Corporate Presentation May 2016 www.sterlingenergyplc.com 1 www.sterlingenergyplc.com August 2015
Disciplined Material Growth Value driven, uniquely positioned for growth Robust platform US94.8m million cash Debt free & fully funded Consistent capital discipline Somaliland Odewayne Proven E&P capability set Sterling 40%…
Mauritania Block C-10 Large footprint in a proven re-emerging basin Joint venture Sterling 13.5% Tullow (Operator) 76.5% C10 - Sterling Energy 13.5% SMHPM 10.0% (SMHPM carried by Sterling & Tullow during exploration phase) Large…
Mauritania Continuing success northwards along the margin Kosmos - Marsouin -1(Nov-15) Gas discovery with 70m of net gas pay in the Cenomanian. Kosmos Ahmeyim-2 (Mar-16) Appraisal well on Ahmeyim discovery encountered 46m gas pay…
Mauritania Block C-10 Multi-play potential in a proven basin C-10 Cenomanian 3D stratal slice- Reservoir characterisation Cenomanian fairway Cenomanian clastic play successfully targeted by Kosmos, interpreted over western part…
Mauritania - Block C-10 Cenomanian play analogous to Kosmos discoveries in Mauritania & Senegal Comparable seismic character C-10 Zoomed Cenomanian 3D stratal slice- Reservoir characterisation Similar scale channel systems to…
Mauritania PSC B Chinguetti Oil production funding and royalty income Chinguetti Field First commercial oil field discovered in 2001, 80kms offshore in 800m WD Q1 2016 gross field production averaged 3,888 bopd Petronas 47.38%…
Somaliland Odewayne Large footprint in frontier exploration province Joint Venture Genel (Operator) 50% Sterling 40% Odewayne - Sterling Petrosoma 10% Energy 40% Onshore frontier exploration Large block of 22,840km, equivalent to…
Somaliland - Odewayne Unexplored Mesozoic rift basin Petroleum System Basement pseudo depth map Frontier block with no seismic control and no drilling to date Rift basin interpreted to be deep enough for Jurassic source rocks to be…
Cameroon Ntem Long term West African producer Joint venture Sterling (Operator) 100% Large deep water block Additional potential on block (Tonga & Boabab prospects) High quality 1,500km 3D Favourable fiscal terms Licence terms…
Activity Timeline Executing and refreshing our asset base 2016 2017 2018 Country Asset H1 H2 H1 H2 H1 H2 C10 (13.5%) Mauritania 2015 entry Decision Ground floor terms, 1 well Interpret 3D Drilling to Enter (Emerging) commitment Phase…
Sterling Energy Value driven, uniquely positioned for growth Robust platform Refreshed board & supportive shareholders Debt free, cash of US95 million 2016 & 2017 commitments fully funded Primed to benefit from market dislocation…
Ancillary information May 2016 www.sterlingenergyplc.com 14 www.sterlingenergyplc.com August 2015
Corporate information Q1 2016 Results, refreshed Board, strong drivers for growth Financial summary Q1 2016 Sterling Energy plc - AIM listing 2002 Significant Shareholders1 Cash 94.8 million net Market capitalisation 35.5 million1…
Sterling Management Eskil Jersing 31 Senior exploration, new ventures & management positions at Enterprise Oil, Shell, Marathon & Apache (UK, US, Brazil and Australia) CEO Years Former Head of new ventures at Petrobras Oil & Gas BV…
Sterling Energy E&P evolution & history Ambilobe block Madagascar exit (post new 3D evaluation disciplined data driven decision) C-3 block Mauritania exit (post new 2D evaluation disciplined data driven decision) 2016 C-10 block…
Mauritania Country Overview Stable Democracy - growing Oil & Gas province Government Islamic Republic of Mauritania (1,030,000 km2) President Mohamed Ould Abdel Aziz: Held office since 2009 Elected for further 5 year term in June…
Somaliland Country Overview Frontier opportunity Government Somaliland (637,000 km2) was a UK protectorate from 1884 until 1960 Declared independence from Somalia in 1991; allowed development of a stable, democratic government Not…
Cameroon Country Overview Established oil producer Government - Republic of Cameroon (475,440km2) - Multi-party presidential system - President Paul Biya Held office since Nov 1982 Elected for further 7 year term in Oct 2011…
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