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Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Nov 20, 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. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 1
    Visible Production Growth & High-Impact Exploration, Funded Through Cash Flow November 2017
  2. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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 US7.18/share Developing exploration wells Acordionero over the next 3 Added 2P/3P years Reserves/…
  4. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 4
    KEY INVESTMENT ATTRIBUTES Colombia production in Q3/2017 was 32,570 BOEPD, up 31% from Q3/20161 Visible Visibility to 2019 W.I. production of 40,000 BOEPD based on 2P forecast2 Production Growth Ability to grow in a low price…
  5. Visible Production Growth & High Impact Exploration – 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 Oct.30/17), NYSE American US2.17 Suroriente Minor Fields 4.0 Daily Trading, 30-day Ave Vol, NYSE…
  6. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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) 31% 169% 105% 116 32.6 69 24.9 57 54% 65 42 Dec-15 Dec-16 Q3/2016 Q3/2017 Actual 1P Reserves 2P…
  8. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 8
    NET ASSET VALUE 3,000 Net Asset Value (NAV) Before Tax (USMM, US/share)1 7.18 2,836 2,500 Oct.30/2017 1,120 Share Price 2,000 US 2.17/share 4.35 1,716 1,500 860 244 250 1,000 2.17 862 856 500 0 Proved Proved Net Debt 1P…
  9. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 9
    NETBACK COMPARISON Operating Netback1 Peer Comparison, Q2 2017 (US/boe ) 30 26.59 26.12 25 23.58 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. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 10
    DEBT/CASH FLOW PEER COMPARISON 10 8 2017E Debt / Cash Flow (x's) 6 4 2 0 GTE Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Intl Peer Avg Peer 15 Peer 16 Peer…
  11. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 11
    2017 YEAR TO DATE HIGHLIGHTS1 Strong Production Performance at Acordionero Production increased 172% to 12,870 bopd in 13 months Vonu-1: Encouraging Multi-Zone Discovery Lower Sinu-SJ Mag A-Limestone production: 1,925 bopd…
  12. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 12
    Core Assets 13
  13. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 13
    CORE PRODUCING PROPERTIES Acordionero Costayaco & Moqueta 33% of production1 32% & 15% of production1 (47%) 42% of 2P reserves2 Lower Sinu-SJ Mag Basin Basin 23% & 16% of 2P reserves2 Acquired in 2016 Acordionero (39%) Near-term…
  14. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 15
    ACORDIONERO: MATERIAL PRODUCTION GROWTH1 Acquisition of PetroLatina closes; Aug.23, 2016-Sep.30, 2017: Gran Tierra assumes operatorship oil production increased from 4,730 to 12,870 BOPD2 (172%) from drilling 9 development wells,…
  16. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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 Reductions in drilling time have led to material 0 ft reductions in capital…
  18. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 19
    COSTAYACO: A-LIMESTONE, EXCITING NEW OIL PLAY Since Oct. 2016, A-Limestone has produced gross cumulative oil production of 1,000,000 bbls from Costayaco & Vonu-1 No water production encountered to date, potentially indicating…
  20. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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 Gran Tierra benefitting from both better crude prices and narrowing…
  22. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 22
    Exploration 23
  23. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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 Potential net oil pay identified in Siriri-1 M2…
  25. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 27
    VONU-1 DISCOVERY1 (PUT-1 BLOCK) Log Analysis Net Oil Pay (ft, TVD) Initial 7-day test Extended short-term test N Sand 8 M1 Limestone 3 Larger M2 Limestone 9 flowline A-Limestone 91 U Sand 15 TOTAL 126 Other Oil Production…
  28. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 28
    SIRIRI-1 PROSPECT (PUT-4 BLOCK) - MULTI-ZONE POTENTIAL1 A Siriri-1 A Spud: August 20th, 2017 PUTUMAYO A BASIN Put 4 Block ORITO Siriri A Log AnalysisNet Oil Pay (ft, TVD) A MAXINE Upper Pepino 34 NANCY N Sand 8 M2…
  29. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 29
    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…
  30. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 30
    COLOMBIA EXPLORATION PROJECTS 2017 / Q1 2018 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 1 well 1 well 1 well 2-3 wells 4-6 wells Confianza Vonu Siriri Ayombero Totumillo Northwest Tonga Nancy 2 Nancy 3 (PUT-7) (PUT-1) (PUT-4)…
  31. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 31
    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…
  32. Visible Production Growth & High Impact Exploration – Gran Tierra Energy, Inc. – slide 32
    Appendix 33
  33. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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. Visible Production Growth & High Impact Exploration – 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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