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CORPORATE PRESENTATION – Bankers Petroleum Ltd.

Bankers Petroleum Ltd. · Oct 1, 2014 · 31 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. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 1
    October 2014 Corporate Presentation TSX AIM: BNK
  2. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 2
    Company Overview Bankers Petroleum Ltd. is an international E&P company with operational focus in Albania. Stock Exchange Symbol: BNK TSX Toronto AIM London Total Shares 261 Million (281 Million fully diluted) Share Price 5.01 (as of…
  3. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 3
    Asset Overview- Albania Patos-Marinza Oilfield Largest onshore oilfield in Europe 100% W.I. and operatorship 220 Million Barrels 2P Reserves Kuova Oilfield 100% W.I. and operatorship 12 Million Barrels 2P Reserves Drilling…
  4. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 4
    Investment Highlights 232 Million barrels 2P Large Primary Reserves 5.4 Billion barrels OIIP Strong Record of Production Q3 2014 average production Growth 21,865 bopd Horizontal wells NPV 3.0 Million, Attractive Well Economics…
  5. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 5
    History of Patos-Marinza Patos-Marinza was first discovered by APOC (Anglo Persian Oil Co.) and developed in stages by 1928 1990 Russians and Albanians. 1990 Fall of Communism in Albania AAP (Anglo Albanian Petroleum, a partnership…
  6. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 6
    Patos-Marinza Average Quarterly Production 22,500 20,000 17,500 Horizontal Wells: 390 15,000 Production (bopd) 12,500 10,000 7,500 5,000 Vertical Wells: 120 2,500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
  7. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 7
    Bankers Development Strategy 22,500 20,000 17,500 Production (bopd) 15,000 12,500 10,000 7,500 Sub-surface understanding of Pad drilling, 6 rigs legacy wells (water intrusion) Consolidate & optimize cost…
  8. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 8
    Engineered Momentum 10 15% annual production growth Execute Drilling Expanded to 6 drilling rigs in Q1 2014 Program Drill 150 - 170 horizontal wells in 2014 Optimize treating process and sourcing to reduce diluent costs Expand…
  9. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 9
    Reservoir Characteristics & Development Strategy Composite Type Section Primary Development I Horizontal Drilling & Reactivation of Existing Tertiary Development 510 API Wells Gorani Secondary and Tertiary…
  10. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 10
    Reserves Allocation Depth: 2000 m Core Area 2013 Oil initially in place (OIIP) 1.7 Bbbls Recovery to date 131 Mbbls Recovered by Bankers 29.8 Mbbls (23%) Remaining booked 160 Mbbls Total Recovery using Primary Techniques 17%…
  11. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 11
    Reserves Value / Metrics December 31, 2013 Reserves 147 Mbbls 232 Mbbls Patos-Marinza 144 Mbbls 220 Mbbls Kuova 3 Mbbls 12 Mbbls Reserve Life Index 22 years 35 years Net Present Value 1,216 2,240 at 10% After Tax (Millions) Per Share…
  12. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 12
    Development Program Historical Drilling Program by Zone 2014 locations in red Gorani Upper Driza 519 horizontal wells drilled to the end of Q3 2014 (includes 23 lateral redrills) Pad drilling across 15 zones 995 future horizontal…
  13. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 13
    Horizontal Well Performance Average Horizontal Well Profile 120 480 Oil Rate 3P recovery case 100 2P recovery case 400 1P recovery case Well Count Producing Well Count 80 320 Oil Rate (CD, bopd) 60 240 40 160 20…
  14. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 14
    Water and Polymer Injection Water flood Implementation 1st Waterflood pattern initiated early Q2 2013 3 injection wells in the Upper Marinza (M0) formation at the end of Q3 2014 Initial patterns in 10 700 cP viscosity range Polymer…
  15. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 15
    Illustration Type Curve Early Stage 250 Oil rate plateau for 4-8 months Oil rate peak response (increasing water production Fully Supported Producer rate during period) 200 1 well converted at 12 months ( 50 bopd) Oil Rate…
  16. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 16
    EOR Pattern Performance M0 Water flood Patterns (10 250 cP) D5 Polymer Patterns (700 1,400 cP) 300 250 250 200 Oil Rate (bbl/d) Oil Rate (bbl/d) 200 150 150 100 100 50 50 0 0 0 10 20 30 40 50 Time from Start of…
  17. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 17
    Incremental EOR Production M0 Water Flood D5 Polymer Flood 700 500 450 600 400 500 350 Oil Rate (bopd) 370 bopd Oil Rate (bopd) 300 350 bopd 400 250 300 200 200 150 100 100 50 0 0 Jul-13…
  18. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 18
    Water and Polymer Flood Early Stage Results We are strongly encouraged by the results and will continue to expand the water and polymer flood pilots to test additional areas of the field and reservoir zones with 13 conversions in 2014…
  19. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 19
    The Science Behind Steam 2000 m Core Flood & Simulation Conducting core testing and analysis in the south for integration with mapping to identify thermal expansion areas Future tertiary development would likely require cyclic…
  20. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 20
    Enhancing the Value of Patos-Marinza Natural Gas for Tertiary Development Block F Bankers elected to progress into Second Exploration Period of license in November 2013; have acquired 3D seismic on the block in 2014 Trans Adriatic…
  21. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 21
    2014 Capital Program Fully Funded 313 million budget Primary Development 285 Million 6 drilling rigs, 150 170 wells to be drilled in 2014 Drilling, Reactivations Workover and reactivation program and Workovers Water Control…
  22. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 22
    Strong Balance Sheet LIQUIDITY at June 30, 2014 Working capital of 191 Million; CASH of 55 Million Credit Facilities Facility Utilized Available Raiffeisen Bank 20 Million 0 Million 20 Million IFC / EBRD* 204 Million 104 Million 100…
  23. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 23
    Fiscal Terms Term 25 year term to 2029 with multiple 5 year extensions Royalties Blended average 17% decreasing to 14% over the next 5 years 10% Government Mineral Tax 1% Albpetrol Share of Production ASP 3% after 1x cost recovery…
  24. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 24
    Off-take Infrastructure CTF ARMO Refinery 25,000 Preliminary approvals underway 10,000 bopd refining bopd capacity treatment for 35 km pipeline along the under new management capacity, highway connecting the Fier Hub currently…
  25. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 25
    Netbacks Netback (/bbl) 60 2012 2013 H1 2014 Q2 2014 Brent 111.67 108.66 108.93 109.67 Sales Price 79.73 85.39 87.00 86.68 50 (% of Brent) (71% ) (79%) (80%) (79%) Royalties 14.46 14.22 12.99 12.80 40 Transportation 2.38 2.44…
  26. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 26
    Cost Structure Improvements Cost Potential Category Q1 2013 Q2 2014 Savings On-going Initiatives Savings (2-3 years) Produce lighter oil 0.50 - Proactive tank turnarounds Diluent 7.12 4.80 2.32 Optimize workovers 1.00 Optimize…
  27. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 27
    Surface Infrastructure Optimization Lease Construction Satellite Treating Well Pad Tie ins, Treating, Testing, Sour Production Facility Handling, Control & Automation Gathering System (Pad D/H, Sat 3) Water Disposal…
  28. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 28
    Health, Safety, Environment & Community Relations Environmental Clean-up and remediation Meeting International standards Previous Albpetrol well Economic Health & Safety Health, Safety, Development Creating safe work…
  29. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 29
    Management Team David French Rob Carss President & CEO VP, HSSE Doug Urch Leonidha obo Executive VP Finance VP & General Director & CFO Albania Suneel Gupta Mark Hodgson VP, Business Executive VP & COO Development Bayne…
  30. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 30
    Board of Directors Private investor; over 20 years experience financing companies in the resource sector and is Robert Cross, Chairman on the board of several Canadian energy and mining companies Retired from President and CEO of…
  31. CORPORATE PRESENTATION – Bankers Petroleum Ltd. – slide 31
    Analyst Coverage Canaccord Genuity Christopher Brown Jennings Capital Mark Heim Industrial Alliance Cormark Securities Garett Ursu Amin Haque Securities Credit Suisse David Phung RBC Capital Markets Al Stanton FirstEnergy Darren…

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