Building a long term regional champion Diverse, balanced portfolio - production, development and exploration Stable production generating strong cash flows High impact exploration multiple catalysts for growth Solid financial…
Strategically focused portfolio Core development and production assets in Algeria, Egypt and Bulgaria with production of 24.5 Mboepd(1) High impact exploration in Kurdistan Region of Iraq, Romania, Egypt, Italy and Greece 2P…
Sustainable and clear long term production profile* Mboepd, Working Interest basis 50 50 40 40 30 30 20 20 10 10 0 0 Gas Liquids Net entitlement 2013 Production guidance 24.5 Mboepd to 25.5 Mboepd *Assumes second Ain Tsila…
Active two year work programme Development projects and 16 Wells (8 firm exploration) 2013 2014* WK3 WK4 SEEM CRET WD HZ 14 WORKOVERS WD HZ 15 WORKOVERS WK 10 ST ST (CONT) SD 2 WK 9 Egypt DIKIRNIS REFRIGERATION & KHILALA…
Balanced financial strategy and capital allocation Strong cashflow generation from producing assets Country 2013 Forecast (m) low operating costs Exploration Development Total stable mix of liquids and gas Algeria - 11 11…
Producing assets Egypt and Bulgaria 7
Egypt production- stable cash flow and return on investment Operated assets onshore Nile Delta (100% working interest) 15 development leases, 12 fields on production Two key assets with long term production SE Mansoura exploration…
High value Bulgaria production Galata Block (100% WI) located in shallow water…
Development assets Algeria and Italy Material reserves and production growth 10
Algeria gas infrastructure Major pipeline routes and the Isarene permit location 11
Ain Tsila- in active development 2013 2014 2015 2016 2017 Award FEED Award EPC Drilling and on- Infrastructure Commissioning Accord Gaz Development going facilities liquids marketing first gas starts 56.625% operated working…
Positive Cash Flow Characteristics, Swift Payback 600 100 Field is cashflow positive from first 90 production. PSC structure guarantees rapid Refi/Corp repayment of capital investment 500 facility 80 14 year plateau - very…
Key appraisal / development asset: Elsa field, Italy Petroceltic operated asset (55% WI) discovered in 1992 Gross 2C contingent resource 95 MMbbls 65 metre oil pay zone identified in Cretaceous dolomites, but not tested Key…
Kurdistan Region of Iraq- High Impact campaign in progress Ensign rig at Shakrok Shakrok and Dinarta PSCs signed with KRG in July 2011 Hess Operator, 64%, Petroceltic 16%, KRG 20% (carried). Situated adjacent to existing…
Shakrok and Dinarta- Multiple targets, major upside Significant progress in Shakrok and Dinarta in 2012/13 2D seismic acquisition complete, field work, G&G Studies 5 large anticlines in a prolific petroleum province 100s MMbbls…
Regional Oil And Gas Infrastructure developing in Kurdistan Local pipeline infrastructure is Marathon success progressing: Aug 2013 Genels TaqTaq field to Khurmala recently completed Khurmala to Dohuk 300,000 bopd pipeline…
Romania exploration- Building on recent regional success Muridava (Ex27): Petroceltic 40%, Sterling 40%, Petromar 20% Legend Petroceltic Licensed Gas Field Oil Field Est Cobalcescu (Ex28): Petroceltic 40% Beach 30%, Petromar 30%…
Romania exploration- Muridava and Est Cobalcescu Limited 1980s 2D seismic data and one well drilled on the blocks (Olympiskaya discovery) New block-wide 3D seismic survey (1,930 km2) acquired in 2012 Two wells planned for 2013, both…
Egypt - 2013 awards increase core acreage by 300%* N Thekah Growing long term exploration position during period of low S Idku industry competition SE El Mansoura 3 recent awards in EGAS/EGPC licencing rounds* Cairo Onshore…
North Thekah - Proven Levantine Basin Play 100km offshore, between Nile Delta and Levantine Basin gas discoveries Area: 3,750km2 Edison 50% (Operator), Petroceltic 50% Commitment 1,500km2 3D Water depths: 400m-1,400m…
Italy exploration: Po Valley, Carpignano Sesia Thrusted structure identified to west of producing 250MMbbls Trecate / Villafortuna field and of similar scale Triassic fractured carbonate targets - P50 prospective resources 230…
Greece- Significant upside for modest initial commitment Petroceltic, Hellenic (operator) and Edison with 33% each 1,892km block, located in the Gulf of Patra in shallow water 100-300m Potentially oil prospective with identified…
Solid funding, valuable production, major development and high impact exploration Diverse portfolio, balanced between production, development and exploration Existing stable production generating strong operating cash flow High…
Experienced Board and management team Experienced Non- Executive Directors Hugh McCutcheon, Deputy Chairman Formerly Head of Corporate Finance at J&E Davy Robert Adair, Non-Executive Chairman Robert Arnott, Previous Chairman of…
2013 Interim Results Revenue of 104 million with working interest production of 24,500 Boepd, currently producing 26,000 Boepd 2013 Full Year production expected to be 24,500 25,500 Boepd Successful 500 million syndicated bank…
Income Statement for the period ended 30 June 2013 6 months ended 6 months ended 30 June 2013 30 June 2012 '000 '000 Revenue 103,668 291 EBIDAX 71,326 (2,774) Gross profit 44,416 90 Profit/(loss) from operating activities…
Balance Sheet at 30 June 2013 30 June 2013 31 December 2012 '000 '000 Fixed assets 693,744 684,101 Current assets 238,528 261,928 Total assets 932,272 946,029 Current liabilities 63,922 116,772 Non-current liabilities 357,352…
Financial Strategy Short and medium term production profile supports funding strategy Following 500 million re-finance in April Strong and supportive banking group led by HSBC and IFC Facility includes availability for initial…
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