ORYX PETROLEUM: AN UPSTREAM LEADER IN AFRICA & THE MIDDLE EAST October 2014
AN AFRICA AND MIDDLE EAST FOCUSED INDEPENDENT E&P COMPANY Founded in 2010 by The Addax & Oryx Group (AOG) Six License Areas Previously established, developed and sold Addax Petroleum Two discoveries of oil reserves made in 2013…
IMPLEMENTING A PROVEN STRATEGY Focus on Africa and the Middle East Known hydrocarbon basins Management experience and relationships Lead with in-house technical expertise Substantial equity positions Operatorship / technical…
HAWLER LICENSE (KURDISTAN REGION OF IRAQ) Gross (100%) (MMbbls) (1) Unrisked Contingent Oil Prospective Oil Oil Reserves Resources Resources Discovery: Feb 2013 Discovery: Oct 2013 Field 1P 2P 3P 1C 2C 3C Low Best High Demir…
DEMIR DAGH APPRAISAL AND DEVELOPMENT Five wells drilled including Demir Dagh-2 discovery well Two deep wells to evaluate all reservoirs (Demir Dagh-2 & 3) 2 Planned Wells 2 Planned Wells Three shallow wells to Cretaceous BAN-2…
DEMIR DAGH: ILLUSTRATIVE NEAR TERM PRODUCTION PROFILE 100000 bbl/d Achieved first production on target in Q2 2014 90000 Current gross (100%) production of 5,000 bbl/d 80000 All sales into domestic market realised 60/bbl 70000…
HAWLER NEAR TERM NETBACKS Illustrative Netback (/bbl) Contractor Profit oil and Oryx Petroleum capacity building payment assumes Contractor Netback R…
KURDISTAN SALES DYNAMICS Domestic Sales: Well established and growing market ITP 40 & 46 pipelines KRI - Turkey 24/36 oil pipeline Taq Taq - Khurmala 20 oil pipeline 600 & 900 Mbbl/d capacity 300 Mbbl/d initial capacity 150-200…
ZEY GAWRA AND AIN AL SAFRA APPRAISAL Zey Gawra (ZEG-1) Discovery December 2013 discovery in the Cretaceous 2P Reserves(1) of 71 MMbbls in Cretaceous Max sustained rate of 4,800 bbl/d of oil for a 15 hour period of 35 API crude(2)…
AGC SHALLOW (SENEGAL / GUINEA BISSAU) Working petroleum system with two shallow heavy oil discoveries in the 1960s Deeper targets prospective for lighter oil facilitated by proven seismic technology Sub-salt related structural…
HAUTE MER A & HAUTE MER B (CONGO (BRAZZAVILLE)) Wells Planned Est Spud: late 1H 2015 Discovery Haute Mer A Elephant Discovery Tested: Feb 2014 Successful testing program confirmed reservoir quality and fluid…
FULL YEAR 2014 CAPITAL EXPENDITURE FORECAST 2014 Capital Expenditure Forecast (mm) Balance of 2014 Capital Expenditures Seismic 180 to 220 million & Location License Drilling Facilities Studies Other Total 3 rigs in Hawler Iraq…
2014 SOURCES AND USES OF CASH 200 July offering proceeds and cash on hand to meet funding requirements into 2015 180 Cash flow from sales would further 160 strengthen funding position Assumes full activity levels on Hawler 140…
A COMPELLING STORY RICH IN VALUE CATALYSTS Production Ramp-up and Resource Conversion at Demir Dagh Expansion of production facilities Appraisal and development drilling to provide production growth and conversion of 2C Resources…
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