UNDER VALUED WITH BALANCE SHEET STRENGTH CAPITAL STRUCTURE (US) Shares Outstanding 74.7 Million Market Capitalization 341.4 Million Trading at 4.57/share Debt (31/03/15) 65.5 Million (05/05/15) or 70% of Working Capital (31/03/15) 207.7…
OIL MARKETING Marketing will improve liquidity, decrease credit risk and improve pricing for West Bakr production Sold first cargo in February, and payment was received in full late March AR outstanding and Months The company lifted…
INVESTMENT HIGHLIGHTS 2.7 Million gross acres of land 2015 Exploration focus 9 Projects in Egypt Complete shooting, processing and 2 Projects in Yemen interpreting 1,400 km2 of 3-D and Strong balance sheet with net working 325 km of 2-D…
EASTERN DESERT Have only recently begun exploration of new lands 3D coverage increased by 3X in2014 2008 3D Acquisition 369 square Km 2014 3D Acquisition 1,044 square Km Currently in processing 2007-2014 Drilling Totals…
EASTERN DESERT: 100% WI - OPERATED Executing large seismic program for 2014/15 in Egypt NW Gharib Eastern Desert 1,044 km 3D Plus 325 km 2-D NW Gharib 479 km 3-D acquisition completed and processed, interpretation underway…
WEST GHARIB: 100% WI - OPERATED Production Installed new PCPs Q1 Q1 2015 - 9,258 Bopd April 2015 9,010 Bopd 2015 Plan 1 well at Hana (suspended Jan) Reservoir studies underway Hana simulation Hana West update Arta Red Bed…
NW GHARIB: 100% WI - OPERATED 2015 Plan 16 3 3 wells drilled (1 oil and 2 dry) 2 Progress three (NWG 1, 3 & 5) oil developments toward first production late 15/early 16 14 1,500-2,000 Bopd initial 1 production potential*…
WEST BAKR: 100% WI - OPERATED Production Q1 2015 - 4,931 Bopd New service rig, mid Feb/15 H April 2015 - 5,516 Bopd 2015 Plan Drilled 1 water injector H field South K field drill program (6-12 wells)* M Restricted access since…
SE GHARIB: 3-D SEISMIC ACQUISITION 11
EGYPT ASSETS: WESTERN DESERT Four Concessions: 3 operated, 1 non-operated Presently acquiring 400 km 3-D in South Ghazalat 12
NW SITRA & S. GHAZALAT: 100% WI - OPERATED S. Ghazalat Awarded in 2013 2015 Plan: 3-D seismic 400 km2 3-D seismic acquisition S. Ghazalat underway N.W. Sitra NW Sitra Awarded in 2014 Ratified January 2015 3-D seismic in 2016…
SOUTH GHAZALAT: 100% WI - OPERATED North Dabaa Discovery 14
SOUTH GHAZALAT: 100% WI - OPERATED 15
SOUTH ALAMEIN: 100% WI - OPERATED Acquired in 2012 Future Plan Contingent on Boraq access Boraq 2 tested at 1,700 Bopd* Exploration period Clock stopped 20+ months from access approval Retained 800 km 2 *The primary…
EAST GHAZALAT: 50% WI - NON-OPERATED North Dabaa Dev Lease Safwa Dev Lease Production Q1 2015 - 514 Bopd April 2015 397 Bopd 2015 Plan 3 well dev drilling plan deferred due to oil prices N Dabaa gas/cond development deferred…
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