Gulf Keystone Petroleum Ltd. London Stock Exchange Oil & Gas Investor Forum 26 January 2012
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…
A coveted position in one of the Last Great Frontiers 1. Multi-billion barrel discovered resources 2. Proven operating capability & leading Kurdistan brand 3. Clear path to exceed 400,000 bpd production 4.…
Four highly-prized blocks Ber Bahr Turkey Kurdistan is an underexplored prolific oil Sheikh Adi Akri-Bijeel Zakho province with 70% discovery rates Syria Iran GKP has interests in four adjacent and on-trend blocks 4…
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…
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…
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…
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…
Shaikan is just the start Incremental billion barrel potential across three other blocks Targeted by the 2012 exploration program and beyond Source: GKP 9
Exploration programme 2011-2012 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 GKP, 3 x MOL…
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…
Concluding remarks Multi-billion barrel Clear path to 400,000 discovered resources bpd production Proven operating High-probability capability & leading exploration prospect Kurdistan brand inventory 12
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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