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October 2017 Corporate Presentation – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Oct 11, 2017 · 40 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. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 1
    Visible Production Growth & High-Impact Exploration, Funded Through Cash Flow October 2017
  2. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 2
    GRAN TIERRA VALUE CREATION MODEL Low decline rates Focused on full-cycle returns Top quartile cost structure High-netback production Value- High Quality Driven Assets CREATE LONG-TERM SHAREHOLDER VALUE Sustainable…
  3. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 3
    TRANSFORMATION TO GROWTH COMPANY Grow NAV/share1 by 3-5 x in 5 years Exploration Upside Current 3P NAV1: 3P 2P 1P Drill 30-35 US7.23/share Developing exploration wells Acordionero over the next 3 Added 2P/3P years Reserves/…
  4. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 4
    KEY INVESTMENT ATTRIBUTES Colombia production in Q2/2017 was 30,098 BOEPD, up 21% from Q2/2016 Visible Visibility to 2019 W.I. production of 40,000 BOEPD based on 2P forecast1 Production Growth Ability to grow in a low price…
  5. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 5
    COMPANY SNAPSHOT Market Statistics 2016 Year-End 2P Gross W.I. Reserves (MMBOE)3 Symbol (NYSE American, TSX) GTE Share Price (at close Sep. 29/17), NYSE American US2.28 Suroriente Minor Fields 4.0 Daily Trading, 30-day Ave Vol, NYSE…
  6. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 6
    CORPORATE STRATEGY Discovered Resources Undiscovered Resources New Inventory Appraise & develop newly Accelerating N-Sand, Expand/consolidate within acquired fields, including the large A-Limestone, U/T/Caballos Colombia via joint…
  7. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 7
    DELIVERING ON OUR FOCUSED STRATEGY 1 1 Production Growth 2 Reserves Growth1 185 (mboe/d) (mmboe, W.I., pre-royalties) 21% 169% 105% 116 30.1 24.8 69 57 54% 65 42 Q2/2016 Q2/2017 Dec-15 Dec-16 Actual 1P Reserves 2P…
  8. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 8
    NET ASSET VALUE 3,000 7.23 Net Asset Value (NAV) Before Tax (USMM, US/share)1 2,855 2,500 Sep. 29/2017 1,120 2,000 Share Price US 2.28/share 4.40 1,735 1,500 860 244 231 1,000 2.22 862 876 500 0 Proved Proved Net Debt…
  9. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 9
    NETBACK COMPARISON 30 26.59 Operating Netback Peer Comparison, Q2 2017 (US/boe ) 26.12 25 22.55 22.05 21.78 21.03 20.99 20.71 20 18.88 17.17 15.81 15.65 15.63 14.47 15 13.60 13.20 12.94 12.82 12.22 12.02 11.95 10.85 10.00…
  10. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 10
    DEBT/CASH FLOW PEER COMPARISON 10 8 2017E Debt / Cash Flow (x's) 6 4 2 0 GTE Intl Peer Avg Peer 12 Peer 15 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 16…
  11. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 11
    2017 YEAR TO DATE HIGHLIGHTS1 Strong Production Performance at Acordionero Since acquisition 1 year ago, production increased 123% to 10,547 bopd Lower Sinu-SJ Mag Continued A-Limestone Success at Costayaco Basin Basin Successfully…
  12. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 12
    Core Assets 13
  13. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 13
    CORE PRODUCING PROPERTIES Acordionero Costayaco & Moqueta 28% of production1 39% & 19% of production1 (58%) 42% of 2P reserves2 Lower 23% & 16% of 2P reserves2 (39%) Sinu-SJ Mag Basin Basin Acquired in 2016 Acordionero Historic…
  14. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 14
    ACORDIONERO FIELD OVERVIEW W AC-2 E Acquired by Gran Tierra in August 2016 Main Unconformity (PetroLatina acquisition) Stacked pay 60+ dip Thick, permeable oil pay in Lisama A & C New discoveries in Lisama D (AC-8i & Mochuelo)…
  15. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 15
    ACORDIONERO: MATERIAL PRODUCTION GROWTH1 Aug. 23, 2016-Aug. 31, 2017: oil production increased Acquisition of PetroLatina closes; from 4,730 to 10,547 BOPD Gran Tierra assumes operatorship (123%) from drilling 6 development wells,…
  16. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 16
    ACORDIONERO: TYPE CURVE & ECONOMICS 900 1,200 Economics* 800 Cost 3.5MM Cumulative Oil Production (mbbl) 1,000 700 NPV10 BT 30.2MM Daily Rate (bbl/d) 600 800 IRR 275% 500 Payback 9 months 600 400 300 400 200 200…
  17. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 17
    ACORDIONERO: STEADILY IMPROVING COST STRUCTURE Gran Tierra has significantly improved the Drilling Days vs Depth economics since taking over the field 0 ft Reductions in drilling time and other efficiencies have led to material…
  18. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 18
    ACORDIONERO: FORECAST FULL 2P DEVELOPMENT PLAN* Lisama A Structure Drilling: AC-2 Pad AC-2 Pad: 4 new producers, 1 new injector AC-1 CPF Pad: 3 new producers, 1 new injector AC-1 CPF Central Pad: 4 new producers, 1 new injector…
  19. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 19
    COSTAYACO: A-LIMESTONE, EXCITING NEW OIL PLAY Gross A-Limestone Cumulative Oil Production 900,000 800,000 700,000 600,000 500,000 bbls 400,000 300,000 200,000 100,000 0 Since Oct. 2016, A-Limestone has…
  20. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 20
    TRANSPORTATION & MARKETING Significant optionality in routes and sales points Putumayo primary routes Tumaco via OTA pipeline (33,000 bopd spare capacity) Esmeraldas via OCP pipeline (280,000 bopd spare capacity) in Ecuador (after…
  21. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 21
    OIL PRICING Brent prices improving Shortage of medium/heavy grades currently in the market Vasconia-Brent differential improving significantly as a result Key Differentials Key Crude Benchmarks 0.00 60.00 -1.00 50.00 -2.00…
  22. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 22
    Exploration 23
  23. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 23
    HIGH-IMPACT COLOMBIAN EXPLORATION PORTFOLIO Competitive advantages in Putumayo Proprietary regional seismic coverage of 2D & 3D SINU BASIN Large contiguous land base 2 Prospects 2 Leads Significant multi-zone production 986K acres…
  24. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 24
    PUTUMAYO BASIN STACKED PAYS OIL RESERVOIR ANALOG FIELDS CUMPLIDOR N Sands Stratigraphic Play QUINDE COHEMBI N Sand Discoveries/appraisal: Cumplidor-1, Alpha-1, Confianza-1 Play Fairway captured M2 Limestone Amplitudes…
  25. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 25
    DOMINANT PUTUMAYO LAND POSITION o Gran Tierra has built a detailed Moqueta geologic model of the Putumayo, Costayaco including N Sand and A-Limestone New o A-Limestone analysis: Discovery o +200 wells analyzed basin-wide Von-1 o…
  26. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 26
    LARGE PUTUMAYO SEISMIC DATABASE Gran Tierra has a substantial Costayaco Moqueta proprietary seismic database covering much of the Putumayo Basin Von 3D: 1,716 km2 2D: 16,807 km N Sand and A-Limestone plays are clearly defined by…
  27. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 27
    VONU DISCOVERY1 (PUT-1 BLOCK) Log Analysis Net Oil Pay (ft, TVD) Initial 7-day test Extended short-term test UPDATE N Sand 8 CHART M1 Limestone 3 RODGER M2 Limestone 9 A-Limestone 91 U Sand 15 TOTAL 126 Other Oil Production…
  28. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 28
    2017 / Q1 2018 COLOMBIA EXPLORATION DRILLING PLAN 1 Well, Sinu Basin 2 Wells, Middle Mag Valley Basin Ayombero-1 Acordionero Totumillo-1 Tonga-1 Moqueta 7 Wells, Putumayo Basin Costayaco 1 Well, Llanos Basin Vonu-1…
  29. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 29
    COLOMBIA EXPLORATION PROJECTS 2017 / Q1 2018 Q1 Q2 Q3 Q4 Q1 1 well 1 well 1 well 3-5 wells 2-3 wells Confianza Vonu Siriri Ayombero Totumillo Northwest Tonga Nancy 2 Nancy 3 (PUT-7) (PUT-1) (PUT-4) (Midas) (Midas) (PUT-7)…
  30. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 30
    SUMMARY OF KEY INVESTMENT ATTRIBUTES Visible Production Growth Sinu-SJ Basin Lower Mag Basin Middle Mag Basin High-Impact Exploration lBogota Llanos Basin Funded Through Cash Flow Putumayo Basin GTE…
  31. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 31
    Appendix 32
  32. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 32
    SIRIRI PROSPECT (PUT-4 BLOCK) A Siriri-1 A Spud: August 20th, 2017 PUTUMAYO A BASIN Put 4 Block ORITO Siriri A A MAXINE NANCY Siriri-1 well designed to target multi-zone potential in A-Limestone & N Sand fairways in…
  33. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 33
    NORTHWEST PROSPECT (PUT-7 BLOCK) PUTUMAYO A NORTHWEST-1 A BASIN PUT7 BLOCK N-Sand Northwest CUMPLIDOR A A QUINDE Pomorroso Camaria A-Limestone Aguas Blancas Pegasus Northwest-1 well designed to target…
  34. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 34
    POMORROSO PROSPECT (PUT-7 BLOCK) PUTUMAYO A POMORROSO-1 A BASIN PUT7 BLOCK N-Sand CUMPLIDOR Northwest QUINDE A A Pomorroso Camaria A-Limestone Aguas Blancas Pegasus Pomorroso-1 well designed to target…
  35. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 35
    AYOMBERO PROSPECT (MIDAS BLOCK) A Ayombero A MMV BASIN Middle Mag Basin A CHUIRA A Ayombero Putumayo Basin Cretaceous seaway connected Putumayo to Magdalena SERAFIN Ayombero-1 targeting La Luna formation,…
  36. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 36
    TOTUMILLO PROSPECT (MIDAS BLOCK) A Totumillo A MMV BASIN ACORDIONERO A A Totumillo Totumillo-1 well designed to target potential Lisama Sand structure, south of producing Acordionero field 37
  37. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 37
    MANAGEMENT BIOS Name Title Experience Professional Engineer registered with APEGA with over 35 years of experience. Prior to Gran Tierra, Gary Guidry President & CEO was President & CEO of Caracal Energy, Orion Oil & Gas & Tanganyika…
  38. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 38
    BLOCK SUMMARY Country Basin Block Producing Fields Operated Working Interest Partners Gross Acres Colombia Putumayo Alea 1848-A N/A No 50% Vetra 75,764 Colombia Putumayo Alea 1947-C N/A No 49.5% Vetra 58,068 Colombia Putumayo Chaza…
  39. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 39
    BLOCK SUMMARY Country Basin Block Producing Fields Operated Working Interest Partners Gross Acres Colombia Llanos Garibay Jilguero No 30-50% Cepsa 1,903 Colombia Llanos LLA-1 N/A Yes 100% N/A 133,954 Colombia Llanos LLA-10 N/A No 50%…
  40. October 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 40
    900, 520 3RD AVENUE SW CALGARY, ALBERTA, CANADA T2P 0R3 Investor Relations 403-265-3221 infograntierra.com 44

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