Annual General Meeting 27 September 2013 Joel Price, Head of Engineering Lewino-1G2 Frac Siciny-2 Yesiltepe-1, Turkey
Agenda What San Leon does Existing assets, focus on: Poland Morocco Activity over the last 12 months Monetisation Well activity Introducing Turkey Share Placing Summary 3
Contents What San Leon does Existing assets, focus on: Poland Morocco Activity over the last 12 months Monetisation Well activity Introducing Turkey Share Placing Summary 4
Company Overview AIM-listed independent Exploration and production company Gold Europe & North Africa / Med focussed Point Energy (2009) Emphasis on Poland and Morocco New Turkish assets Aurelian Island San Extensive and…
Activity Overview (12 months) Merger with Aurelian Oil & Gas (Jan 2013) Acquired cash, assets and staff Drilled or performed stimulation activity on 5 wells Five farm outs / sales Strategic partnerships, including…
Strategy Acreage in highly prospective regions Corporate acquisitions Acquire First mover advantage Significant acreage portfolio Leverage expertise and experience of team & partners Apply Constantly review and high-grade best…
San Leon Energy Plc Asset Overview Extensive Acreage Base San Leon Energy Alpay Enerji Includes acreage indirectly held through shareholding post Ireland deal 8
Contents What San Leon does Existing assets, focus on: Poland Morocco Activity over the last 12 months Monetisation Well activity Introducing Turkey Share Placing Summary 9
Poland - Diverse Portfolio Across Many Plays 42 Licences across 4.9 million Net Acres (6.8 million Gross) Baltic Basin Targets Paleozoic shale play 1. Baltic Basin Gas, condensate and oil Permian Basin Targets Unconventional…
Poland - Production Opportunities Silvia Prospect Lewino-1G2 Block 106 (50% Equity) Gdansk West (100% Equity) Target 5 MMbbl in Main Dolomite Vertical frac and test Q3/Q4 2013 First production 2014 Successful outcome can unlock c. 3,700m…
Poland Baltic Basin Gdansk West Pilot Development, 1 Tcf recoverable Current WI: 100% Area covered: 183 km2 (1 block only) Reserves targeted by pilot development: 1.3 Tcf gas and 40 MMbbl of condensate Gdansk West GIIP estimate:…
Poland Baltic Basin, Adding Value Sasol/Talisman 38,000/acre Huge Hugeupside upsidepotential in shale potential in shale 30,000 Petronas/Montney 6,000/acre Shell/Marcellus 4,700/acre valuations: valuations: Total/Utica 15,000/acre…
Poland 61 Tcf Net Recoverable Tight Gas & Shale Play Pioneering gas play in West Poland Carboniferous shales have sourced all Rotliegendes gas in Permian Siciny-2 suggests 200 Bcf/Section(1) Siciny-2 GIIP in Tight Sand May…
Poland Permian Basin, Main Dolomite Potentially Very Large Recoverable Tight Oil Play Oil in fractured Main Dolomite Tight Oil Play Main Dolomite Over 6,000 km2 of Main Dolomite platform and lagoon deposits within oil generating…
Poland - Permian Rotliegendes Rawicz Rawicz field discovered by POGC in 1970s. Never on production. DSTs in 1970s vertical wells show rates, 1 MMcfd San Leon Energy (Nowa Seis) shot 3D over area Poznan East & North excellent image…
Contents What San Leon does Existing assets, focus on: Poland Morocco Activity over the last 12 months Monetisation Well activity Introducing Turkey Share Placing Summary 17
Morocco Offshore 2 Billion bbls Oil + 1 Tcf Gas on Block De-risking through Farm-Outs Foum Draa Cairn Operated Farm-out to Cairn Energy - retain 14.17% 60MM well carry; 20MM Bank guarantee paid 1st Exploration well H2 2013(1) Sidi…
Morocco Onshore Tarfaya Conventional Oil, 40+ MMbbl Gross Recoverable Tarfaya 52.5% Interest, 7,723 km2 gross Tarfaya Conventional Large syn-rift structures (Triassic) Proven Tertiary play in southern part of licence Acquired 600…
Contents What San Leon does Existing assets, focus on: Poland Morocco Activity over the last 12 months Monetisation Well activity Introducing Turkey Share Placing Summary 22
Recent Monetisation Farm out part of Cybinka-Torzym block to Aspect Energy: Carry of San Leon Interest on 2 exploration wells The first well is estimated to be drilled in Q1 2014 Farm out Braniewo block to Wisent in exchange for :…
Recent Well Activity Lelechow-SL1: drilled in Main Dolomite Czaslaw-SL1:drilled in Main Dolomite, performed acid wash Siciny-2: DFITs in tight sand, under Halliburton MOU Lewino-1G2: recover 100% equity from Talisman, partner with…
Contents What San Leon does Existing assets, focus on: Poland Morocco Activity over the last 12 months Monetisation Well activity Introducing Turkey Share Placing Summary 25
Turkey Gulhanim-2 light oil CNG bottling plant, Hatay Gulhanim-2 gas test 26
Turkey: Attractive E&P Investment Environment Key facts on Turkish gas production and Favourable fiscal environment: consumption: 12.5% Royalty Under-explored proven hydrocarbon systems Extensive gas transmission network 20%…
Acquisition of Alpay Enerji A.S. (Turkey) SLE to acquire 75% of the share capital of Alpay for: Cash consideration of 4 million, and Free carry of SFA share (20%) of costs. Estimated Phase I gross costs of 18.5 million Resulting…
Alpay Enerji + ARAR Licences Alpay Blocks Source: Turkey Energy Ministry
Acquisition of Alpay Enerji A.S. (Turkey) Existing production expected to increase from 250 MCFD to 10 MMCFD by end Q1 2014 which could generate revenue of 3 million per month from only 5 wells on 3 of the 16 licences, with…
Value Drivers for San Leon Shareholders (1) PROVED Gross Proved Reserves (1P) 6.5 BCF(1) in Hatay Licence (4396) RESERVES on Hamam-Yesiltepe Structure Esmeli-1 well producing 60 BOPD (2P reserves estimated 8.0 MMBO - ARAR company…
Value Drivers for San Leon Shareholders (2) LOW Acquisition cost of 1.24 /BOE based on 2P reserve of 47 ACQUISITION BCF(1) for block 4396 alone COST CONVENTIONAL 16 licences targeting conventional oil & gas with significant ASSETS…
Value Drivers for San Leon Shareholders (3) THE RIGHT Walid Sinno (currently Morocco Country Manager) PERSONNEL - fluent in Turkish, previous extensive experience in-country Eric Beaumont (Drilling Manager) - managed Perencos Turkish…
Existing Reserves and Resources Exploration 973.1 Unrisked 629.6 539.6 444.8 Appraisal 374.6 Development 221.5 Risked 159.2 Hamam-1 Yesiltepe-1 46.6 34 Source: Senergy CPR dated July 2012
Phase I,Cumulative Estimated Phase II and Phase II ARAR Cumulative Production Production 13 2014 2015 2016 2017 2018 2019 2020 202 Phase I Phase II Phase II ARAR 35
Hamam-1 Workover Increase gas production by shutting off water Block: 4396 Well: Hamam-1 Status: CNG Production Tested: 4.5 - 6.8 MMCFD Production: 0.57 MMCFD on 01 Jan 2013 (constrained by CNG) Hamam-1 test 36
Hamam-1 Workover Straightforward, low-cost workover (500,000) to increase gas production by shutting off water Short lead time, typical of improvements required on existing wells SLE operational experience Existing production, to…
Turkey Summary 1P reserves of 6.5 BCF; 2P Reserves of 47 BCF; 2C resources of 141 Bcf Production increases from current level of 250 MCFD and 60 BOPD to 10 MMCFD and 100 BOPD by end Q1 2014 San Leon cash flow positive projected on a…
Contents What San Leon does Existing assets, focus on: Poland Morocco Activity over the last 12 months Monetisation Well activity Introducing Turkey Share Placing Summary 39
Share Placing GBP31,000,000 Two Tranche Placing GBP5,225,000 First Placing (admission of shares to AIM expected 30th September) GBP25,775,000 Second Placing (subject to approval at EGM on 18th October) Price 4.75 pence (13.6%…
Ownership (Prior To Placing), Share Performance 41
Near-Term Catalysts 1 Q4 2013/Q1 2014 Turkey workovers x 5 2 Q4 2013/Q1 2014 Turkey new drills x 3, pipeline 3 Q4 2013 - Halliburton: test and frac Siciny-2 well, Carboniferous Play 4 Q4 2013 - UOS: 2x frac then test Lewino-1G2, Gdansk…
Summary & Outlook Extensive portfolio of assets/acreage: both conventional & unconventional High-impact exploration, near term commercialisation, and Turkish production Highly-experienced team World-class technical partners:…
Questions 44
Key Information Directors Oisn Fanning Executive Chairman Ray King Paul Sullivan Director Managing Director Company Secretary Daniel Martin Piotr Rozwadowski Dr Jeremy Boak Non Executive Non Executive Non Executive…
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