TARGETING AREAS OF KNOWN PRODUCTION Goal: Be a superior operator and benefit from the use of North American technology in known international hydrocarbon basins Current operations in Turkey and Bulgaria (26 MMBO produced) Crude…
TURKEY: THREE-PART STRATEGY FOR GROWTH Molla Area (SE Turkey, Oil) elmo Field (SE Turkey, Oil) Thrace Basin (NW Turkey, Gas) Shot 800 km2 (300 mi2) 3D seismic Remodeled field in 2013 using Four successful HZ wells in 2013-14 in…
PATH TO ACHIEVE YEAR-END 2014 GUIDANCE Expect to spend 106 million of capex in 2014 Investing 85% of capital in oil in southeastern Turkey Q3-Q4 2014 Estimates Thrace Area Molla Area (SE Turkey, Oil) elmo Area (SE Turkey, Oil)…
CONSERVATIVE ASSUMPTIONS FOR 2014 Estimated results for the remainder of 2014 are based on conservative risking: Estimated Targeted Production Actual Analog Basin Well Type Analog Well Reserves Guidance (Net IP) (Risked) Bahar…
MOLLA AREA, SOUTHEASTERN TURKEY NINE WELLS SPUDDED YEAR-TO-DATE Perencos Kastel Field (EUR 15 MMBO) Drilled 5 elmo Field Spudded 1 Bahar Field Spudded 2 Bat Raman Field Largest oil field in Turkey Drilled 1 Idil…
EXPECT NEW 3D SEISMIC TO IMPROVE TARGETING IN TURKEY In the past year, we shot more than 1,000 km2 (385 miles2) of new 3D seismic in Turkey Selecting well locations in southeastern Turkey based on new seismic Currently drilling two…
MOLLA AREA: BAHAR FIELD SOUTHEASTERN TURKEY, OIL, 100% WI Initial six wells will be vertical in order to de-risk the geology of the Bahar structure Top Bedinan Structure (10,000) 1 kilometer 10
MOLLA AREA: BAHAR FIELD SOUTHEASTERN TURKEY, OIL, 100% WI Vertical wells will produce from both the Bedinan and Hazro formations Top Hazro F4 Structure (8,700) 1 kilometer 11
ELMO FIELD SOUTHEASTERN TURKEY, OIL, 100% WI elmo development is focused on increasing the recovery of the field; converting probable and possible reserves into proved reserves Recent successes in southeastern portion of the field,…
ELMO FIELD SOUTHEASTERN TURKEY, OIL, 100% WI Changing well orientation in the elmo field to lower well costs and increase production Rather than drilling perpendicular to faults, drill parallel to faults Drilling parallel to faults…
ELMO FIELD SOUTHEASTERN TURKEY, OIL, 100% WI Commenced secondary recovery in elmo in Q1 2014 to increase field recovery Converted two wells to injection, injected 70,000 barrels of water to date Also injecting polymer to increase oil…
THRACE BASIN NORTHWESTERN TURKEY, NATURAL GAS, 41.5% WI Future proved reserves potential from horizontal drilling of tight gas in the Mezardere and Teslimkoy formations; applying multi-stage completion technology Drilled two Teslimkoy…
THRACE BASIN DEVELOPMENT PLAN NORTHWESTERN TURKEY, NATURAL GAS, 41.5% WI Shot 234 km2 (90 m2) of 3D seismic in the Osmanl area of the southern Thrace Basin Planning a campaign for conventional, vertical appraisal wells for late summer…
RESERVES VALUE, SELLSIDE TARGETS Reserves as of 12/31/2013 Discounted at: US/Share 37.4 MM total shares at 12/31/2013 MMBOE 0% 10% PDP 5.7 11.68 8.76 PDNP 0.9 1.44 0.99 PUD 5.6 8.81 6.12 Total 1P Reserves 12.2 21.93 15.87 Target…
CONCLUSIONS Focused on targeted drilling in the Molla area with newly acquired 3D seismic Horizontal drilling and secondary recovery in legacy elmo field expected to increase production Year-end 2014 exit rate guidance based on…
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NEW PRESIDENT AND COO TRACK RECORD OF GROWTH Led Longfellow Energy to 98% production growth and 202% reserves growth in 2013 Todd C. Dutton, President James R. Huling, COO 37 years of industry experience 29 years of industry…
BULGARIA EXPLORATION NATURAL GAS, 50% WI Bulgaria Well Status Deventci-R2 tested at 2MMCFPD with condensates after perforation Currently performing a build-up pressure test of the well Expect to request approval to acidize…
OPERATING AND FINANCIAL HIGHLIGHTS Results for the period: Q2 2013 Q3 2013 Q4 2013 Q1 2014 Net Sales Oil (BBLD) 2,527 2,500 2,533 2,889 Natural Gas (MCFD) 8,967 9,435 11,174 10,378 BOEPD 4,022 4,076 4,391 4,622 % Oil 63% 61% 58%…
YEAR-END 2013 RESERVES Total 1P + 1P + 2P + Total Proved Reserves PDP PDNP PUD Probable Possible (1P) (MMBoe) (2P) (3P) 12/31/2012 5.1 1.4 5.1 11.6 21.6 54.2 Reserve 2.3 (0.5) 0.5 2.3 4.3 2.0 Changes Production (1.7) 0.0…
PV-10 RECONCILIATION The PV-10 value of the estimated future net revenue are not intended to represent the current market value of the estimated oil and natural gas reserves we own. Management believes that the presentation of PV-10,…
CONTACTS Taylor C. Beach Wil F. Saqueton Director of Investor Relations VP & CFO (214) 265-4746 (214) 220-4323 Taylor.Beachtapcor.com www.TransAtlanticPetroleum.com 25
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