Board of Directors - Track Record of Managing Value Creation Executive Directors Non-executive Directors Alastair Beardsall Keith Henry Chairman Chairman of Regal Petroleum and Greenko Group, and a non-executive director of KSK…
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 Mistyvale Limited* 15.2% FULLY DILUTED 232.8 million YF Finance…
Summary of 2014 Results 2014 2013 Production 432 bopd 527 bopd Average realised oil price 94.2 / bbl 101.1 / bbl Reserves 292,000 bbl 559,000 bbl Revenue 16.0 million 18.4 million Adjusted EBITDA 5.1million 9.1 million 6…
Cameroon, West Africa - Country Overview Economy (2013)* GDP: 27.88 billion (1,205 per capita) Industry 27.3% Agriculture 20.6% Oil & Gas** - Oil production 63,000 bopd - Proved oil reserves 200 million barrels - Proved gas…
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 8 Drilled 1H 2014 Total depth…
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…
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…
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…
Somaliland (East Africa) Country Overview Economy (2012 estimate)* GDP: 1.4 billion (347 per capita) Oil & Gas Very little exploration to date No production Government 12 Somaliland was a protectorate of the UK until 1960…
Somaliland - Odewayne Basin Overview 13 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…
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…
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…
Madagascar Country Overview Economy (2013)* GDP: 10.53 billion (453 per capita)* Agriculture 27.3% Industry 16.4% Government Elections held in Dec 2013 Hery Rajaonarimampianina elected President for a 5 year term 16 Oil &…
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…
Madagascar Ampasindava Sterling 30%, Exxon 70% and operator Sterling carried by Exxon for US28m future gross costs Large offshore block Area 7,379 km2, water depth 200-2000m 4,300 km 2D seismic acquired and interpreted Sifaka…
Madagascar Ambilobe Sterling 50% (operator), Pura Vida 50% Large under explored offshore block Area 17,650 km2, water depths 0 -2000m 5,500 km 2D seismic acquired and interpreted Leads in Cretaceous & Jurassic plays Forward…
Mauritania Country Overview Economy (2013)* GDP: 4.18 billion (1,189 per capita) Industry 54.6% Agriculture 16.9% Oil & Gas** Oil production 6,750 bopd Proved oil reserves 20 million barrels Proved gas reserves 1 trillion…
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 21 FAN-1 Discovery SNE-1 Discovery…
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…
Mauritania - Production Chinguetti Field Current gross field production of 5,500 bopd Sterling net financial interest in H1 2014 Economic interest via funding agreement Production averaged 432 bopd Net cash inflow for 2014 of…
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)…
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 25 Madagascar - Ampasindava well Madagascar -Ambilobe…
Summary Focusing on high upside exploration programme Ntem (Cameroon) forward plans under review Odewayne (Somaliland) - 2D seismic expected in 2016 (carried by Genel) Ampasindava (Madagascar) - forward plans under review…
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