Corporate Presentation April 2014 Converting Discoveries into Light Oil Production TSX.V: WZR www.westernzagros.com
1. Key Investment Highlights Kurdamir Gross unrisked mean contingent resources of 976 MMBOE, 58% oil (38 to 40 degree API), low sulphur, low H2S Large, strategically Resources defined by 3D seismic and 3 wells drilled and tested…
Corporate Profile: Kurdistan Focused Independent Pure Play 2 PSCs in the Kurdistan Region of Iraq (1) Ticker TSX-V : WZR (2) Basic (Fully Diluted) Shares Outstanding 475 million (570.3 million) (3) Director & Officer Ownership…
WesternZagros: Pure Play Kurdistan Independent Two significant oil and gas development areas: Kurdamir (giant oil field) and Garmian (large oil field) On trend with the super giant Kirkuk oilfield 4
Our Assets: Large Oil Discoveries Kurdamir Garmian 40% 40% 40% 40% 20% 20% Mean Contingent Resources 976 MMBOE 58% oil (gros s ) 31 MMBOE, 77 % oil (gros s ) Mean Prospective Resources 1,616 MMBOE, 82% oil (gros s ) 584…
Kurdistan Oil Infrastructure: Crude Oil Monetization Imminent New Kurdistan-Turkey Pipeline KRG anticipates first sale of crude oil export to Turkey in H1 2014 Kurdistan-Turkey Pipeline spec: 30 to 32 API Lighter southern Kurdistan…
Kurdistan Gas Infrastructure: Growing Interest Development of export gas market KRG / Turkey Energy Agreement March 2013 for 10 bcma gas exports to Turkey Development of domestic gas market Sales of gas from Summail Field…
Southern Kurdistan Critical to the Kurdistan Export Blend 2014 API Operator Production Gravity Est.* Northern Kurdistan Tawke DNO 26 100,000 Shaikan Gulf Keystone** 17 40,000 Khurmala KAR 33 200,000 Other Various 23-44 98,000…
Attractive Fiscal Terms Summary of PSC Terms Profit Oil Allocation and Capacity Building Payments 40% Total Oil Produced Pre-Iraqi Constitution PSC 100bbl s 35% Capacity building payment (%) Royalty Oil 30% 10% of total crude…
WesternZagros Undervalued Compared To Peers (1) Note : (1) 2P for DNO, Gulf Keystone and Genel, 2C for WesternZagros, and ShaMaran. Sources: Brokers, Factset (as of March 21, 2014). 10
Large Discoveries: Anchors for South Kurdistan Development Kurdamir Contingent resources support ultimate production project of 125,000 to 150,000 bbl/d of oil Future gas production provides additional upside value as Kurdistan gas…
Phased Development: Provide Cashflow & Manage Capital Exposure Phase 1 Phase 4 Early Well Test rental Pursue enhanced spreads oil recovery Production capacity utilizing water or up to 10,000 bbl/d gas re-injection Trucking to…
Sarqala-1: Existing Production Capabilities Sarqala Discovery declaration of commerciality Well Head: Sarqala-1 approved in December 2013 Production capacity at 5,000 bbl/d with workover commenced to increase capacity up to 10,000…
Garmian Field Conceptual Development Declaration of Commerciality approved effective * December 2013 Development plan to be submitted by end Q2 2014 Phase 1 production capability to 10,000 bbl/d Phase 2 contemplating 35,000…
Hasira-1 Well: Jeribe and Oligocene Hasira-1 Well Exploration well targeting the Mio-Oligocene Secondary objective of appraising the Jeribe-Dhiban reservoir. Oil confirmed in the Jeribe-Dhiban Potential to complete the well in…
Kurdamir: Giant Light Oil Discovery 976 million BOE contingent resources: Oligocene and Eocene Kurdamir-2 Oligocene tested rates of 3,450 bbl/d of 38 degree API oil and 8.8 million cubic feet of gas/day 1 Kurdamir-3 Oligocene DST…
Kurdamir Oligocene Discovery Full Oligocene interval in K-3 interpreted to be oil bearing Audited estimates of Contingent Resources limited by water produced in K-3 DST2 Base Contingent Resources down to at least -2049mSS (range…
Kurdamir: Field Conceptual Development Declaration of commerciality planned within next 12 months Current contingent resources1 should ultimately support field production of 125,000 to 150,000 bbl/d Horizontal wells to…
2014 Capital Spending Program (US millions) Working Capital Position (as at December 31, 2013) Cash and Short Term Investments 153.4 Non-Cash Working Capital (including trade and other payables) (56.2) Working Capital 97.2 2014 Capital…
Corporate Social Responsibility: Making a Difference Corporate Social Responsibility Investment Priorities Engaging key stakeholders where we operate Consulting with communities Working with NGOs and KRG institutions Establishing…
Towards the Future..Converting Discoveries into Light Oil Production Kurdistan oil exports to Turkey anticipated to be imminent Development plans advancing to monetize 1 billion BOE of discovered contingent resources Production and…
Appendix 22
Kurdamir and Garmian: Contingent and Prospective Resources Mean Oil Only (MMbbl, Gross) Mean Oil and Gas (MMBOE, Gross) Contingent Resources Kurdamir Block Kurdamir 541 976 Garmian Block - Sarqala 24 31 Total Unrisked Contingent…
Kurdamir Contingent Resources Low Best High Mean Estimate(6) Estimate(7) Estimate(8) Estimate(9) Discovery Reservoir Hydrocarbon P90 (1C) P50 (2C) P10 (3C) Mean Type MMbbl/Bcf MMbbl/Bcf MMbbl/Bcf MMbbl/Bcf Tertiary Table 1(a)…
Kurdamir: Prospective Resources Low Best High Mean Estimate(6) Estimate(7) Estimate(8) Estimate(9) Discovery Reservoir Hydrocarbon P90 P50 P10 Mean Type MMbbl/Bcf MMbbl/Bcf MMbbl/Bcf MMbbl/Bcf Tertiary Table 1(b) Kurdamir…
Garmian: Contingent and Prospective Resources Low Best High Mean Estimate(6) Estimate(7) Estimate(8) Estimate(9) Table 2(a) Discovery Reservoir Hydrocarbon P90 P50 P10 Mean Gross Unrisked Contingent Type MMbbl/Bcf MMbbl/Bcf MMbbl/Bcf…
Garmian: Prospective Resources Low Best High Mean Estimate(6) Estimate(7) Estimate(8) Estimate(9) Discovery Reservoir Hydrocarbon P90 P50 P10 Mean Type MMbbl/Bcf MMbbl/Bcf MMbbl/Bcf MMbbl/Bcf Sarqala(5) Jeribe / Oil 31 136 429…
Kurdamir and Garmian: Resource Table Notes Notes to Tables 1(a), (b), and 2 (a), (b), (c): 1) The resources presented are the gross volumes estimated for the indicated reservoirs without any adjustments for the Companys working…
Prospective Acreage: Close to Fully Contracted Bl ock Opera tor A Ga rmi a n Wes ternZa gros B Kurda mi r Ta l i s ma n C Ai n Si fni / K8 Hunt D Akre-Bi jeel MOL / Ka l egra n E A l Qush/B aeshiqa/P irmam/B etwata/Qara-Hanjeer/ 6…
Experienced Management Team with Proven Geological, Operational and Commercial Capabilities Executive Team and Senior Management Board Yrs Exp Yrs Exp Simon Hatfield CEO; Director 35+ Fred Dyment Chairman 35+ Western Oil Sands,…
Key Historical Milestones Achieved production over 5,000 bbl/d from Sarqala-1 EWT EPSA signed with Kurdamir-1 well 40% WI of Garmian KRG drilled assigned to Gazprom Neft, WZR remains operator 2006 2008 2009 2011 2012 2013…
Evolving Political Environment, Increasing Investment Hawler Energy Komet 2005 2006 2007 2008 2009 2010 2011 2012 2013 1 2 3 4 5 6 7 8 9 10 11 12 13 8 April & August 2012 1 October 2005 KRG cease oil exports April 1 due to a…
Caution to the Reader, (Contd.) Presentation of Resource Information Terms related to resource classifications referred to herein are based on the definitions and guidelines in the Canadian Oil and Gas Evaluation Handbook which are as…
www.westernzagros.com Head Office Hasira-1 Well Aug 2013 600, 440 2nd Avenue S.W. Calgary, Alberta, Canada T2P 5E9 Tel: 1-403-693-7017 Fax: 1-403-233-0174 email : investorrelationswesternzagros.com
Loading...
