Corporate Presentation June 2015 www.sterlingenergyplc.com 1 www.sterlingenergyplc.com
Sterling Energy: Disciplined Material Exploration Africa focused, Value driven Diverse upstream asset portfolio Mauritania: Chinguetti PSC B production royalty Mauritania C-3 Mauritania: C-3 shallow water block Sterling 40.5%…
Mauritania Country Overview Stable Democracy - growing Oil & Gas province Government Islamic Republic of Mauritania (1,030,000 km2) President Mohamed Ould Abdel Aziz: Held office since 2009 Elected for further 5 year term in June…
Mauritania PSC B Chinguetti Oil Production Chinguetti Field First Commercial oil field discovered in 2001, 80kms offshore in 800m WD 2014 gross field production of 5,512 bopd Petronas 47.38% (Op.), Tullow 22.26%, Premier 8.12%,…
Mauritania Major play opening discoveries along the margin Marsouin Kosmos (Q4 2015) 300Mmboe Cretaceous prospect (Chevron farmin) Chinguetti Tortue Kosmos (May 2015) 107m net gas pay in Cenomanian clastic slope & channel…
Mauritania Block C-3: Material new asset position Joint Venture Partners Sterling 40.5% W.I.* Tullow (Operator) 49.5% SMH 10% (carried by Sterling & Tullow during exploration phase) Shallow water exploration play Area 9,781 km2,…
Mauritania Block C-3: Immature, sparsely tested shallow water plays Cretaceous Clastics V-1 & Coppolani-1 (1984) Oil shows Block C-3 geological setting in Maastrichtian sections Dory Miocene Clastics Chinguetti, Banda,…
Mauritania Block C-10: Large footprint in a proven basin Joint Venture Partners Sterling 13.5% W.I.* Tullow (Operator) 76.5% SMH 10% (carried by Sterling & Tullow during exploration phase) Large block in a proven basin Area 10,725…
Mauritania Block C-10: Multi-play potential in a proven basin Kibaro Prospect Late Cretaceous structural closure within turbidite canyon system Jackal Complex Prospect Cretaceous turbidite slope channel complex, largely…
Somaliland Country Overview Frontier opportunity Government Somaliland (637,000 km2) was a UK protectorate from 1884 until 1960 Declared independence from Somalia in 1991; allowed development of a stable, democratic government Not…
Somaliland Odewayne block Extension of prolific proven play Odewayne PSC Genel (50% Op.) Sterling (40%) Yemen Petrosoma (10%) 6Bbo Resource Analogous Mesozoic Licence Terms and Commitments rift basins Sterling carried by Genel…
Somaliland - Odewayne Unexplored Mesozoic rift basin Courtesy of Africa Energy Corp. Frontier block with no seismic control and no drilling to date Odewayne block 22,840 km2, equivalent to +/- 100 UKCS Blocks Basin interpreted…
Somaliland Odewayne Strong evidence for working Petroleum system Sparsely explored Somaliland basin contiguous to Yemen (Marib-Shawba & Sayun- Masila) Petroleum system Multiple shows and oil seeps Excellent quality Jurassic…
Cameroon Country Overview Established oil industry with running room Government - Republic of Cameroon (475,440km2) - Multi-party presidential system - President Paul Biya Held office since Nov 1982 Elected for further 7 year term…
Cameroon - Ntem Offset production and Cretaceous Exploration potential Block I, O and Yo-Yo (Noble Energy) Miocene oil and gas condensate production Tilapia Cheetah prospect (Noble) Upper Cretaceous prospect targeting gross…
Cameroon - Ntem Technical overview Bamboo-1 Sterling 100% working interest and Bamboo-1 Operator Well developed (over 200m net sand) Cretaceous submarine fan system. Post-mortem well analysis has de-risked Favourable Fiscal terms…
Cameroon & Equatorial Guinea Maritime Border claims Maritime Border Claim Equatorial Guinea made claims over Cameroons maritime territory; Western and southern boundaries of Ntem concession potentially affected Force Majeure (FM)…
Madagascar Country Overview Nascent Petroleum sector Government Elections held December 2013 Hery Rajaonarimampianina elected President for 5 year term Economy (2014)* GDP: 33.64 billion 3% real growth rate Population 23.2…
Madagascar Regional context East African conjugate margin Jurassic petroleum system Jurassic identified as major source rock Gas discoveries in Tertiary submarine fan and channel sandstone reservoirs Additional potential in…
Madagascar Ambilobe activity Ambilobe Joint Venture partners Sterling 50% Op, Pura Vida 50% Large under explored offshore block 17,650 km2, 0-3,000m Water depth Cretaceous & Jurassic primary play targets 5,500 km 2D seismic…
New Ventures & Growth Leveraging differentiators Disciplined high impact Exploration with low exposure 2010: Sangaw North 1 (Kurdistan) drilled and tested potential resource of 804 Mmboe (gross) at 18MM cost to Sterling. 2014:…
Activity Timeline Executing and growing our asset base 2015 2016 2017 Country Asset H1 H2 H1 H2 H1 H2 C3 (40.5%) Enter 700 km2 3D Mauritania 2015 entry. Ground floor Interpret 2D & Regional data Phase 2 Seismic Drilling terms, no…
Sterling Energy: Disciplined Material Exploration Africa focused, value driven Strong balance sheet Debt free Mauritania Cash of 100 million C-3 Sterling 40.5% Somaliland Tullow 49.5% Op. 2015 programme fully funded SMH 10%…
Board of Directors Track Record of Managing Value Creation Executive Directors Non-executive Directors Alastair Beardsall Keith Henry Chairman Chairman of Regal Petroleum and Greenko Group, 35 years of international oil industry…
Capital Structure Robust balance sheet Sterling Energy PLC - listed on AIM 2002 Shares in issue 220.1 million LTIP (exercise 40p/43p) 12.7 million FULLY DILUTED 232.8 million Significant Shareholders Waterford 29.9 %…
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