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August 2018 Enercom Conference – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Aug 21, 2018 · 33 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. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 1
    EnerCom: The Oil & Gas Conference Denver Creating Value in Colombia August 21, 2018
  2. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 2
    COMPANY SNAPSHOT Gran Tierra: publicly listed, independent international exploration & production company focused in onshore Colombia Operating Statistics 2016 2017 2018E W.I. Production (boepd)1 26,216 31,426 36,500-38,500 Cash Flow…
  3. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 3
    GRAN TIERRA EXCELLENT VALUE PROPOSITION Focused on full-cycle returns Low decline rates Management track record of Top quartile netbacks adding value High impact exploration Value- High Quality Driven Assets CREATE Objective:…
  4. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 4
    SECOND HALF 2018: UPCOMING CATALYSTS All wells GTE-operated, 100% Working Interest Middle Magdalena 3 appraisal oil wells at Ayombero, Valley Basin Midas Block (La Luna carbonate) Forecasted growth in Acordionero oil production…
  5. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 5
    DELIVERING ON OUR FOCUSED STRATEGY 1 Production Growth 2 Reserves Growth1 (mboe/d, gross W.I.) (mmboe, gross W.I.) 194% 57% 142% 75% 3 Expanded Exploration NAV Per Share Growth1,2 4 Potential1 (US/share) (mmboe, mean…
  6. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 6
    NET ASSET VALUE Dec.31/2017 NAV Before Tax (USMM, US/share)1 Aug.13/2018 Share Price US 3.19/share Gran Tierra shares currently trade at a significant discount; 0.6 x of 2P NAV per share2 1. Based on 2017 McDaniel Reserve…
  7. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 7
    STEADILY GROWING PRODUCTION Gran Tierra WI Colombia Only Production 50,000 45,000 40,000 36,500 - 38,500 35,000 30,000 BOEPD 25,000 Forecast Actuals 20,000 15,000 10,000 5,000 - 2015 2016 2017 2018 E 2020 E…
  8. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 8
    MATERIAL GROWTH: RESERVES AND VALUE1 2P Reserves by Property1 (MMboe) 85% of 2P reserves in 4 core fields Reserves = 137 MMBOE (99% oil), up 18% y-o-y Reserves/share2 up 20% y-o-y 2P NAV/share up 29% Reserves replacement2 =…
  9. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 9
    Q2/2018 RESULTS & OPERATIONAL HIGHLIGHTS Quarterly Comparison Q2/2018 Q1/2018 % Change o Record Quarterly Production, On Track To Achieve Guidance2 WI Production (boepd) 35,400 35,075 1% - 2Q/2018 averaged 35,400 BOEPD Funds Flow (MM)1…
  10. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 10
    2018 UPDATED GUIDANCE1 GROWTH WITHIN CASH FLOW Production Guidance Capital Guidance WI Production (boepd) 36,500 38,500 Total Capital (MM) 305 - 325 y-o-y growth2 16 23% Cash Flow Guidance PREVIOUS NEW3 2018 Capex Program Brent (/bbl) 57…
  11. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 11
    2018 CAPITAL PROGRAM DETAILS Development Capital (210 220 MM; 68%) Acordionero new Acordionero (MMV) storage tanks Drill 12 wells: 10 development & 2 water injection CPF expansion Gas-to-power project Exploration Capital Ayombero…
  12. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 12
    SUSTAINABLE BUSINESS MODEL During Q2/2018, Brent average oil price = 75/bbl Cash Flows, Capital & Leverage ORIG. BUDGET REVISED BUDGET 57/bbl Brent 72/bbl Brent Cash Flow1 MM 265 - 285 330 - 340 Cash Flow per Share /Share 0.68 - 0.73…
  13. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 13
    ACORDIONERO (MMV) SNAPSHOT o Acordionero: major oil producing asset in MMV - GTE increased fields production by 274% since acquisition, all while generating free cash flow o Near-term production growth engine - Current1 production of…
  14. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 14
    AYOMBERO-1: EXCITING MMV LA LUNA RESULTS Spud Nov. 13, 2017 La Luna Depth Map Galembo 200 ft. contour interval Galembo member: 200-275 ft of net oil pay Only 70 ft perforated to date Natural flow of 250 bopd of 19API, no…
  15. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 15
    PUTUMAYO SNAPSHOT GTE Blocks o Dominant land position & proprietary seismic database - GTE: largest landholder (1.1 million gross acres) & operates 14 out of 15 blocks - Substantial 2D/3D seismic database covering much of basin -…
  16. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 16
    PUTUMAYO BASIN STACKED PAYS OIL RESERVOIR ANALOG FIELDS N Sands Stratigraphic Play Cumplidor Discoveries/appraisal: Cumplidor-1 & 2, N Sand Alpha-1, Confianza-1, Nancy-1 Dec.31/2017 Putumayo Quinde Cohembi Amplitudes identifiable…
  17. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 17
    ENVIRONMENTAL, SOCIAL & GOVERNANCE EXCELLENCE Safety Greenhouse Gas NaturAmazonas Emissions Project GTE is committed to being an industry leader GTE voluntarily discloses GTE has positive impact on areas in Health and Safety. We…
  18. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 18
    SUMMARY OF KEY INVESTMENT ATTRIBUTES High Quality Assets Accretive Production/Reserves Growth Middle Magdalena Valley Basin High Impact Exploration Llanos Basin Funded Through Cash Flow Putumayo Basin…
  19. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 19
    Appendix
  20. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 20
    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 &…
  21. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 21
    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 57%, RLI = 11 yrs Focus on Colombia P Brazil assets sold, Peru assets…
  22. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 22
    KEY ASSET OVERVIEW Colombia Other Acordionero, Appraisal & Development of New Fields Longer Term Growth Ayombero, Strategy Near-term conventional production growth funded by its own cash flow Other MMV Middle Magdalena Ayombero: 3…
  23. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 23
    ACORDIONERO (MMV) ASSET OVERVIEW Lisama A Sand Structure Map o Low decline rate for existing production of 14% 1,3 o 100% working interest (operator) o High netback 19 API oil o Stacked pay: Overview - Thick, permeable oil pay in…
  24. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 24
    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 exposure to oil price upside 50% of our oil hedges (5,000 of 10,000 bbl/d)…
  25. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 25
    STRONG OIL PRICING IN COLOMBIA1 Vasconia Brent spread WTI Midland Brent spread Crude oil prices strong in Colombia with steady differentials, unlike U.S. & Canadian differentials 1. Source: Bloomberg 26
  26. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 26
    DEBT/CASH FLOW PEER COMPARISON 9 8 2018E Debt / Cash Flow (x's) 7 6 5 4 3 2 1 0 Cdn Peer US Peer Intl Peer GTE Peer 1 Peer 2 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 14 Peer 29 Peer 10…
  27. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 27
    PETROLATINA: TRANSFORMATIONAL ACQUISITION IN MMV Reserves2 o In August 2016, GTE made transformational & strategic (MMBOE; W.I.) acquisition of PetroLatina for US525 million 18% o Provided diversification into prolific Middle…
  28. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 28
    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) o 100% working interest (operator) o High netback 29 API oil Overview o…
  29. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 29
    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…
  30. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 30
    LARGE PUTUMAYO SEISMIC DATABASE o Gran Tierra has a substantial Costayaco proprietary seismic database Moqueta covering much of the Putumayo Vonu Basin - 3D: 1,716 km2 - 2D: 16,807 km o N Sand and A-Limestone plays are clearly…
  31. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 31
    VONU-1 A-LIMESTONE DISCOVERY1 (PUT-1 BLOCK) Log Analysis: Net Oil Pay (ft, TVD) Increased Pump N Sand 8 Frequency M1 Limestone 3 M2 Limestone 9 Initial 7-day test A-Limestone 91 U Sand 15 Larger flowline TOTAL 126 Other…
  32. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 32
    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…
  33. August 2018 Enercom Conference – Gran Tierra Energy, Inc. – slide 33
    900, 520 3RD AVENUE SW CALGARY, ALBERTA, CANADA T2P 0R3 Investor Relations 403-265-3221 infograntierra.com 39

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