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May 2015 Annual General Meeting – Bankers Petroleum Ltd.

Bankers Petroleum Ltd. · May 22, 2015 · 26 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 Annual General Meeting – Bankers Petroleum Ltd. – slide 1
    CORPORATE PRESENTATION ANNUAL GENERAL MEETING MAY 2015 TSX: BNK Corporate Presentation
  2. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 2
    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 (285 Million fully diluted) Share Price 3.18 (as…
  3. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 3
    ASSET OVERVIEW- ALBANIA Patos-Marinza Oilfield Largest onshore oilfield in Europe 100% W.I. and operatorship 191 Million Barrels 2P Reserves Kuova Oilfield 100% W.I. and operatorship 12 Million Barrels 2P Reserves Drilled first…
  4. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 4
    INVESTMENT HIGHLIGHTS Large Primary 203 Million barrels 2P Reserves 5.4 Billion barrels OIIP Strong Record of Q2 2015 average production to date Production Growth 19,700 bopd Robust Pricing 23 cash margin in Q1 2015 Q1 2015…
  5. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 5
    HISTORY OF PATOS-MARINZA Patos-Marinza was first discovered by APOC (Anglo Persian Oil Co.) and developed in stages 1928 1990 by Russians and Albanians. 1990 Fall of Communism in Albania AAP (Anglo Albanian Petroleum, a partnership…
  6. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 6
    AVERAGE QUARTERLY PRODUCTION 22,500 20,000 17,500 Horizontal Wells: 434 15,000 12,500 10,000 7,500 Vertical Wells: 100 5,000 2,500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
  7. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 7
    CORPORATE STRATEGY 2 drilling rigs, 60 new horizontal wells Execute Drilling Operational flexibility to adjust pace of drilling with oil Program prices Optimize treating process and sourcing to reduce Expand Product diluent…
  8. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 8
    RESERVES VALUE & METRICS December 31, 2014 Reserves 125 Mbbls 203 Mbbls Patos-Marinza 122 Mbbls 191 Mbbls Kuova 3 Mbbls 12 Mbbls Reserve Life Index 17 years 27 years Net Present Value 734 1,802 at 10% After Tax (US…
  9. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 9
    RESERVES ALLOCATION Depth: 2000 m Core Area 2014 Oil initially in place (OIIP) 1.8 Bbbls Recovery to date 141 MMbbls Recovered by Bankers 37 MMbbls (26%) Remaining booked 166 MMbbls Primary 155 EOR 11 Total Recovery using Primary…
  10. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 10
    2015 CAPITAL PROGRAM OF 153 M Primary Development and Margin Expansion 125 Million 2 drilling rigs, 60 horizontal wells to be drilled Gathering and flow line systems 1 water disposal well Large programs for electrification, pump…
  11. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 11
    HORIZONTAL WELL PERFORMANCE Average Horizontal Well Profile 100 500 Oil Rate 3P Recovery Case 80 2P Recovery Case 400 Producing Well Count Oil Rate (CD, bopd) 1P Recovery Case 60 Well Count 300 40 200 20 100 0 0…
  12. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 12
    Cash Margin Cash Margin (/bbl) 55 2013 2014 Q1 2015 50 Brent 108.66 98.95 53.94 Sales Price 85.39 77.26 39.66 45 (% of Brent) (79%) (78%) (74%) 40 Royalties 14.22 11.39 5.56 35 Transportation 2.44 2.38 1.82 Energy 2.88 2.25…
  13. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 13
    CASH MARGIN EQUIVALENT 70.00 Hedge AR Netback S&T OPEX Royalties 60.00 7.61 7.07 50.00 6.52 5.98 5.44 4.89 11.68 4.35 11.64 40.00 11.61 11.57 /bbl 11.53 11.49 7.84 11.46 7.64 7.44 30.00 7.04 7.24 6.84 6.63…
  14. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 14
    2015 SALES CONTRACTS Total cash realization equivalent of 89% Dated Brent Inclusive of domestic and export contracts as well as existing hedge at 60/bbl Brent Export Market 55% of 2015 volumes will be sold to the export market All…
  15. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 15
    SURFACE INFRASTRUCTURE OPTIMIZATION Lease Construction Satellite Treating Well Pad Tie ins, Treating, Testing, Sour Production Facility Handling, Control & Automation Gathering System (Pad D/H, Sat 3) Water Disposal…
  16. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 16
    COST STRUCTURE IMPROVEMENTS Cost Potential Category Q1 2013 Q1 2015 Savings Ongoing Initiatives Savings (23 years) Produce lighter oil 4.37 0.71 0.50 Proactive tank turnarounds Diluent 7.12 Excise tax: 2.75 Optimize workovers…
  17. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 17
    ENERGY SAVINGS Energy /bbl 4.50 4.00 3.50 19% Reduction QoQ 3.00 2.50 2.00 1.50 1.00 0.50 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Net Energy Cost Excise…
  18. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 18
    TRANSPORTATION SAVINGS Transportation /bbl 3.00 26% Decrease QoQ 2.50 2.00 1.50 1.00 0.50 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 In-field…
  19. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 19
    DILUENT REDUCTION Diluent Cost (/bbl) 10.00 14% 9.00 11% Reduction QoQ 12% % Diluent Blend by Volume 8.00 Diluent Cost (/bbl) 7.00 10% 6.00 8% 5.00 4.00 6% 3.00 4% 2.00 2% 1.00 0% Q1 2012 Q2 2012 Q3 2012 Q4 2012…
  20. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 20
    EOR PROGRAM 27 EOR patterns in operation at end of Q1 2015 positive results to date 11.3 million barrels 2P Reserves booked in 2014 20 30 projected conversions in 2015 half of planned conversions are expansion to existing patterns,…
  21. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 21
    EOR WELL PERFORMANCE Average Polymer Flood Profile 250 15 200 12 Oil Rate (bopd) Pattern Count 150 9 100 6 50 3 0 0 0 10 20 30 40 50 60 Months On Injection 22
  22. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 22
    STRONG BALANCE SHEET LIQUIDITY at March 31, 2015 Working capital of 174 Million; CASH of 58 Million Credit Facilities Facility Utilized Approved Raiffeisen Bank 20 Million 7 Million 13 Million IFC / EBRD 204 Million 104 Million 100…
  23. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 23
    HEALTH, SAFETY, ENVIRONMENT & COMMUNITY RELATION Environmental Cleanup and remediation Meeting International standards Previous Albpetrol well Economic Health & Safety Health, Safety, Development Creating safe work…
  24. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 24
    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, New Ventures & Executive VP & COO Corporate…
  25. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 25
    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…
  26. May 2015 Annual General Meeting – Bankers Petroleum Ltd. – slide 26
    ANALYST COVERAGE Christopher Canaccord Genuity M Partners David Buma Brown CIBC Dave Popowich Mackie Research Mark Heim Aaditya Chintalapati Cormark Securities Garett Ursu Pareto Securities & Thomas Aarrestad Credit Suisse…

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