Canaccord Genuity Global Energy Conference Pradeep Kabra, President & CEO - November 2010 A Lundin Group Company
Cautionary Statements 2 This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as…
A Lundin Group Company A Lundin Group Company
Kurdistan 4 Kurdistan Region is an autonomous region in Federal Iraq Area 40,000 sq kms Population 5 million Geographically diverse No significant security issues Citadel in Erbil is said to be the longest continually…
Kurdistan The New Frontier 5 Geologically Kurdistan lies within the northern extension of the Zagros fold belt large anticlinal structures Proven petroleum system Large structures with stacked reservoirs Multi-billion barrel…
Kurdistan - Regional Update 6 High Activity Level & Success Rate 40 PSCs awarded 32 companies from more than 14 countries 22 rigs in country 14 wells currently operating World class successes 73% success rate for finding oil…
Kurdistan PSCs - Success to Date 7 15 Exploration Wells, 11 Successful for Oil (COS = 73%): DNO: Tawke (Tertiary & Cretaceous) - 230 MMBO EUR producing 20,000+ bopd to local market DNO: Hawler aka Benenan field (Jurassic) - Est.…
ShaMaran Assets: Pulkhana 9 Acquired, processed & interpreted 291 line-kms of 2D seismic (vs. 250 line-km commitment) Pulkhana structure seismically defined Appraisal well location Pulkhana-9 approved. Civil works completed…
Pulkhana Field - Third Party Auditor Resources 10 Discovered Oil In Place Low Best Mean High (MMBO) (1C) (2C) (3C) Euphrates / Upper Jaddala 29.5 109.0 174.8 396.6 Shiranish 31.7 141.3 238.8 548.9 Total 413.7 Contingent Reserves*…
Pulkhana Forward Plan 11 Commence Pulkhana-9 well Early January 2011 Complete Pulkhana-9 well Q2 2011 Workover Pulkhana-8 well Q1 2011 Initiate Long Term Testing through EPF Q3 2011 Plan Pulkhana-10 & -11 wells for 2012 2D…
Arbat On Structural Trend to Miran 12 5 structural leads identified by studies pre-seismic in the plains area have been confirmed by the seismic programme. Additional leads suggested (pre- processing) The mountains in the NE…
ShaMaran Assets: Arbat 13 Acquired 429 line-kms of 2D seismic (vs. 350 line-km commitment) 2D survey extended due to structural complexity and potential leads. Acquisition completed 2nd October - Processing by end November…
Arbat New Oil Seeps 14 Seeps associated with surface features Shallow water wells contaminated by seeping oil A Lundin Group Company
Geochemical Results to be used for Derisking Prospects 15 A Lundin Group Company
Arbat - Forward Plan 16 Complete processing & interpretation by year end Integrate geochemistry survey results McDaniel potential resources in early 2011 Recommend drilling location(s) early 2011 Commence first well (H2…
K42 Prospect 18 Prospect 4-way dip closure of more than 80 km2 On trend to Jambur, with stacked reservoirs Jeribe Euphrates / Kirkuk Group Jaddala Shiranish Deeper closures below 4km may not be viable targets due to depth…
K42 - Forward Plan 19 McDaniel potential resources report Commit to converting Option Agreement to PSC Convert to PSC in Q2 of 2011 Drill first well in 4th Quarter 2011 A Lundin Group Company
Atrush - Significant New Asset Added to Portfolio 20 One third shareholding in General Exploration Partners (GEP) operator of the Atrush block. Deal announced 30th August 2010 Estimated Mean Potential STOIIP in the 1.9 4.2…
Regional Surface Structure & Drilling Activity 21 HKN Energy Swara Tika- Tika-1 ATRUSH--1 ATRUSH Sheikh Adi Spudded 5th October Drilling Oil shows announced MOL: Bekhme-1 Bekhme- Shaikan 4.2 BBO 1.5 TCF Hunt…
Summary of Atrush Potential STOIIP & Resources 22 Consolidated STOIIP (MM STB) P90 P50 P10 Mean Total Potential Resources P90 P50 P10 100% basis 100% basis Fracture Porosity only 295 1372 3946 1872 Oil Recovery Factor from 33% 40%…
Atrush--1 Atrush 23 Atrush-1 spudded 5th October Structural feature just 13km NE of the Shaikan discovery well, and 7km SW of the HKN Energy Swara Tika well (operating). Viking I-10 Rig on Location Atrush-1 is similar to the…
Atrush - Forward Plan 24 Fault & Fracture Outcrop Complete Atrush-1 exploration well Evaluate & plan for second well A Lundin Group Company
Technical Summary 25 Significant potential demonstrated in all four ShaMaran assets: Pulkhana: Proven oil for appraisal & development K42: Significant prospect on trend to Jambur field Arbat: Numerous structural features and…
Health, Safety & Environment (HSE) 26 Good working relationship with local authorities, communities in the area Excellent Corporate HSE record with no Loss Time Incidents (LTIs) No security incidents in the area of operations…
Financials 27 Robust financial position at Sep 30, 2010 Cash balance of approx 70 million Sufficient funds on hand to satisfy current work programs which includes two high profile wells A Lundin Group Company
Corporate Profile & Contacts 28 Symbol TSX V: SNM Share Capital (as of September 30, 2010) Issued and outstanding 623,157,194 shares Fully diluted 627,592,194 shares Directors and Management Keith Hill, Chairman of the Board…
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