Q1 2013 Financial Highlights Q1 funds flow of 36.0 MM (0.44/share) Q1 net earnings of 24.9 MM (0.26/share) Strong balance sheet with 278 MM of working capital A/R balance of 204.6 million 4
Q1 2013 Balance Sheet MM Long-term debt (17) Convertible debenture (94) (111) Working capital (cash 112.2) 278 Positive working capital (net of long-term debt and convertible debentures) 167 5
Q1 2013 Operating Highlights Production (Bopd) Q1 April West Gharib 12,970 13,798 West Bakr 4,359 4,692 East Ghazalat 338 423 Egypt Total 17,667 18,913 Yemen* 323 310 Production Total 17,990 19,222 * Block S-1 shut in 6
Recent Daily Production 25,000 January 17,144 Bopd 20,000 February 18,085 15,000 Bopd Oil Sales (bopd) March 10,000 18,787 Block 32 Bopd Block S-1 5,000 East Ghazalat April West Bakr 19,222 West Gharib Bopd 0…
Egypt Land Holdings South Mariut East Ghazalat Cairo South Alamein South Ghazalat West GROSS ACRES Gharib/ (expressed in thousands) West Bakr Total Gross Land 2,126 Gulf of Suez NW,SW,SE 40 Gharib South 356 Alamein 335…
West Gharib 100% Working Interest, Operated 2013 plan (18 wells) Drilled 8 wells YTD 7 Oilwells, 1 D&A 2 New pools (lower Nukhul) Commissioned new multi-well battery in the NW corner of East Arta Trucking Hana/Hana West oil to…
West Gharib 100% Working Interest, Operated East Arta lower Nukhul discovery East Arta 90+ feet sand/conglomerate Extends onto NW Gharib block 20 new appraisal/development locations 10-40 MMBbl PIIP* Arta West upper & lower…
West Bakr 100% Working Interest, Operated 2013 plan (15 wells) Drilled 5 wells YTD 5 Oilwells (2K, 2H and 1M) Drilling K Field well targeting the main Asl A pool 148 feet of Asl A net pay on logs Will be cased and completed as…
New Concessions 100% Working Interest, Operated NW Gharib 655 square kilometers (162,000 acres) 79 exploration and appraisal locations identified SW Gharib 195 square kilometers (48,000 acres) SE Gharib 508 square kilometers…
South Alamein 100% Working Interest, Operated 2013 eight well drilling program 2 Appraisal 6 Exploration Prospects Awaiting Military approval for surface access Contingent Resources at December 31, 2012 (millions of barrels…
East Ghazalat 50% Working Interest, Non-Operated Safwa 3 April production 846 Bopd Safwa South 1X (423 Bopd to TransGlobe) 2013 plan 5 wells (4 firm, 1 contingent) 2 development (Safwa 3, Sabbar 2) Safwa 3 oil, moving to…
New Concession 100% Working Interest, Operated S Ghazalat - 1,883 square kilometers (465,000 acres) Company to acquire extensive 3D seismic over area prior to drilling exploration wells 15