PetroNeft Resources plc Exploration, Development & Production in Russia and the FSU Company Presentation to Shareholders June 22, 2011 PetroNeft Resources plc 1
Company Overview & Strategy
Company Overview & Strategy Established in 2005 to build a diversified E&P business in Russia Motivated management team with proven experience of exploration, production and corporate Overview development in Russia and abroad…
Regional Location Map West Siberian Oil & Gas Basin Discovered Reserves Barents 144 billion bbls of oil Urengoy Gas Field 1,300 TCF gas Sea 350 TCF original reserves Licence 61 (Ryder Scott Evaluation 1 Jan. 2011) West…
Tomsk Oblast PetroNeft 67 Tomsk Oblast Very Active Region Rosneft, ONGC/Imperial Energy, TNK-BP, Gazprom, Gazpromneft, local companies PetroNeft Resources plc 6
Licence 61 Field Development Programme
Development Plan January 2011 First Phase - Lineynoye and West Lineynoye 2010 programme: Construction of 60 km pipeline, oil processing/storage facilities completed WL and Lineynoye 9 oil production wells and 1 water source…
Lineynoye Field - February 2011 Drilling Pad 3 Drilling Pad 2 Drilling Pad 1 Central Processing Facilities Lineynoye Camp PetroNeft Resources plc 9
Pad 1 Frac Design Grouped by Size Northwest Southeast Well 116 114 113 115 1 111 112 6 109 110 117 net pay m 17.9 15.8 14.7 14.0 15.4 16.0 12.0 11.4 10.2 8.9 10.80 Frac FracSize tons 80 35 30 30 50 35 50 12 8 tons Length m 149 96…
Pad 1 Frac Results wells 109 and 115 700 Well 109 50 ton 109 153 metres 600 115 500 Pre Frac Post Frac (Bopd) (bopd) 400 RateRate Well 115 Oil Production 30 ton 87 metres Oil Production 300 200…
Lessons Learned Formation damage from the drilling and completion processes varies between wells Hard to predict the initial production rate prior to fracture stimulation The fracs were individually designed to avoid fracturing into…
Lineynoye Development Schematic Jan. 2011 Oil-Down-To from L-5 -2,417 m J11 206 205 209 208 207 201 Central 204 Pad 2 Processing 331 116 203 Facility 202 114 332 115 L- 1 333 113 334 117 Pad 1 112 111 335 Slant Hole…
Lineynoye Revised Structure Map June 2011 Base Bazhenov Horizon Structure Map June 2011 contour interval 5 m Ryder Scott Field Limits red outline SPILL June 2011 Field Area shown in green Structure filled to below 207 the spill…
Lineynoye Revised Structure Map June 2011 Base Bazhenov Horizon Structure Map June 2011 contour interval 5 m Ryder Scott Field Limits red outline SPILL June 2011 Field Area shown in green Structure filled to below 207 the spill…
Outlook Production Q1 2012 Production target has been reduced to a range of 4,000 to 5,000 bopd, This is primarily the result of thinner net oil pays than expected on Pad 3 (J 11 reservoir only, J12 present but not oil saturated) As…
Reserves and Resources Oil Fields Proved Proved and Proved, Probable 2P NPV 10% Probable and Possible 1P mmbo 2P mmbo Base Case (1) 3P mmbo Licence 61 Lineynoye field 5.15 22.74 131 million 28.47 West Lineynoye field 2.71 23.32 82…
Sibkrayevskaya 370 J11 is identified in 2,454.6-2,463.0 m. The formation thickness is 8.4 m. SP and resistivity curves are of block shape which is typical of oil J11 bearing zones in Tomsk Region. No hydrocarbons reported in…
L61 Lineynoye, Kondrashevskoye & Arbuzovskoye North Varyakhskaya Exploration Well Lineynoye Oil Field Facilities Quality reservoir high value reserves Central Process Facilities Quick tie-in to Lineynoye Facilities Oil Storage…
L61 Lineynoye, Kondrashevskoye & Arbuzovskoye North Varyakhskaya Exploration Well Lineynoye Oil Field Facilities Quality reservoir high value reserves Central Process Facilities Quick tie-in to Lineynoye Facilities Oil Storage…
L61 Northern Fields Development 0 1 2 3 4 5 6 km Kondrashevskoye Delineation Planned 2011 Northe Varyakhskaya Prospect Lineynoye look-alike Quick tie-in to Lineynoye Facilities 2012 Reserves estimated at 5 million bbls Likely…
Emtorskaya High Prospects 0 2.0 4.0 6.0 8.0 10.0 km Emtorskaya 300 - J11 absent Emtorskaya 303 TGK log re-evaluation J11 - 1.9 m oil and J12 3.2 m potential oil Reserves estimated at 6.3 million bbls Prospect not included in…
Licence 67 Exploration Summary Auction Block acquired in 2010 for 1.42 million 25 year Exploration and Production Licence - expires 2035 Large 2,447 sq. km. Block surrounded by oil and gas fields including two producing fields within…
Licence 67 (Ledovy) Updated Seismic map Ledovy Block Structures and Traps 6 Oil Fields and Oil Tests Prospects 2 Drilled Structures - Dry and under review 15 7 Structure Name Main Objectives 5 Drilled Structures Ledovoye Oil…
Cheremshanskaya Prospect Cheremshanskaya No. 1 Cheremshanskaya No. 2 Cheremshanskaya No. 3 to parallel No. 1 well J11 J11 possible J13 oil J13 water SP SP Cheremshanskaya No.1 (1962) - High resistivity values in J13…
L67- Ledovoye Oil Field Structure Map on Base Bazhenov Horizon North Ledovoye Oil Field Contour Interval 10 meters North Ledovoye Oil Field Under development by MOL Group subsidiary Matyushkinskaya Vertikal Ledovoye Oil…
Investment Highlights
Building our Reserve base Track record of Reserve Growth: Licence 61&67 2P Reserve Growth Licence 61&67 3P+P4 Reserve Growth 1 120 700 640.69 96.93 100 600 14.02 156.17 million barrels million barrels 80 70.84 13.24 500…
Investment Highlights On production with steady production growth forecast Developments Projects delivered on time and on budget Ongoing Production Drilling Programme continuing in 2011 and beyond Total Licence 61; 2P Reserves of…
Summary Summary Now a producing company with all necessary infrastructure in place Only producing from less than 10% of our current reserve base Focus on near term production and cash flow We will have surprises during development…
Appendices
Corporate Information Share Capital * Trading details Exchanges: Ordinary Shares in issue: 416,098,432 AIM Market (London Stock Exchange) Share options outstanding: 16,764,000 Warrants outstanding: 6,200,000 ESM Market (Irish Stock…
Board of Directors G. David Golder Non-Executive Chairman 34 years industry experience with Marathon Oil Company, Sakhalin Energy and others Dennis C. Francis Chief Executive Officer and co-founder Headed Marathons Business…
Experienced Management Team Karl Johnson (Houston) Vice President of Business Development and Operations 30 years experience in oil and gas business internationally including Russia Formerly with Marathon Oil Alexey Balyasnikov…
Contacts PetroNeft Resources plc DAVY Nominated Advisor and Co-Broker John Frain john.fraindavy.ie Dennis Francis, CEO +353 1 614 8761 10333 Harwin Drive, Suite 518 Houston, TX 77479, USA Brian Garrahy brian.garrahydavy.ie…
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