Corporate Presentation January 2015 Chiya Khere (viewed from the south) A Lundin Group Company
Strategy 3 Return value to shareholders Atrush first oil Q4 2015 Work closely with TAQA as our partner Funded through rights issue Realise value through further full field development To be funded from production Diversify to…
Security situation in Kurdistan improving 4 KRG-Baghdad Agreement in December 2014: Atrush KRG to receive the 17% of revenues from the Iraq national budget, including all back dues Kurdistan and 50% of Peshmerga salaries. KRG…
Atrush World Class Large Oil Discovery 5 Discovered in 2011 Jurassic fractured carbonate Resources (30 November 2014) MMBoe 1P 2P 3P Gross Reserves 31.2 61.5 121.0 Gross Contingent 186 314 489 Partners Shamaran (20.1%)…
Atrush close to export pipeline 6 A Lundin Group Company
Atrush Block well defined from existing wells 7 A Lundin Group Company
Atrush test results prove excellent productivity 8 7 wells drilled, 5 wells tested: Confirming 3 main reservoir zones Oil gets heavier with depth 27o API down to 14o API Rates up to 16000 bopd per test depending on: Reservoir…
Atrush Phase 1 development well advanced 9 FDP Phase 1 approved in October 2013. Phase 1 Phase 1 starts development of Phase 2 western part of the field. Chiya Khere Central Processing Facilities to handle 30,000 bfpd under…
Chiya Khere Facilities Site: Civil Engineering 10 Civil construction at Chiya Khere (Phase 1 facilities) September 2014. (Photo: TAQA) Major civil engineering project. Four terraces cut into the north side of the Chiya Khere…
Chiya Khere Phase 1 Facilities 11 Modular concept with provisions to expand and replicate. Capable of handling liquid rates of 30,000 bfpd, initially. Maximize gas utilization. Minimize sour gas flaring with provisions for future…
Work ongoing to realise full value 12 Ongoing Appraisal in east: CK-6 well finished AT-3 re-test finished, interpretation ongoing CK-7 planned to be drilled second half 2015 Phase 2 FDP: Planned for second half 2015…
Clear development funding strategy 13 Rights issue provides sufficient funding to first oil Works remaining to get to first oil Procurement substantially completed Civil works substantially completed Delivery of equipment…
Cash from Rights Offering 14 CAD 75 million gross proceeds to be raised. Major shareholders (Lundin Family, LUPE) backing Rights Offering. Rights trading on TSX.V (SNM.RT) & Nasdaq OMX First North (SNM TR). Exercise price : CAD…
Corporate Profile 15 SNM Share price on TSX.V Share Capital Issued and outstanding: 810,983,860 shares* Fully diluted 843,138,860 shares *Projected at 1,565,198,850 following close of rights offering mid Feb 2015. Market…
The Lundin Group 16 Combined Market Cap 11.9 Billion Oil Exploration Oil Production Mining Exploration Mining Production Other A Lundin Group Company
Key Points 17 Robust phased Atrush development project World class resource base: Gross 2P 61.5 MMBoe Gross 2C 314 MMboe Improved relations between Baghdad and KRG Secure export route Rights Issue used to fund Phase 1 First…
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