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2014 ANNUAL GENERAL MEETING – Circle Oil Plc

Circle Oil Plc · Sep 5, 2014 · 19 slides

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Slides

  1. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 1
    AGM 2014 Dublin September 5th 2014 www.circleoil.net
  2. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 2
    Financial Highlights H1 2014 Group revenue of US47.8 MM up by 13% on H1 2013 Operating profit of US12.3 MM (H1 2013: US16.7 MM) Net profit of US9.4 MM (H1 2013: US14.7 MM) EBITDA of US22.6 MM (H1 2013: US 25.2 MM) Available cash of…
  3. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 3
    Financial Performance: H1 2014 vs H1 2013 (MM)% (MM)% Percentage% %H1%2014% %H1%2013% Change% Group%Revenue%% 47.79% 42.33% 13%% Cost%of%Sales%% 31.37% 23.76% 32%% Gross%Prot%% 16.42% 18.57% E12%% % GP%%% %34%% 44%% %…
  4. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 4
    Operations Morocco Egypt Tunisia Oman 4
  5. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 5
    Morocco - Rharb Basin OVERVIEW MEDITERRANEAN 50Km Sebou 75% (WI) and Oulad Nzala 60% (WI) TANGER SEA Production running at to 6.8-7.0 MMscfd currently Lalla Mimouna Nord&Sud Annualised revenues now US18- 20M per annum…
  6. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 6
    Morocco - Rharb Basin Permits LALLA MIMOUNA PERMITS SEBOU AND OULAD NZALA PERMITS Latest discovery 2nd well Next well 6
  7. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 7
    North West Gemsa, Egypt OVERVIEW NW Gemsa 40% (WI) Operations unaffected throughout the last 12 months Al-Amir SE and Geyad Kareem sands currently producing approx 10,000 bopd (gross) Gas sales now 11 MMscfd+ (gross) plus stripped…
  8. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 8
    Injection & Production AASE Field Water injected into deeper wells replaces and moves oil up to producing wells Maintains reservoir pressure for increased oil recovery Complex interrelated well behaviours with multiple injectors…
  9. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 9
    Tunisia RAS MARMOUR (Onshore) 23% WI Well named Sedouikech-1 Targeting STOOIP 19MMBO* Partner with local Tunisian company who are operator MAHDIA (Offshore) 100% WI 1 well drilled August 2014 Birsa & Ketatna Carbonate reservoirs…
  10. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 10
    Tunisian Permits BENI KHALED AND TAKELSA (Onshore) RAS MARMOUR (Onshore) 23% WI 10
  11. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 11
    Tunisian Offshore Mahdia Permit MAHDIA (Offshore) 100% WI EMD-1 11
  12. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 12
    Mahdia Petroleum System 12
  13. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 13
    EMD-1 Structural sketches W EMD-1 E S EMD-1 N 13
  14. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 14
    El Mediouni 3D Block Diagram s k e t c h 14
  15. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 15
    Oman BLOCK 49 A 2,300 km2 2D seismic programme completed and interpreted. Drilling one well Q4 2014 - Targeting main prospect at about 1900 m with 2800m TD - internal COP estimate of recoverable resources of 14 MMBO* ( mean)…
  16. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 16
    Oman Maps Block 49 and Block 52 BLOCK 52 BLOCK 49 16
  17. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 17
    2013 Highlights 2014 and Beyond Dynamic reservoir modelling Operations in Egypt continue as normal Results of AASE-19 and AASE-21 producers announced Egypt Regular payments received from EGPC AASE-22 completed as injector…
  18. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 18
    2014% 2015% Country% Block% Aug% Sep% Oct% Nov% Dec% Jan% Feb% Mar% Apr% May% Jun% Jul% Aug% Sebou% Morocco% Lalla% Mimouna% Grombalia% Beni% Khaled% Tunisia% Ras% Marmour% Mahdia% Egypt% NW%Gemsa% Block%49%…
  19. 2014 ANNUAL GENERAL MEETING – Circle Oil Plc – slide 19
    Thank you 19

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