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January 2016 Corporate Presentation – Bankers Petroleum Ltd.

Bankers Petroleum Ltd. · Jan 6, 2016 · 23 slides

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Slides

  1. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 1
    CORPORATE PRESENTATION JANUARY 2016 TSX: BNK Corporate Presentation
  2. January 2016 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 (279 Million fully diluted) Share Price 0.93 (as…
  3. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 3
    INVESTMENT HIGHLIGHTS 203 Million barrels 2P Large Primary Reserves 5.4 Billion barrels OIIP Strong Record of Q4 2015 average production Production Growth 18,137 bopd Robust Pricing 27.50/bbl cash margin in Q3 2015 Strong…
  4. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 4
    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…
  5. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 5
    ASSET OVERVIEW Albania: Patos-Marinza Oilfield Largest onshore oilfield in Europe 100% W.I. and operatorship 191 Million Barrels 2P Reserves Kuova Oilfield 100% W.I. and operatorship 12 Million Barrels 2P Reserves Drilled first…
  6. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 6
    AVERAGE QUARTERLY PRODUCTION 22,500 20,000 17,500 15,000 Horizontal Wells: 388 12,500 BOPD 10,000 7,500 Vertical Wells: 51 5,000 2,500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
  7. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 7
    CORPORATE STRATEGY Maintain balanced spending to cash flow throughout year Conserve Strength Operational flexibility to adjust pace of activity with oil of Balance sheet prices Encouraged by strong production results and…
  8. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 8
    2016 CAPITAL PROGRAM OF 65 M Budget to be balanced throughout year to maintain strength balance sheet 14 million, Current budget assumes annual 21% average Brent Price of 46.25/bbl, modest price recovery throughout 2016 26…
  9. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 9
    CASH MARGIN ANALYSIS 50.00 Royalties OPEX S&T Netback Financial Instruments 45.00 6.50 40.00 6.00 5.50 35.00 5.09 11.47 4.61 11.46 30.00 4.10 11.44 /bbl 3.59 3.45 25.00 12.51 3.07 3.33 12.85 20.00 12.84 3.21 12.83…
  10. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 10
    Netback and Cash Margin Cash Margin (/bbl) 55 2014 Q2 2015 Q3 2015 50 Brent 98.95 61.88 50.47 Sales Price 77.26 47.99 39.47 45 (% of Brent) (78%) (78%) (78%) 40 Royalties 11.39 6.89 5.66 35 Transportation 2.38 1.74 1.80…
  11. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 11
    COST STRUCTURE IMPROVEMENTS Cost Savings Initiatives 20 18 16 14 12 10 Q1/13 Q3/15 Savings 8 - 0.64 N/A 6 5.22 - 74% 4 2.05 - 50% 2 2.39 -72% 0.68 - 27% 0 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3…
  12. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 12
    STRONG BALANCE SHEET LIQUIDITY at September 30, 2015 Working capital of 174 Million; Cash and restricted cash of 64 Million Credit Facilities Facility Utilized Approved Raiffeisen Bank 20 Million 20 Million 0 Million IFC / EBRD 203…
  13. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 13
    RESERVES VALUE & METRICS December 31, 2014 Reserves 125 Mbbls 203 Mbbls Patos-Marinza 122 Mbbls 191 Mbbls Kuova 3 Mbbls 12 Mbbls Reserve Life Index 17 years 27 years Net Present Value 734 1,802 at 10% After Tax (US…
  14. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 14
    RESERVES ALLOCATION Depth: 2000 m Core Area 2014 Oil initially in place (OIIP) 1.8 Bbbls Recovery to date 141 Mbbls Recovered by Bankers 37 Mbbls (26%) Remaining booked 166 Mbbls Primary 155 EOR 11 Total Recovery using Primary…
  15. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 15
    HORIZONTAL WELL PERFORMANCE Average Horizontal Well Profile 100 500 Oil Rate 3P Recovery Case 80 2P Recovery Case 400 Producing Well Count Oil Rate (CD, bopd) 1P Recovery Case 60 Well Count 300 40 200 20 100 0 0…
  16. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 16
    EOR PROGRAM 53 EOR patterns in operation at end of 2015 meeting or exceeding model expectations to date 11.3 million barrels 2P Reserves booked in 2014 30 conversions in 2015 half of planned conversions are expansion of existing…
  17. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 17
    POLYMER FLOOD PERFORMANCE BY AREA Central Driza Polymer Patterns South Driza Polymer Patterns 250 15 250 15 * Half patterns removed from data 200 12 200 12 Oil Rate (bbl/d) Pattern Count Pattern Count 150 9 150 9…
  18. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 18
    HUNGARY PSPKLADNY (BLOCK P) Diversification: Addition to our anchor assets in Albania, potential exposure to light oil and gas Foothold in the Pannonian Basin, one of the largest oil & gas basins in continental Europe Utilize…
  19. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 19
    HEALTH, SAFETY, ENVIRONMENT & COMMUNITY RELATION Environmental Clean-up and remediation Meeting International standards Economic Health & Safety Health, Safety, Development Creating safe work environments Environment &…
  20. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 20
    COMMUNITY RELATIONS Bankers Community Relations Program: Bankers Info Center Engages with stakeholders through regular meetings with local authorities, residents, companies and institution Invites people to the Community…
  21. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 21
    ENVIRONMENTAL Before Bankers came to Albania, 75 years of historical oilfield operations in Patos-Marinza had left the field in poor condition, with oil contamination surrounding many Previous Albpetrol well of the wells. Re-activated…
  22. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 22
    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, New Ventures & Executive VP & COO Corporate…
  23. January 2016 Corporate Presentation – Bankers Petroleum Ltd. – slide 23
    ANALYST COVERAGE Christopher Canaccord Genuity M Partners David Buma Brown CIBC Dave Popowich Mackie Research Mark Heim Aaditya Chintalapati Cormark Securities Garett Ursu Pareto Securities & Thomas Aarrestad Credit Suisse…

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