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May 2015 Corporate Presentation – Shamaran Petroleum

Shamaran Petroleum · May 22, 2015 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2015 Corporate Presentation – Shamaran Petroleum – slide 1
    Corporate Presentation May 2015 ShaMaran A Lundin Group Company
  2. May 2015 Corporate Presentation – Shamaran Petroleum – slide 2
    Strategy: Return value to shareholders Atrush first oil Ensure first oil as quick as possible Revise schedule to reflect slower than expected progress to date Ensure enough funds until first oil by delaying non first oil related…
  3. May 2015 Corporate Presentation – Shamaran Petroleum – slide 3
    Kurdistan Economic and Political situation KRG exported over 550kbopd in April as per December 2014 agreement Atrush In return KRG should receive 17% of 100 billion Iraq budget 1.4bln/month Kurdistan 3 payments so far; 208mln (Jan…
  4. May 2015 Corporate Presentation – Shamaran Petroleum – slide 4
    Atrush World Class Large Oil Discovery Discovered in 2011 Jurassic fractured carbonate Updated Resource Report (as at 31 December 2014) Largely unchanged from November 2014 MMBoe 1P/C 2P/C 3P/C Gross Reserves 31.2 61.5 121.0…
  5. May 2015 Corporate Presentation – Shamaran Petroleum – slide 5
    Atrush close to export pipeline ShaMaran A Lundin Group Company 6
  6. May 2015 Corporate Presentation – Shamaran Petroleum – slide 6
    Atrush Phase 1 development ongoing FDP Phase 1 approved in October 2013 Phase 1 starts development of Phase 1 western part of the field Central Processing Facilities to Further Phases handle 30,000 bfpd under construction 4…
  7. May 2015 Corporate Presentation – Shamaran Petroleum – slide 7
    Atrush Phase 1 Production Facilities Modular concept with provisions to expand and replicate. Capable of handling liquid rates of 30,000 bfpd, initially. Maximize gas utilization. Minimize sour gas flaring with provisions for…
  8. May 2015 Corporate Presentation – Shamaran Petroleum – slide 8
    Project progressing........ November 2014 April 2015 ShaMaran A Lundin Group Company 9
  9. May 2015 Corporate Presentation – Shamaran Petroleum – slide 9
    ....but slower than expected Additional civil works Significantly more hard rock was blasted than anticipated All foundations now in and being back filled Moved critical underground piping to a different contractor and now…
  10. May 2015 Corporate Presentation – Shamaran Petroleum – slide 10
    Clear way ahead Facilities modules are being shipped Most contracts have been placed Contractors are mobilised Bulk material is arriving on site Well completion and testing ongoing Optimising schedule Storage tank construction…
  11. May 2015 Corporate Presentation – Shamaran Petroleum – slide 11
    Work ongoing to realise full field value Initial eastern appraisal complete CK-6 well tested maximum oil rate of over 6,700 bopd 26.6 API oil AT-3 re-tested maximum oil rate of 4,900 bopd 14 API oil producible using an…
  12. May 2015 Corporate Presentation – Shamaran Petroleum – slide 12
    Ongoing commercial discussions KRG Carry Contractors are carrying the KRG for their 25% share of Atrush Commercial agreement being negotiated KRGs Atrush feeder pipeline In block pipeline section construction ongoing KRG to…
  13. May 2015 Corporate Presentation – Shamaran Petroleum – slide 13
    Funding to get to first oil Rights issue provided sufficient funding to get to first oil in December 2015 Potential delay would reduce 2015 cash requirements Minimal additional project budget may be required Defer non first oil…
  14. May 2015 Corporate Presentation – Shamaran Petroleum – slide 14
    Corporate Profile Share Capital SNM Share price on TSX.V Issued and outstanding 1,579,768,534 Market Capitalisation (18 May 2015) CAD 142M Major Shareholders Lundin family trusts 19.1% Columbia Wanger 8.6% Lundin Petroleum…
  15. May 2015 Corporate Presentation – Shamaran Petroleum – slide 15
    The Lundin Group Combined Market Cap 11.9 Billion ShaMaran A Lundin Group Company 16
  16. May 2015 Corporate Presentation – Shamaran Petroleum – slide 16
    Key Points Robust Atrush development project World class resource base: Gross 2P 61.5 MMBoe Gross 2C 310 MMboe Secure export route Potential for delay in target first oil date of Q4 2015 Prudent management of funds to first oil…

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