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Corporate Presentation – Ivanhoe Energy, Inc.

Ivanhoe Energy, Inc. · May 31, 2014 · 35 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. Corporate Presentation – Ivanhoe Energy, Inc. – slide 1
    Corporate Presentation May 2014 2013 Ivanhoe Energy All rights reserved
  2. Corporate Presentation – Ivanhoe Energy, Inc. – slide 2
    Ivanhoe Energy Presentation 3
  3. Corporate Presentation – Ivanhoe Energy, Inc. – slide 3
    Ivanhoe Energys Road Ahead Corporate Objectives: Commercialize HTL Achieve Government of Ecuador endorsement of consortium contract to develop Block 20 Finance our capital needs Maximize the value of the Tamarack asset within…
  4. Corporate Presentation – Ivanhoe Energy, Inc. – slide 4
    Ivanhoe Energy Liquidity Cash balance at March 31, 2014: 13.6 million Ivanhoe can sustain basic operations into September 2014 The Company is pursuing new funds through potential asset divestiture, strategic alliances and raising…
  5. Corporate Presentation – Ivanhoe Energy, Inc. – slide 5
    Proprietary Heavy Oil Upgrading Process Heavy-to-Light (HTL) IvanhoePresentation Ivanhoe Energy Energy Presentation 6
  6. Corporate Presentation – Ivanhoe Energy, Inc. – slide 6
    Crude Oil Demand & Supply Historic and Projected Global Crude Oil Demand Total Global Forecasted Growth Crude Demand 89 MMbbls/d 90,000 Brazil Offshore Deepwater Tight Oil Outside of North America 80,000 Tight Oil from North…
  7. Corporate Presentation – Ivanhoe Energy, Inc. – slide 7
    Heavy Crude Oil Demand & Supply Historic and Projected Global Crude Oil Demand 16,000 14,000 7 million bpd of new heavy oil 12,000 development needed to satisfy future thousand barrels per day 10,000 demand Heavy Oil…
  8. Corporate Presentation – Ivanhoe Energy, Inc. – slide 8
    Sources of Heavy Crude Oil Constrained by production technology or cost limits: 1.0 trillion bbls In politically or geographically unfavorable locations: 0.4 trillion bbls Higher quality heavy oil which is more easily…
  9. Corporate Presentation – Ivanhoe Energy, Inc. – slide 9
    HTL Heavy Crude Opportunities: Target Resources by Region Denotes total resource potential for HTL application Countries whose economic returns on planned growth can be enhanced using HTL Countries whose stranded resources can be…
  10. Corporate Presentation – Ivanhoe Energy, Inc. – slide 10
    Economic Challenges Facing the Traditional Heavy Oil Supply Chain Heavy Oil Production Costs Blending and Transportation Market Value of 20 API Blend Large energy requirement to Diluent value losses Blend sells at a significant…
  11. Corporate Presentation – Ivanhoe Energy, Inc. – slide 11
    HTL: a Partial Upgrading Process Low Capital Modular Selectively & Operating Constructability convert oil Cost residue to lighter product Reduce Thermal viscosity; High Yield no diluent conversion Low of High required for No…
  12. Corporate Presentation – Ivanhoe Energy, Inc. – slide 12
    A Paradigm Shift for Upgrading Heavy Oil Upgrading Today Upgrading Tomorrow Ivanhoe Energy Presentation 13
  13. Corporate Presentation – Ivanhoe Energy, Inc. – slide 13
    HTL Process Flow Ivanhoe Energy Presentation 14
  14. Corporate Presentation – Ivanhoe Energy, Inc. – slide 14
    HTL Commercial Development Commercial Plant Pilot Plant Tamarack (FEED Design) Ottawa, Canada 1990s 4.5 bpd 1:225 Commercial Demonstration Facility Bakersfield, California 2005 2009 1000 bpd 1.10* Feedstock Test Facility…
  15. Corporate Presentation – Ivanhoe Energy, Inc. – slide 15
    Why Partial Upgrading Less Complex than full upgrading Traditional Upgrader Sulfur Coke Storage Storage Distillation Unit vs. Feed Sulfur Coking Unit Fractionation Recovery Units vs. Reactor & Product Recovery Feed…
  16. Corporate Presentation – Ivanhoe Energy, Inc. – slide 16
    Partial Upgrading vs Full Upgrading Lower Cost HTL costs are significantly less than those of traditional upgrading 180,000 160,000 140,000 Western Canada / bbl capacity, 120,000 cost basis 100,000 Delayed Coking…
  17. Corporate Presentation – Ivanhoe Energy, Inc. – slide 17
    HTL High Value Synthetic Crude Oil HTL Synthetic Crude Oil should be valued on or close to par with Brent price Ivanhoe commissioned several international energy consultants to validate this perspective Significant opportunity for…
  18. Corporate Presentation – Ivanhoe Energy, Inc. – slide 18
    Comparing HTL SCO quality against other crudes Increasing Market Value 72/bbl 86/bbl 95/bbl 94-98/bbl 100/bbl 102/bbl Crude Oil Fractions, volume % 100 Naphtha 90 Kerosene 80 70 Distillate 60 50 40 VGO 30 20 10 Resid…
  19. Corporate Presentation – Ivanhoe Energy, Inc. – slide 19
    HTL Materially Increases Netbacks 67% Increase 38/bbl 46/bbl Traditional Netback Operating Costs: Op Costs Dilute and Diluent Value Loss, Transportation, Ship Model Production Opex, Energy Usage 84/bbl Bitumen (16/bbl…
  20. Corporate Presentation – Ivanhoe Energy, Inc. – slide 20
    Commercializing HTL: Business Models Field Integrated Model eg. Tamarack, Block 20 Midstream Model Projects in development Ivanhoe Energy Presentation 21
  21. Corporate Presentation – Ivanhoe Energy, Inc. – slide 21
    SBM Alliance Announced March 20 Global strategic alliance combining respective expertise to create Floating, Production, Upgrading, Storage and Offloading vessels (FPUSO's) HTL's small footprint and modularization capability makes…
  22. Corporate Presentation – Ivanhoe Energy, Inc. – slide 22
    Protecting HTL Process and Product In the US Ivanhoe Energy has six patents granted and 13 patent applications pending. Internationally there are 57 patents granted and an additional 32 patents pending. Expiration date for Ivanhoes…
  23. Corporate Presentation – Ivanhoe Energy, Inc. – slide 23
    International Oil Development IvanhoePresentation Ivanhoe Energy Energy Presentation 24 24
  24. Corporate Presentation – Ivanhoe Energy, Inc. – slide 24
    Ecuador: Block 20 Discovered in the 1980s, Block 20 encompasses 272,500 acres Close proximity to the Andes means geologic faulting is prevalent The potential to discover commercial quantities of oil within the Block is high…
  25. Corporate Presentation – Ivanhoe Energy, Inc. – slide 25
    Ecuador: Block 20 Ivanhoe currently holds a 30 year Specific Services Contract with the Ecuadorian Government Contracted to develop the heavy oil using HTL with an additional right to produce discovered light oil Contract service…
  26. Corporate Presentation – Ivanhoe Energy, Inc. – slide 26
    Ecuador: Ivanhoe Development History Evaluation program began in May 2009 and extended to December 2013 Two appraisal wells drilled in 2010; oil recovered from IP-5b well; Independent lab analysis indicates an API gravity of 9 to 10…
  27. Corporate Presentation – Ivanhoe Energy, Inc. – slide 27
    The Oil Sands IvanhoePresentation Ivanhoe Energy Energy Presentation 28 28
  28. Corporate Presentation – Ivanhoe Energy, Inc. – slide 28
    Tamarack Project 100% working interest 7,520 acre lease Recoverable Potential - 512 MMBO valued at (before tax) 1.4 billion 2P Reserves 172 mmbbls* PV10% (before tax) 617 million* Top tier reservoir quality Geology is…
  29. Corporate Presentation – Ivanhoe Energy, Inc. – slide 29
    Tamarack: Reserves & Resources Summary (GLJ December 31, 2013) Reserve Summary 600.0 PV 10 before Tax (US MM) 500.0 512.3 Recoverable (MMbbl) 400.0 340.5 300.0 Probable 845 617 171.8 Contingent (P50) 200.0 Possible…
  30. Corporate Presentation – Ivanhoe Energy, Inc. – slide 30
    Geology Comparison with Suncor Mackay River Parameter Units Mackay River Tamarack Level of delineation Wells per 16 16 section (in Phase 1 area) Net pay thickness metres Up to 35 Up to 47 (average 38) Oil saturation % 80 85 Porosity %…
  31. Corporate Presentation – Ivanhoe Energy, Inc. – slide 31
    Shallow Oil Sands Regulatory Environment The Alberta Energy Regulator (AER) is now completing a thorough technical review of the factors that affect reservoir containment of shallow steam-assisted gravity drainage (SAGD) projects in…
  32. Corporate Presentation – Ivanhoe Energy, Inc. – slide 32
    Appendix IvanhoePresentation Ivanhoe Energy Energy Presentation 33 33
  33. Corporate Presentation – Ivanhoe Energy, Inc. – slide 33
    Financial Summary at May 21, 2014 Stock Exchange Listings: TSX (IE) & NASDAQ (IVAN) Shares Outstanding: 115 million Fully Diluted 131 million Market Capitalization Cdn51.2 million Enterprise Value Cdn109 million Net Debt…
  34. Corporate Presentation – Ivanhoe Energy, Inc. – slide 34
    Projected Heavy Crude Production Rates 4,500 Thousands of barrels per day 4,000 3,500 3,000 2,500 2014 2030 2,000 1,500 1,000 500 0 HTL could prevent production HTL can improve economic HTL would enable access to…
  35. Corporate Presentation – Ivanhoe Energy, Inc. – slide 35
    Experienced Management Team Name Position Experience International Financier, Entrepreneur, Robert Friedland Founder & Executive Co-Chairman resource and technology focus Chemical Engineer; UOP; 35 years in Carlos A. Cabrera…

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