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APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd.

Bankers Petroleum Ltd. · Apr 7, 2015 · 26 slides

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Slides

  1. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 1
    April 2015 Corporate Presentation TSX AIM: BNK
  2. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 2
    Company Overview Bankers Petroleum Ltd. is an international E&P company with operational focus in Albania. Stock Exchange Symbol: BNK TSX Toronto AIM London Total Shares 261 Million (285 Million fully diluted) Share Price 3.05 (as…
  3. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 3
    Asset Overview- Albania Patos-Marinza Oilfield Largest onshore oilfield in Europe 100% W.I. and operatorship 191 Million Barrels 2P Reserves Kuova Oilfield 100% W.I. and operatorship 12 Million Barrels 2P Reserves Drilled first…
  4. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 4
    Investment Highlights 203 Million barrels 2P Large Primary Reserves 5.4 Billion barrels OIIP Strong Record of Q1 2015 average production Production Growth 19,767 bopd Robust Pricing 25 cash margin at 50 Brent 2014 yearend…
  5. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 5
    History of Patos-Marinza Patos-Marinza was first discovered by APOC (Anglo Persian Oil Co.) and developed in stages by 1928 1990 Russians and Albanians. 1990 Fall of Communism in Albania AAP (Anglo Albanian Petroleum, a partnership…
  6. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 6
    Patos-Marinza Average Quarterly Production 22,500 20,000 17,500 Horizontal Wells: 434 15,000 12,500 Production (bopd) 10,000 7,500 Vertical Wells: 100 5,000 2,500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
  7. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 7
    Corporate Strategy 2 drilling rigs, 60 new horizontal wells Execute Drilling Operational flexibility to adjust pace of drilling with oil Program prices Optimize treating process and sourcing to reduce Expand Product diluent…
  8. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 8
    Reserves Value / Metrics December 31, 2014 Reserves 125 Mbbls 203 Mbbls Patos-Marinza 122 Mbbls 191 Mbbls Kuova 3 Mbbls 12 Mbbls Reserve Life Index 17 years 27 years Net Present Value 734 1,802 at 10% After Tax (US Millions) Per…
  9. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 9
    Reserves Allocation Depth: 2000 m Core Area 2014 Oil initially in place (OIIP) 1.8 Bbbls Recovery to date 141 MMbbls Recovered by Bankers 37 MMbbls (26%) Remaining booked 166 MMbbls Primary 155 EOR 11 Total Recovery using Primary…
  10. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 10
    Reservoir Characteristics & Development Strategy Composite Type Section Primary Development I Horizontal Drilling & Reactivation of Existing Tertiary Development 510 API Wells Gorani Secondary and Tertiary…
  11. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 11
    2015 Capital Program of 153 M Primary Development and Margin Expansion 125 Million 2 drilling rigs, 60 horizontal wells to be drilled Gathering and flow line systems 1 water disposal well Large programs for electrification, pump…
  12. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 12
    Development Program Historical Drilling Program by Zone 2014 locations in red Gorani Upper Driza 60 primary horizontal wells to be drilled in 2015 579 horizontal wells drilled to the end of Q1 2015 (includes 25 lateral redrills)…
  13. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 13
    Horizontal Well Performance Average Horizontal Well Profile 100 500 Oil Rate 3P Recovery Case 80 2P Recovery Case 400 Producing Well Count Oil Rate (CD, bopd) 1P Recovery Case 60 Well Count 300 40 200 20 100 0 0…
  14. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 14
    Netbacks Netback (/bbl) 2013 2014 Q4 2014 60 Brent 108.66 98.95 76.58 Sales Price 85.39 77.26 57.29 50 (% of Brent) (79%) (78%) (75%) Royalties 14.22 11.39 8.36 40 Transportation 2.44 2.38 2.46 Energy 2.88 2.25 2.21 Well…
  15. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 15
    Cash Margin Equivalent 70.00 Hedge AR Netback S&T OPEX Royalties 60.00 7.61 7.07 50.00 6.52 5.98 5.44 4.89 11.68 4.35 11.64 40.00 11.61 11.57 11.53 /bbl 11.49 7.84 11.46 7.64 7.44 30.00 7.04 7.24 6.84 6.63…
  16. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 16
    2015 Sales Contracts Total cash realization equivalent of 89% Dated Brent Inclusive of domestic and export contracts as well as existing hedge at 60/bbl Brent Export Market 55% of 2015 volumes will be sold to the export market All…
  17. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 17
    Surface Infrastructure Optimization Lease Construction Satellite Treating Well Pad Tie ins, Treating, Testing, Sour Production Facility Handling, Control & Automation Gathering System (Pad D/H, Sat 3) Water Disposal…
  18. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 18
    Cost Structure Improvements Cost Potential Category Q1 2013 Q4 2014 Savings On-going Initiatives Savings (2-3 years) Produce lighter oil 0.50 - Proactive tank turnarounds Diluent 7.12 7.19 -0.07 Optimize workovers 1.00 Optimize…
  19. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 19
    EOR Program 23 EOR patterns in operation at end of 2014, positive results to date 11.3 million barrels 2P Reserves booked in 2014 20 30 projected conversions in 2015 half of planned conversions are expansion to existing patterns,…
  20. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 20
    EOR Well Performance Average Polymer Flood Profile 250 10 9 200 8 7 Oil Rate (bbl/d) Pattern Count 150 6 5 100 4 3 50 2 1 0 0 0 10 20 30 40 50 60 Months On Injection 1P Recovery Case (7%) (6%) 2P Recovery…
  21. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 21
    Strong Balance Sheet LIQUIDITY at December 31, 2014 Working capital of 201 Million; CASH of 73 Million Credit Facilities Facility Utilized Approved Raiffeisen Bank 20 Million 0 Million 20 Million IFC / EBRD 204 Million 104 Million 100…
  22. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 22
    Fiscal Terms Term 25 year term to 2029 with multiple 5 year extensions Royalties Blended average 17% decreasing to 14% over the next 5 years 10% Government Mineral Tax 1% Albpetrol Share of Production ASP 3% after 1x cost recovery…
  23. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 23
    Health, Safety, Environment & Community Relations Environmental Clean-up and remediation Meeting International standards Previous Albpetrol well Economic Health & Safety Health, Safety, Development Creating safe work…
  24. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 24
    Management Team David French Rob Carss President & CEO VP, HSSE Doug Urch Leonidha obo Executive VP Finance VP & General Director & CFO Albania Suneel Gupta Mark Hodgson VP, Business Executive VP & COO Development Bayne…
  25. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 25
    Board of Directors Private investor; over 20 years experience financing companies in the resource sector and is Robert Cross, Chairman on the board of several Canadian energy and mining companies Retired from President and CEO of…
  26. APRIL 2015 CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 26
    Analyst Coverage Christopher Canaccord Genuity M Partners David Buma Brown CIBC Dave Popowich Mackie Research Mark Heim Aaditya Chintalapati Cormark Securities Garett Ursu Pareto Securities & Thomas Aarrestad Credit Suisse David…

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