Latest News Proven Performance with Room to Run September 2014
Corporate Overview Total Shares (June 30, 2014) 78,629,941 (fully diluted: 78,629,941 excluding out of money options) Long Term Debt (June 30, 2014) US15.4 million Working Capital Deficit (June 30, 2014) US11.7 million, including…
Ukraine Assets Acquired 70% of KUB-Gas LLC1 in June 2010 Maximum System/Series/Stage Lithology Thickness (m) 5 operated licences in the prolific Dnieper Donets basin Upper 1,500 Moscovian Middle Excellent commodity prices…
Ukraine: Reserves1 and Netbacks 1P 2P 3P Reserves Reserves Reserves Total (Bcfe) 28.6 54.4 95.4 (MMboe) 4.8 9.1 15.9 NPV10 After Tax (MM) 111.2 198.6 320.4 Per Share (USD/sh) 1.41 2.53 4.08 Reserve Life Index (years) 3.7 7.1 12.4…
New Royalty Regime New temporary royalty regime signed into law on August 1st New Rate Previous Rate Gas 55% 28% Condensate/Liquids 45% 42% In effect from August 1, 2014 to January 1, 2015 (five months) Gas from new wells (after…
Ukraine: Prospective Areas Room to Grow NM-3 Visean Oil 2014 Program O-15 Serpukhovian Discovery July 2013 Gas Discovery - July 2013 3 well program (including M-17) Two development wells o M-17 (successful appraisal to M-16) NM-3 o…
Ukraine: Stacked Pay Increases Chance of Success M-16 M-17 Early wells in the field penetrated only the shallower Moscovian and Bashkirian aged reservoirs R30c 15 m, Resource Potential Recent wells (M-16, M-17, O-11 and others)…
Ukraine: Growth & Forecast Production Actual Risked Forecast (+/- 10%) 30 Mmcfe/d (SEN 70% WI) 25 Production Growth 59% CAGR 19% production 20 growth over YE 2013 15 10 First Year: Constructing 5 Development Program…
Ukraine: Current Work Schedule 2014 2015 Well1 Target Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar M-17 S5, S6 , S7 Appraisal of M-16 Assumed work resumption in October O-11 R30C, S6 Development NM-4 M4 Channel…
Ukraine: Has Been A Great Investment Serinus purchased its 70% interest in KUB-Gas LLC for 45 million in June 2010 Gross capital investment has been 116 million. First 21 million funded by EBRD Gross Cash Flow Q3/10 Q2/14 Cash Flow…
Tunisia Assets Acquired Winstar Resources in June 2013 5 concessions throughout Tunisia1, all operated, 100% WI except for Sabria (45%) Production of 1,311 boe/d (Q2 2014) 2P and 3P reserves of 11.5 MMboe and 23.9 MMboe2 Development,…
Tunisia: Reserves1 and Netbacks 1P 2P 3P Reserves Reserves Reserves Total (MMboe) 3.74 11.48 23.89 NPV10 After Tax (MM) 77.7 207.5 345.3 Per Share (USD/sh) 0.99 2.64 4.39 Reserve Life Index (years) 7.5 23.0 47.8 Future…
Tunisia: Sabria History 347 MMbbl of OOIP1 4.6 MMboe (gross) produced to date (0.9% RF) 2P/3P reserves of 6.3/15.5 MMboe2 Legend New drills Re-entries Proposed drilling 1. Gross, P50 volume as per independent 3rd party…
Tunisia: Sabria Development Winstar-12bis: Spud July 17, 2014 US14.4 million gross / US6.5 million WI Expect 71 days to drill Roll over prospect Full Hamra and El Atchane penetration FNG-1 analog Targeting 1.98 MMbbl Probable…
Tunisia: Longer Term Potential More Room to Grow Sabria 2015 3D seismic Current 2P reserves of 4.7 MMBbl (4 current producing acquisition wells and 4 new wells) plus production to date implies overall recovery factor of 2.2% of 347…
Chouech Es Saida/Ech Chouech Stacked Play Inventory Triassic Oil Development (2,200 2,350 m) CHOUECH ES SAIDA Cumulative production to date from the Triassic TAGI 172 km * sand is approximately 4.8 MMbbl of oil Individual wells up…
Tunisia: Current Work Schedule 2014 2015 Well * Target Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Winstar-12bis Hamra Winstar-13 Hamra Workovers Seismic Re-Processing 3D Seismic Development Drilling Workovers,…
Romania: Exploration Upside Satu Mare Permit Romania Licence History 2014 Work Program Highlights Farmed-in in 2008 Drilling of 2 exploration 765,000 acres onshore Romania wells at Moftinu on trend with discovered oil /…
Romania: Moftinu Pliocene Gas Play Pliocene Channels Moftinu 1000: Drilled in 2012 as a twin to an older well that had pay on logs Tested 1.3 MMcf/d from 2 sands outside the channel system Subsequent 3D seismic showed that…
Why Serinus 23
Fully Funded Active Work Program 2014 2015 Well * Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar M-17 Assumed work resumption in October O-11 NM-4 M-22 Ukraine M-15 M-18 Stimulations Facilities…
Valuation Geopolitical headlines from Ukraine are dominating trading value Market is implicitly assigning negative value to the Ukraine assets Market Capitalization Net Asset Value (MM) Current Share Price (Sept 10, 2014) C1.90…
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Appendix 27
Property Types, Terms and Conditions Property Working Interest VAT Liquids Royalty3 Gas Royalty3 Income Tax Ukraine 70% 20% 45% (net of VAT) 55% (net of VAT) 18% (All Licences) Chouech Es Saida 100%(1) - 15% 15% 35% (Permit)…
Serinus Directors Helmut J. Langanger (Vienna) Director, Chairman Retired, formerly Group Executive Vice President EP, member of the Executive Board, and Managing Director Upstream for OMV Group. Also served as Managing Director at OMV…
Analyst Coverage Canaccord Genuity Christopher Brown FirstEnergy Capital Stephane Foucaud Macquarie Capital Brian Bagnell Maison Placements Josef Schachter 31
Defined Terms Net operating cash flow: working interest share of oil and gas sales, less royalties and production expenses and in- country G&A, before corporate G&A expenses and income taxes Operating netback: net operating cash flow…
Contact for Investors For further information, please refer to the Serinus Energy website www.serinusenergy.com or contact us directly: Mr. Norman W. Holton Mr. Gregory M. Chornoboy Mr. Jakub Korczak Vice Chairman Director Capital…
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