EASTERN DESERT DEVELOPMENT-K SOUTH PLAN South K OOIP: 55 MMbo Production to date: 5.8 MMbo (10.5% recovery) Drilled K-48 in April Cased as Asl A oil well Encountered 33 meters (108 ft.) net oil pay* K-48 Targeting production in…
UNDERVALUED WITH BALANCE SHEET STRENGTH CAPITAL STRUCTURE (US) Shares Outstanding (10/05/16) 72.2 Million Market Capitalization (10/05/16) 140.1 Million Debt (31/03/16) 66.5 Million Working Capital (31/03/16) 75.2 Million…
OIL MARKETING Marketing has improved liquidity, 140,000 EGPC AR Outstanding decreased credit risk and 120,000 100,000 resulted in West Bakr production 80,000 being sold at market price 60,000 40,000 TransGlobe marketed and sold…
INVESTMENT HIGHLIGHTS 1.5 Million gross acres of land 2016 Exploration focus 8 Projects in Egypt (100% WI) In Eastern Desert, drill up to 22 exploration prospects Strong balance sheet with net working In Western Desert, interpret new…
EASTERN DESERT EXPLORATION PROGRAM Red Bed Prospects 8 prospects (COS 17% avg) 4-12 mmbbls prospective resource** NWG 29 - Drilling (1st well in 2016 program) Miocene Clastic Prospects 8 prospects (COS 32% avg) 2-8 mmbbls…
WEST GHARIB/WEST BAKR: 100% WI - OPERATED Eastern Desert Production Q1-2016 12,058 Bopd Q2-2016 Est - 10,800 Bopd 2016 Plan Optimization and cost reduction Integration of the West Bakr and West Gharib JVs…
NW GHARIB: 100% WI - OPERATED NWG 3 2016 Plan Progress three (NWG 1, 3 & 5) oil developments toward first NWG 1 production in late 2016 1st 2016 Exploration 500-900 Bopd initial NWG Well production potential* 5 Drill up to…
EASTERN DESERT DEVELOPMENT-K SOUTH PLAN South K OOIP: 55 MMbo Production to date: 5.8 MMbo (10.5% recovery) Drilled K-48 in April Cased as Asl A oil well Encountered 33 meters (108 ft.) net oil pay* K-48 Targeting production in…
EGYPT ASSETS: WESTERN DESERT Three operated concessions Map & evaluate the 2015 South Ghazalat 3-D Prepare for NW Sitra 3-D seismic acquisition program 11
SOUTH GHAZALAT SEISMIC DIP LINE Rift Margin Edge Several structures along rift margin Excellent quality data from & Tertiary Seal U. Cretaceous 2015 3D acquisition The rift margin is well imaged with good data to Jurassic…
L. Jurassic U. Cretaceous U. Cretaceous Cretaceous Reservoirs & Tertiary Seal Reservoirs Reservoirs 13 SOUTH GHAZALAT SEISMIC STRIKE LINE L. Jurassic Cretaceous Reservoirs Reservoirs U. Cretaceous U. Cretaceous…
SUMMARY Opportunity rich Attractive valuation Average Q1 production of 12,058 Bopd Strong balance sheet, 75.2MM positive working capital March 31st, 2016 122.0MM in cash March 31st, 2016 Growth potential with a large…