Annual and Special General Meeting Calgary, Alberta June 4, 2014
From exploration to development Growing production Maximizing value creation 2
To World Oil Market WesternZagros Assets
4
Strengthening Economic Ties Kurdish Minister of Natural Resources Ashti Hawrami (L), Turkish Energy Minister Taner Yildiz (C) and Kurdish Prime Minister Nechirvan Barzani (R) 5
Converting Discoveries into Light Oil Production Kurdamir and Garmian Production Potential: Contingent resources support ultimate production project Kurdamir: (2C) 125,000 150,000 bbl/d of oil Garmian: (2C + 2P) 30,000 50,000…
Two Anchor Assets in a Very Active Area 7
Two Anchor Assets in a Very Active Area 8
Size of the Prize Kurdamir 976 million BOE of contingent resources 1,616 million BOE of prospective resources Garmian 31 million BOE of contingent resources 584 million BOE of prospective resources 9
Our Team 10
Experienced, Committed and Innovative 11
Phased Development 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 domestic or export markets Phase 2 Phase 3…
Hasira-1 Hasira-1 Rig Site 13
Garmian Field Conceptual Development 14
Sarqala 3D Seismic Predicts Reservoir Fractures Top Jeribe Dip of Maximum Similarity S-2 Contours Top Jeribe Depth (20mSS C.I.) S-1RE Stronger Discontinuity H-1 1 km Red polygon = Jeribe anomalies White polygons =…
Top Jeribe 3D View Sarqala Sarqala-2 Sarqala-1 Hasira-1 N Shallow Deep 1 km 16
Advancing Development Sarqala facilities: loading gantry Sarqala facilities: new tank storage fabrication Sarqala facilities: new separator Sarqala-1 workover rig 17
Increasing Production Capability Sarqala-1 Workover Rig 18
Kurdamir Field Conceptual Development 19
Kurdamir Oligocene Discovery 20
Kurdamir Significant Upside Value 21
Kurdamir 3D Seismic Predicts Reservoir Porosity 3 km M-1 K-2 K-1 K-3 B-1 22
Kurdamir 3D Seismic Predicts Reservoir Fractures 3 km M-1 K-2 K-1 K-3 B-1 Average seismic amplitude from Top Oligocene Porosity into Base Oligocene 23