Trinidad Energy Conference Update on Trinidad Activities 27th January 2015 Neil Ritson 1
Company Profile London HQ Spain Trinidad Worldwide Staff - 55 Net Production - over 2,000 bopd 2P Reserves - 7 mmbbls Market Cap - US120 million 2
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…
Trinidad Management Team Country Manager Alex Almandoz Highly experienced drilling and workover operator. Managing Director od Altech Services since 1994, operating 5 workover rigs with capability to 8,000 feet. Perviously Operations…
LGOs Trinidad Assets Three areas in the prime hydrocarbon play zone: Goudron IPSC (100%) with 2P reserves of 7.2 mmbbls and over 60 mmbbls of contingent resources associated with a future water flood. Active production growth from…
Goudron Field Overview Goudron is located in Guayaguayare 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 154 wells…
Phase 1: Infrastructure Located in the remote primary forests of the Trinity Hills Wildlife Sanctuary Limited work undertaken over last 30 years SITE ROADS LGO has: Increased sales tank capacity 8-fold Refurbished previous tank…
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 Today 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…
Primary Production Forecast bopd Primary Production Forecast (P90) 3,500 Likely to be increased 3,000 2,500 2,000 1,500 1,000 500 - 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028…
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 Build two more drilling pads (4 and 5) 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…
Cedros Peninsula 14
What is special about Cedros Largely unexplored at Installing new well tanks depth Accessible terrain Re-migrated light oil at shallow depth One deep well (FRM-1) found oil Parallel trend to the Soldado field complex Oil is…
Exploring the Cedros In addition to Icacos (50%), LGO Installing new well tanks holds 100% rights to over 7,500 acres of underexplored leases Evaluating all existing seismic data, including 3D, and all wells Acquired a…
Airborne FTG Survey Survey over 5,700 km sq. being flown by ARKeX Limited Installing new well tanks (arkex.co.uk) First use of Full Tensor Gravity Gradiometry in Trinidad Great success with the technique in other areas, such…
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…
Conclusions 19
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 21
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