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CORPORATE PRESENTATION – Transglobe Energy Corporation

Transglobe Energy Corporation · Aug 1, 2014 · 27 slides

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Slides

  1. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 1
    TRANSGLOBE ENERGY CORPORATE PRESENTATION AUGUST 2014
  2. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 2
    INTRODUCTION TO TRANSGLOBE ENERGY Functional Early operations included U.S., Canada currency US and Yemen Focus in Egypt began in Proven track record 2004 currently 95% of with extensive Middle production East experience…
  3. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 3
    2014 GUIDANCE UNDER REVIEW Q1 + Q2 17.2 MBopd Q3 15.0 Mbopd Production West Gharib PCP pump replacement underway Yemen S-1 shut in 126.5MM (1.67/share) 2014 117.2MM excluding 9.3MM Caracal termination fee Funds Flow Q3 & Q4 at…
  4. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 4
    2014 CAPITAL GUIDANCE TransGlobe Net Capital (MM) Development Exploration Gross Well Count Concession Wells Projects Wells Seismic Total Dev Expl Total Eastern Desert 46.5 9.3 16.8 14.7 87.3 29 14 43 Western Desert 2.5 1.0 2.8 0.0 6.3 3…
  5. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 5
    INVESTMENT HIGHLIGHTS LAND 1.1 MILLION GROSS ACRES 2013 RESERVES 2P 45.3 MMBbl 2014 PRODUCTION 16,000 Bopd 2014 EXPLORATION AND DEVELOPMENT 51 WELLS EGYPT (8 Projects) 100% Working Interest West Gharib* North West Gharib South…
  6. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 6
    Q2 2014 FINANCIAL HIGHLIGHTS Funds flow of Earnings of 43.2MM* 26.2MM* (0.57/share) (0.35/share) Spent 110.1MM in 17.1MM on cash and cash expl and dev equivalents Positive Collected working capital 45.1MM from of 271MM EGPC…
  7. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 7
    SNAPSHOT OPERATIONS 2014 DRILLING PROGRAM 2014 Q1 + Q2 Production average(Bopd) 16,112 CONCESSION APP/DEV EXPL Total Egypt Production 15,955 West Yemen Production 529 Gharib 8 1 9 July Production (Bopd) 15,275 West Bakr 14 3 17…
  8. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 8
    EGPC ACCOUNTS RECEIVABLES Targeting 250 Million in 2014, 2013 Collections of 275 Million Collections in Q2 were 45.1 Million AR outstanding vs Months outstanding AR outstanding vs Production per day 250,000 12 250,000 20,000 18,000…
  9. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 9
    PRODUCTION AND RESERVES Average Daily Production P + P Reserves (Bopd) (MMBbl) 25,000 60 Yemen Egypt Canada Yemen Egypt Canada 20,000 48.7 18,303 50 17,457 45.3 44.2 16,000* 40 15,000 12,132 30.4 9,960 30 10,000 24.2…
  10. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 10
    FUNDS FLOW AND RESERVES/SHARE Funds Flow from Operations Funds Flow from Operations per Share (USMM) (USMM/Share Diluted) 200 2.40 2.00 160 * 1.60 120 1.20 2.03 80 154 139 1.70 1.67 125 0.80 1.60 120 1.09 40 75…
  11. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 11
    EGYPT ASSETS: EASTERN DESERT East Ghazalat (50%) South Alamein (100%) Acquired 2010 Acquired 2012 102,000 Gross acres 197,000 Gross acres Dev & Expl Expl CAIRO West Gharib (100%) Acquired 2007 West Bakr (100%) 28,000 Gross…
  12. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 12
    WEST GHARIB: 100% WI - OPERATED 2014 Plan 9 wells Waterflood optimization Hoshia ASP flood simulation/lab work Facility centralization and upgrades Q2 9,987 Bopd Drilled 3 oil wells YTD drilled 8 wells 7 oil wells, 1 D&A…
  13. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 13
    NW GHARIB: 100% WI - OPERATED Prospective Resources * Chance of Wells Description (millions of Success barrels) Nukhul pools proximal NWG 1,2,3,4,5,7 6.9 40 to 60% to Arta / East Arta NWG 6 Nukhul structure 11.8 16% NWG 8…
  14. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 14
    WEST BAKR: 100% WI - OPERATED 2014 Plan 17 wells H Water flood optimization Facility upgrades and optimization M Q2 K 5,182 Bopd Drilled 4 oil wells YTD drilled 7 wells 3 oil wells K field 4 oil wells, 1 injector well H…
  15. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 15
    EASTERN DESERT: 100% WI - OPERATED Planning large seismic program for 2014/15 in Egypt NW Gharib Total program 1,400 km 3-D & 300 km 2-D Eastern Desert 1,000 km 3-D & 300 km 2-D Western Desert 400 km 3-D NW Gharib 2014 Plan: up…
  16. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 16
    EASTERN DESERT DRILLING HISTORY 2007-2014 40 NW Gharib Current Drilling Totals 30 West Bakr Producing Wells West Gharib Oil Wells 146 20 West Gharib 72 10 West Bakr 42 D&A Wells 20 0 Total 114 Success Rate 88% 2007 2008 2009 2010…
  17. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 17
    EASTERN DESERT INVENTORY Location Inventory Potential Drilling Locations Concession App/Dev Expl West Gharib 3 2 West Bakr 25 3 NW Gharib 44 33 SW Gharib - 4 SE Gharib - 2 Eastern Desert Totals 72 44 18
  18. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 18
    EGYPT ASSETS: WESTERN DESERT East Ghazalat (50%) South Alamein (100%) Acquired 2010 Acquired 2012 102,000 Gross acres 197,000 Gross acres Dev & Expl Expl CAIRO West Gharib (100%) Acquired 2007 West Bakr (100%) 28,000 Gross…
  19. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 19
    SOUTH ALAMEIN: 100% WI - OPERATED Acquired in 2012 2014 Plan Contingent on Boraq access Boraq 2 tested at 1,700 Bopd* Expl period Clock stopped 20 + months from access approval Retained 800 square kilometers *The primary…
  20. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 20
    EAST GHAZALAT: 50% WI - NON-OPERATED 2014 Plan North Dabaa Dev Lease 5 wells Safwa Field N Dabaa Dev Q2 795 Bopd to TG 1 Safwa oil well YTD drilled 3 wells EG 3 expl D&A 2 Safwa oil wells Drilling N.Dabaa 2 appraisal well…
  21. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 21
    SOUTH GHAZALAT: 100% WI - OPERATED North Dabaa Dev Lease 2015 Plan 400 km 3-D seismic program on SW portion of block 22
  22. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 22
    YEMEN: 25% / 13.81% WI 2014 Plan Projects and wells (3) delayed due to Tribal Salsala Exploration Well issues Q2 529 Bopd Sales 220 Bopd Production B-32 only Block S-1 (1,500 Bopd to TG) remains shut in since Feb/14 due to…
  23. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 23
    TRANSGLOBE ENERGY CORPORATE PRESENTATION AUGUST 2014
  24. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 24
    THREE YEAR (2011 2013) F & D COSTS F&D and Recycle Ratios 3 Yr Weighted 2P 2013 2012 2011 Average Netback* 19.64 / Bbl 22.08 / Bbl 26.24 / Bbl 22.19 / Bbl /Bbl F&D 34.78 / Bbl 4.46 / Bbl 7.07 / Bbl 10.02 / Bbl FD&A 47.96 / Bbl 7.36 /…
  25. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 25
    EXECUTIVES AND DIRECTORS Robert G. Jennings - Director, Chairman Ross G. Clarkson - Director, President and CEO Lloyd W. Herrick - Director, VP and COO Geoffrey C. Chase - Director Fred J. Dyment - Director Erwin L. Noyes Director…
  26. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 26
    ANALYST COVERAGE Christopher Brown, Canaccord Genuity, Calgary, Canada David Phung, Credit Suisse Securities, Calgary, Canada Victor Vallance, Edgecrest Capital, Toronto, Canada Gerry Donnelly, First Energy Capital Corp., London,…
  27. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 27
    CONCESSION SUMMARY Working Concession Size (acres) Year Concession First Production Q2 2014 Concession Interest Gross Net Acquired Type Date Sales West Gharib 100% 28,904 28,904 2007 Development January 2000 9,987 NW Gharib 100%…

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