Corporate Annual General Meeting 18th June 2014; Vancouver A Lundin Group Company
Political Update 2 Political situation in Iraq deteriorates as Sunni Islamist militants from the north capture two major cities and advance towards Baghdad. Oil and gas operations in Kurdistan have not been affected Kurdistan…
Atrush Block - History of a World Class Oil Discovery 3 Atrush-1: April 2011 Jurassic oil discovery. Atrush-2: 2012 appraisal extends oil column to deeper Jurassic formations and confirms excellent reservoir properties (tested…
Atrush Block - Part of an Accelerated Regional Development 4 FDP( FP1 - Phase 1) approved in Sep 2013. Execution underway. Major contracts for the Atrush field development (Chiya Khere production facilities modules and civil…
Atrush--4: Well Summary Atrush 5 2nd Phase 1 Atrush Development well for the Chiya Khere facilities at initial 4km2/well spacing. Spud October 20, 2013 - Drilling operations: 111 days; Testing operations: 44 days. TD of 2916m…
Atrush--4: Well Test Summary & Update Atrush 6 Well was flowed at various limited rates for short periods using ESP following a specific data gathering program for the purposes of obtaining maximum quality surface samples (for crude…
Overall FDP Philosophy 7 Field development will be implemented using a phased, modular, expandable and value accretive process (Chiya Khere facilities). Development initiated on the West/Central portion of the block leveraging…
Atrush Block Phase 1 Development Summary 8 Modular concept, with provision included to expand and replicate. Capable of handling oil rates of 30,000 bopd, initially. Maximize gas utilization in initial facility. Minimize sour gas…
Atrush Development - Phase 1a Chiya Khere Facility 9 FEED study Completed ITT issued & evaluated Modules/Civils contracts awarded Completion & testing of 2nd producer (AT-4). Drill 3rd & 4th producers. Completion of civil…
Indicative 2014/2015 Atrush Block Well Program (1) 10 Swara Tika-1 Swara Tika-2 AT-2 CK-7 AT-1 AT-3 CK-5 CK-8 AT-4 CK-6 Rig program has been optimized to minimise rig moves and avoid simops/shut-ins during the…
Indicative 2014/2015 Atrush Block Well Program (2) 11 Swara Tika-1 Swara Tika-2 AT-2 CK-7 AT-1 AT-3 CK-5 CK-8 AT-4 CK-6 Revised drilling schedule (new rig subject to contract): CK-6 (Phase 2 appraisal): To be…
Atrush Block YE 2013 PIIP 12 PIIP (MMB Crude Oil)* P90 P50 P10 YE 2012 1843 2686 3999 YE 2013 2469 3016 3796 YOY Change +34% +30% -5% *YE2013 McDaniel & Associates, in accordance with standards set out in the Canadian…
Atrush Block Reserves & Resource Summary 13 ShaMaran has completed the 3D seismic interpretation showing the potential upside: Gross Reserves* (MMBOE) 1P 2P 3P Chiya Khere Footwall: Cretaceous, Jurassic & Triassic YE 2013 (Phase…
Corporate Financial Position 14 Cash Position* May 31, 2014: 110 MM Forecasted Expenditure Jun-Dec 2014: Atrush CAPEX Budget** 49 MM Debt Service / Other Costs 12 MM Total: 61 MM GEPs Bonds were listed on Oslo Brs on…
The Lundin Group 15 Combined Market Cap 13.3 Billion A Lundin Group Company
Corporate Profile 16 SNM Share PRICE : TSX.V Symbol TSX V & NASDAQ OMX First North: SNM Share Capital Issued and outstanding: 810,983,860 shares Fully diluted 819,247,194 shares Market Capitalisation (12th June 2014) CDN…
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