Corporate Presentation 1 January 2015 www.sterlingenergyplc.com
Overview Targeting High Impact Exploration Africa focused portfolio Significant exploration assets Odewayne (Somaliland) Ntem (Cameroon) Ampasindava & Ambilobe (Madagascar) Strong balance sheet 3 Cash of 107m, debt free…
Board of Directors - Track Record of Managing Value Creation Executive Directors Non-executive Directors Alastair Beardsall Keith Henry Executive Chairman and Interim CEO Chairman of Regal Petroleum and Greenko Group, and a…
Capital Structure Sterling Energy PLC - listed on AIM 2002 Significant Shareholders Shares in issue 220.1 million Waterford 29.9% LTIP (exercise 40p/43p) 12.7 million Soyuzneftegas Capital Limited 15.2% FULLY DILUTED 232.8 million…
Cameroon, West Africa - Country Overview Oil & Gas * - Oil production 63,000 bopd - Proved oil reserves 200 million barrels - Proved gas reserves 5 trillion cubic feet Government - Independence in 1960 - Multi-party presidential…
Cameroon - Ntem Block Sterling Energy 50% non-operated interest Murphy Oil 50% interest and operator Experienced in deep water drilling operations Ntem - deep water exploration play 3D seismic over 2/3rd of the block Water…
Cameroon Bamboo-1 result Bamboo -1 results Targeted stratigraphically trapped Upper Cretaceous submarine fans All targets were found to be well developed high porosity sandstones No significant hydrocarbon shows were recorded W E…
Cameroon - Exploration Setting Ebome Fields Perenco operated production, principally Block I, O and Yo-Yo from Lower Cretaceous. Miocene discoveries made by KH field is nearest Upper Noble Energy Cretaceous discovery to Ntem…
Cameroon & Equatorial Guinea Maritime Border Maritime Border Claim Equatorial Guinea made claims over Cameroons maritime territory; The western and southern boundaries of the Ntem concession potentially affected. Declaration of…
Somaliland (East Africa) Country Overview Oil & Gas Very little exploration to date No production Government Somaliland was a protectorate of the UK until 1960 Declared independence from Somalia in 1991; allowed development of…
Somaliland - Odewayne Basin Overview 12 Odewayne block is 22,840 km2 , equivalent to +/- 100 UKCS Blocks No seismic control and no drilling to date Basin interpreted to be deep enough for Jurassic source rocks to be mature…
Somaliland Odewayne Block Play Elements Working petroleum system with multiple shows and oil seeps Excellent quality Jurassic source rock seen in outcrop Jurassic and Tertiary clastic reservoirs seen at outcrop Potential for…
Somaliland - Odewayne Block Partners Genel (50% and operator) Sterling (40%) Petrosoma (10%) Licence Terms and Commitments Sterling carried by Genel for all costs in Periods 3 & 4 Period 3: May 2012 Nov 2016 Acquire airborne…
Madagascar Country Overview Economy GDP (2012): 10.1 billion (451 per capita) Agriculture 29% Industry 16% Government Elections held in Dec 2013 Hery Rajaonarimampianina was elected President for a 5 year term 15 Oil & Gas…
Madagascar Regional Potential Exploration of East African conjugate margins focused on Jurassic petroleum system Jurassic identified as major source rock Gas discoveries in Tertiary submarine fan and channel sandstone reservoirs…
Madagascar Ampasindava Sterling 30%, Exxon 70% and operator Sterling carried by Exxon for US30m future gross costs Large offshore block Area 7,379 km2, water depth 200-2000m 3,000 km 2D seismic acquired and interpreted Additional…
Madagascar Ambilobe Sterling 50% (operator), Pura Vida 50% Sterling carried by Pura Vida through 3D seismic programme, with gross costs capped at 15 million Large under explored offshore block Area 17,650 km2, water depths 0…
Other Assets - Mauritania Chinguetti Field 8% financial interest via funding agreement Current gross field production of 6,000 bopd Remaining field life 3 years Sterling net financial interest in H1 2014 Production averaged 436…
Anticipated Activity Schedule Note: Company estimates 2015 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cameroon Ntem Somaliland 20 Odewayne 2D well Madagascar Ampasindava well Ambilobe 3D Seismic Well Other…
New Ventures Previous projects Sangaw North 1 (Kurdistan) drilled and tested a potential resource of 804mmboe (gross) at 18m cost to Sterling. Bamboo 1 (Ntem, Cameroon) drilled and tested a potential resource of 450mmboe (gross)…
Summary of Q3 2014 Q3 2014 H1 2014 FY 2013 Production 463 bopd 436 bopd 527 bopd Average realised oil price 97.5 /bbl 103.9 /bbl 101.1 /bbl Revenue 4.2 million 9.1 million 18.4 million EBITDA 22 1.2 million 4.7 million 9.1…
Summary Focusing on high upside exploration programme Ntem (Cameroon) forward plans under review Odewayne (Somaliland) - 2D seismic in Frontier Exploration Production Interest 2015/16 (carried by Genel) Ampasindava (Madagascar)…
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