Pareto Securities Annual Natural Resources Day Stockholm - May 21, 2014 A Lundin Group Company
Kurdistan Continuing Progress 2 Khurmala to Fishkabur pipeline commissioned. Kurdistan oil exports projected to reach 400,000 BOPD by end 2014. Kurdistan Current reports indicate that exports of 100,000 BOPD recommenced…
Atrush Block - History of a World Class Oil Discovery 3 Atrush-1: April 2011 Jurassic oil discovery. Atrush-2: 2012 appraisal well extends oil column to deeper Jurassic formations and confirms excellent reservoir properties…
Atrush Block - Part of an Accelerated Regional Development 4 FDP( Phase 1) approved in Sep 2013. Execution underway. Contracts for the Atrush field development (Chiya Khere production facilities modules and civil engineering…
Atrush--4: Well Summary Atrush 5 2nd Phase 1 Atrush Development well for the Chiya Khere facilities* at initial 4km2/well spacing. Spud October 20, 2013 - Drilling operations: 111 days; Testing operations: 44 days. TD of 2916m…
Atrush--4: Well Test Summary & Update Atrush 6 Well was flowed at various limited rates for short periods using ESP following a specific data gathering program for the purposes of obtaining maximum quality surface samples (for crude…
Overall FDP Philosophy 7 Atrush field development will be implemented using a phased, modular, expandable and value accretive process (Chiya Khere facilities*). Development initiated on the West/Central portion of the block…
Atrush Block Phase 1 Development Summary 8 Modular concept, with provision included to expand and replicate. Capable of handling oil rates of 30,000 bopd, initially. Maximize gas utilization in initial facility. Minimize sour gas…
Atrush Development - Phase 1a Chiya Khere Facility 9 FEED study Completed ITT issued & evaluated Modules/Civils contracts awarded Completion & testing of 2nd producer (AT-4). Drill 3rd & 4th producers. Completion of civil…
Indicative 2014/2015 Atrush Block Well Program (1) 10 Rig program has been optimized to minimise rig moves and avoid simops during the production phase, thereby reducing operational time and cost. The revision also brings forward…
Indicative 2014/2015 Atrush Block Well Program (2) 11 Revised drilling schedule (plans to bring a new rig subject to contract): CK-6 (Phase 2 appraisal): To be drilled SE from the AT-3 pad following mobilisation of replacement…
Atrush Block YE 2013 PIIP 12 PIIP (MMB Crude Oil)* P90 P50 P10 YE 2012 1843 2686 3999 YE 2013 2469 3016 3796 YOY Change +34% +30% -5% *YE2013 McDaniel & Associates, in accordance with standards set out in the Canadian…
Atrush Block Reserves & Resource Summary 13 ShaMaran has completed the 3D seismic interpretation showing the potential upside: Gross Reserves* (MMBOE) 1P 2P 3P Chiya Khere Footwall: Cretaceous, Jurassic & Triassic YE 2013 (Phase…
Corporate Financial Position 14 Cash Position* Mar 31, 2014: 122 MM Forecasted Expenditure Apr-Dec 2014: Atrush CAPEX Budget** 65 MM Debt Service / Other Costs 22 MM Total: 87 MM *Includes 34.5mm of cash restricted for…
The Lundin Group 15 Combined Market Cap 13.3 Billion A Lundin Group Company
Corporate Profile 16 SNM Share PRICE : TSX.V Symbol TSX V & NASDAQ OMX First North: SNM Share Capital Issued and outstanding: 810,983,860 shares Fully diluted 819,247,194 shares Market Capitalisation ( 12th May 2014) CDN…
Technical Appendices & References A Lundin Group Company
2014 Changes in Atrush Block Nomenclature 18 The Atrush Management Committee and MNR confirmed the following changes to terminology used with respect to activity on the Atrush Block, effective from 2014: Atrush Block, Atrush PSC &…
Atrush Block Historic Wells Summary 19 AT-1: Discovery well with indicative large volumes but large volumetric uncertainty. 510m gross oil column in well with nearly 400m of uncertainty on Free Water Level (FWL). Test rates…
Atrush Discovery Reservoir Description 20 Barsarin A single reservoir comprised of stacked formations of Jurassic Naokelekan age: (Barsarin, Naokelekan, Upper & Lower Sargelu, Alan & Mus)*. Upper Sargelu Massive &…
Chiya Khere Structure Nearby Analogues 22 Seismic cross-sections through Sheikh Adi (above) & Bakrman (below) Hanging wall / Footwall configuration at Sheikh Adi Sheikh Adi is situated on trend to and just west of the Chiya…
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