Merrill Lynch Oil and Gas Conference 16-18 April 2012 Brian OCathain Tom Hickey
Company Overview and Strategy Algeria History Appraisal Results Development Planning Kurdistan Region of Iraq Italy 2
Corporate Overview Petroceltic (AiM: PCI.L; IEX, PCI.ID) Highly experienced team with Major E&P Ordinary Shares in Issue 2,370 mm Company backgrounds Board Market Capitalisation Stg 200 mm Management Market Capitalisation US 300 mm…
A Clear Strategy To Add Value Appraise and Monetise Algerian Asset Multi-Well appraisal campaign successfully completed Farm-out to Enel concluded Draft field Final Discovery Report submitted Diversify and Balance our Business…
Petroceltics Current Core Areas Core areas in Algeria, Kurdistan Region of Iraq and Italy in which Petroceltic has multiple potential company makers Significant exploration potential identified A portfolio of Oil and Gas Development…
Algeria Gas Infrastructure Natural Gas Market & PCIs Isarene Permit 6
Isarene Permit Location South Illizi Basin 7
Algeria: Successful Appraisal Programme Well Type Objective Comment AT-4 Vertical GIIP Outside Glacial Valley AT-8 AT-5 Pilot + Flow Rate Pop-Up (1) Horizontal AT-6 Vertical GIIP SE Valley AT-9 AT-7 Vertical GIIP SW Valley AT-8 Vertical…
Ain Tsila Ordovician Analogues Its been done before Tignuentourine (BP/ Statoil) 1000 MMscf/d wet gas plateau 30 wells, 3 trains Tin Fouye-Tabankort (Total/ Repsol) 700 MMscf/d wet gas plateau with 40 wells, 2 trains Ohanet…
Summary of Ain Tsila Development Concept Mid Case development scenario - Region 1 economically and technically robust High perm. Projections based on field Sector Models High Fractures supported by appraisal evidence Region 2 Low…
Ain Tsila Outline Development Plan First Gas 600 2,000 Cumulative Gross Capex MM USD 1,800 500 1,600 Gross Capex MM USD 400 1,400 1,200 Self 300 Financing 1,000 800 200 600 100 400 200 - - 2014 2015 2016 2017…
Ohanet Central Processing Facility Gas/ LPG Condensate/ spheres LPG export Flare stacks Condensate Gas tanks compression Two 350 MMscf/d Evaporation processing trains ponds Slug catcher 12
% From Algeria % From Libya 16% 33 34 12 % % 33 % % 13 % 16 % 13
Opportunities for long term value creation Productivity/ recovery upsides Influence of completion design technology on hydraulic frac Distribution of good facies (push limits further South) Fully integrate AT-7 well test results -…
Kurdistan Region of Iraq High Impact Exploration Blocks 15
Dinarta and Shakrok Blocks - Transaction Overview Petroceltic has a 20% interest (16% participating interest) in two highly prospective blocks in the Kurdistan Region of Iraq Hess Middle East is operator of both blocks with an 80%…
Kurdistan Region of Iraq Emerging World Class Province Acreage Awards & Rapid Discovery 2007 2011 17
Dinarta: Very Significant Exploration Potential Major undrilled anticlines adjacent to world-class discoveries Joint Venture: Hess 64%, PCI 16%, KRG 20% (carried) Unexplored 1,319 sq km block with major Shireen surface structures…
Shakrok: Significant Exploration Opportunity Undrilled anticlines on trend with Taq Taq field Joint Venture: Hess 64%, PCI 16%, KRG 20% (carried) Unexplored 418 sq km Block with major surface structures and extensive oil seeps…
Kurdistan Region of Iraq Undrilled Surface Anticlines Undrilled Pelewan Anticline, Shakrok Block 20
Italy Building for Success 21
Petroceltic Italia Major value creation potential in Italy E&P activity continues despite challenges created by DL128 Onshore/ Offshore outside 12 mile zone Rovasenda - potentially transformational Planned 4Q 2012 spud Risk…
Petroceltic Italia Western Po Valley Core Area 2010 Award of Ronsecco Permit 2011 Transfer of Carisio Operatorship to Eni effective Licence for all seismic data in Carisio & Ronsecco 2012 Rovasenda Well permitting, site selection,…
Petroceltic Italia Offshore Abruzzo Core Area Granato BR268 suspended pending judicial review 35 mmbbl PR E&P restricted within 5-12 nautical miles of coastline (DL 128) Extension of high-graded Elsa play fairway into outboard…
Conclusions 25
Near Term Catalysts for Growth Algeria Approval of Field Development Plan Agreement on the Gas Sales Contract 2nd Farmout of stake in the Isarene Asset Kurdistan Completion of 2D Seismic Survey on Shakrok and Dinarta blocks…
Enel Farmout Enel Farm-out Announced 28th April 200 36.75 million in historic costs 180 2 for 1 Appraisal Carry to max of 71 160 million (145 million programme) Contingent Reserves-Based contingent consideration 140 Payments up…
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