Preface This presentation, which is confidential and is being supplied in the United Kingdom only to persons with professional experience in matters relating to investments for the purposes of the Financial Services and Markets Act…
2012 Operational Highlights Consolidated the Groups interests in South East Asia portfolio with the 95m acquisition of the outstanding 20% interest in SOCO Vietnam Ltd Record Group net entitlement production volumes of 15,500…
2012 Financial Highlights (from continuing operations) Record revenue of 621.6m (2011: 234.1m), a rise of 166% 134% increase in after tax profits from continuing operations to 207.0m (2011: 88.6m) 271% increase in operating cash…
2012 Financial Summary (audited) (from continuing operations, US million, unless otherwise indicated) 2012 2011 Sales revenue 621.6 234.1 Net Entitlement Production 15,500 boepd vs 6,700 boepd Cash, Equivalents & Liquid Invest 307.6…
VietnamCuu Long Basin Blocks Acquired 20% non- controlling interest in SOCO Vietnam for 95 million TGT is largest development project in Companys history; H4-WHP brought on- stream one month early, but one year TGT 30.5% WI…
CNV Field Fractured granitic Basement field Producing at steady ca. 8,000 boepd Finalising calibration of additional separation and metering facilities Additional production well planned for 2013 expected to add ca. 3-…
Te Giac Trang Field Layout FPSOTGT 1 H1WHP FPSO Storage Capacity: 4 x 10 Multiphase Pipelines 620,000 BBLS 10 Water Injection Pipeline Processing Capacities: 8 Gaslift Pipeline Crude oil rate 55,000 BOPD Produced water rate…
TGT 2013 Well Locations TGT-17P H1 WI/Appraisal H3 Appraisal H2 South Appraisal H5 Appraisal 11
Preparation for 2014 Well Campaign 2014 initial well locations: WI in H.1.1/H1.2 Block WI in H4 Block TGT-H2S App or H2 2nd Dev 12
Independent Confirmation of TGT Resources Range (low to high case) STOIIP (mmstb) 470 960 1 Recoverable Gas (mmboe) 15 30 Future activities will significantly de-risk high case Additional 10 infield and step out wells (e.g.…
Supporting Higher TGT Recovery Factors Range (low to high case) Independent Estimate 28% 35% SOCO Estimate 32% 50% Reservoir quality and reservoir geometry in TGTs individual sands supports SOCO recovery factor estimates:…
West to East Cross Section TGT3P TGT16P TGT2X TGT7P TGT1P TGT15P TGT5P TGT2P West East Water Cut 60% 30% 0% 35% 5.2 Upper Aquifer Support 5.2 Lower Olig-C TGTH15P TGTH11P TGTH12P TGTH116P TGTH13P TGTH115P TGT2X…
TGT Activities to deliver Performance Complete FPSO sustained capacity test (beyond 55,000 bopd) Calibrate process simulation model for early debottlenecking Enhance production management techniques Focus on individual sand…
Central African Portfolio 17
North Congo BasinCurrent Portfolio 100% WI Added Nanga II A block and commencing seismic reprocessing 40.39% WI Preparing to drill Lideka East on Marine XI in 2H13 Have a non- refundable deposit 17% WI to sell Cabinda to…
Cabinda North Selling entire equity in two stage disposal deal Initial non-refundable deposit received Expect completion by end March 19
Marine XILideka East + Prospects and Discoveries Estimated mean predrill recoverable resources c. 70 mmbbl in primary target Sendji formation COS 40% Estimated mean upside recoverable resources c. 60 mmbbl in secondary…
Nganzi Block Ongoing seismic depth reprocessing of two vintages of 2D time seismic to validate existing Leads and Prospects Obtained 6 month PSC extension Drill or Drop decision to be made by September 2013. If drill, then…
Block V Activity Completed detailed environmental study together with relevant DRC authorities Activity suspended during M23 insurgency With Peace Accord signature, targeted to resume Aeromag acquisition in May-June Block V…
Drilling Schedule & Potential Reserve Implication 2013 Potential March April May June July August Sept Oct Nov Dec Reserves Vietnam 40 80 4 Infield wells +TGTH5 Congo (Brazzaville) 60 130 Lideka East Marine DR Congo…
Conclusion & Outlook 24
Outlook Continued strong cash generation from the Vietnam assets Development drilling on TGT and CNV Appraisal well on the previously undrilled TGT H5 block Sustained capacity test on TGT FPSO pending Exploration drilling on…
Going Forward into 2013 and Beyond Very strong financially and will be generating more cash with stable production of ca. 16,000 boepd. Offers more options in enhancing shareholder value through development of the current portfolio…
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 27
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