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May 2018 Company Presentation – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · May 16, 2018 · 31 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. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 1
    Creating Value in Colombia: Profitable Production Growth & High-Impact Exploration, Funded Through Cash Flow May 2018
  2. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 2
    COMPANY SNAPSHOT GTE Blocks o Gran Tierra: publicly listed, independent international exploration & production company with onshore oil production, focused in Colombia - Q1/2018 W.I. production = 35,075 BOEPD Sinu Basin - 2020…
  3. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 3
    GRAN TIERRA VALUE CREATION MODEL Low decline rates Focused on full-cycle returns Top quartile netbacks Value- High Quality Driven Assets CREATE Objective: Grow LONG-TERM NAV/share by 3-5 SHAREHOLDER VALUE times within 5…
  4. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 4
    2015 TO 2018: A TRANSFORMED COMPANY 2015 Key Goals Achieved Where We Are Now in 2018 Visible Reserves & Production Growth P 2P Reserves up 142%, Production up 55% Focus on Colombia P Brazil assets sold, Peru assets spun out…
  5. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 5
    DELIVERING ON OUR FOCUSED STRATEGY 203 1 Production Growth 2 Reserves Growth1 (mboe/d, gross W.I.) (mmboe, gross W.I.) 194% 55% 137 142% 35 69 57 75% 23 74 42 Dec/2015 Dec/2017 Q2/2015 Q1/2018 1P Reserves 2P Reserves 3P…
  6. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 6
    NET ASSET VALUE 4,000 Dec.31/2017 NAV Before Tax (USMM, US/share)1 3,500 8.54 May 4, 2018 3,371 3,000 Share Price 1,125 US 3.32/share 2,500 5.69 2,000 2,246 1,107 1,500 255 2.89 459 1,000 1,139 935 500 0 Proved…
  7. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 7
    MATERIAL GROWTH: RESERVES AND VALUE1 Gross WI Dec.31/2017 2P Reserves by Property (MMboe) Minor Fields 14 For 2017 year-end vs 2016 year-end, in terms Suroriente of gross W.I. 2P Reserves: 3 Ramiriqui 4 Reserves = 137 MMBOE (99%…
  8. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 8
    2018 GUIDANCE1 GROWTH WITHIN CASH FLOW Production Guidance Capital Guidance & Drilling Program W.I. Production (boepd) 36,500 38,500 Total Capital (MM) 275 295 YoY Growth2 16% 23% Development (19 21 gross wells) 100 105 Exploration (8…
  9. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 9
    Debt Maturity Profile SUSTAINABLE BUSINESS MODEL 300 300 During Q1/2018, Brent average oil price = 67/bbl 115 2018 2019 2020 2021 2022 2023 2024 2025 7-Year Senior Notes Convertible Debt Undrawn Bank Facility Cash Flows, Capital…
  10. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 10
    OIL PRICE UPSIDE EXPOSURE GTE produces nearly 100% oil; all crude sales contracts use Brent as the reference price Over 80% of forecasted net production has 4 exposure to oil price upside 3 50% of our oil hedges (5,000 of 10,000…
  11. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 11
    KEY ASSET OVERVIEW Colombia Other Appraisal & Development of New Fields Longer Term Growth Acordionero Strategy Middle Magdalena Near-term conventional production growth funded by its own cash flow Current1 production of 18,099…
  12. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 12
    PETROLATINA: TRANSFORMATIONAL ACQUISITION IN MMV Reserves2 o In August 2016, GTE made transformational & strategic (MMBOE; W.I.) acquisition of PetroLatina for US525 million 18% 116 98 o Provided diversification into prolific Middle…
  13. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 13
    Lisama A Sand Structure Map ACORDIONERO (MMV) SNAPSHOT o Acordionero: major oil producing asset in MMV - GTE increased fields production by 266% since acquisition, all while generating free cash flow o Near-term production growth…
  14. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 14
    PUTUMAYO SNAPSHOT Putumayo Basin Area Overview o Grow existing production through the drill bit - Q1 2018 W.I. production = 16,216 BOEPD - 2P W.I. reserves1 = 57.3 MMBOE - Unrisked Mean Prospective Resources2 of 1,155 MMBOE (297…
  15. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 15
    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…
  16. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 16
    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…
  17. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 17
    AYOMBERO-1: EXCITING LA LUNA RESULTS Spud Nov. 13, 2017 Galembo Galembo member: 200-275 ft of net oil pay Only 70 ft perforated to date Flowed up to 600 bopd of Puj. 19API on natural flow Pujamana member: Upside yet to…
  18. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 18
    ENVIRONMENTAL, SOCIAL & GOVERNANCE EXCELLENCE Safety Greenhouse Gas NaturAmazonas Emissions Project GTE is committed to being an industry leader GTE voluntarily discloses its GTE makes a positive impact on the in Health and…
  19. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 19
    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…
  20. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 20
    Appendix 21
  21. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 21
    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 &…
  22. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 22
    DEBT/CASH FLOW PEER COMPARISON 10 9 2018E Debt / Cash Flow (x's) 8 7 6 5 4 3 2 1 0 GTE Intl Peer Avg Peer 1 Peer 2 Peer 3 Peer 5 Peer 6 Peer 7 Peer 9 Cdn Peer Avg US Peer Avg Peer 10 Peer 11 Peer…
  23. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 23
    ACORDIONERO (MMV) ASSET OVERVIEW o Low decline rate for existing production of 14%1,3 o 100% working interest (operator) o High netback 19 API oil Overview o Stacked pay: Thick, permeable oil pay in Lisama A & C - - New discoveries…
  24. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 24
    PUTUMAYO: COSTAYACO & MOQUETA ASSET OVERVIEW Reserves2 o Low decline rates for existing production of 17%1,2 (Costayaco) & (MMBOE; W.I.) 12%1,2 (Moqueta) 48 Costayaco Moqueta 48.4 o 100% working interest (operator) o High netback…
  25. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 25
    THREE STRATEGIC ACQUISITIONS IN PUTUMAYO BASIN Reserves1 o In 2016, GTE completed 3 acquisitions in the Putumayo Basin for total consideration of US126 million (MMBOE; W.I.) - Consolidated GTEs position in Putumayo & provided…
  26. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 26
    HIGH-IMPACT COLOMBIAN EXPLORATION PORTFOLIO MEAN PROSPECTIVE RESOURCES1 Competitive advantages in Putumayo SINU BASIN Proprietary regional seismic coverage of 2D & 3D 986K acres Large contiguous land base & infrastructure 101 mmboe…
  27. May 2018 Company 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 Vonu Basin - 3D: 1,716 km2 - 2D: 16,807 km o N Sand and A-Limestone plays are clearly…
  28. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 28
    EXPLORATION UPSIDE WITH LARGE RESOURCE BASE McDaniel 2017 Year End Colombia Gross W.I. Prospective Resources1 UNRISKED Chance of RISKED Well Locations or Drilling Oil Low Best High Mean Discovery Development Mean % of Basin…
  29. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 29
    VONU-1 A-LIMESTONE DISCOVERY1 (PUT-1 BLOCK) Log Analysis: Net Oil Pay (ft, TVD) Increased Pump N Sand 8 Initial 7-day test Frequency M1 Limestone 3 M2 Limestone 9 Larger A-Limestone 91 flowline U Sand 15 TOTAL 126 Other Oil…
  30. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 30
    PRESENTATION OF OIL & GAS INFORMATION Reserves and Prospective Resources Information Unless otherwise noted, estimates of the Companys reserves, net present value of future net revenue attributable to Companys reserves and prospective…
  31. May 2018 Company Presentation – Gran Tierra Energy, Inc. – slide 31
    900, 520 3RD AVENUE SW CALGARY, ALBERTA, CANADA T2P 0R3 Investor Relations 403-265-3221 infograntierra.com 36

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