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Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. · May 19, 2011 · 26 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 1
    TSX: PRE BVC: PREC Financial and Operational Results FIRST QUARTER 2011 May 19th, 2011 Presenting: Ronald Pantin - CEO Jose Francisco Arata - President Carlos Perez - CFO
  2. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 2
    FIRST QUARTER 2011 BUSINESS ENVIRONMENT 3
  3. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 3
    Bad Weather and Licensing Delays Caused Significant Bottlenecks Heavy Rains associated to La Nia have impacted roads and bridges, not to mention the large human toll. The OCENSA capacity expansion project was delayed, curtailing oil…
  4. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 4
    Prices Continue to Increase, Differentials Have Narrowed and New Markets are Being Opened 150 WTI / B 130 A potential supply shock balances Brent / B 110 signals of economic slowdown in the world economy 90 70 Volatility and…
  5. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 5
    Rubiales and Quifa Fields Have Started to Climb Together 240.000 220.000 Production Record 200.000 225,000 180.000 BOEPD 170,000 KBOPD May 12-13 May 04/11 160.000 30,000 BOPD Quifa 140.000 Dec. 31/10 BOEPD 100,000…
  6. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 6
    Exploration Strategy Designed Around Geological Trends Total Llanos acreage 57 Prospects To evaluate STOOIP of 15,951 MMBoe.* Total PRE acreage 18,723,075 acres (gross) 105 Prospects To evaluate STOOIP of 31,694 MMBoe*…
  7. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 7
    STAR is beginning to Break Ground All necessary equipment is already in the field Construction of the Injection pad has began As Quifa Field becomes successful, Rubiales Field will follow 8
  8. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 8
    Small Scale LNG Will Leverage Natural Gas Potential in Northern Colombia La Creciente Production: 60 mmscfpd Price: 5.31 /mmbtu Q1 2011 Reserves (net proved producing) 450.6 Bcf Dec 31, 2010 in reservoirs A and D. New gas…
  9. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 9
    Pipelines as Netback Levers ODL Pipeline Present Capacity 240,000 bbl/d new impellers and DRA 1st Booster Station July 2011 2nd Booster Station Nov 2011 340,000 bbl/d OBC - 230 km 42 1st phase Araguaney Banada December 2011…
  10. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 10
    FIRST QUARTER 2011 EXPLORATION CAMPAIGN 11
  11. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 11
    EXPLORATION CAMPAIGN In 2011, the Company continued its exploratory activity in Colombia, Peru and Guatemala, with a total of 34 exploratory, appraisal and stratigraphic wells drilled in the Rubiales-Piriri (7), Quifa (15+4), La…
  12. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 12
    EXPLORATION CAMPAIGN QUIFA SOUTH WEST Net Sand Average Porosity Well Prospect Well Tipe (feet) (%) Quifa-052 E Appraisal 13 30 Quifa-037 E Appraisal 8 31 Quifa-039 E Appraisal 11 31 Quifa-081 E Appraisal 21 30 Quifa-036 H…
  13. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 13
    EXPLORATION CAMPAIGN CPE-6 In the CPE-6 Block, the Company continued the exploration drilling campaign and On April drilled the Guairuro-5 and Guairuro-6 stratigraphic wells in the north-eastern and 1st, 2011, and southern border of…
  14. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 14
    EXPLORATION CAMPAIGN ARAUCA Two exploration wells, TORODOI-1X and TORDO-1 X are scheduled to begin drilling in the Arauca block in June-August 2011. ARRENDAJO The Company finished the acquisition and processing of 130 km2 of 3D…
  15. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 15
    EXPLORATION CAMPAIGN DINDAL RIO SECO In the Guaduas field, the Company started drilling the Capira-1X exploratory well, expected to reach TD during June, 2011. TOPOYACO The Company plans to start drilling Prospect D in July, 2011.…
  16. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 16
    EXPLORATION CAMPAIGN PERU Block 138 PERU The Company finished the acquisition of 135 537 km of 2D seismic data. 138 Block 135 The Company is waiting for environmental permits in order to begin 2D seismic data acquisition, which…
  17. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 17
    EXPLORATION DRILLING SCHEDULE Rubiales-Quifa 2011 BLOCK WELL WELL TYPE JANUARY FEBRUAR MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEM DECEMB AMBAR-3 S JASPE-3 S JASPE-2 A NORTH QUIFA ZIRCON-1 S EXPLORATORY (4) E…
  18. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 18
    EXPLORATION DRILLING SCHEDULE Other Blocks WELL 2011 BLOCK WELL TYPE JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER GUAIRURO-5 S GUAIRURO-6 S CPE-6 STRATIGRAPHIC (6) S EXPLORATORY (1) E…
  19. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 19
    FIRST QUARTER 2011 FINANCIAL RESULTS HIGHLIGHTS 20
  20. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 20
    FINANCIAL RESULTS Volumes Sold (MMBOE Vs. Inventory Levels (MMBOE) 1,2 0,7 1,2 Increase in 0,9 0,85 0,8 7,1 7,4 inventory during Q1 5,9 5,8 6 2011 was partially caused by the timing of a 732,934 bbls cargo, complet ed…
  21. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 21
    FINANCIAL RESULTS Key Financial Indicators Millions of US GROSS REVENUE NET INCOME BEFORE NON CASH ITEMS & CASH FLOW & CFPS EBITDA PER SHARE (BASIC) (Basic) +54% +24% +56% 78.4/boe 584 +34% 1.07 48.7/boe 320 64.1/boe…
  22. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 22
    FINANCIAL RESULTS Key Financial Indicators US/boe and Millions of US OIL NETBACK GAS NETBACK COMBINED NETBACK +22% +44% +25% 56/boe 53/boe 46/boe 42/boe 31/boe 21/boe 1Q 2010 1Q 2011 1Q 2010 1Q 2011 1Q 2010 1Q 2011…
  23. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 23
    Investment Profile Follows Increased Activity Capital Expenditures Millions of US 176 3 +117% 56 81 Other projects 41 Development drilling 31 Exploration drilling Production facilities 13 76 37 1Q_2010 1Q_2011…
  24. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 24
    FINANCIAL RESULTS Financial Results Q1 2011 US/boe and Millions of US Actual first quarter 2011 WTI NYMEX (/Bbl) =94.60 a)Heavy rains and delays in the Combined Realized Sales Price =78.36 OCENSA expansion resulted in increased…
  25. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 25
    FINANCIAL RESULTS Financial Results Q1 2011 vs. Q1 2010 Millions of US Q1 - Actual Variation Items 2011 2010 US % Net sales 584 379 205 54% Operating costs 190 128 62 48% Depreciation, depletion and amortization 149 86 63 73%…
  26. Q1 2011 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 26
    WHERE TALENT AND KNOWLEDGE MEET OPPORTUNITY Canada Office Corporate Office Colombia Technical Office 333 Bay Street, Suite 1100 Carrera 11A No. 94 - 45 Calle 95 No. 13 - 35 Toronto, Canada Torre OXO - Piso 9 Bogot D.C., Colombia…

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