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FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy

Sterling Energy · Feb 10, 2015 · 24 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. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 1
    Corporate Presentation 1 February 2015 www.sterlingenergyplc.com
  2. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 2
    Overview Targeting High Impact Exploration Africa focused portfolio Significant exploration assets Odewayne (Somaliland) Ntem (Cameroon) Ampasindava & Ambilobe (Madagascar) C-3 (Mauritania) 3 Strong balance sheet Cash of…
  3. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 3
    Board of Directors - Track Record of Managing Value Creation Executive Directors Non-executive Directors Alastair Beardsall Keith Henry Chairman and Interim CEO Chairman of Regal Petroleum and Greenko Group, and a non-executive…
  4. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 4
    Capital Structure Sterling Energy PLC - listed on AIM 2002 Significant Shareholders Shares in issue 220.1 million Waterford 29.9% LTIP (exercise 40p/43p) 12.7 million Soyuzneftegas Capital Limited 15.2% FULLY DILUTED 232.8 million…
  5. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 5
    Cameroon, West Africa - Country Overview Oil & Gas * - Oil production 63,000 bopd - Proved oil reserves 200 million barrels - Proved gas reserves 5 trillion cubic feet Government - Independence in 1960 - Multi-party…
  6. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 6
    Cameroon - Ntem Block Sterling Energy 100% interest, and operator * Ntem - deep water exploration play 3D seismic over 2/3rd of the block Water depth 400 2,000 metres Exploration Well Bamboo -1 7 Drilled 1H 2014 Total…
  7. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 7
    Cameroon Bamboo-1 Result Bamboo -1 results Targeted stratigraphically trapped Upper Cretaceous submarine fans All targets were found to be well developed high porosity sandstones No significant hydrocarbon shows were recorded W E…
  8. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 8
    Cameroon - Exploration Setting Ebome Fields Perenco operated production, principally Block I, O and Yo-Yo from Lower Cretaceous. Miocene discoveries made by KH field is nearest Upper Noble Energy Cretaceous discovery to Ntem…
  9. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 9
    Cameroon & Equatorial Guinea Maritime Border Maritime Border Claim Equatorial Guinea made claims over Cameroons maritime territory; The western and southern boundaries of the Ntem concession potentially affected. Declaration of…
  10. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 10
    Somaliland (East Africa) Country Overview Oil & Gas Very little exploration to date No production Government Somaliland was a protectorate of the UK until 1960 Declared independence from Somalia in 1991; 11 allowed…
  11. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 11
    Somaliland - Odewayne Basin Overview 12 Odewayne block is 22,840 km2 , equivalent to +/- 100 UKCS Blocks Unexplored block with no seismic control and no drilling to date Basin interpreted to be deep enough for Jurassic source…
  12. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 12
    Somaliland Odewayne Block Play Elements Working petroleum system with multiple shows and oil seeps Excellent quality Jurassic source rock seen in outcrop Jurassic and Tertiary clastic reservoirs seen at outcrop Potential for…
  13. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 13
    Somaliland - Odewayne Block Partners Genel (50% and operator) Sterling (40%) Petrosoma (10%) Licence Terms and Commitments Sterling carried by Genel for all costs in Periods 3 & 4 Period 3: May 2012 Nov 2016 Acquire airborne…
  14. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 14
    Madagascar Country Overview Economy GDP (2012): 10.1 billion (451 per capita) Agriculture 29% Industry 16% Government Elections held in Dec 2013 Hery Rajaonarimampianina elected President for a 5 year term 15 Oil & Gas…
  15. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 15
    Madagascar Regional Potential Exploration of East African conjugate margins focused on Jurassic petroleum system Jurassic identified as major source rock Gas discoveries in Tertiary submarine fan and channel sandstone reservoirs…
  16. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 16
    Madagascar Ampasindava Sterling 30%, Exxon 70% and operator Sterling carried by Exxon for US30m future gross costs Large offshore block Area 7,379 km2, water depth 200-2000m 4,300 km 2D seismic acquired and interpreted Sifaka…
  17. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 17
    Madagascar Ambilobe Sterling 50% (operator), Pura Vida 50% Sterling carried by Pura Vida through 3D seismic programme, with gross costs capped at 15 million Large under explored offshore block Area 17,650 km2, water depths 0…
  18. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 18
    Mauritania Country Overview Oil & Gas* Oil production 6,750 bopd Proved oil reserves 20 million barrels Proved gas reserves 1 trillion cubic feet Government Independence in 1960 President Mohamed Ould Abdel Aziz: Held office…
  19. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 19
    Mauritania Regional Activity Block C-3 2D data acquired Q4 2014. Blocks C8, C12 & C13 Extensive coverage now over Recently announced Chevron acreage farmin to Kosmos operated acreage 20 FAN-1 Discovery SNE-1 Discovery…
  20. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 20
    Mauritania Block C-3 Joint Venture Partners Sterling 40.5% * Tullow (Operator) 49.5% SMH 10% (carried by Sterling & Tullow during exploration) Shallow water exploration play Area 9,781 km2, water depth 100m Licence Terms and…
  21. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 21
    Mauritania - Production Chinguetti Field Current gross field production of 6,000 bopd Remaining field life 3 years Sterling net financial interest in H1 2014 Economic interest via funding agreement Production averaged 436 bopd…
  22. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 22
    New Ventures Previous projects Sangaw North 1 (Kurdistan) drilled and tested a potential resource of 804mmboe (gross) at 18m cost to Sterling. Bamboo 1 (Ntem, Cameroon) drilled and tested a potential resource of 450mmboe (gross)…
  23. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 23
    Anticipated Activity Schedule Note: Company estimates 2015 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cameroon - Ntem Force Majeure Somaliland - Odewayne 2D well 24 Madagascar - Ampasindava well Madagascar -Ambilobe…
  24. FEBRUARY 2015 CORPORATE PRESENTATION – Sterling Energy – slide 24
    Summary Focusing on high upside exploration programme Ntem (Cameroon) forward plans under review Odewayne (Somaliland) - 2D seismic in Frontier Exploration Production Interest 2015/16 (carried by Genel) Ampasindava (Madagascar)…

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