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February 2018 Corporate Presentation – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Feb 28, 2018 · 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. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 1
    Creating Value in Colombia: Accretive Production Growth & High-Impact Exploration, Funded Through Cash Flow February 2018
  2. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 2
    Company Overview 3
  3. February 2018 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 Sinu Basin - Gran Tierra had W.I. production of 34,477…
  4. February 2018 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. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 5
    TRANSFORMATION TO GROWTH COMPANY Appraisal & Significant Organic Exploration Upside Growth & Exploration Harvest free cash flow Discoveries from operations Added 2P/3P Production up 20%1 Continue developing Reserves/ Increased…
  6. February 2018 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. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 7
    DELIVERING ON OUR FOCUSED STRATEGY 10% 203 1 Production Growth 2 Reserves Growth1 185 (mboe/d, gross W.I.) (mmboe, gross W.I.) 14% 169% 18% 33% 137 116 105% 14% 35 69 30 57 54% 74 23 65 42 Dec-15 Dec-16 Dec-17 Q4/2015…
  8. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 8
    NET ASSET VALUE 4,000 Dec.31/2017 Net Asset Value (NAV) Before Tax (USMM, US/share)1 3,500 8.57 3,353 3,000 Feb.23/2018 Share Price 1,125 2,500 US 2.74/share 5.69 2,000 2,228 1,107 1,500 272 2.87 459 1,000 1,121 935…
  9. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 9
    MATERIAL GROWTH: RESERVES AND VALUE1 Gross WI Dec.31/2017 2P Reserves by Property (MMboe) For 2017 year-end versus 2016 year-end, in terms Minor Fields 14 of gross W.I. Proved + Probable Reserves (2P): Suroriente 3 Reserves = 137…
  10. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 10
    MATERIAL GROWTH: PROSPECTIVE RESOURCES1 Dec.31/2017 Gross WI Unrisked Mean Prospective Resources by Basin (MMboe) Middle For 2017 year-end versus 2016 year-end, in terms Magdalena of gross W.I. Mean Prospective Resources: Valley 88…
  11. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 11
    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 Growth2 16% 23% Development (19 21 gross wells) 100 105…
  12. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 12
    DEBT/CASH FLOW PEER COMPARISON 8 7 6 2018E Debt / Cash Flow (x's) 5 4 3 2 1 0 GTE Intl Peer Avg Cdn Peer Avg Peer 4 Peer 17 US Peer Avg Peer 30 Peer 1 Peer 2 Peer 3 Peer 5 Peer 6…
  13. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 13
    TRANSPORTATION & MARKETING o Marketing team constantly optimizing crude sales to achieve highest netbacks - Variability of pricing/discounts requires proactive approach Area Export Point Transport Methods Cost1 4 1 3 OCP pipeline…
  14. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 14
    Acordionero (Middle Magdalena Valley Basin - MMV) 15
  15. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 15
    PETROLATINA: TRANSFORMATIONAL ACQUISITION o In July 2016, we announced the transformational and strategic Reserves2 acquisition of PetroLatina for consideration of US525 million (MMBOE; W.I.) 18% 116 o The acquisition provided…
  16. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 16
    ACORDIONERO (MMV) SNAPSHOT o Acordionero assets in the Middle Magdalena Valley Basin (MMV) acquired in August 2016 (PetroLatina acquisition) Acordionero Area Overview - Gran Tierra has grown Acordionero oil production by 248% since…
  17. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 17
    ACORDIONERO (MMV) ASSET OVERVIEW o Low decline rate for existing production of 14% 1 Forecast Full 2P Development Plan2,3 o 100% working interest (operator) o High netback 19 API oil o Stacked pay: Lisama A Acordionero-2 - Thick,…
  18. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 18
    ACORDIONERO: TYPE CURVE & ECONOMICS1 900 1,200 Economics2 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 Cost3 2.22/bbl 600 400 IRR 394% 300…
  19. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 19
    ACORDIONERO: FORECAST FULL 2P DEVELOPMENT PLAN1 Function Location Producers Injectors Total Remaining Lisama A Acordionero-2 Structure Pad AC-2 Pad 5 1 6 0 Map CPF Acordionero-1 AC-1 CPF Pad 5 1 6 0 Central Central Pad 4 1 5…
  20. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 20
    Putumayo (Costayaco & Moqueta) 21
  21. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 21
    PUTUMAYO SNAPSHOT o Maintain and grow existing production through the drill bit Putumayo Area Overview - Q4 2017 W.I. production of 17,705 BOEPD Putumayo Basin - 2P W.I. reserves1 of 57.3 MMBOE - Unrisked Mean Prospective Resources2 of…
  22. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 22
    COSTAYACO & MOQUETA ASSET OVERVIEW o Low decline rates for existing production of 17%1 (Costayaco) and Reserves2 12%1 (Moqueta) (MMBOE; W.I.) o 100% working interest (operator) Costayaco Moqueta 48.4 o High netback 29 API oil 35.7 o…
  23. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 23
    THREE STRATEGIC ACQUISTIONS IN PUTUMAYO BASIN o In 2016, we completed three acquisitions in the Putumayo Basin Reserves1 for total consideration of US126 million (MMBOE; W.I.) - Consolidated our position in the Putumayo and provided…
  24. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 24
    Exploration 25
  25. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 25
    HIGH-IMPACT COLOMBIAN EXPLORATION PORTFOLIO Competitive advantages in Putumayo MEAN PROSPECTIVE RESOURCES1 Proprietary regional seismic coverage of 2D & 3D SINU BASIN 986K acres Large contiguous land base and infrastructure 101 mmboe…
  26. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 26
    PUTUMAYO BASIN STACKED PAYS OIL RESERVOIR ANALOG FIELDS N Sands Stratigraphic Play Cumplidor N Sand Discoveries/appraisal: Cumplidor-1, Alpha-1, Confianza-1, Nancy-1 Quinde Cohembi Potential net oil pay identified in Siriri-1 Play…
  27. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 27
    EXPLORATION UPSIDE WITH LARGE RESOURCE BASE McDaniel 2017 Year End Colombia Gross W.I. Prospective Resources1 UNRISKED Chance of RISKED Well Locations or Drilling Low Best High Mean Discovery Development Mean Basin Opportunities2 Oil…
  28. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 28
    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 -…
  29. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 29
    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…
  30. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 30
    VONU-1 DISCOVERY1 (PUT-1 BLOCK) Log Analysis: Net Oil Pay (ft, TVD) Increased Pump Initial 7-day test Frequency N Sand 8 M1 Limestone 3 Larger M2 Limestone 9 flowline A-Limestone 91 U Sand 15 TOTAL 126 Other Oil…
  31. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 31
    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…
  32. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 32
    2017, SAFEST YEAR IN GTE HISTORY In 2017 GTE achieved the best safety record in the company's history, in a very busy year Lost time injury rate and recordable safety incident rate are down by 50% since 2014 Gran Tierras 2017 lost…
  33. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 33
    NATURAMAZONAS PROJECT GTE has signed a partnership Project targets: agreement with Conservation 1,000 hectares of land reforested International, a non-profit 200 families to be trained in techniques environmental organization, for…
  34. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 34
    SUMMARY OF KEY INVESTMENT ATTRIBUTES High Quality Assets Sinu-SJ Accretive Production/Reserves Basin Growth Middle Mag Basin High Impact Exploration Llanos lBogota Basin Funded Through Cash Flow Putumayo…
  35. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 35
    Appendix 36
  36. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 36
    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 &…
  37. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 37
    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%…
  38. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 38
    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…
  39. February 2018 Corporate Presentation – Gran Tierra Energy, Inc. – slide 39
    PRESENTATION OF OIL & GAS INFORMATION Gran Tierra's Statement of Reserves Data and Other Oil and Gas Information on Form 51-101F1 dated effective as at December 31, 2017 (the GTE NI 51-101F1), which includes disclosure of its oil and gas…
  40. February 2018 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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