CANADIAN OPEN HOUSE EVENTS TORONTO CALGARY VANCOUVER November 3 4, 2014
THE COMBINED COMPANY Malone Mitchell 3rd Chairman & CEO 3
WHY STREAM SHOULD MERGE WITH TRANSATLANTIC Substantial intrinsic value created by merging companies Value driven by reserves and cash flow YE 2013 Reserves1 TAT + SKO P1 33 MMBOE P2 65 MMBOE P1 PV-10 US979 MM P2 PV-10 US1,660 MM…
WHY STREAM SHOULD MERGE WITH TRANSATLANTIC Merger will result in an experienced, diversified oil and gas company Advantages of scale together, expect to grow beyond 10,000 BOEPD much sooner Working with an experienced operator who…
FOCUSED ON ESTABLISHED, UNDEREXPLORED PETROLEUM SYSTEMS TransAtlantic Petroleum (NYSE-MKT: TAT) (TSX: TNP) is an international oil and gas company based in Dallas, Texas Applying proven, North American technology to known…
OPERATING COUNTRIES FISCAL TERMS TURKEY 12.5% royalty, no production tax Pro-business and respect for rule of law Imports 95%+ oil and gas ALBANIA 12% royalty until 100% cost recovery 13-16% royalty and 50% net profit tax…
ADVANTAGES OF COMBINED COMPANY Geographical diversification presence in three countries Geological variation production in several basins Balanced oil and natural gas portfolio Broader base of production will result in less impact…
MANAGEMENT TEAM Name Position Select Experience Founded Riata Energy (renamed SandRidge, NYSE: SD) Malone Mitchell 3rd Chairman & CEO and built it to 1 TCF proved reserves, 43 rigs operated; founded Longfellow Energy; owns 40% of…
OIL ASSETS Lee Muncy VP Geosciences Top Value Generators YE 2014 1. elmo Field, Turkey 2. Molla Area, Turkey 3. Gorisht-Cakran-Ballsh, Albania 4. Idil Prospect, Turkey Expected Top Value Generators 2016 1. Gorisht-Cakran-Ballsh, Albania…
SOUTHEASTERN TURKEY 18 WELLS DRILLED/SPUDDED YEAR-TO-DATE 385,000 net acres (155,804 hectares) in southeast Turkey, area is mostly oil, except Bakuk structure Own 1,417 kms2 (547 miles2) of 3D seismic in southeast Turkey elmo…
SOUTHEASTERN TURKEY TARGETS Multiple pay zones available for vertical and horizontal development elmo field producing zone Gksu field target Gksu: 5,500 ft Bahar: 7,400 ft PALEOZOIC Bahar field target PERMIAN Bahar:…
ELMO FIELD elmo is a case study for TransAtlantics objectives and abilities (100% WI) Large, legacy carbonate reservoir, discovered 1964 (second largest oil field in Turkey) Purchased in 2009 with acquisition of Incremental…
ELMO FIELD - 3D SEISMIC CROSS SECTION US_VK Upper_Sinan US Geophysical team has recently determined how seismic attributes point to oil US_VK Upper_Sinan US locations, giving us the ability to drill in more precise…
ELMO FIELD DEVELOPMENT DRILLING Implemented horizontal drilling for the first time in elmo field in 2013 Targeting undrained Middle Sinan Dolomite (MSD) zone (1,600m/5,250 vert. depth) New wells IP up to 700 BOPD; 30 locations…
ELMO FIELD SECONDARY RECOVERY Commenced secondary recovery in elmo in 2014 Converting four-six wells to injection in 2014 as part of waterflood pilot test Injecting polymer to increase production; initial five wells delivered +250…
MOLLA AREA 3D HIGHLIGHTS PROSPECTS Own 1,124 kms2 (434 miles2) of 3D seismic over the Molla area Gross production is 1,400 BOPD within 4,300 acres (1,740 hectares) Only 2.2 MMBOE of reserves booked on 10 producing wells and 11 PUDs…
MOLLA AREA 3D SEISMIC CROSS SECTION Note the strength of the reflectors for the Bedinan across the prospect areas relative to the non-prospect areas Dada C C 19
ALBANIAN OIL FIELDS Gorisht Field Cakran Field Discovered 1965, 25,000 BOPD peak Discovered 1978, 6,000 BOPD peak 13 16 degree API, 3,000 net acres (1,214 hectares) 14 37 degree API, condensates 53 degree API Currently producing…
ALBANIAN ASSETS HAVE SIGNIFICANT POTENTIAL Oil fields are structurally trapped carbonate reservoirs, like TransAtlantics elmo field, but significantly thicker Properties have lacked North American technology and sufficient…
SUMMARY OF ALBANIA GROWTH PLAN Upgrade oilfield technology to optimize field recovery and increase production levels Drill infill and horizontal oil wells; reactivate wells; initiate waterfloods Optimize wells with recompletions…
ALBANIA OIL GROWTH PLAN In each of the three Albanian oil fields (Gorisht, Cakran, Ballsh) we plan to deepen, core and log two wells in 2015 Will core to the oil-water contact to create a petrophysical model Developing the…
ALBANIA PRECEDENT: BANKERS PETROLEUM Bankers signed a concession for the Patos-Marinza oil field in 2004; grew the asset from 400 BOPD to more than 20,000 BOPD over a ten-year period Development included reactivations, horizontal…
IDIL PROSPECT, SOUTHEASTERN TURKEY Drilling near 1950s Getty well that tested oil; same geology as Kurdish and Syrian fields Two anticlines to West, both expected gas (including Bakuk field, 50% WI) Onshore Petroleum (ex-DNO)…
NATURAL GAS ASSETS James Huling Chief Operating Officer Top Value Generators YE 2014 1. Thrace Basin, Turkey 2. Bakuk Field, Turkey 3. Delvina Field, Albania 4. Koynare Concession, Bulgaria Expected Top Value Generators 2016 1. Delvina…
THRACE BASIN, NORTHWESTERN TURKEY 10 WELLS DRILLED/SPUDDED YEAR-TO-DATE 804,000 net acres (325,367 hectares) in Northwest Turkey, area mostly gas Own 3,548 kms2 (1,370 miles2) of 3D seismic in northwest Turkey Gerler Field…
THRACE BASIN CONVENTIONAL DRILLING NORTHWESTERN TURKEY Shot 234 kms2 (90 miles2) of 3D seismic in the Osmanl area (41.5% WI) in Q4 2013; currently drilling a campaign of conventional, vertical appraisal wells using seismic leads Plan…
THRACE BASIN HORIZONTAL DRILLING NORTHWESTERN TURKEY Horizontal drilling campaign in Tekirda area targeting Mezardere and Teslimkoy formations (41.5% WI) Average IP30: 1.6 MMCFPD HZ well 5: TDR-11H HZ well 2: BTD-4H HZ well 4:…
BAKUK FIELD, SOUTHEASTERN TURKEY Gas discovery on Bakuk block in 2010 (50% WI); Bakuk-1 well tested 10 MMCFPD Built 23 km (14 mi) 6-inch pipeline to the south; limited local gas sales since 2011 30
DELVINA GAS FIELD, ALBANIA One of the largest gas structures in southeast Europe Discovered 1987 Gas condensate, 63 degree API Depth: 2,800 4,000 meters (9,200- 13,100 feet) Four structures, two existing vertical wells,…
DELVINA FIELD GROWTH PLAN Delvina is a proven gas condensate field Will finish drilling the D-34 well and complete it with a multi-stage stimulation Plan to drill one well on an adjacent structure in 2015 Significant gas condensate…
BULGARIA EXPLORATION Own 63 kms2 (24 miles2) of 3D seismic in Bulgaria Deventci-R2 (50% WI) tested 2 MMCFPD with condensate after perforation in early 2014 New Bulgarian government in place Requested approval to acidize the…
MARKET PERFORMANCE TRANSACTION VALUE Dr. Sotiris Kapotas President & CEO, Stream Oil & Gas 34
TAT HAS TRADED IN-LINE WITH PEERS Oils decline over the past three months has adversely impacted the sector TransAtlantics price also impacted by equity offer for Stream will Stream investors hold or sell TAT shares Streams price…
COMBINED VALUE OF RESERVES YE 2013 Reserves TAT + SKO Value of Stream shares in P1 33 MMBOE combined company at P2 65 MMBOE exchange ratio: P1 PV-10 US979 MM P1 = C1.51/share P2 PV-10 US1,660 MM P2 = C2.56/share Shares 41.3 MM…
WHY STREAM SHOULD MERGE WITH TRANSATLANTIC Merger will result in an experienced, diversified oil and gas company Advantages of scale together, expect to grow beyond 10,000 BOEPD much sooner Working with an experienced operator who…
CONTACTS Taylor Beach Matt McCann Director of Investor Relations Gen. Counsel & Corp. Secretary (214) 265-4746 (214) 220-4323 Taylor.Beachtapcor.com www.TransAtlanticPetroleum.com 38
HIGH QUALITY 3D SEISMIC 5,028 kms2 (1,941 miles2) of 3D seismic, all of which has been previously expensed Area kms2 miles2 Northwest Turkey 3,548 1,370 Southeast Turkey 1,417 547 Bulgaria 63 24 Total 5,028 1,941 39
PV-10 RECONCILIATION The PV-10 value of the estimated future net revenue are not intended to represent the current market value of the estimated oil and natural gas reserves we own. Management believes that the presentation of PV-10,…
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