TSX:PRE BVC: PREC Where Great Ideas Become Reality May 2010
Corporate history 2007 2008 2009 - Present Merger of Pacific Stratus Energy and Petro Pacific Rubiales Energy Petro Rubiales acquires Rubiales Energy Corp. operating as a fully Rubiales Holdings and integrated company with…
A history of continuous growth since 2007 now the leading independent E&P company in South America Operated oil production bopd (2009) (1) Leading South American E&P company Fastest growing producer in Colombia 2nd largest producer…
Current asset base Strong 2P reserves 2P reserves of 280.6 mmboe (1) (2) Current production of 140,190 boe/d (gross operated) and 56,766 boe/d (net of working interest and royalties) A total of 32 blocks approximately 13 million…
Current assets strong production base Core asset: Rubiales and Quifa fields (heavy oil) Currently producing 123,064 bbl/d gross, 43,920 bbl/d net Expected to reach 200,000 bbl/d (gross) by end 2010 La Creciente producing field…
2010 capital program goal: double net production Fully financed US858 million capital program to: Increase gross production to 225,000 boepd (exit 2010) and double net production from 46,000 92,000 boepd Production Facilities:…
Rubiales field: main producing asset and key to the Llanos Significant STOIIP 4.2 bnbbl (1) Grown from 2.7 bnbbl through technical work Rubiales (40% WI) and Piriri (50% WI) contracts expire at the end of May 2016 Pacific Rubiales…
ODL pipeline: pathway to the future ODL pipeline secures access for Rubiales/Quifa oil Only infrastructure in place in southern Llanos Basin a key heavy oil basin in Colombia ODL is a Special Purpose Vehicle owned by Ecopetrol (65%)…
Significant value from STAR(1) pilot project Pump Air Compressor Producer Producer Injector Top of the Oil Gases Reservoir Displaced (N2+CO2+CO) PRE Unique PRE Unique Concept Concept Aquifer Air Zone Air and Combustion Coke…
La Creciente: gas in place to support substantial development Significant production potential at low cost H F 5 wells drilled with potential to produce over 120 LC-D1Field LC-A2 DW D mmcf/d LC-A3 St1 LC-A1 Field A Current…
Major oil and gas prospects Large identified prospect base Over 2.8 bnbbl (1) of oil resource 1.5 tcf (1) of gas resource Current inventory of 1,400 seismic lines Capital budget for exploration 2010 budget of US236.4 million…
Exploration priorities for 2010: focus on Quifa Successful drilling campaign in 2009 & 2010 Abanico 20: well successfully tested 900 bbl/d of medium grade crude in Q2 2009. Successful appraisal well (ABA-34 and 35) in the northern…
Summary financial forecast(1) In US millions 2009 2010 E 2011 E 2012 E WTI / bbl 62 65 70 70 Net Production (boe/d) (yr average) 35,374 68,988 95,148 101,206 Revenue 639 1,541 2,213 2,621 EBITDA 275 749 1,328 1,518 Net…
Share price performance YTD (TSX/BVC) 12.000 Volume ('000) 28,00 Dec 18: PRE Share Price - Close Lists on BVC Oct 22: Reaches 24,00 10.000 production milestone Feb 24: PRE publishes of 100,000 boepd Reserves statement Jun 11:…
Capital structure US450 million in senior unsecured notes Offered in November 2009, due 2016 Rate of 8.75% for net proceeds of US442 million Use of proceeds: repay the full US250 million RBL debt facility; capital expansion program…
A world class E&P company with demonstrated success Largest resource base of any independent South American producer 280.6 mmboe of 2P reserves (net working interest, gross of royalties) as of December 2009 2nd largest producer in…
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