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IPAA OGIS New York – Transatlantic Petroleum Ltd.

Transatlantic Petroleum Ltd. · Apr 20, 2015 · 41 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. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 1
    Exhibit 99.1 IPAA OGIS New York 2015 April 2015
  2. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 2
    FOCUSED ON ESTABLISHED, UNDEREXPLORED PETROLEUM SYSTEMS TransAtlantic Petroleum (NYSE-MKT: TAT) (TSX: TNP) is an international oil and gas company based in Dallas, Texas Applying proven, North American technology to known…
  3. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 3
    POSITIONED FOR FUTURE GROWTH In 2014, we demonstrated operational success and positioned ourselves for future growth. Record production and reserves growth 24% YOY Production growth, 168% 1P reserves growth (40% organic growth)…
  4. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 4
    Q1 2015 SUMMARY During a Quarter of very low activity we: Utilized cash flow from Turkey Loans and to improve balance sheet Payables 33 Million Cash 6 Million 5
  5. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 5
    Q1 2015 SUMMARY Turkey LOE Costs 20 During a Quarter of very low 1.7 15 2.2 MM USD activity we: 10 5 18.0 14.1 22% Utilized cash flow from Turkey 0 2014 Wages Other 2015E to improve balance sheet Turkey G&A Costs(1)…
  6. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 6
    Q1 2015 SUMMARY During a Quarter of very low activity we: Total G&A and LOE Costs Utilized cash flow from Turkey to improve balance sheet 8.1 Million Improved cost efficiencies on LOE, G&A, Capex in Turkey Bahar Well Costs(1)…
  7. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 7
    Q1 2015 SUMMARY During a Quarter of very low activity we: Gorisht Production Utilized cash flow from Turkey to improve balance sheet 1,000,000 BBLS 500,000 BBLS 250,000 BBLS Improved cost efficiencies on 2,000 MMCF 1,000 MMCF…
  8. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 8
    Q1 2015 SUMMARY During a Quarter of very low activity we: Gorisht Field Well Penetrations Utilized cash flow from Turkey to improve balance sheet Improved cost efficiencies on LOE, G&A, Capex All 250 M Evaluated Albanian…
  9. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 9
    Q1 2015 SUMMARY During a Quarter of very low activity we: Quarterly Net Sales Volumes(1) Utilized cash flow from Turkey 6,000 to improve balance sheet 5,000 Improved cost efficiencies on LOE, G&A, Capex 4,000 BOEPD 3,000…
  10. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 10
    2015 PLAN Reactivating rigs in Q2 Profitable Inventory 50%+ IRR for 4 main areas 60 Brent Albania; SE Turkey: Goksu then Bahar 350% 300% 250% Begin production enhancement well 200% work in Albania IRR 150%…
  11. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 11
    TURKEY 12
  12. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 12
    SOUTHEASTERN TURKEY 593,000 gross, 385,000 net acres, area is mostly oil, except Bakuk field 350,000 acres of proprietary 3D seismic in SE Turkey 19 wells drilled and spud in 2014 elmo Field Shell-TPAO Dada Shale Drilling…
  13. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 13
    ELMO FIELD DEVELOPMENT Implemented horizontal drilling for the first time in elmo field in 2013 Targeting undrained Middle inan Dolomite (MSD) zone (1,700m/5,550 vert. depth) New wells IP up to 700 BOPD; 77 locations(1) identified…
  14. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 14
    ELMO FIELD SECONDARY RECOVERY Commenced secondary recovery in elmo in 2014 Converted 4 wells to injection in 2014 as part of waterflood pilot test Infrastructure in place for expansion Pilot estimated to add 400 MBO incremental EUR…
  15. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 15
    MOLLA AREA 3D PROSPECTS 278,000 acres of proprietary 3D Migration seismic over the Molla area Migration Gross production is 1,700 BOPD Migration within 4,300 acres Dadas Maturity line Migration Dada formation producing in…
  16. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 16
    SIGNIFICANT UNBOOKED RESERVES IN MOLLA Reserves constitute a small footprint TransAtlantic licenses encompass 212,694 gross, 164,708 net acres in Molla Molla Area in South East Turkey Bahar Molla Goksu Arpatepe…
  17. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 17
    DADA POTENTIAL Bahar 6 was completed in both the Dada and Bedinan formations Production is outperforming the average curve of Bedinan only production All wells are vertical Bahar Field Well Results BOPD Bahar 6: Comingled Dada…
  18. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 18
    THRACE BASIN, NORTHWESTERN TURKEY 1.5 million gross, 804,000 net acres in Northwest Turkey, area mostly gas 877,000 acres of proprietary 3D seismic in Northwest Turkey New geological basin model (confirmed by Gurgen discovery) has…
  19. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 19
    ALBANIA 20
  20. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 20
    ALBANIAN ASSETS HAVE SIGNIFICANT POTENTIAL Many existing wells have only penetrated 6-15m / 20-50 of the reservoir, which may be as large as 700m / 2,300 thick Oil fields are structurally trapped carbonate reservoirs, like…
  21. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 21
    GORISHT FIELD ALL EOCENE 250 Meters/820 Feet Discovered in 1965 peak production of 25,000 250Meters/2,460 500 750 Meters/820 ALL EOCENE Feet Meters/1,640 Feet BOPD 1,100 2,500 Meters deep (3,600 8,200 feet) The Majority of…
  22. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 22
    GORISHT WELL DETAIL Well 240 Well 44 Most wells only drilled 50m (165 feet) into the reservoir Seal The few wells that drilled Seal deeper show several distinct 400 Meters/1,300 Feet oil saturated zones Seal Untapped…
  23. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 23
    2015 ALBANIA NET OIL PRODUCTION Change Management Transformer Failure 24
  24. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 24
    DELVINA GAS FIELD, ALBANIA One of the largest gas structures in southeast Europe Discovered 1987 60,000 net acres (24,000 hectares) covering Delvina and three undrilled structures (100% WI) Gas condensate, 63 degree API…
  25. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 25
    DELVINA FIELD MINIMUM 2015 PLAN Delvina is a proven gas condensate field Will finish drilling the D-34 well and complete it with a multi-stage stimulation Significant gas condensate field with complex drilling and production…
  26. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 26
    CONCLUSION Good execution and growth in 2014 Building prospect inventory to improve future potential Quickly adapted to low price environment TransAtlantic (TAT) is significantly undervalued Current NAV/EV: 2.4X 1P NAV/Share:…
  27. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 27
    Appendix 28
  28. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 28
    UNDERVALUED Declines in share price and increases in intrinsic value have exaggerated value gap Deep inventory of profitable projects in current commodity environment Proven success in reserves growth Value Gap Profitable…
  29. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 29
    ADAPTIVE TO CHANGE IN PRICE ENVIRONMENT We are adapting to current prices while remaining focused on value generation. Well prepared with a beneficial hedge position Value of 32 million at year end 2014 Increased liquidity through…
  30. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 30
    DEMONSTRATED PRODUCTION GROWTH Avg. Netback/BOE 35.0 30.3 Adjusted EBITDAX(1) (MM USD) Quarterly Net Sales (BOEPD) : 6,000 26.0 30.0 24.9 5,000 22.7 25.0 4,000 20.0 16.2 3,000 15.0 2,000 10.0 1,000 5.0 4,391…
  31. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 31
    FINANCIAL METRICS BASIC EPS 0.77 per share in 2014 Adj. EBITDAX 42% 4-yr CAGR; 16% YOY 1.50 1.00 0.77 100 87.6 89.6 90 0.50 77.0 80 0.00 70 66.0 Million USD USD -0.50 -0.17 60 -0.36 50 -1.00 -0.95 40 -1.50 30…
  32. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 32
    IMPROVED COSTS G&A -11% 4-yr CAGR; -13% YOY LOE -15% 4-yr CAGR; -13% YOY 25 25 22.74 20 18.65 17.96 20 17.71 16.73 14.59 15 15 USD/BOE USD/BOE 10.72 9.49 9.42 9.36 10 10 5 5 0 - 2010 2011 2012 2013 2014…
  33. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 33
    HIGH QUALITY 3D SEISMIC Significant amount of proprietary 3D seismic, all of which has been expensed Area Kms2 Miles2 Acres Hectares Northwest Turkey 3,548 1,370 876,730 354,800 Southeast Turkey 1,417 547 350,148 141,700 Bulgaria…
  34. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 34
    FISCAL TERMS AND PV-10 RECONCILIATION TURKEY US MM TAT 12.5% royalty, no production tax Total P1 PV-10 884.4 VAT exempt on exploration licenses, refunded on Future income taxes (392.2)1 production leases Discount of future income…
  35. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 35
    MANAGEMENT TEAM Name Position Select Experience Founded Riata Energy (renamed SandRidge, NYSE: SD) N. Malone Mitchell 3rd Chairman & CEO and built it to 1 TCF proved reserves, 43 rigs operated; founded Longfellow Energy; owns 36% of…
  36. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 36
    DADA DETAIL Every well encounters oil shows within the Dada (Silurian) formation in this mature area Seismic anomalies correspond to quality sand depositions in the Dada Dada sands were deposited in low areas flanking anticlinal…
  37. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 37
    MOLLA AREA 3D SEISMIC CROSS SECTION Dada C C 38
  38. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 38
    ALBANIAN OIL FIELDS Gorisht Field Cakran Field Discovered 1965, 25,000 BOPD peak Discovered 1977, 6,000 BOPD peak 13 16 degree API 14 37 degree API, condensates 53 degree API 3,000 net acres (1,214 net hectares) (100% WI) 6,000 net…
  39. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 39
    GROWTH PLAN FOR ALBANIAN OIL FIELDS In each of the three Albanian oil fields (Gorisht, Cakran, Ballsh) we plan to deepen, core and log two wells Will core the complete reservoir to create a petrophysical model Developing the…
  40. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 40
    ALBANIAN PRECEDENT: BANKERS PETROLEUM Bankers signed a concession for the Patos-Marinza oil field in 2004; grew the asset from 400 BOPD to more than 20,000 BOPD over a ten-year period Development included reactivations, horizontal…
  41. IPAA OGIS New York – Transatlantic Petroleum Ltd. – slide 41
    CONTACT Lizzy Chesnut Investor Relations (214) 265-4716 Lizzy.Chesnuttapcor.com www.TransAtlanticPetroleum.com 42

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