GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx Bank of America Merrill Lynch Annual Oil & Gas Investor Forum April 2013
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx GENEL ENERGY UNIQUE PORTFOLIO POSITIONED FOR GROWTH Strong resource and financial position Substantial growth in reserves and…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx SIGNIFICANT RESOURCE GROWTH April 2013 Unrisked Prospective Resources 3,168mmboe 3,897 mmboe Contingent Resources…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx GENEL ENERGY LEADING UK LISTED E&P COMPANY Net Working Interest 2P Reserves (mmboe) Current Net Working Interest Production…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx PREMIER POSITION IN KURDISTAN REGION OF IRAQ 2012 Net Production (kboepd) Genel holds material interests in 7 licenses in the…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx MATERIAL AFRICAN EXPLORATION PORTFOLIO Offshore S. Malta: Sirte Basn Libya Analogues NW Africa: Jurassic Carbonate Area 4:…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx OUR STRATEGY Maintain the highest level of corporate governance Continue to fund Kurdistan Region of Iraq (KRI) development and…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx 2013 CATALYSTS & KEY EVENTS Progress on politics and independent export infrastructure Continued production capacity growth at…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx POLITICS KRI/TURKEY RELATIONSHIP DEEPENS Relationship between Turkey and KRI continues to deepen Major trading partner…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx OIL AND GAS INFRASTRUCTURE KEY TO UNLOCKING STALEMATE Oil Taq Taq to Khurmala pipeline complete, operational in 2Q 2013 Initial…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx TAQ TAQ DEVELOPMENT ON TRACK Update Strong prevailing domestic demand and pricing Average Production Production Capacity…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx TAWKE UPDATE Update 45,000 bopd gross production in 2012 Current domestic sales at 65-70/bbl Production capacity successfully…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx MIRAN APPRAISAL PROGRAMME Miran West - Oil Mean recoverable contingent and risked prospective resources 90mmbbls (RPS, November…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx MIRAN GAS FULL FIELD DEVELOPMENT Petrofac FEED work to complete 2Q 2013 Negotiation for a Gas Sales Agreement between Turkey…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx BINA BAWI APPRAISAL PROGRAMME Bina Bawi 4: spudded June 2012; testing programme underway; results 2Q 2013 Testing Jurassic,…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx BINA BAWI FIELD DEVELOPMENT PROGRAMME Extended Well Test Production commenced late March 2013 from BB 3 Initial Capacity is…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx OUR EXPLORATION STRATEGY Kurdistan Region of Iraq (KRI) 4 high impact wells to be drilled in 2013 Material prospects remain: Taq…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx KRI EXPLORATION SIGNIFICANT REMAINING EXPLORATION POTENTIAL TURKEY Tawke Deep 25% WI SYRIA (200mmbbls, 36% POS) T-17 results 2Q…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx CHIA SURKH SIGNIFICANT NEW OIL DISCOVERY Chia Surkh 10 drilled to 1,696 metres in Oligo-Miocene Flowed up to 11,950 bopd of…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx TAWKE DEEP N Tawke 17 (Deep) S W Tawke 17 (Deep) E Dip Section Strike section Top Jeribe Mocene Top Eocene Proven OWC…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx TAQ TAQ DEEP SW Taq Taq 22 (Deep) NE Top Cretaceous Top TopJurassic Jurassic Top TopTriassic Triassic Taq Taq…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx MIRAN DEEP EXPLORATION POTENTIAL Line A SE Line A Near Top NW Permian Map Existing Miran gas field Jurassic Near…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx AFRICA EXPLORATION DRILLING TO COMMENCE IN 2013 Offshore S. Malta: Sirte Basn Libya Analogues NW Africa: Jurassic Carbonate Area…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx MOROCCO - GENEL FOCUS Geologically attractive - proven Jurassic petroleum system containing the Cap Juby discovery Carbonate…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx MOROCCO DRILLING TO COMMENCE 2H 2013 Juby Maritime Block (37.5%, Cairn operator) Cap Juby Contains Cap Juby oil discovery drilled…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx MALTA AREA 4 Total estimated gross prospective resources 800mmbbls Seismic line through the Hagar Qim prospect Hagar Qim-1…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx SOMALILAND SIGNIFICANT OPERATIONAL PROGRESS Free Air Gravity (Preliminary Dataset) Odewayne SL10B/13…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx COTE DIVOIRE LICENCE INTERESTS Proven petroleum systems targeting three main plays: Submarine fans: 150-500mmbbls Albian tilted…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx RIG SECURED FOR OFFSHORE PROGRAMME Contract in advanced negotiation for deepwater semi-submersible rig 10 well drilling…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx EXPLORATION WORK PROGRAMME Gross Gross Net Net Unrisked Unrisked Unrisked Unrisked Prospective Assets W.I. Country Prospective…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx PRODUCTION AND SALES Net Genel Production (kbopd) Net Genel Revenues (m) 300 400m 80 kbopd Expected Capacity 333 55…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx CAPEX 2012 Capex Split Including: 74m KRI development at Taq Taq and Tawke 2nd CPF at Taq Taq 143m KRI exploration/appraisal…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx BUILDING A MAJOR E&P COMPANY PHASES OF FUTURE GROWTH 500 High impact African exploration Material positions in highly…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx 2013 AN EXCITING YEAR AHEAD Q1 Q2 Q3 Q4 Turkey and KRG Energy Cooperation Agreement Politics and Direct exports by truck…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx Appendix 36
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx EXECUTIVE MANAGEMENT TEAM ACROSS LONDON AND ANKARA Tony Hayward Group CEO of BP from 2007 to 2010 John Hurst Founder of Barrus…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx GENEL ENERGY NON-EXECUTIVE DIRECTORS Rodney Former positions include Chairman of Petrofac, U.S. Ambassador to Turkey from 1997 to…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx GENEL ENERGY RESERVES AND RESOURCES Gross Resource Net Resource Unrisked Working Unrisked Risked 2P 3P 2C Prospective Interest 2P…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx KURDISTAN REGION OF IRAQ PSC TERMS Taq Taq Tawke Miran Dohuk Ber Bahr Chia Surkh Bina Bawi Genel Paying Interest 55% 25% 38.25%1…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx KURDISTAN PSC PRODUCTION SHARING Contractor Interest (80%) Production & Revenue Production Government Interest (20%) Gross…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx COST OIL 40-55% of Net Production (Gross Production minus Royalty) is available for Contractors to recover costs. Unrecovered…
GENELCSPresentations120223_Capital Markets Day12 Capital Markets Day Presentation (EM 20120213).pptx PROFIT OIL Contractors share of Profit Oil is determined by an R-factor formula Re-set every 6 months = R-facor < 1 30%…