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December 2017 Corporate Presentation – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Dec 21, 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. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 1
    Visible Production Growth & High-Impact Exploration, Funded Through Cash Flow December 2017
  2. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 2
    Company Overview 3
  3. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 3
    COMPANY SNAPSHOT GTE Blocks o Gran Tierra is a publicly listed, independent international exploration and production company with onshore oil production focused in Colombia Lower - Gran Tierra had W.I. production of 32,570 BOEPD…
  4. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 4
    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 Objective: Grow LONG-TERM NAV/share1 by 3-5…
  5. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 5
    TRANSFORMATION TO GROWTH COMPANY Appraisal & Exploration Upside Harvest free cash flow Added 2P/3P from operations Reserves/ Exploration Upside Continue developing Acordionero Consolidated Putumayo Exploiting new…
  6. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 6
    KEY ASSET OVERVIEW Colombia Other Appraisal and Development of New Fields Longer Term Growth Acordionero Near-term conventional production growth with sufficient free cash flow Strategy Middle Magdalena to fund development; cost…
  7. December 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) 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. December 2017 Corporate Presentation – 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 Dec.21/2017 1,120 Share Price 2,000 US 2.65/share 4.35 1,716 1,500 860 244 250 1,000 2.17 862 856 500 0 Proved Proved Net Debt 1P…
  9. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 9
    2018 GUIDANCE1 GROWTH WITHIN CASH FLOW Production and Cash Flow Guidance Capital Guidance & Drilling Program W.I. Production (boepd) 36,500 38,500 Total Capital (MM) 250 270 YoY Growth 20% 27% Development (19 21 gross wells) 100 105 Cash…
  10. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 10
    NETBACK COMPARISON Operating Netback1 Peer Comparison, Q3 2017 (US/boe ) Gran Tierra has top quartile netbacks 1) Operating netback is a non-GAAP measure & does not have a standardized meaning under generally accepted accounting…
  11. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 11
    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…
  12. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 12
    TRANSPORTATION & MARKETING o Marketing team constantly optimizing crude sales to achieve highest netbacks - Variability of pricing/discounts requires proactive approach 4 Area Export Point Transport Methods Cost1 3 1 OCP pipeline…
  13. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 13
    Acordionero (Middle Magdalena Basin) 14
  14. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 14
    ACORDIONERO (MMV) SNAPSHOT o Acordionero assets in the Middle Magdalena Valley Basin were acquired in August 2016 (PetroLatina acquisition) Acordionero Area Overview - Gran Tierra has grown Acordionero oil production by 225% since…
  15. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 15
    ACORDIONERO (MMV) ASSET OVERVIEW o Low decline rate for existing production of 12% 1 Forecast Full 2P Development Plan2,3 o 100% working interest (operator) o High netback 18 API oil Lisama A Acordionero-2 o Stacked pay: Structure…
  16. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 16
    ACORDIONERO: TYPE CURVE & ECONOMICS 900 1,200 Economics1 800 Cost 3.5MM Cumulative Oil Production (mbbl) 1,000 700 NPV10 BT 32.4MM Daily Rate (bbl/d) 600 800 EUR 1.57mmbbl 500 F&D Cost2 2.22/bbl 600 400 IRR 394% 300…
  17. December 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 Reductions in drilling time have led to material 0 ft reductions in capital…
  18. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 18
    ACORDIONERO: FORECAST FULL 2P DEVELOPMENT PLAN1 Lisama A Function Location Producers Injectors Total Remaining Acordionero-2 Structure Pad AC-2 Pad 5 1 6 0 CPF Acordionero-1 AC-1 CPF Pad 5 1 6 0 Central Pad 4 1 5 5 Central…
  19. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 19
    Putumayo (Costayaco & Moqueta) 20
  20. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 20
    PUTUMAYO SNAPSHOT o Maintain and grow existing production through the drill bit - Q3 2017 W.I. production of 19,329 BOEPD Putumayo Area Overview - 2P W.I. reserves1 of 57.2 MMBOE Putumayo Basin - Dominant Putumayo land position: 16…
  21. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 21
    COSTAYACO ASSET OVERVIEW o Low decline rate for existing production of 19%1 o 100% working interest (operator) o High netback 29 API oil o Strong, reliable cash flow is generated from the Costayaco field with Overview minimal future…
  22. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 22
    MOQUETA ASSET OVERVIEW o Low decline rate for existing production of 13%1 o 100% working interest (operator) o High netback 29 API oil o Good waterflood response evident - gas oil ratio is decreasing and fluid Overview production is…
  23. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 23
    Exploration 24
  24. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 24
    HIGH-IMPACT COLOMBIAN EXPLORATION PORTFOLIO Competitive advantages in Putumayo Proprietary regional seismic coverage of 2D & 3D SINU BASIN Large contiguous land base and infrastructure 2 Prospects 2 Leads Significant multi-zone…
  25. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 25
    PUTUMAYO BASIN STACKED PAYS OIL RESERVOIR ANALOG FIELDS N Sands Stratigraphic Play Cumplidor N Sand Discoveries/appraisal: Cumplidor-1, Alpha-1, Confianza-1 Quinde Cohembi Potential net oil pay identified in Siriri-1 Play Fairway…
  26. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 26
    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 Carbonate analysis: Discovery - +200 wells analyzed basin-wide Vonu-1 -…
  27. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 27
    LARGE PUTUMAYO SEISMIC DATABASE o Gran Tierra has a substantial Costayaco Moqueta proprietary seismic database covering much of the Putumayo Basin Vonu - 3D: 1,716 km2 - 2D: 16,807 km o N Sand and A-Limestone plays are clearly…
  28. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 28
    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…
  29. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 29
    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…
  30. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 30
    2017 / 2018 COLOMBIA EXPLORATION DRILLING PLAN Sinu Basin Middle Mag Valley Basin Ayombero-1 Serafin-1 Acordionero Totumillo-1 Tonga-1 Moqueta Putumayo Basin Costayaco Llanos Basin Vonu-1 Comadreja-1 Exploration…
  31. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 31
    SUMMARY OF KEY INVESTMENT ATTRIBUTES High Quality Assets Lower Mag Sinu-SJ Basin Basin Visible Production Growth Middle Mag Basin High Impact Exploration lBogota Llanos Basin Fund Through Cash Flow Putumayo…
  32. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 32
    Appendix 33
  33. December 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. December 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. December 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. December 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. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 37
    HIGHLY EXPERIENCED MANAGEMENT TEAM Name Title Experience Gary President & Professional Engineer registered with APEGA with over 35 years of experience; prior to Gran Tierra, was Guidry CEO President & CEO of Caracal Energy, Orion Oil &…
  38. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 38
    BLOCK SUMMARY Basin Block Producing Fields Operated Working Interest Partners Gross Acres Putumayo Alea 1848-A N/A Yes 75% Vetra 75,764 Putumayo Alea 1947-C N/A Yes 75% Vetra 58,068 Putumayo Chaza Costayaco, Moqueta, Guriyaco Yes 100%…
  39. December 2017 Corporate Presentation – Gran Tierra Energy, Inc. – slide 39
    BLOCK SUMMARY Basin Block Producing Fields Operated Working Interest Partners Gross Acres Llanos El Porton N/A Yes 100% N/A 109,476 Llanos Garibay Jilguero No 30-50% Cepsa 1,903 Llanos LLA-1 N/A Yes 100% N/A 133,954 Llanos LLA-10 N/A…
  40. December 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 45

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