www.martresources.com www.martresources.com MART RESOURCES: 2014 Annual Results Derrick Armstrong (Director & Chairman) and Dmitri Tsvetkov (Interim CEO, CFO & Director) Investor Conference Call, April 1, 2015 1
www.martresources.com 2014 Financial Results Summary USD million (unless otherwise stated) 2014 2013 Change Petroleum sales (1) 194.3 136.0 +42.9% Funds ow from connuing producon operaons (2) 154.2 101.3 +52.2% Net income from…
www.martresources.com 2014 Financial Review 2014 petroleum sales after royalties, content development levy and community development costs were 194.3 million (Q414: 50.0 million) (2013: 136.0 million (Q413: 37.2 million)). During…
www.martresources.com 2014 Financial Review Mart, through its wholly-owned Nigerian subsidiary Mart Umusadege Resources Nigeria Limited, has a 232.5 million term loan facility with Guaranty Trust Bank (GTB) of Nigeria. Subsequent to…
www.martresources.com Year ended December 31, 2014 Netback US 2014 2013 Sales 96.70 110.62 Royales and NDDC (14.39) (17.43) Net sales 82.31 93.19 Producon costs (17.02) (23.81) OperaEng netback per bbl 65.29 69.38 Tax on…
www.martresources.com 2014 Production Operations 2014 2013 Marts share of oil produced and sold net of 2,361,160 1,459,823 pipeline and facility losses (bbls) Marts share of average daily oil produced 6,469 4,000 and sold…
www.martresources.com 2014 Production Operations Review Marts share of Umusadege field oil produced and sold net of pipeline and export facility losses for 2014 was 2,361,160 barrels of oil (bbls) (Q414: 828,347 bbls) compared to…
www.martresources.com 2014 Summary of Oil and Gas Reserves Light and Medium Oil December 31, 2014 December 31, 2013 Reserves Category Gross(1) (3) Net(2) GROSS(1) Net(2) (Mbbl) (Mbbl) (Mbbl) (Mbbl) PROVED Developed Producing…
www.martresources.com Net Present Value (Before Tax) discounted at 10% December 31, 2014 Umusadege (1)(2) ( million USD) Proved Reserves Developed Producing 191 Developed Non-Producing 45 Undeveloped 59 Proved 295…
www.martresources.com Umusadege Field Development Existing Development West Prospect Future Exploration Central & East Development UMU-3STH UMU1, 5 UMU4STH, 12H Marts Work Program Outlook UMU6, 7, 8 UMU9,…
www.martresources.com Contingency Pioneer Tax Status In January 2015, Mart's Co-venturers received a letter from the Nigerian Investment Promotion Commission (NIPC) indicating that the previously awarded Pioneer Status for a…
www.martresources.com 2014 Overview and Outlook 2014 overview During 2014, Mart and its co-venturers drilled and completed a water disposal well, UMU-3 side track horizontal, UMU-4 side track horizontal well and UMU-12 horizontal…
www.martresources.com Outlook 2014 overview (continued) Construction of the Umugini pipeline completed and injection of crude oil into the Trans Forcados crude oil export pipeline commenced in December 2014 . Comple'on of OML…
www.martresources.com Outlook Financing At the beginning of January 2015, Mart drew down 12.5 million under Facility B with GTB (see borrowing section). Subsequent to year end, GTB informed Mart that the amount of Facility D is…
www.martresources.com Outlook Mart enters definitive Arrangement Agreement with Midwestern (continued) The Arrangement is subject to customary conditions for a transaction of this nature, which include court approvals,…
www.martresources.com Outlook Establishment of a Special Committee and Independent Investigation; Appointment of Interim CEO On February 20, 2015, Mart established a Special Committee of the Board of directors to (i) identify,…
www.martresources.com Outlook Establishment of a Special Committee and Independent Investigation; Appointment of Interim CEO (Continued) Effective March 30, 2015, the on-leave CEO took a voluntary leave of absence from the…
www.martresources.com www.martresources.com CONTACT DETAILS : THANK YOU Mr. Dmitri Tsvetkov (Interim CEO,CFO & Director) Email: dmitri.tsvetkovmartresources.com UK Correspondence Office: Unit 5, Chelsea Wharf 15 Lots…
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