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Annual General Meeting – Greenfields Petroleum

Greenfields Petroleum · Aug 11, 2015 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Annual General Meeting – Greenfields Petroleum – slide 1
    Greenfields Petroleum Corporation Investor Update Annual General Meeting August 11, 2015 Houston, Texas TSX.V: GNF & GNF.DB
  2. Annual General Meeting – Greenfields Petroleum – slide 2
    Agenda Highlights of past year Drilling suspended April 2014 Low oil price environment Reduce Opex and Capex Production Reserves Key Technical Learnings Bahar Gas Field Study 3D Seismic in Gum Deniz oil field Key Commercial…
  3. Annual General Meeting – Greenfields Petroleum – slide 3
    Greenfields Petroleum 2014 Net Production 1,534 BOE/d 2015 Q1&2 Net Production 1,075 BOE/d Debt - Senior Secured 25 Million Debt - Subordinated 22 Million Convertible Debenture 18 Million Net Reserves (P1+P2)* 3.8 MMBO 60.3…
  4. Annual General Meeting – Greenfields Petroleum – slide 4
    Key Highlights Gum Deniz and Bahar workovers and recompletions ongoing Limited access to crane barges for Bahar field Gum Deniz development drilling program on hold until mid 2016 New 3-D Seismic for Gum Deniz being processed…
  5. Annual General Meeting – Greenfields Petroleum – slide 5
    2014-2015 Bahar ERDPSA Gross Production Suspend drilling 12000 BOEPD BOPD 10000 8000 Drastically reduce Capex and Opex 6000 4000 2000 0 6
  6. Annual General Meeting – Greenfields Petroleum – slide 6
    GNF 2014 Reserves Major Factors Affecting Revisions negative Oil price decline (99.98 to 62.10) Drilling hiatus: 2 years development delay for 5 year program positive Reduced OPEX from personnel and increased efficiency Reduce…
  7. Annual General Meeting – Greenfields Petroleum – slide 7
    Effect of Delayed Drilling on Reserves 2014 Report Impacted volumes 2013 Report 8
  8. Annual General Meeting – Greenfields Petroleum – slide 8
    Greenfields Net Reserves - Year end 2014 Greenfields Net Total Total Total 2P Total Total 3P Interest Proved Probable Possible Oil (Mbbls) 1,461 1,895 3,356 1,087 4,442 Gas (MMcf) 24,642 35,672 60,314 24,128 84,441 Total NGL 165…
  9. Annual General Meeting – Greenfields Petroleum – slide 9
    2012-2014 GNF Net Reserves 30,000 P3 25,000 P2 20,000 15,725 15,000 P1 7,598 14,074 10,851 10,000 6,805 10,052 4,878 4,988 5,000 8,886 8,769 4,107 5,770 5,355 5,032 4,073 3,573 3,775 1,626 - 1P 2012 1P 2013 1P…
  10. Annual General Meeting – Greenfields Petroleum – slide 10
    Bahar Field Reservoir Evaluation June 2015 ERA Consulting Integrated all 180 wells in Bahar field Mapped 15 gas reservoir flow units Mapped 7 oil flow units Calculated (gas originally in place)GOIP and (oil originally in…
  11. Annual General Meeting – Greenfields Petroleum – slide 11
    Bahar Field Identification of significant resources beyond five year development period GLJ (8/8ths) Reserves 2P = 308 BCF & 3P = 472 BCF ERA (8/8ths) Resources Low 643 BFC, Medium 1,370 BCF and High 2,138 BCF 50+ recompletion…
  12. Annual General Meeting – Greenfields Petroleum – slide 12
    2015 2-D Seismic Bahar Field Gum Deniz 3D 50 LKM Good quality data Acquisition and Fast Track Processing Complete Bahar 3D Integration into Bahar Field redevelopment plan 13
  13. Annual General Meeting – Greenfields Petroleum – slide 13
    Gum Deniz 3-D Seismic Acquisition commenced by PGS-Khazar in December 2013 Initial plan for 200 sq. km of new 3-D to image the Gum Deniz field and nearby areas Initial plan called for a 5 month acquisition Various impediments…
  14. Annual General Meeting – Greenfields Petroleum – slide 14
    Gum Deniz Acquired 103 of Planned 200 sq. km Shipping Channel Acquired 15
  15. Annual General Meeting – Greenfields Petroleum – slide 15
    Gum Deniz 3D Final Integrated Interpretation Following receipt of final PSTM cube, integration with all well control in the ERA model study of Gum Deniz Synthetics and fluid substitution models will be constructed for calibration and…
  16. Annual General Meeting – Greenfields Petroleum – slide 16
    Gum Deniz Redevelopment Schedule Item Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Acquisition Completed Post-stack Migrated volume Structural Interpretation 2016 Development Well Selection…
  17. Annual General Meeting – Greenfields Petroleum – slide 17
    Commercial Issues Contractor Parties 80% Bahar Energy Limited (BEL) 1/3 Greenfields Petroleum Corporation 2/3 Baghlan Group (Baghlan) (Azerbaijan Private Company) 20% SOCAR Oil Affiliate Baghlan Group not funding 2014 -2015 cash…
  18. Annual General Meeting – Greenfields Petroleum – slide 18
    Next Steps: Re-Start Development Maintain reduced operating costs Continue Oil and Gas recompletions and workovers successful and less expensive Expanding program and adding more ESPs Drilling of new oil wells to resume 2016…
  19. Annual General Meeting – Greenfields Petroleum – slide 19
    Greenfields Petroleum Corporation Primary Focus of Creating Shareholder Value Bay of Baku is a natural harbor on the shore of the Absheron Peninsula 20
  20. Annual General Meeting – Greenfields Petroleum – slide 20
    Contact Information Greenfields Petroleum Corporation John Harkins CEO Wayne Curzadd - CFO Phone: (832) 234-0810 Phone: (832) 234-0835 Facsimile: (832) 234-0823 Facsimile: (832) 234-0823 John.Harkinsgreenfieldspetroleum.com…

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