Seismic Processing is Critical Key to success is reprocessing of Before Reprocessing After Reprocessing existing data BL-001 BL-001 300 MB EUR 300 MB EUR Seismic reprocessed across majority of Alvopetros blocks 1,200 km2 of…
Alvopetro Highly under-explored prospective land base (154,257 acres, 144,243 net acres) and a balanced suite of opportunities Experienced team with a strong track record Base Net Asset Value of C2.22/share(1) Known Proven Assets:…
Known Assets 197(2) Gas Discovery ALV 197(2) well Tested gas in 3 intervals of Caruacu Formation (tested 15 m GR Sw of a total 78 m of potential encountered pay) TVD D&M 47 BCF contingent resource, NPV10 137.1 million (3C share)…
Known Assets 182(B1) Drilled to 2,095m encountering 6 m of net hydrocarbon pay in Agua Grande Formation January average production rate of 46 bopd with a 0.9% water cut 182(B1) shut-in to undertake enhancements to maximize productivity…
Known Assets Bom Lugar Development Potential 3 mature fields (Bom Lugar, Jiribatuba and Fazenda Gameleira) NPV10(BT) 2P reserves of US13.8 million (as at December 31, 2014) o Includes only one probable undeveloped location at Bom…
Conventional Exploration Inventory Highly under-explored prospective land base (154,257 acres, 144,243 net acres) 22 conventional exploration prospects identified, all supported by reprocessed seismic Two conventional discoveries…
Conventional Prospects 170(B1) Prospect Shale Diapir Targets Marfim and Caruacu Formations updip of well that tested the oil water contact Well depth 2,000 m Site construction started in Q4 2015 Target spud date February…
Conventional Prospects 256(A1) Gas Prospect Three way fault closure Well Depth 2,200 m (Caruacu) Block 256 Prospect located on south Erosional unconformity side of Mata Catu fault Environmental permit has been submitted to INEMA…
Discovered Gomo Tight Gas Resource 197-1 Well Encountered 43 m potential net hydrocarbon pay Recovered 78 m of core Lower zone flowed natural gas at an average rate of 40 mcf/d (unstimulated) 183-1 Well Encountered 189 m…
Block 197/183 Geobodies A A Jan2 197-1 183-1 Tested Gas Deep Gas Geobody 5,460 Acres 3275m A 3550m 183-1 A Defined deep basin natural gas resource over a large mapped 197-1 area in a non-structural setting Gas…
Brazil Gas Marketing Environment 20 High demand for natural gas in Brazil, 18 93.3 million m3/day in 2015. 16 In 2015, on average, Brazil imported 32.1 million m3/day of natural gas from Bolivia 14 National gas infrastructure…
Gas Sales Options Compressed natural gas Thermal power plants 125 MW 30 mmcf/d Bahia Gas local State distribution company Petrobras tie into national grid Large industrial users, largest consumes 35 mmcf/d Power Substation…
The Alvopetro Opportunity Experienced Team Well capitalized - US32.2 million(1) of financial resources Highly under-explored prospective land base Balanced suite of opportunities Attractive valuation Base Net Asset Value of…
Recncavo Basin, Brazil Total Area: 10,000 square km First oil drilled (1939) 6,000 wells drilled 86 producing fields Developed infrastructure TPIIP 6.3 billion bbls (conventional) OGIP 3.2 TCF (conventional) Cumulative…
Recncavo Basin Geological Model ANP 4th Bid round - Modified from Braga et al., 1987 19
Favourable Fiscal Regime Royalties Oil Gas Payable on monthly production and computed based on the ANP reference Operating netback targets (per bbl) (per mcf) price Basic government royalty = 10% on concession contracts and 5% on…
Oil Marketing Petrobras price is based on average monthly Brent pricing less a discount for Petrobras operational and transportation costs Current discount 10/bbl net of tax adjustments Alvopetros current oil production is trucked…
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