2014: A Year of Delivery for SOCO TGT development programme continues with eight wells drilled in 2014 H5 development ahead of September/October 2015 first oil schedule Production performance of 13.6 KBOEPD (slightly below…
Partner Reaction to Oil Price and Uncertainty Dramatic oil price drop and increased uncertainty has caused SOCOs partners to take a significantly more conservative approach to future spend and activity 2015 production target below…
Reserves in the New Oil Price Environment (4) MMboe TGT CNV Congo Group SOCO WI Oil and Gas 2P Commercial Reserves (1)(2)(3) 1 January 2014 87.5 29.8 12.8 130.1 Production (4.2) (0.8) - (5.0) 2P Reserves, 31/12/2014 (pre revision…
TGT Reserves and Resources Reclassification Figures in MMbbl / MMboe P90 P50 P10 Stock Tank Oil Initially In Place 498 759 1,052 SOCO 2014 year end reserves and resources TGT Field Gross assessment grounded in ERCE Model and 1P 2P 3P…
TGT Production Profiles Underpinning Reserves and Contingent Resources 100 kbopd 90 kbopd ERC Equipoise has been engaged building a TGT field wide model 80 kbopd incorporating all data 70 kbopd Extensive process (over the last…
TGT Future Development Options Option: Install WWP and modify FPSO Option: Install CPP and replace FPSO with FSO SOCO considering a range of options to accelerate production ramp-up currently constrained by facilities…
Africa: Focusing on High Impact Options Licence Status LXM-101 discovery with unitisation progressing Marine XI Reprocessing seismic across the block Evaluating Lideka East appraisal options Well moved to H1 2016 Mer Profonde…
Africa: Congo Republic Marine XI LXM-101 Well (Lidongo LXM-101 Discovery) Well (Lidongo Discovery) Potential extension of pre-salt Litchendjili field (Eni) announced to have c.1.2bn boe in place Well spudded in August and…
Africa: Congo Republic Mer Profonde Sud (MPS) SOCO operator of MPS Various leads and prospects identified ranging 50-300 mmbo Offsets fields of 200 mmbo recoverable Engaged in drillsite determination G&G effort Moho-…
2014 Financial Summary Income Statement Items US millions, unless otherwise stated 2014 2013 Commentary 2014 production of 13,605 BOEPD vs. 2013 production of Sales revenue 448.2 608.1 16,694 BOEPD Oil price realised (/bbl)…
2014 Financial Summary Cash Flow Items US millions, unless otherwise stated 2014 2013 Commentary Operating cash flow before working 344.4 472.0 capital, interest and tax Change in working capital 37.6 3.3 2014 includes positive…
SOCO Robust in Challenging Environment Strong balance sheet 166 million cash at year end 2014 Debt free Substantial cash generative production and attractive economics Vietnam assets with operating cash flow break even in low…
2015 Outlook Production outlook for 2015 at 10.5-12.0 KBOEPD reflects only firm wells and conservative initial flow rates on H5 Focus on delivering TGT H5 on time Ongoing work on revised TGT RAR, FDP and ERCE reservoir modelling…
Appendix March 2015 17
2014 Production Detail 20142014 20132013 GROSS BASIS TGT production 38,462 48,876 Oil (BOPD) 34,875 44,406 Gas (BOEPD) 3,587 4,470 NET BASIS TGT production 11,538 14,635 Oil (BOPD) 10,464 13,301 Gas (BOEPD) 1,074 1,334 CNV…
SOCO International plc 48 Dover Street London W1S 4FF United Kingdom Tel: 020 7747 2000 Fax: 020 7747 2001 Registered No: 3300821 www.socointernational.com March 2015 19
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