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November 2018 Investor Presentation – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Nov 9, 2018 · 32 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. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 1
    Creating Value in Colombia November 2018
  2. November 2018 Investor Presentation – 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. November 2018 Investor Presentation – 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 LONG-TERM…
  4. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 4
    Q4/2018 Q1/2019: KEY UPCOMING CATALYSTS All wells GTE-operated, 100% Working Interest Middle Magdalena Valley 3 - 4 appraisal oil wells at Ayombero, Basin Midas Block (La Luna carbonate) Forecasted growth in Acordionero oil…
  5. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 5
    LISTING ON LONDON STOCK EXCHANGE Trading of GTEs common shares on London Stock Exchange (LSE) commenced on October 10, 2018 under the ticker GTE; GTE shares continue to trade on NYSE American and TSX LSE listing expected to:…
  6. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 6
    DELIVERING ON OUR FOCUSED STRATEGY 1 Production Growth 2 Reserves Growth1 (mboe/d, gross W.I.) (mmboe, gross W.I.) 194% 60% 142% 75% 3 Expanded Exploration NAV Per Share Growth1,2 4 Potential1 (US/share) (mmboe, mean…
  7. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 7
    NET ASSET VALUE Dec.31/2017 NAV Before Tax (USMM, US/share)1 Oct.30/2018 Share Price US 3.03/share Gran Tierra shares currently trade at a significant discount; 0.5 x of 2P NAV per share 1. Based on 2017 McDaniel Reserve…
  8. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 8
    STEADILY GROWING PRODUCTION From under 25,000 boepd in mid-2015 to a forecasted 50,000 boepd in 20201 1. Based on GTE 2015-2017 actuals, 2018 production guidance & 2017 McDaniel Reserve Report 9
  9. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 9
    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 =…
  10. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 10
    Q3/2018 RESULTS & OPERATIONAL HIGHLIGHTS o Record Quarterly Production, On Track To Achieve Guidance2 Q3/2018 Q3/2017 Change - Q3/2018 averaged 36,170 BOEPD WI Production (boepd) 36,170 32,570 11% - On track to achieve full year 2018…
  11. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 11
    2018 GUIDANCE1 GROWTH WITHIN CASH FLOW Production Guidance Capital Guidance WI Production (boepd) 36,500 38,500 Total Capital (MM) 320 - 330 y-o-y growth2 16 23% Cash Flow Guidance Brent (/bbl) 72 Cash Flow4 (MM) 330-340 Expense…
  12. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 12
    2018 CAPITAL PROGRAM DETAILS Development Capital (220 MM; 67%) New storage tanks and new processing equipment under Acordionero (MMV) construction Drill 16 wells: 14 development & 2 water injection CPF expansion Gas-to-power…
  13. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 13
    SUSTAINABLE BUSINESS MODEL Over the last three quarters, Brent average oil price = 73/bbl Cash Flows, Capital & Leverage 57/bbl Brent 72/bbl Brent Cash Flow1 MM 265 - 285 330 - 340 Cash Flow per Share /Share 0.68 - 0.73 0.84 - 0.87…
  14. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 14
    DEPLOYING CAPITAL PROFITABLY GTE already generates high return on capital 2P Recycle Ratio1 employed (ROCE), over 15% YTD in 2018 4.0 3.5 Over time, GTE to ROCE to trend towards 3.0 long-term internal rate of return target of 20%+…
  15. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 15
    ACORDIONERO (MMV) SNAPSHOT o Acordionero: major oil producing asset in MMV - GTE increased fields production by 299% since acquisition, all while generating free cash flow o Near-term production growth engine - 3Q/2018 production of…
  16. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 16
    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…
  17. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 17
    PUTUMAYO SNAPSHOT o Dominant land position & proprietary seismic database - GTE: largest landholder (1.1 million gross acres) & operates 14 out of 15 blocks - Substantial seismic database covering much of basin - Unrisked Mean…
  18. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 18
    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…
  19. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 19
    TRANSPORTATION OPTIONALITY Barranquilla Ample takeaway capacity and no infrastructure Cartagena / Puerto Baha bottlenecks to GTEs operations Cov eas Lower Mag Basin Spare capacity exists in many pipelines due to Ayacucho…
  20. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 20
    OIL PRICE UPSIDE EXPOSURE Vasconia Brent differential GTE produces nearly 100% oil; all crude sales contracts use Brent as the reference price Over 80% of forecasted 2018 production has exposure to oil price upside 50% of GTE…
  21. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 21
    ENVIRONMENTAL, SOCIAL & GOVERNANCE EXCELLENCE Safety Greenhouse Gas NaturAmazonas Emissions Project GTE is committed to being an industry leader in GTE voluntarily discloses greenhouse GTE has positive impact on areas Health and…
  22. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 22
    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 Significant…
  23. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 23
    Appendix
  24. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 24
    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 &…
  25. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 25
    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 60%, RLI = 11 yrs Focus on Colombia P Brazil assets sold, Peru assets…
  26. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 26
    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…
  27. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 27
    DEBT/CASH FLOW PEER COMPARISON Gran Tierra is committed to maintaining a strong balance sheet & has low leverage relative to its peers Source: Scotiabank research, Oct. 31, 2018; CDN Peers: AAV, BIR, BNP, BTE, BXE, CR, ERF, PGF,…
  28. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 28
    PETROLATINA: TRANSFORMATIONAL ACQUISITION IN MMV Reserves2 o In August 2016, GTE made transformational & (MMBOE; W.I.) strategic acquisition of PetroLatina for US525 million 18% o Provided diversification into prolific Middle…
  29. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 29
    PUTUMAYO: COSTAYACO & MOQUETA ASSET OVERVIEW Reserves2 (MMBOE; W.I.) o Low decline rates for existing production of 17% 1,2 (Costayaco) & 12%1,2 (Moqueta) o 100% working interest (operator) o High netback 29 API oil Overview o…
  30. November 2018 Investor Presentation – 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. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 31
    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…
  32. November 2018 Investor Presentation – Gran Tierra Energy, Inc. – slide 32
    900, 520 3RD AVENUE SW CALGARY, ALBERTA, CANADA T2P 0R3 END Investor Relations 403-265-3221 infograntierra.com 38

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