LGOs Recent Growth in Trinidad ACIEP Meeting 15th April 2015, Madrid Neil Ritson 1
Company Profile London HQ Spain Trinidad Worldwide Staff - 55 Net Production Capacity - over 2,000 bopd 2P Reserves - over 7 mmbbls Market Cap - US120 million 2
PLC Board of Directors Chairman Steve Horton Holds a BSc in Mining Engineering and an MBA. He has 35 years experience working in the energy industry including 27 years with BP plc where he held executive roles including worldwide…
LGOs Trinidad Assets COUNTRY OVERVIEW A regional financial centre with a well-regulated and stable financial system English common law based legal system and Parliamentary democracy Well educated workforce with literacy rates of over…
Why Trinidad Proved reserves of over 730 million barrels Annual Production: 81,000 bopd Sixth largest exporter of LNG in the world The southern part of Trinidad is geologically part of the Eastern Venezuela Basin, separated by the…
Trinidads Oil Province 6
Goudron Field Overview Goudron is located in onshore eastern Trinidad and produces light oil (averaging at least 38 oAPI) Discovered in 1927 the field has a long history, but only limited production with less than 5 mmbbls produced…
Phase 1: Infrastructure Located in the remote primary rain forests of the Trinity Hills Wildlife Sanctuary Prior to LGO very limited work undertaken over last 30 years SITE ROADS LGO has: Increased sales tank capacity more than…
Phase 2: Infill Development Drilling Production at Gros Morne level Well 64 Infill locations selected to have Well 188 low risk of finding oil pay based on offset wells Well 664 Where upswept oil is predicted to be…
Drilling Status Drilling to date: Eight new deep wells drilled in 2014, total 28,754 feet drilled Using vastly improved drilling, logging and completion techniques Well GY-670 had an open hole flow rate of 6,000 bopd and was…
Phase 3: Water Flood Local analogue at Beach-Marcelle Field Wealth of local experience in Trinidad Over 60 mmbbls of 3C resources Existing study for 4,000 bopd capacity New scoping studies starting now Collected critical data…
EOR Production Forecast bopd PROVISIONAL Primary and Secondary Production Forecast (P90) bopd 8,000 Primary Production Forecast 3,500 7,000 3,000 6,000 2,500 5,000 2,000 4,000 1,500 3,000 1,000 2,000 500 1,000 - - 2014 2015…
Plans in 2015 Built two more drilling pads Complete the ongoing LR Senergy primary development studies Prepare a new reserves report to reflect the results obtained to date Install a Lease Area Custody Transfer (LACT) meter…
HSE and Community Installing new well tanks LGO has operated successfully in a Spanish National Park for over 6 years Goudron is located on the edge of the Trinity Hills Wildlife Reserve Operations conducted to the highest…
Trinidad Success Factors A successful hydrocarbon basin with mature, but under- Installing new well tanks developed, oil and gas resources Effective, competitive and cost conscious oil service sector Supportive government…
Conclusions 16
Conclusions LGOs Trinidad-focused strategy is paying off. Corporate expertise has been effectively blended with local skills Despite the current depressed oil price LGOs low cost of operation makes production profitable LGO will…
Delivering Growth through the Acquisition of Proven Reserves & Enhancement of Producing Assets London (AIM): LGO www.lgo-energy.com 18
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