Company Overview Bankers Petroleum Ltd. is an international E&P company with operational focus in Albania. Stock Exchange Symbol: BNK TSX Toronto AIM London Total Shares 258 Million (281 Million fully diluted) Share Price 6.11 (as of May…
Asset Overview Albania Patos-Marinza Oilfield Largest onshore oilfield in Europe 100% W.I. and operatorship 220 Million Barrels 2P Reserves Kuova Oilfield 100% W.I. and operatorship 12 Million Barrels 2P Reserves Drilling first…
Investment Highlights 232 Million barrels 2P Large Primary Reserves 5.4 Billion barrels OIIP Strong Record of Production Q2 2014 average production to date Growth 20,150 bopd Horizontal wells NPV 3.0 Million, Attractive Well…
History of Patos-Marinza Patos-Marinza was first discovered by APOC (Anglo Persian Oil Co.) and developed in stages by 1928 1990 Russians and Albanians. 1990 Fall of Communism in Albania AAP (Anglo Albanian Petroleum, a partnership…
Patos-Marinza Average Quarterly Production 22,000 20,000 18,000 16,000 Horizontal Wells Production (bopd) 14,000 12,000 10,000 8,000 6,000 Vertical Wells 4,000 2,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
Bankers Development Strategy 22,000 20,000 18,000 16,000 14,000 Production (bopd) 12,000 10,000 Pad drilling, 6 rigs Consolidate & optimize 8,000 cost structure Sub-surface understanding of Modernize surface…
Engineered Momentum 10 15% annual production growth Execute Drilling Expanded to 6 drilling rigs in Q1 2014 Program Drill 150 - 170 horizontal wells in 2014 Optimize treating process and sourcing to reduce diluent costs Expand…
Reservoir Characteristics & Development Strategy Composite Type Section Primary Development I Hz Drilling & Reactivation of Existing Wells Tertiary Development 510 API Secondary and Tertiary Development Gorani Reduced…
Reserves Allocation Depth: 2000 m Core Area 2013 Oil initially in place (OIIP) 1.7 Bbbls Recovery to date 131 Mbbls Recovered by Bankers 29.8 Mbbls (23%) Remaining booked 160 Mbbls Total Recovery using Primary Techniques 17%…
Reserves Value / Metrics December 31, 2013 Reserves 147 Mbbls 232 Mbbls Patos-Marinza 144 Mbbls 220 Mbbls Kuova 3 Mbbls 12 Mbbls Reserve Life Index 22 years 35 years Net Present Value 1,216 2,240 at 10% After Tax (Millions) Per…
Development Program Historical Drilling Program by Zone 2014 future locations in red Gorani Upper Driza 435 horizontal wells drilled to the end of Q1 2014 (includes 20 lateral redrills) Increased recovery with PCP Pump Pad…
Horizontal Well Performance Average Horizontal Well Profile 120 480 Oil Rate 3P recovery case 2P recovery case 100 400 1P recovery case Well Count Producing Well Count Oil Rate (CD, bpd) 80 320 60 240 40 160 20…
Water and Polymer Injection Waterflood Implementation 1st Waterflood pattern initiated early Q2 2013 Total of 3 water injection wells and 3 - 5 production wells in the Upper Marinza formation at the end of Q1 2014 Polymer Flood Pilot…
Comparable Field Characteristics Analogous Fields in Canada Polymer Flood PatosMarinza Reservoir Parameters Criteria Pelican (Cenovus) Seal (Murphy) (Floodable Area) Current Oil Saturation 70% 70 75 69 74 Depth < 2,750 m 300 450 625 800…
Water & Polymer Flood Patterns Waterflood - Upper Marinza Polymer Flood - Lower Driza Focus flooding zone Current Patterns 2013-2015 expansion areas Current Water Flood Patterns: Current Polymer Flood Patterns: M0 Layer D5, D4,…
The Science Behind Steam 2000 m Core Flood & Simulation Conducting core testing and analysis in the south for integration with mapping to identify thermal expansion areas Future tertiary development would likely require cyclic…
Enhancing the Value of Patos-Marinza Natural Gas for Tertiary Development Block F Bankers elected to progress into Second Exploration Period of license in November 2013, will acquire 3D seismic on the block in 2014 Trans Adriatic…
2014 Capital Program Fully Funded 313 million budget Primary Development 285 Million 6 drilling rigs, 150 170 wells to be drilled in 2014 Workover and reactivation program Drilling, Reactivations Gathering and flow line systems and…
Strong Balance Sheet LIQUIDITY at March 31, 2014 Working capital of 160 Million; CASH of 56 Million Credit Facilities Facility Utilized Available Raiffeisen Bank 20 Million 0 Million 20 Million IFC / EBRD* 205 Million 105 Million 100…
Attractive Fiscal Terms Term 25 year term to 2029 with multiple 5 year extensions Royalties Blended average 17% decreasing to 14% over the next 5 years 10% Government Mineral Tax 1% Albpetrol Share of Production ASP 3% after 1x cost…
Off-take Infrastructure ARMO Refinery 10,000 bopd refining capacity Preliminary approvals under new underway for 35 km pipeline management currently offline along the highway connecting the Fier Hub to the Vlore Port CTF…
PIA Port Expansion Current Capacity Italian owned port, Petrolifera Current Depth 8 m draft Draft limitation allows for 20,000 MT cargos Smaller end of Mediterranean fleet 8 m Draft Patos-Marinza crude sold at 81% Brent Traders…
Surface Infrastructure Optimization In-field Trucking Reduce infield Satellite Treating Facility trucking by Addition of Satellite, Water and flow-lining to Sour Treatment Facilities, Well Well Pad treatment facility modular and…
Health, Safety, Environment & Community Relations Environmental Clean-up and remediation Meeting International standards Economic Health & Safety Health, Safety, Development Previous Albpetrol well Creating safe work…
Management Team David French Rob Carss President & CEO VP, HSSE Doug Urch Leonidha obo Executive VP Finance VP & General Director & CFO Albania Suneel Gupta Mark Hodgson VP, Business Executive VP & COO Development Bayne…
Board of Directors Private investor; over 20 years experience financing companies in the resource sector Robert Cross, Chairman and is on the board of several Canadian energy and mining companies Retired from President and CEO of…
Analyst Coverage Canaccord Genuity Christopher Brown Jennings Capital Mark Heim Cormark Securities Garett Ursu Macquarie Capital David Popowich Credit Suisse David Phung MGI Securities Amin Haque Dundee Securities David Dudlyke RBC…
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