size of pies for illustration…
Stingray Provides TGS with Access to Production Spending Percentage of spending L Leasing i 30% Exploration 20% Seismic 50% 20% Drilling E&P spending 20% 80% FPS 20% Production 20% SPS 20% 20% SURF Seismic /…
Long term Contracts with Predictable Revenue Stream Potential Upcoming PRM Contracts* Client Category* MUSD A significant part of revenue comes from NOCs *Stingray estimate A number n mber of potential upcoming pcoming PRM…
Unique and Patented Technology Portfolio Technology development is vital to meeting future demand for enhanced oil recovery services. Stingray has developed a unique and strong portfolio of patents and intellectual property…
New Business Line = Increased Growth and Diversification Geophysical Data PRM (New) Geological Imaging Services 2D Seismic FEED Digital well data Seismic processing 3D Seismic Fosar equipment (arrays, Directional Surveys High end…
Transaction Rationale Summary Extension of TGS asset light business model Equipment manufactured upon contract award Re-occurring and predictable revenue stream Large contracts Multi-year surveys Access to new revenue streams…
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