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SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited

Trinity Exploration and Production Limited · Sep 10, 2013 · 15 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 1
    Corporate Update E X P L O R AT I O N & P R O D U C T I O N September 2013 EXPLORATION & PRODUCTION
  2. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 2
    Executive Summary Financial Strengthened the balance sheet Generated strong operating cash flows Increased financial flexibility with new US25 million undrawn debt facility Work programme fully funded Operating Grew production, led by…
  3. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 3
    H1 2013 Income Statement Summary H1 2013 Production bopd 3,524 Net revenues (after royalties) USmm 37.8 Impacted by slower than expected production Production costs USmm (17.4) growth at Trintes field G&A USmm (4.6) DD&A USmm (6.3)…
  4. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 4
    Cash Flow Summary Profitability at Trintes impact by generator outage in February, delays to the drilling schedule and investment in HSE. OCF further impacted by various 140 oneoffs related to the merger Exploration: 0.9m…
  5. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 5
    Production Review 4,500 4,000 4,000 3,524 3,500 3,187 3,000 2,500 2,290 boepd 1,997 2,000 1,852 1,500 1,075 950 1,000 760 851 484 452 500 0 West Coast Onshore East Coast Total H1 2012 H1 2013 Current…
  6. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 6
    West Coast MP-8 Before H1 net production: 452 bopd Current net production: c. 760 boepd New deck installed at MP8 platform ahead of 7 well work over programme Demonstrates Trinitys business model Technical: significant investment…
  7. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 7
    Onshore 2013 onshore production H1 net production: 1,997 bopd 2,500 Current net production: c. 2,300 bopd 2,300 Backtoback drilling has delivered strong production 2,100 growth bopd 1,900 8 new wells brought onstream in 2013…
  8. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 8
    East Coast H1 net production: 1,075 bopd Current net production: c. 950 bopd Issue Description Action plan and status Power supply Poor power resulted in New gensets ordered, specifically damage to pumps and designed for Trintes…
  9. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 9
    2013 Production Outlook Following challenges at Trintes, Trinity is revising its production guidance to 4,200 4,500 boepd (net) exit rate for 2013 Production from Trintes deferred and not lost all issues have been topside not…
  10. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 10
    2013 exploration 2 wells targeting 30mmbbl GAL25 El Dorado Timing WI Net cost Net Unrisked CoS (%) Resources El Dorado Q4 2013 70% US7m 9.4 mmbbl 51% GAL25 Q4 2013 65% US18m 20.7 mmbbl 2064% 2 wells in H2 2013 exposing…
  11. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 11
    El Dorado Exploration Well Trinity 70% working interest Estimated well cost of US7 million (Trinity pays 100%) TD of 6,138ft targeting 5 different horizons MP8 platform WS152 matsupported jackup contracted Rapid development…
  12. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 12
    GAL25 Exploration Well Trinity 65% working interest Estimated well cost of US18 million (Trinity 100%): Rowan Gorilla III secured for Q4 2013 Vertical well drilled to 6,500ft testing 9 stacked sands: key targets are M, N & O sands…
  13. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 13
    Fiscal Reform New capital allowances introduced in 2014 budget following extensive lobbying by Trinity and broader industry Onshore wells Assuming conservative planning case assumptions: US85/bbl, US1.5mm well cost, an IP of 60…
  14. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 14
    Conclusion Financial Strengthened the balance sheet Generated strong operating cash flows Increased financial flexibility with new US25 million undrawn debt facility Work programme fully funded Operating Grew production, led by…
  15. SEPTEMBER 2013 CORPORATE UPDATE – Trinity Exploration and Production Limited – slide 15
    EXPLORATION & PRODUCTION Trinidad & Tobago office UK office SSL Building, 4044 Sutton Street, 23 Melville Street San Fernando, Trinidad, W.I. Edinburgh PO Box 3519 La Romain EH3 7PE Tel: +1 868 653 4369 Tel: +44 131 240 3860…

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