Constant Evolution Progress on regional Shaikan Field Commercial production export pipeline Development Plan from Shaikan and infrastructure approved revenue generation development Move Exceptional local High calibre…
Interim results 19th September 2013
Operations in progress John Gerstenlauer Chief Operating Officer
World class assets 5 discoveries in the Kurdistan Region of Iraq Share of estimated 19 billion barrels of gross oil-in-place 19 wells drilled in 4 years across 4 blocks Shaikan is a major oilfield with 40,000 barrels per day…
OPERATING Timeline overview Key PSC Milestones Key Operating Milestones 2009 Mar: Spudded SH-1, after rebuilding location due to flooding Capex: 44m Headcount: c.64 Jul: Acquired Sheikh Adi and Ber Bahr PSC interests Aug: 1st…
OPERATING Timeline overview Key PSC Milestones Key Operating Milestones 2010 Jan: Begin construction of the EWT facility Capex: 144m Headcount: c.132 Mar: Bijell-1 Discovery May/Dec: Acquired 3D seismic on Shaikan and Sheikh Adi…
2013 highlights Key PSC Milestones Key Operating Milestones 2013 Jan: Submitted the Shaikan Development Plan to the MNR (2 Feb: Bakrman-1 discovery Capex: c.200m year effort) Mar: Sidetrack and retest of Ber Headcount: c.202…
WORLD-CLASS development Shaikan - the largest global independent onshore development Expected peakproduction Expected peak production (kboe/d) (kboe/d) Major O&G Major O&G 400 player present player not present 350 300 250…
Shaikan FDP APPROVAL Production 40,000 bopd short-term production target 100,000 bopd Phase 1 production target to be achieved 18 months from date of consistent oil sales Drilling 3 rig development and production well drilling…
Shaikan phased development plan Phased development approved in June 2013 MNR-agreed production milestones 40,000 bopd in the near term; 150,000 bopd within 3 years; 250,000 bopd within 5 years Access to export routes via trucking…
First Production facility complete PF-1 Complete and commissioned Commercial production commenced on 24 July 2013 Production capacity of 12,400 bopd in early September to increase to 20,000 bopd in the near term Export quality…
Second production facility nearing completion PF-2 Mechanical completion in Oct 2013 Modular design similar to PF-1 Efficiency savings in design & installation Production capacity of additional 20,000 bopd Located 15 km from the…
Shaikan FDP concept Complete Production facility Planned Block boundary Potential pad Drilling location Oil flowline Proposed oil connector to export line Source: GKP
Most Active in Kurdistan Region of Iraq 19 wells drilled Share of 19 billion barrels 5 commercial discoveries of oil in place 0 dry holes across 4 blocks Shaikan is one of the Moving to field = strong operating team largest…
Interim results 19th September 2013
FINANCIng GROWTH Ewen Ainsworth Finance Director
Financing growth Currently no plan to issue equity Diversified base of funding opportunities Excalibur ruling removes uncertainty Production cash flows to support debt Valuable producing field and discoveries Credit rating in due…
Great Track Record Exciting Future 40,000 bopd in early 2014 Transitioning to Strong additional significant oil producer exploration growth 150,000 bopd by 2016 Experienced operating Building on the quality team supported by the…
Interim results 19th September 2013
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 of…
Such factors may negatively affect the market price of the shares. In addition, the risks described elsewhere in this Risk Factors section could materially and adversely affect the price of the shares. AIM is less liquid and more volatile…
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