Preface This presentation, which is confidential and is being supplied in the United Kingdom only to persons with professional experience in matters relating to investments for the purposes of the Financial Services and Markets Act…
Introduction & Overview 3
2011 Highlights Largest development project in Companys history into production on time and on budget in August 2011 TGT production has achieved ca. 40,000 bopd and preparing for staged production increase Excellent financial…
Positioned to Deliver Significant Value Record cash generation transforms balance sheet for 2012 Strong balance sheet, getting stronger opens greater optionality to enhancing shareholder value Excellent position to benefit from…
Strategy Focused on Maximising Value Recognising opportunity build large positions early on before the play concept becomes too expensive early entry in Vietnam and our focus on pre-salt in West Africa Capturing potential…
FINANCIAL RESULTS 7
2011 Financial Highlights (from continuing operations) Production for 2011 averaged 5,437 boepd (140% increase yoy) Record financial year revenue of US234 million (380% increase yoy) cash flow of US90 million (650% increase…
Cuu Long Basin Development and Appraisal Areas TGT 30.5% WI CNV 25% WI TGD 58.5% WI 11
CNV Field Fractured granitic Basement field Producing at steady ca. 8,000 boepd Installing additional separation and 1250 m metering facilities on stream May 2012 Additional production well being discussed for 2012 or…
Top Basement Depth Map Area around Proposed Well CNV-7P 1250 m m 0 30 BSM entry point 13
CNV Separator Project 14
TGT Field Largest development project in Companys history into production on time and on budget in August 2011 Phase II development drilling at TGT commenced in October 2011. Production start up anticipated for August 2012…
Well Location and Completions Field fully simulated to optimise well location selection Monobore completion design - allowing selective perforations, improved well monitoring (pressure and PLT data) and water shut off Other…
TGT-H1-WHP 17
FPSO Armada TGT 1 18
Floating Production Storage and Offloading Vessel Name: FPSO TGT 1 Date of Build: September 1996 Type of Vessel: Double Hull Crude Oil Tanker Main Functionality: Receipt of fluids from WHPs wells and processing of the incoming…
Overall Te Giac Trang Field Layout H1-WHP FPSO 4 x 10 Multiphase Pipelines 1 x 10 Water Injection Pipeline 1 x 8 Gas-lift Pipeline 01 -2/ JOC k 15 ng oc g Lo 1.8 km Bl C an 1 Th 16- g JO k n PLEM MWJ oc g Lo SSIV B l an…
TGT Early Reservoir Testing TGT-H1-3P TGT-2X TGT-H1-7P TGT-H1-1P TGT-H1-5P TGT-H1-2P West East 5.2 Upper 5.2 Lower C TGT-H1-5P TGT-H1-1P TGT-H1-2P TGT-2X TGT-H1-3P TGT-H1-7P H1 Platform - Existing perforations…
TGT Early Reservoir Testing Well performance has demonstrated the ability of all wells to produce oil at high rates with minimal drawdown. Confirmed the presence of a local, strong aquifer providing support to the main Miocene and…
H4 Topsides at PVC-MS Yard, Vietnam Helideck Installation 13 Feb 2012 25
TGT Summary TGT is showing all the characteristics of a World-Class Field Strong aquifer response - delay planning for water injection and fewer wells needed Strong well performance indicates good sand connectivity and high recovery…
South Hydrocarbon Columns - TGT Field North H2N H2S H3N LEGEND Most Likely H4 H3 Upside / Undrilled 5.2 Upper 5.2 Lower H1.2 Olig-C H1.1 H2 HST-1X-ST1 TGT-H1-5P TGT-H1-1P TGT-H1-3P TGT-H1-2P TGT-2X TGT-H1-7P…
TGT Five Year Development Well Plan 2012 2014 2 infill 1 alternative appraisal 1 producer Add. dev. wells 1 appraisal Sidetrack flank wells 2015 Add. dev. Appraisal Water Injector 2012 5 development wells 2016 Appraisal…
TGT Summary Activities to deliver Full field and individual well models for infill locations and timing and to refine focus on undrilled fault blocks more than a dozen undrilled Fault Blocks/Closures remain to be drilled from the…
TGD-TGT Location Map Block 16-1 Boundary THANG LONG 15.2 Te Giac Trang (TGT) Development Area ( 173 km2 ) a b Te Giac Den (TGD) Appraisal Area: TGT-2X Form Top E Sequence to Basement ( 105.9 km2 ) Te Giac Trang TGT-1X From Sea Bed…
TGD Comparison of 2009 PSDM and 2012 MAZ Survey 2009 PSDM XLINE MAZ has: Identification of possible Reverse fault not seen before More coherent Poor Reflectors reflectors in 2012 MAZ PSDM XLINE Pre- Volcanic sands Better…
TGD Alpha Location: Inline 680; Xline 1620 Alpha C D E Upper E Lower Volcanics Basement P50 Area 32
TGD Conclusions New seismic has improved image across the area Mid and Lower Oligocene, as well as Basement, objectives are recognised in two prospects Source, seal and structure are very low risk prospect elements Reservoir…
Central African Portfolio 34
Cabinda North Completed extensive seismic acquisition programme across the entire block Currently reviewing prospect portfolio for well location selection for drilling in 2012 35
Congo Marine XI and XIV Blocks Completed two well drilling programme on Marine XI and Marine XIV Reviewing results in preparation for additional well on Marine XI in late 2012/early 2013 Pre salt geology highly complex…
Nganzi Block Activity Evaluation of well results completed Chela leads identified and mapped Seismic programme ongoing Preparing for potential drilling late 2012 37
Block V Activity Completed detailed environmental study together with relevant DRC authorities Preparing for Phase 1 exploration activity of high definition aeromagnetic aerogravity survey on the DRC side of Lake Edward in 2Q…
Exploration Drilling Schedule 39
Primary Areas of New Venture Focus VIETNAM CONGO DRCONGO ANGOLA OPERATED NON-OPERATED 40
Conclusion & Outlook 41
Positioned to Deliver Significant Value Record cash generation transforms balance sheet Strong balance sheet, getting stronger Continue to drive value enhancements within existing portfolio while using strong revenue to expand…
Strategy Focused on Maximising Value Recognising opportunity build large positions early on before the play concept becomes too expensive Capturing potential increase portfolio value through the application of managerial and…
Going Forward into 2012 and Beyond TGT performing well, with results to date indicating need for fewer wells, delay to water injection and upper end of range of recovery factors Ramping up production all about PetroVietnam and…
Going Forward into 2012 and Beyond Very strong financially and will be generating more cash with stable production of ca. 16,000 boepd. Offers more options in enhancing shareholder value through development of the current portfolio…
SOCO International plc From 19th March 2012 48 Dover Street London W1S 4FF United Kingdom Tel: 020 7747 2000 Fax: 020 7747 2001 Registered No: 3300821 www.socointernational.com 46
Appendix 47
Substantial Shareholders (millions of shares) Name of Holder Number % Pontoil Intertrade Limited 80.8 23.9 BlackRock, Inc. 34.0 10.0 Chemsa Ltd (Previously the Estate of P. Maugein, former SOCO 24.4 7.2 Chairman) Legal &…
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