Mediterranean Oil & Gas Value Proposition Value Creation Management Opportunity Portfolio Management Investor Base Cash Flow Opportunity for Portfolio of Management Supportive Production value creation production, with extensive…
Results Delivering on Our Promises 4
Unlocking the Potential of Mediterranean Oil & Gas Recent Track Record Mar 2014 Preparing to spud exploration June 2013 well in offshore Entry into Malta Area 4 Feb 2013 exploration well Hagar Qim 1 Completion of study…
2013 Financial Highlights Gas production 1.0 Bcf compared to 1.7 Bcf in 2012 Revenues 8.4 million down from 16.3 million in 2012 Profit or Loss from Operations 4.4 million loss down from 4.1 million profit in 2012 Net operating 1.2…
Our team Capable From Start to Finish 7
Board of Directors A small team of big operators Keith Henry Bill Higgs Sergio Morandi Chairman Chief Executive Chief Operating Officer Over 35 years experience in Over 24 years of global Over 32 years of experience the energy,…
Board of Directors A small team of big operators Chris Kelsall Peter Jackson Enrico Testa Finance Director NonExecutive Director NonExecutive Director Over 18 years experience in Over 30 years industry Over 18 years experience in…
Capable and Credible from Start to Finish Our key strengths for growth Attractive Competitive Financial Resources Prospective Advantage Strength Factory Resources Regional Debt Free Balanced Growth Operator Portfolio Opportunity…
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Our Assets Reliably Delivering 12
Our Assets 1 2 3 Northern Adriatic Onshore Italy Ombrina Mare Gas exploration, development Gas exploration, Oil & gas exploration & & production: development & production: development: Non-operated gas production Geographically…
Production and Development Assets Northern Adriatic Gas Play 1 Exploration, development Production Concessions and production & Exploration Permits Guendalina field provides 75% AC 35 AG with 20% WI of revenues Guendalina: 3.7* Bcf…
Production and Development Assets Onshore Italy Foredeep Gas Play 1 Exploration, development Production Concessions and production & Exploration Permits Low risk production and Operated: exploration opportunities 5 Concessions…
Proposed exploration well 2Q 2014 Faseto exploration prospect Faseto FASETO Target: Middle Miocene gas play Trap: Fault bounded structural trap Reservoir: Marnoso-Arenacea Fm sandstones Expected hydrocarbons: Gas & Condensate…
Production and Development Assets Ombrina Mare Oil & Gas Play 0 5 10 km 1Exploration & development Exploration Permit 100% operated oil and gas BR 269 GC with 100% WI discovery with upside potential 25.1* MMbo 2C oil reserves…
Ombrina Mare Strategy Drill appraisal well to increase reserves OBM3DIR OBM1 OBM2 & 2DIR OBM3DIR Appraisal Strategy OBM2 OBM1 Conduct production test in OBM2DIR Cretaceous (currently 1 to 17 MMbo Contingent Resources) Drill a…
Exploration Assets Southern Apennines Oil & Gas Play 1 Exploration Exploration Permits Monte Grosso exploration Serra San Bernardo with 23% prospect on trend with proven WI (Operator); ENI 65% & fields Total 12% 0 10 20 km…
Exploration Assets Offshore Malta Area 3 Oil & Gas Play Exploration Licences Offshore Malta Area 3 Blocks 1, 2, & 3 40% Working Interest with Cairn Energy Plc (60% ,Operator) Over 6,400 km2 on the southern margin of a proven…
Proposed 2D Seismic Acquisition 2Q 2014 ESA Seismic Programme Area 3 Blocks 1, 2 & 3 1500 km of modern 2D Seismic Processing of 2D seismic with 1 2 modern broadband techniques Survey is expected to commence early April 2014 3…
Exploration Assets Offshore Malta Area 4 Oil & Gas Play Exploration Licences Offshore Malta Area 4 25% Working Interest with Genel Energy plc (75%) Over 5,700 km2 Exploration Study Agreement started in 2005 Production Sharing…
Offshore Malta Exploration Sale agreed with Genel Energy Plc Experienced Joint Venture Partnership: Agreement Frontier exploration play similar to Libya and Tunisia CPR completed in October 2012 Maltese Government approved…
Proposed 1st exploration well 1Q 2014 Hagar Qim exploration prospect Hagar Qim Target: Lower Eocene/Paleocene HAGAR QIM carbonates Trap: Structural (4-way dip closure) with a stratigraphic component Reservoir: Carbonate ramp…
Area of Mutual Interest with Genel Energy Plc Offshore Basins of Malta, Libya and Tunisia Production Concessions & Exploration Licences Area of Mutual Interest (AMI) Agreement to cooperate in acquiring exploration and production…
Exploration assets France gas play 0 25 50 km 1 Exploration Exploration Licences Frontier exploration play similar St. Laurent Permit to North Sea southern gas MOG (11.2%) with Sterling basin Resources Ltd (33.4 %), Structural…
Value Creation Delivering Results 27
Market Outlook European natural gas prices Access to resources will become remain de-linked from lower North more challenging with time American prices short-term Regulatory oversight, constraint Italy remains an advantaged and risk…
Resources Factory Reserves (P) PRODUCE Assets near-to or on production. Proved Probable Possible Reservoir Performance and P1 P2 P3 Operational Reliability are key. REACH INVESTMENT DECISIONS MATURATION Contingent Resources…
Resources Factory Inventory Know where you stand Millions of barrels of oil equivalent PRODUCE 2013 Production = RESERVES P1 P2 P3 1.0 Bcf 0.6 0.4 0.4 175,420 boe REACH INVESTMENT DECISIONS PROSPECTIVE CONTINGENT RESOURCES…
Asset Development Plans 2014-2016 2014 2015 2016 EXPLORATION ASSETS* 1H 2H 1H 2H 1H STUDIES & PERMITTING Northern Adriatic Production DRILLING Onshore Italy Foredeep Production EVALUATION Faseto Exploration DEVELOPMENT…
Expanding our Resources Factory Regional expertise, global experience Objectives: Add high quality acreage to diversify portfolio Short-term focus on greater Mediterranean rim countries Cash position allows small asset farm-in…
Contact us Corporate Office: 68 King William St London EC4N 7DZ UK Operations Office: Via Cornelia 498 Roma 00166 Italy T: +44 20 7959 2322 E: infomedoilgas.com W: www.medoilgas.com 33
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