Natural Resources Forum Supply, demand and the price of oil: Winners in a low price environment 3 November 2015 Brian OCathain CEO
Presentation outline 1. Company overview 2. Algeria- Ain Tsila development 3. Exploration potential 4. Conclusions 3
Petroceltic Company overview Petroceltic asset map North Africa focused independent E&P company Listed on the London Stock Exchange AIM market and the Dublin Stock Exchange (PCI.L) Market cap of USD 200m (Oct 2015) net debt of USD…
Strategy centered around successful development of Ain Tsila Ain Tsila Successful execution of Ain Tsila Invest cash flow development in a way that in Ain Tsila maximises long term value Manage commitments and exploration risk…
Substantial production base Material growth from Ain Tsila PCI production (2P reserve profile) Petroceltic expected production of 14,000 15,000 boepd in 2015 Mature existing production on natural decline in 2015-18, partly offset…
Presentation outline 1. Company overview 2. Algeria- Ain Tsila development 3. Exploration potential 4. Conclusions 7
Algeria overview Algeria is Africas largest gas producer and exporter Significant presence of majors and independents (ENI, BP, Statoil, Total, Repsol, Anadarko) The oil and gas sector is a key industry for Algeria Accounts for…
Ain Tsila A strategic gas asset for Petroceltic and Algeria Ain Tsila is a large gas-condensate field in the Illizi basin in south-east Algeria Established hydrocarbon area with several analogue fields nearby (TFT, Ohanet, In…
Key development milestones scheduled during 2015 - H1 15 H2 15 2016 2017 2018 Capitalised G&A and pre-operations costs USD 113m FEED work USD 17m 3D seismic Contract award USD 46m Drilling of 24 new wells + 6 recompletions…
Material production with large upside potential Reserves and upside production profiles (gross) First gas planned in Q4 2018 800 Production plateau of 81,500 boepd Enhanced Plateau gross 700 MMcfpd wet gas 700 329 MMcfpd sales gas…
Ain Tsila will generate significant long-term cash flow Net PCI cash flow (including Sonatrach carry) USDm Current net point forward capex to 300 PCI equivalent of c.USD2.25/boe Significant cash flow generated 200 post first…
Presentation outline 1. Company overview 2. Algeria- Ain Tsila development 3. Exploration potential 4. Conclusions 13
Egypt exploration Low cost, prospective portfolio renewal Recent portfolio renewal Undertaken when competition was low Guided by expected gas price trends Four new licences acquired in 2013/14 N Thekah and N Port Fouad (gas) High…
Zohr Discovery Potentially Transformational discovery for Egypt and Eastern Mediterranean gas supply Only a handful of wells have drilled to lower Miocene in the Egyptian part of Levantine Basin Zohr-1 establishes a new Miocene…
Zohr- World Class Supergiant Gas Discovery Largest ever found in Mediterranean Sea Location Shorouk Concession - ENI 100% (EGAS 2012 Bid Round) 3.5km from North Port Fouad (NPF) Concession Water Depth 1450m Resource Estimate 30…
Italy Material offshore discovery, and onshore potential Elsa discovery Appraisal well offshore Abruzzo Petroceltic operated asset (55% WI) discovered in 1992 Gross 2C contingent resource 95 MMbbls (AGR CPR) 65 metre oil pay zone…
Presentation outline 1. Company overview 2. Algeria- Ain Tsila development 3. Exploration potential 4. Conclusions 18
Summary Ain Tsila is a world class asset with proven industry value Ain Tsila field development materially de-risked, with visible near term milestones Large reserves and significant current production base Experienced management…
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