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January 2015 Investor Presentation – Bankers Petroleum Ltd.

Bankers Petroleum Ltd. · Jan 30, 2015 · 30 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. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 1
    January 2015 Corporate Presentation TSX AIM: BNK
  2. January 2015 Investor Presentation – 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 (281 Million fully diluted) Share Price 2.66 (as of…
  3. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 3
    Asset Overview- Albania Patos-Marinza Oilfield Largest onshore oilfield in Europe 100% W.I. and operatorship 220 Million Barrels 2P Reserves Kuova Oilfield 100% W.I. and operatorship 12 Million Barrels 2P Reserves Drilled first…
  4. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 4
    Investment Highlights 232 Million barrels 2P Large Primary Reserves 5.4 Billion barrels OIIP Strong Record of 2014 annual average production Production Growth 20,687 bopd Robust Pricing 25 cash margin at 50 Brent 2015 capital…
  5. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 5
    History of Patos-Marinza Patos-Marinza was first discovered by APOC (Anglo Persian Oil Co.) and developed in stages by 1928 1990 Russians and Albanians. 1990 Fall of Communism in Albania AAP (Anglo Albanian Petroleum, a partnership…
  6. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 6
    Engineered Resilience 2 drilling rigs, 60 wells 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…
  7. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 7
    2015 Capital Program of 153 M Primary Development 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 upsizing, and other OPEX…
  8. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 8
    2015 Sales Contracts Total cash realization equivalent of 82% Dated Brent Inclusive of domestic and export contracts as well as existing hedge Export Market 55% of 2015 volumes will be sold to the export market All export volumes…
  9. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 9
    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 11.53 /bbl 11.49 7.84 11.46 7.64 7.44 30.00 7.04 7.24 6.84 6.63…
  10. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 10
    Strong Balance Sheet LIQUIDITY at September 30, 2014 Working capital of 190 Million; CASH of 88 Million (estimated cash of 73 Million at December 31, 2014) Credit Facilities Facility Utilized Available Raiffeisen Bank 20 Million 0…
  11. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 11
    Netbacks Netback (/bbl) 2012 2013 Q3 2014 60 Brent 111.67 108.66 101.93 Sales Price 79.73 85.39 78.55 50 (% of Brent) (71% ) (79%) (77%) Royalties 14.46 14.22 11.36 40 Transportation 2.38 2.44 2.34 Energy 3.83 2.88 2.25 Well…
  12. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 12
    Cost Structure Improvements Cost Potential Category Q1 2013 Q3 2014 Savings On-going Initiatives Savings (2-3 years) Produce lighter oil 0.50 - Proactive tank turnarounds Diluent 7.12 6.78 0.34 Optimize workovers 1.00 Optimize…
  13. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 13
    Off-take Infrastructure Export Pipeline: 2 year right of way CTF 25,000 on export pipeline route to the Vlore ARMO Refinery bopd Port Terminal from Fier Hub. 10,000 bopd refining treatment capacity capacity, Management currently…
  14. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 14
    Patos-Marinza Average Quarterly Production 22,500 20,000 17,500 Horizontal Wells: 429 15,000 Production (bopd) 12,500 10,000 7,500 Vertical Wells: 107 5,000 2,500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
  15. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 15
    Horizontal Well Performance Average Horizontal Well Profile 120 480 Oil Rate 3P recovery case 100 2P recovery case 400 1P recovery case Well Count Producing Well Count 80 320 Oil Rate (CD, bopd) 60 240 40 160 20…
  16. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 16
    Reserves Value / Metrics December 31, 2013 Reserves 147 Mbbls 232 Mbbls Patos-Marinza 144 Mbbls 220 Mbbls Kuova 3 Mbbls 12 Mbbls Reserve Life Index 22 years 35 years Net Present Value 1,216 2,240 at 10% After Tax (Millions) Per Share…
  17. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 17
    Reserves Allocation Depth: 2000 m Core Area 2013 Oil initially in place (OIIP) 1.7 Bbbls Recovery to date 131 Mbbls Recovered by Bankers 29.8 Mbbls (23%) Remaining booked 160 Mbbls Total Recovery using Primary Techniques 17%…
  18. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 18
    Reservoir Characteristics & Development Strategy Composite Type Section Primary Development I Horizontal Drilling & Reactivation of Existing Tertiary Development 510 API Wells Gorani Secondary and Tertiary…
  19. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 19
    Development Program Historical Drilling Program by Zone 2014 locations in red Gorani Upper Driza 558 horizontal wells drilled to the end of Q4 2014 (includes 24 lateral redrills) Pad drilling across 15 zones 995 future horizontal…
  20. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 20
    Water and Polymer Injection Water flood Implementation 1st Waterflood pattern initiated early Q2 2013 4 injection wells in the Upper Marinza (M0) formation at the end of 2014 Patterns are in 10 700 cP viscosity range Polymer Flood…
  21. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 21
    Illustration Type Curve Early Stage 250 Oil rate plateau for 4-8 months Oil rate peak response (increasing water production Fully Supported Producer rate during period) 200 1 well converted at 12 months ( 50 bopd) Oil Rate…
  22. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 22
    EOR Pattern Performance M0 Water Flood Pattern (10-150 cP) D5 Polymer Patterns (700-1400 cP) 350 250 300 200 Oil Rate (bbl/d) 250 Oil Rate (bbl/d) 150 200 150 100 100 50 50 0 0 0 10 20 30 40 0 10 20 30 40 Time…
  23. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 23
    Oil Rate (bopd) Oil Rate (bopd) 0 100 200 300 400 500 600 0 100 200 300 400 500 600 700 800 Jan-13 Jan-13 Apr-13 Apr-13 Jul-13 Jul-13 Oct-13 Oct-13 Jan-14 Jan-14 Pattern Results by Zone M0 Water…
  24. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 24
    Water and Polymer Flood Acceleration Strongly encouraged by the results to date Bankers will increase its spending on EOR by 27% and double the number of conversions compared to 2014 20 estimated conversions in 2015 Pattern…
  25. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 25
    Fiscal Terms Term 25 year term to 2029 with multiple 5 year extensions Royalties Blended average 17% decreasing to 14% over the next 5 years 10% Government Mineral Tax 1% Albpetrol Share of Production ASP 3% after 1x cost recovery…
  26. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 26
    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…
  27. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 27
    Health, Safety, Environment & Community Relations Environmental Clean-up and remediation Meeting International standards Previous Albpetrol well Economic Health & Safety Health, Safety, Development Creating safe work…
  28. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 28
    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, Business Executive VP & COO Development Bayne…
  29. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 29
    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…
  30. January 2015 Investor Presentation – Bankers Petroleum Ltd. – slide 30
    Analyst Coverage Christopher Canaccord Genuity Haywood Securities Darrell Bishop Brown CIBC Dave Popowich Mackie Research Mark Heim Industrial Alliance Cormark Securities Garett Ursu Amin Haque Securities Credit Suisse David…

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