PETRONEFT RESOURCES PLC Annual General Meeting, 29 August 2014
COMPANY OVERVIEW Overview Work Programme Production Exploration Established in 2005 to Drilling recommenced in Current production Strong Reserve Base with build a diversified E&P late August 2,000 bopd material P3/P4 to 2P business…
TOMSK OBLAST PetroNeft Licence 61 Acquired State Auction 2004 50% ownership/operator 4,991 sq km PetroNeft Licence 67 Acquired State Auction 2010 50% ownership/operator 2,447 sq km PetroNeft Rosneft Tomskneft Gazprom…
LICENCE 61 Farmout of 50% to Oil Limited Limited
MAJOR COMMITTED WORK PROGRAMME The Licence 61 Farmout Total investment by Oil India of up to US 85 million US 35 million upfront cash payment received US 45 million of exploration and development expenditure on Licence 61. Supports…
THE OIL INDIA FARMOUT PROCESS Management Sign binding NDA signed MOU signed Closing presentation contracts (Nov. 2012) (Dec. 2013) (3 July 2014) (June 2013) (17 Apr. 2014) Data Room Negotiations Field Visit Conditions Clear all…
DEVELOPMENT SCHEDULE FORECAST Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16 Dec-16 Jul-17 Jan-18 Tungolskoye No. 5 Mob & Rig-up Drilling Drilling + Testing T-5 well Exp 1 rig Vertical pilot followed by 300m horizontal Testing…
LICENCE 61
LICENCE 61 NORTHERN INFRASTRUCTURE E-303 Emtorskaya High L-5 NV-1 212 L-3 L-7 211 L-10 L-8 L-9 Lineynoye Oil Field NV-2 Arbuzovskoye Oil L-1 Field Lineynoye Central Processing Facility L-6 L-4 A-1 Design Capacity -…
ALL MAJOR INFRASTRUCTURE IN PLACE 10
LINEYNOYE CENTRAL PROCESSING FACILITY 11
ARBUZOVSKOYE PAD 1 Typical Production Drilling Rig URALMASH 3000 EUK cluster drilling rig 12
ARBUZOVSKOYE PAD 1 THE KIT Test Separator W.Inj. Manifold Transformers Drilling Camp Living Quarters & Canteen Well Test Water Separator Injection Manifold 13
ARBUZOVSKOYE PROPOSED DRILLING SEQUENCE Arbuzovkoye Pad 1 - Drilling Sequence Base Bazhenov Map contour interval 10 m Initial 6 wells on Pad 1 (shown in red) were located to better define the stratigraphy and structure of the field B…
TUNGOLSKOYE NO. 5 Typical Exploration Drilling Rig URALMASH BU 3D 76 15
TUNGOLSKOYE DEVELOPMENT 2012/2013 programme: T -2 TGK re-processing and re-evaluation of well and seismic data Significant portion of structure updip from T-1 and T-4 wells which had over 10 m net pay Tungolskoye No. 5 2014…
TUNGOLSKOYE NO. 5 DELINEATION WELL North Line 90.07.13 South Projected T-2 Tungolskoye T-1 No. 5 TWT mSec 2 km Base Bazhenov 1900 owc -2,527 m tvd Tungolskoye No. 5 Delineation Well Objectives 2000 Drill well near crest of…
TUNGOLSKOYE POTENTIAL DEVELOPMENT OPTION Risk Mitigation Tungolskoye Development Well Types Net Pay for Pad 1 Tungolskoye 7 Confirm structure Horizontal wells (6 + T-5) and reservoir Development 12.0 with Well Types T-5 meters…
SIBKRAYEVSKOYE OIL FIELD OVERVIEW 50 million bbls plus expected on-stream 2016 Three wells were drilled to date: S-371 Well 372 (2011) twinned well 370 was Sibkrayevskoye drilled by PetroNeft Well confirms 12.3 m of missed pay Proposed…
SIBKRAYEVSKOYE NO. 373 DELINEATION WELL Seismic Line 06-05 Sibkrayevskoye is very large high amplitude structure Sibkrayevskoye Sibkrayevskoye 5 km No 373 No 371 SW Line 06-05 Line 90-14 NE Cretaceous Seismic Horizon 1600…
EMTORSKAYA HIGH 0 1 2 3 4 5 6 km Emtorskaya 304 - Proposed Crestal high -2,315 m J11 Base Bazhenov Horizon Structure Map 65 m high to Lineynoye Crest contour interval 10 m E-304 Emtorskaya 300 - Reinterpretation E-300 J11 1.0 m…
EMTORSKAYA HIGH South Lineynoye Oil Field Emtorskaya High North L-6 211 212 E-303 Proposed E-304 Base Bazhenov Seismic Horizon Log reevaluation Two Way Time in Milliseconds J11 Spill Point confirms missed pay -2,422 m tvd…
LICENCE 61 NORTHERN DEVELOPMENTS Structure Map on Base Bazhenov Horizon S-371 0 2 4 6 8 10 12km Sibkrayevskoye Sibkrayevskoye New Oil Field Discovery 1972 well showed by-passed pay contour interval 10 m New well exceeded pre-drill…
NORTHERN AREA - PROPOSED SEISMIC North Emtorskaya Sibkrayevskoye Oil Field Emtorskaya High North Varyakhskoye South Oil Field Sibkrayevskaya West Lineynoye Oil Field Lineynoye Oil Field Arbuzovskoye Oil Field…
LICENCE 67
LICENCE 67 (LEDOVY) MOL Group Licence 55 Recent discovery on Verkhne- Laryegan structure located just east of North Ledovoye field Ledovy Block Structures and Traps 6 extends into Licence 67 2 Oil Fields and Oil Tests 15 7…
LICENCE 67 - 3D SEISMIC 2014 Major Activities 2014 Base Bazhenov Horizon Ledovoye 3D Seismic 61.68 sq km Cheremshanskoye 3D Seismic 95.16 sq km Ledovoye Acquisition primarily Q1 2014 PITC Geofizika Processing and Interpretation…
INVESTMENT HIGHLIGHTS 28
INVESTMENT HIGHLIGHTS Summary Experienced and motivated management with strong local relationships Strong Reserve Growth; very significant reserve additions from exploration to date particularly Sibkrayevskoye, more prospects still…
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