TRANSGLOBE ENERGY CORPORATE PRESENTATION JANUARY 2015
ABOUT TRANSGLOBE Operations in Egypt began in 2004 Alexandria Currently 98% of production Suez Cairo Proven track record with extensive Middle East experience Extensive and diversified portfolio of development and exploration Egypt…
INVESTMENT HIGHLIGHTS 2.7 Million gross acres of land 2014 Production of 16,100 Bopd 9 Projects in Egypt 2014 Exploration & Development 4 Projects in Yemen 43 Wells 2013 2P Reserves of 45.3 MMBbl 1,000 km2 of 3-D seismic 325 km of 2-D…
SNAPSHOT OPERATIONS 2014 DRILLING PROGRAM Q1 + Q2 + Q3 Production average(Bopd) 16,417 2014 CONCESSION EXPL Total Egypt Production 16,038 APP/DEV Yemen Production 379 West 9 1 10 Gharib Q4 Production (Bopd) 15,183 West Bakr 12 1…
PRODUCTION AND RESERVES 6
FUNDS FLOW AND RESERVES/SHARE * * Forecasted at 82.50 Brent in Q4-2014 7
EGYPT ASSETS: EASTERN DESERT 8
EASTERN DESERT DRILLING HISTORY 2007-2014 40 Current NW Gharib Drilling Totals West Bakr Producing Wells 30 West Gharib Oil Wells 157 West Gharib 77 20 West Bakr 48 D&A Wells 31 10 Total 125 Success Rate 84% 0 2007 2008 2009…
WEST GHARIB: 100% WI - OPERATED 2014 10 wells drilled Waterflood optimization Facility centralization and upgrades Q4 8,434 Bopd Drilled 1 oil well at East Arta 2014 Drilling Results Drilled 10 wells (9 oil, 1 D&A) Arta/East…
WEST BAKR: 100% WI - OPERATED 2014 13 wells drilled H Water flood optimization Facility upgrades and optimization M Q4 K 5,965 Bopd Drilled 4 oil wells 2014 Drilling results: Drilled 13 wells (11 oil, 1 injector, 1 D&A) K…
EASTERN DESERT: 100% WI - OPERATED Executing large seismic program for 2014/15 in NW Gharib Egypt Total program 1,400 km 3-D & 300 km 2-D Eastern Desert 1,000 km 3-D & 300 km 2-D Western Desert 400 km 3-D NW Gharib 3-D…
SE GHARIB: 3-D SEISMIC ACQUISITON 14
EGYPT ASSETS: WESTERN DESERT * *Pending Ratification 15
SOUTH ALAMEIN: 100% WI - OPERATED Acquired in 2012 Future Plan Contingent on Boraq access Boraq 2 tested at 1,700 Bopd* Exploration period Clock stopped 20+ months from access approval Retained 800 km 2 *The primary…
EAST GHAZALAT: 50% WI - NON-OPERATED North Dabaa Dev Lease Safwa Dev Lease Q4 574 Bopd to TG 2014 Drilled 5 wells 3 Safwa oil wells 1 N.Dabaa 2 tested Gas/Condensate well 1 D&A 17
NW SITRA & S. GHAZALAT: 100% WI - OPERATED S. Ghazalat Awarded in 2013 2015 Plan: 3-D seismic 400 km2 3-D seismic planned S. Ghazalat N.W. Sitra* NW Sitra* Awarded in 2014 Waiting on ratification Total 2015 3-D Seismic…
YEMEN: 25% / 13.81% WI 2014 Plan Projects and wells Salsala Exploration Well delayed due to tribal issues Q4 210 Bopd Sales B-32 only Block S-1 (1,500 Bopd to TG) remains shut in since Feb/14 due to labour negotiations with…
TRANSGLOBE ENERGY CORPORATE PRESENTATION JANUARY 2015
EGPC ACCOUNTS RECEIVABLES Total EGPC collections in 2014 were 233.5 million Received payment for 1.5 liftings in Q4 cargo was lifted on October 27th 20 Million Full cargo was lifted on November 18th 37 million Received lump sum…
OIL PRICE SENSITIVITY Q3 2014 YTD PSCs are resilient in a decreasing price environment: Notionally, if Dated Brent had been 80 (Q3 2014) YTD: Funds Flow would have been 68 million, versus 53 Realized Price million or 15 million…
EXECUTIVES AND DIRECTORS Robert G. Jennings - Director, Chairman Ross G. Clarkson - Director, President and CEO Lloyd W. Herrick - Director, VP and COO Geoffrey C. Chase - Director Fred J. Dyment - Director Susan MacKenzie Director…
ANALYST COVERAGE Christopher Brown, Canaccord Genuity, Calgary, Canada David Phung, Credit Suisse Securities, Calgary, Canada Victor Vallance, Edgecrest Capital, Toronto, Canada Peter Lynch, Edison Investment Research Ltd., London,…
CONCESSION SUMMARY Working Concession Size (acres) Year Concession First Production Q3 2014 Concession Interest Gross Net Acquired Type Date Sales West Gharib 100% 28,904 28,904 2007 Development January 2000 9,092 NW Gharib 100%…