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Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation

Transglobe Energy Corporation · Mar 7, 2013 · 23 slides

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Slides

  1. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 1
    Conference Call Q4 & Year-End 2012 Results March 7, 2013
  2. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 2
    Conference Call Q4 & Year-End 2012 Results March 7, 2013
  3. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 3
    Q4 2012 Financial Highlights Funds flow from operations of 46.8 million (0.57/share), 77% increase over Q4 2011 Collections from EGPC amounting to 76.1 million Average oil price received of 98.70/bbl, consistent with Q4 2011 Net…
  4. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 4
    2012 Annual Financial Highlights Production increased to 17,496 Bopd, from an average 12,132 Bopd in 2011 Growth rate of 44% Funds flow from operations increased to 153.5 million from 120 million in 2011 Growth rate of 28% Net…
  5. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 5
    Funds Flow Funds Flow from Operations Funds Flow From Operations (USMM) Per Share (/Share, Diluted) 200 Brent 2.50 Brent * * -110 -110 -100 160 2.00 -100 120 1.50 2.13 80 161 1.00 2.03 153.5 1.60 120 40 1.08 75 0.50…
  6. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 6
    2012 Year-End Balance Sheet Working capital (cash 83.0) 262.2MM Long-term debt (16.9)MM Negative Net Debt 146.6MM (net of long-term debt and convertible debentures) Raised gross proceeds of C97.8 million through a convertible…
  7. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 7
    2012 Reserves D&M Forecast Pricing By Country Reserves Total 2012 Total 2011 Year Over Year Change By Country (MMbbl) (MMbbl) (% ) Total Proved (1P) Egypt 29.8 24.3 22% Yemen 3.0 3.8 -22% Total Proved (1P) 32.8 28.2 16% Total…
  8. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 8
    Reserves Growth P + P Reserves P + P Reserves per Share (MMBbl) (Bbl/Share Diluted) 60 0.7 Yemen Egypt 48.8 0.6 50 44.2 0.5 40 0.4 30.4 30 0.66 24.2 0.3 0.59 20 0.44 0.2 0.38 10 0.1 0 0 2009 2010 2011 2012 2009 2010…
  9. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 9
    Finding and Development Costs Top Tier F&D and recycle Ratios 3 Yr Weighted 2P 2012 2011 2010 Average Netback* 22.08/ Bbl 26.24 / Bbl 20.07 / Bbl 22.85 / Bbl F&D 4.46 / Bbl 7.07 / Bbl 10.90 / Bbl 7.42 / Bbl Recycle Ratio 4.95 3.71 1.84…
  10. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 10
    Production Average Daily Production (Bopd) 25,000 Yemen Egypt 22,500* 20,000 17,496 15,000 12,132 9,960 10,000 8,970 5,000 0 2009 2010 2011 2012 2013E *Forecasted growth of 29% YOY in 2013 11
  11. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 11
    Recent Daily Production 25,000 January 17,144 Bopd 20,000 15,000 February Oil Sales (bopd) 18,085 10,000 Bopd Block 32 Block S-1 5,000 East Ghazalat March West Bakr 18,500 West Gharib Bopd to 0 Mar-12 Apr-12…
  12. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 12
    2013 Guidance Production guidance 21,000 24,000, mid-point of 22,500 Bopd Funds flow guidance of 161 million (2.13/share; US100/Bbl Brent) 178 million (2.36/share; US110/Bbl Brent) Capital exploration and development budget of 129…
  13. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 13
    Egypt Land Holdings South Mariut East Ghazalat Cairo South Alamein South Ghazalat West GROSS ACRES (expressed in thousands) Gulf of Suez Gharib/West Bakr Total Gross Land 2,126 NW,SW,SE 40 Gharib South Alamein 335 356…
  14. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 14
    West Gharib 100% Working Interest, Operated Increased production by over 400% since acquisition in 2007 4 New pool discoveries in 2012 18 appraisal/development locations for the 2013 drilling program Recently began to utilize West…
  15. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 15
    West Bakr 100% Working Interest, Operated Facility synergies with West Gharib are underway to increase sales capacity Pump, waterflood and facility optimization programs Increased production and reserves 15…
  16. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 16
    Eastern Desert Inventory Location Inventory Potential Drilling Locations Concession Appraisal Exploration West Gharib 42 - West Bakr 28 - NW Gharib* 46 33 SW Gharib* - 3 SE Gharib* - 2 Eastern Desert Totals 116 38 * Pending Ratification…
  17. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 17
    East Ghazalat 50% Working Interest, Non-Operated Five wells planned for 2013 2 Safwa appraisal 3 Exploration East Ghazalat 2012 Reserves Summary Q4 production averaged (millions of barrels MMbbl) 1P 2P 3P approximately 982…
  18. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 18
    South Alamein 100% Working Interest, Operated 2013 eight well drilling program 2 Appraisal 6 Exploration Prospects Awaiting Military approval for Contingent Resources at December 31, 2012 (millions of barrels MMbbl) Low Best…
  19. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 19
    South Mariut 60% Working Interest, Operated Al Nahda 1 Spud mid February Mean Gross Prospective Resource volume 20.2 MMBbls* 3rd Exploration well Al Hammam, to spud in March *Numbers based on D&M Prospective Resource…
  20. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 20
    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…
  21. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 21
    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 22
  22. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 22
    Q&A 23
  23. Q4 2012 CONFERENCE CALL – Transglobe Energy Corporation – slide 23
    Conference Call Q4 & Year-End 2012 Results March 7, 2013

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