AGENDA Presentation Trinitys Business Model and Strategy Strategic Landscape Asset Portfolio Going Forward
TRINITYS BUSINESS MODEL & STRATEGY Consistent business model - focusing on reserves and production growth since founding in 2005 Our strategy: Mature basin acquisition and development business model Focus on acquiring and developing…
STRATEGIC LANDSCAPE Trinidad & Tobago is a mature but highly attractive basin Sustained growth in oil & gas production is a strategic national interest Mature network of infrastructure and access to downstream markets Availability of…
TRINIDAD MACRO ENVIRONMENT Oil production in decline Looming gas shortage Trinidad remains a prolific basin, but significant investment is required in both oil and gas production to arrest declines Source: Woodmac, Ministry of…
ASSET PORTFOLIO ONSHORE WEST COAST EAST COAST PGB Tabaquite WD-5 /WD-6 Galeota (Brighton Marine Outer, Guapo Marine and Pt. Ligoure) Guapo 1 WD-13 Brighton Marine Inner FZ-2 WD-14 1A/1B (Pending approval) WD-2 WD-16 7
RESERVES/RESOURCES DISTRIBUTION RESERVES 2C RESOURCES 90 W. COAST LAND E. COAST 1A/1B 80 70 60 (MMBOE) 50 40 30 20 10 0 PRE 2013 2013 2014 Portfolio diversification into high quality greenfield development…
RECENT ACQUISITION: BLOCK 1A/1B Trinity has agreed to acquire an 80% operated interest in Block 1a and Block 1b offshore the West Coast of Trinidad for a consideration of US23 million The blocks are estimated to contain gross…
DEVELOPMENT CONCEPT 10
1A/1B HIGHLIGHTS Sustains Trinitys growth strategy, targeting the basins growing set of stranded assets while diversifying the portfolio into gas production Significant growth in resource base (adds net 36 mmboe 2C resources) Fully…
ONSHORE 12
ONSHORE PERFORMANCE Production Commentary 2,500 Steady production base generates 2,400 strong cash flows for re-investment 2,300 Continued focus on arresting base 2,200 declines with active programme of 2,100 workovers and…
APPROVED DRILLING LOCATIONS Guapo 1 (5) WD 13 (2) WD 14 (1) FZ 2 (3) WD 5/6 (1) Twelve firm drilling locations with work expected to start in Q1 2015 14
WEST COAST (BRIGHTON AND PGB) 15
BRIGHTON Asset Map Commentary Significant remaining potential identified across West Flank of Brighton field Historic recovery rates 0-6% across key fault compartments Opportunity for higher recovery rates on new drilling Seven…
PROPOSED BRIGHTON LOCATIONS Seven firm locations, four contingent wells depending on success of initial phase 17
PROPOSED GUAPO LOCATIONS Type Log Type Log GUM12X Drilling Candidate GUM12X Fault Block B Drilling Candidate Fault Block B Block B Fault Block ABlock B BlockBlock Fault A C Fault Block A BlockBlock Fault A C Nariva 600…
EAST COAST 19
GALEOTA TREND Galeota Block B A Prospect Discovery Lead 3km Galeota Ridge structure contains existing production from Trintes, the TGAL discovery and various low risk prospects 20
TRINTES DEVELOPMENT DRILLING Nine firm locations identified continued subsurface work to increase drilling inventory 21
TGAL 22
NEXT STEPS Progress TGAL discovery to FDP (Field Development Plan) approval - ADIL engaged, draft FDP submission expected Q1 2015 Fast track Block 1a and 1b to FDP - Secure Gas Sales Agreement/discussions initiated with buyers -…
SUMMARY A strong production and cash flow base + Excellent local relationships + First-mover advantage in a prolific hydrocarbon basin + Pending developments in the near term (2C - 2P) + Diversified asset base (gas & oil) =…
TRINITY KEY FACTS Head Office San Fernando, Trinidad & Tobago Number of Employees 300 2P reserves 48 mmbbl Contingent resources 74 mmboe Q3 2014 Production 3,691 boepd Cash Jun 30, 2014 US9.6 mm Debt June 30, 2014 US19 mm…
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