Company Overview Bankers Petroleum Ltd. is an international E&P company with operational focus in Albania. Stock Exchange Symbol: BNK TSX Toronto AIM London Total Shares 261 Million (281 Million fully diluted) Share Price 6.24 (as of…
Asset Overview- Albania Patos-Marinza Oilfield Largest onshore oilfield in Europe 100% W.I. and operatorship 220 Million Barrels 2P Reserves Kuova Oilfield 100% W.I. and operatorship 12 Million Barrels 2P Reserves Drilling…
Investment Highlights 232 Million barrels 2P Large Primary Reserves 5.4 Billion barrels OIIP Strong Record of Production Q3 2014 average production to date Growth 21,500 bopd Horizontal wells NPV 3.0 Million, Attractive Well…
History of Patos-Marinza Patos-Marinza was first discovered by APOC (Anglo Persian Oil Co.) and developed in stages by 1928 1990 Russians and Albanians. 1990 Fall of Communism in Albania AAP (Anglo Albanian Petroleum, a partnership…
Bankers Development Strategy 22,500 20,000 17,500 15,000 Production (bopd) 12,500 10,000 Pad drilling, 6 rigs Consolidate & optimize 7,500 Sub-surface understanding of cost structure legacy wells (water…
Engineered Momentum 10 15% annual production growth Execute Drilling Expanded to 6 drilling rigs in Q1 2014 Program Drill 150 - 170 horizontal wells in 2014 Optimize treating process and sourcing to reduce diluent costs Expand…
Reservoir Characteristics & Development Strategy Composite Type Section Primary Development I Horizontal Drilling & Reactivation of Existing Tertiary Development 510 API Wells Gorani Secondary and Tertiary…
Reserves Allocation Depth: 2000 m Core Area 2013 Oil initially in place (OIIP) 1.7 Bbbls Recovery to date 131 Mbbls Recovered by Bankers 29.8 Mbbls (23%) Remaining booked 160 Mbbls Total Recovery using Primary Techniques 17%…
Reserves Value / Metrics December 31, 2013 Reserves 147 Mbbls 232 Mbbls Patos-Marinza 144 Mbbls 220 Mbbls Kuova 3 Mbbls 12 Mbbls Reserve Life Index 22 years 35 years Net Present Value 1,216 2,240 at 10% After Tax (Millions) Per Share…
Development Program Historical Drilling Program by Zone 2014 future locations in red Gorani Upper Driza 474 horizontal wells drilled to the end of Q2 2014 (includes 23 lateral redrills) Pad drilling across 15 zones 995 future…
Horizontal Well Performance Average Horizontal Well Profile 120 480 Oil Rate 3P recovery case 100 2P recovery case 400 1P recovery case Well Count Producing Well Count 80 320 Oil Rate (CD, bopd) 60 240 40 160 20…
Water and Polymer Injection Waterflood Implementation 1st Waterflood pattern initiated early Q2 2013 Total of 3 water injection wells and 3 - 5 production wells in the Upper Marinza formation at the end of Q2 2014 Polymer Flood Pilot…
Water & Polymer Flood Patterns Waterflood Upper Marinza Polymer Flood Lower Driza Focus flooding zone Current Patterns 20132015 expansion areas Current Polymer Flood Patterns: Current Water Flood Patterns: D5, D4, D3 Layers…
Illustration Type Curve Early Stage 250 Oil rate plateau for 4-8 months Oil rate peak response (increasing water production Fully Supported Producer rate during period) 200 1 well converted at 12 months ( 50 bopd) Oil Rate…
Water and Polymer Flood Early Stage Results We are strongly encouraged by the results and will continue to expand the water and polymer flood pilots to test additional areas of the field and reservoir zones with 14 conversions in 2014…
The Science Behind Steam 2000 m Core Flood & Simulation Conducting core testing and analysis in the south for integration with mapping to identify thermal expansion areas Future tertiary development would likely require cyclic…
Enhancing the Value of Patos-Marinza Natural Gas for Tertiary Development Block F Bankers elected to progress into Second Exploration Period of license in November 2013; will acquire 3D seismic on the block in 2014 Trans Adriatic…
2014 Capital Program Fully Funded 313 million budget Primary Development 285 Million 6 drilling rigs, 150 170 wells to be drilled in 2014 Drilling, Reactivations Workover and reactivation program and Workovers Water Control…
Strong Balance Sheet LIQUIDITY at June 30, 2014 Working capital of 191 Million; CASH of 55 Million Credit Facilities Facility Utilized Available Raiffeisen Bank 20 Million 0 Million 20 Million IFC / EBRD* 204 Million 104 Million 100…
Fiscal Terms Term 25 year term to 2029 with multiple 5 year extensions Royalties Blended average 17% decreasing to 14% over the next 5 years 10% Government Mineral Tax 1% Albpetrol Share of Production ASP 3% after 1x cost recovery…
Off-take Infrastructure Preliminary approvals underway ARMO Refinery 10,000 bopd refining for 35 km pipeline along the capacity under new management highway connecting the Fier Hub currently offline CTF to the Vlore Port Terminal…
Surface Infrastructure Optimization In-field Trucking Reduce infield Satellite Treating Facility trucking by Addition of Satellite, Water and flow-lining to Sour Treatment Facilities, Well Well Pad treatment facility modular and…
Health, Safety, Environment & Community Relations Environmental Cleanup and remediation Meeting International standards Previous Albpetrol well Economic Health & Safety Health, Safety, Development Creating safe work…
Management Team David French Rob Carss President & CEO VP, HSSE Doug Urch Leonidha obo Executive VP Finance VP & General Director & CFO Albania Suneel Gupta Mark Hodgson VP, Business Executive VP & COO Development Bayne…
Board of Directors Private investor; over 20 years experience financing companies in the resource sector and is Robert Cross, Chairman on the board of several Canadian energy and mining companies Retired from President and CEO of…
Analyst Coverage Canaccord Genuity Christopher Brown Jennings Capital Mark Heim Industrial Alliance Cormark Securities Garett Ursu Amin Haque Securities Credit Suisse David Phung RBC Capital Markets Al Stanton FirstEnergy Darren…
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