Table of Contents 1. Overview 2. 2012 Field Review 3. Development Plan 4. Financing Plan 5. 2012 Financial Review 3
1. Overview 4
West Siberian Producer with Significant Reserve Base Large on-shore reserve base Proved reserves of 234 million boe Ruspetros blocks Neighbouring blocks 2P reserves of over 1.8 billion boe Krasnoleninsky Arch (c.17mn boe of…
Reserves of International Oil and Gas Companies Compared 1P reserves (mmboe) As per the latest company update, unless stated otherwise 2P reserves (mmboe) As per the latest company update, unless stated otherwise 1,838…
2. 2012 Field Review 7
2012 Objectives Reviewed Build a team to efficiently develop, produce and sell hydrocarbons Develop the sales, treatment and access infrastructure required Improve reserve quality by increasing the proved category Develop…
2012 Results Summary Full year EBITDA of negative US6.2 million, Q4 2012 EBITDA positive at US2.4 million 2012 2011 Change % Revenue (USm) 76.23 38.72 +97% Well head revenue per barrel (US/boe) 24.50 19.83 +24% Oil and…
Crude Oil: 2012 Development Review Cross Section 3 Wells Pad 19: More compartmentalized, variable quality 10
Log comparisons 254b, 233, 260 Average reservoir quality: = 13.8% Net pay: 17.7 m Initial production rate: Qoil = 62.7 m3/day Average reservoir quality: = 14% Net pay: 18 m Initial production rate: Qoil = 320.54 m3/day…
Resolution improvements after Reprocessing - along northern flank of P-I 242 248 239 246 237 24 1 West NE North PAD 021 12
Well 460 (1992) western side of V-I License (north of Pad 25) Crestal location, limited reservoir, 3.3M3/D oil from poor UK4 Reprocessed seismic indicates prospective flank positions Poor Imaging: Unclear structural stratigraphic…
Crude Oil Waterflood Progress - Injection wells - Production wells with Waterflood Response 2012 4 wells converted 2013 4 wells to be converted 14
Waterflood Response Wells 230,236 Start Well 22 Start Well 224 140 Injection Injection 70 120 60 100 50 Pump Inlet Pressure, bar Oil Production, m3/d 80 40 Oil production 230, m3/d Decline 230 60 30 Pump Inlet…
Gas/Condensate Review Basement Structure Map sloping talus Source 1 width of the trough Source 2 sloping talus 16
Gas/Condensate Review (contd) 17
Condensate Yield Condensate Yield vs. average reservior pressure 450 400 350 300 Yield, scm/MMscm 250 Current average Pressure 200 150 100 50 0 50 70 90 110 130 150 170 190 210 230 250 Average reservior…
Average Reservoir Pressure (atmospheres) 19
2012 Field Delineation Summary Discovered 171 million boe (2P) Gas/Condensate play in the north of the field Identified varying permeability across the field requiring different drilling and completion technologies Increased…
Pad 19, 21, 23b. UK2-3 Pad 32. Pad 27. UK8-10 UK2-WZ Prospectivity Map of the Field Pad 25. UK1 (Abalak) UK2-3 Pad 19, 21, 23b. Legend UK2-3 Pad 3. Pad 27. UK8-9 UK2-WZ Proved developed Proved undeveloped Vikulov Pad…
3. Development Plan 22
Current Portfolio and Development Plan Current Reserves Production Development Plan (boe) (boepd) Appraise highly prospective western area of the field in Pad 23 area Use fit for purpose technology for lower permeability areas of…
Crude Oil Development 2013 Pad 23 Appraisal Use 2012 well log data to refine approach to drilling in 2013 Reprocess existing seismic data and refine geological model Design fit for purpose drilling and completion techniques for…
Gas/Condensate Development 2013 Drilling to further characterize gas/condensate reservoir in advance of gas sales sloping talus Source 1 width of the trough Source 2 sloping talus 25
Gas/Condensate Development (contd) 26
Ruspetros Bazhenov Shale Oil Position Bazhenov relative size vs. global shale The Bazhenov shale oil unconventional resource is one of the richest source rocks globally covering 2.3mn sq km in West Siberia. Ruspetros license areas…
Preliminary Bazhenov Shale Characterization Top Bazhenov Structure (3D, 2D & wells) Commissioned a report by DeGolyer & MacNaughton to assess the potential volumes of the Bazhenov Shale of the Krasnoleninskoye field. Initial…
Ruspetro: Enhanced Business Model Post Construction of GTF 27km RPO Pipeline Transneft Oil Treatment Crude System Exports / Facility / Oil End Storage Tanks Customers Crude Oil Wells Railway Associated End Railway Gas…
4. Financing Plan 30
Market vs. Fundamental Value Value Gap: Market EV and 2P c.9,900mn 10,437 mn Value Gap: Market EV and 1P - c.600mn 1,157 mn 500 mn (1) (2) (2) Current Enterprise Value 1P Valuation 2P Valuation Driven by low production…
Closing The Gap: Strategic Timeline Financial Monetisation of Develop Crude Restructuring Gas Business Oil Restructuring of Steps for gas Gas revenues to finance Sberbank debt monetisation crude development Extension of existing…
Gas Commercialisation Situation Overview 30,000 21,127 1,000,000m3 20,000 D&M Reserves 10,000 4,932 2,337 0 Proved Probable Possible Associated gas production is currently 1.6 million cubic meters per day (c.9,000 boepd)…
Financial Strategies for Gas Monetisation Own Plant Existing Regional Plant Build own gas processing plant and Process gas using processing plant of Description pipelines another company Capital Expenditure Plant and pipeline…
Financial Strategies for Development of Crude Oil Partnerships Financial Farm-in Structure Financial investors International service companies International service companies Target Audience (drillers) International and local oil &…
5. 2012 Financial Review 36
2012 Cash Flow 31 December 2012 cash balance of US34.4 million 250.0 213.7 7.5 1.3 106.6 200.0 150.0 69.2 100.0 50.0 34.4 3.9 1.3 0.0 Opening Cash IPO Proceeds Operating Cash Change in Capex Loans and Currency…
Financing Overview 2012 Year-End Current Debt Structure Restructuring - Currently Under Negotiation 350.0 Restructuring of Sberbank Debt 289.1 300.0 Discussions underway to extend the maturity of 250.0 200.0 current debt m…
Closing The Gap Restore Financial Monetisation of Development Of Share- Restructuring Gas Business Crude Oil holder Value 40
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