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INVESTOR PRESENTATION – Serinus Energy Inc.

Serinus Energy Inc. · May 1, 2014 · 37 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 1
    Latest News Proven Performance with Room to Run May 2014
  2. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 2
    Corporate Overview Total Shares (Mar 31, 2014) 78,629,941 (fully diluted: 78,629,941 excluding out of money options) Long Term Debt (Mar 31, 2014) US10.6 million1 Working Capital Deficit (Mar 31, 2014) US17.4 million, including US4.6…
  3. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 3
    Diversified & Operated Portfolio Makeevskoye Olgovskoye Ukraine (gas) Krutogorovskoye Vergunskoye N. Makeevskoye Reserves1 9.1 MMboe and production2 3,504 boe/d (97% natural gas) with development, appraisal and UKRAINE…
  4. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 4
    Highlights Track record of success in Ukraine Over 6-fold increase in net production from 3.4 MMcfe/d in June 2010 to 21 MMcfe/d in during Q1 2014 Both Operational and Exploration Success 3-fold increase in 2P reserves in Ukraine…
  5. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 5
    Serinus Growth Profile Working Interest Reserves* Production actual forecast 44 7 000 40 36 6 000 32 1P CAGR: 49% 5 000 28 2P CAGR: 60% 77% CAGR (MMboe) 24 3P CAGR: 70% 4 000 (Boe/d) 20 3 000 16 12 2 000 8 1…
  6. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 6
    Ukraine Assets 7
  7. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 7
    Ukraine: Highlights Acquired 70% of KUB-Gas LLC1 in June 2010 5 operated licences in the prolific Dnieper Donets basin Excellent commodity prices and netbacks Operating Success Since June 2010 6-fold increase in production to 21…
  8. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 8
    Ukraine: Reserves1 and Netbacks 1P Reserves 2P Reserves 3P Reserves Total (Bcfe) 28.6 54.4 95.4 (MMboe) 4.8 9.1 15.9 NPV10 After Tax (MM) 111.2 198.6 320.4 Per Share (USD/sh) 1.41 2.53 4.08 Reserve Life Index (years) 3.7 7.1…
  9. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 9
    Ukraine: 2014 Capital Program NM-3 Visean Oil Gas Facility Expansion O-15 Serpukhovian Discovery July 2013 Gas Discovery - July 2013 Capacity increases from 30 MMcfe/d to 68 MMcfe/d with the new Makeevskoye facility, NM-3 providing…
  10. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 10
    Ukraine: Prospective Areas Room to Grow Contingent Resources: Makeevskoye 16.8 Olgovskoye 16.7 Krutogorovskoye 5.1 38.6 Bcfe NM-3 6.4 MMboe NM-4 O-24 Prospective Resources: Makeevskoye 55.3 O-15 Olgovskoye 16.9 O-11 North…
  11. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 11
    Ukraine: Growth & Forecast Production Actual Risked Forecast (+/- 10%) 30 MMcfe/d (SEN 70% WI) 25 Production Growth 67% CAGR 20 20% production growth over 15 YE 2013 10 First Year: Constructing Development Program 5…
  12. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 12
    Ukraine: Current Work Schedule 2014 2015 Well1 Target Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar M-17 S5, S6 , S7 Appraisal of M-16 O-11 R30C, S6 Development NM-4 M4 Channel Stratigraphic play M-22 S5, S6, S7…
  13. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 13
    Ukraine: A Great Investment Serinus purchased its 70% interest in KUBGAS Holdings for 45 million in June 2010 Gross capital investment has been 111 million. First 21 million funded by EBRD Gross Cash Flow Q3/10 Q1/14 Cash Flow…
  14. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 14
    Chouech Es Saida Tunisia Assets 15
  15. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 15
    Tunisia: Highlights Acquired Winstar Resources in June 2013 5 concessions throughout Tunisia1, all operated, 100% WI2 except for Sabria (45%) Production of 1,345 boe/d (Q1 2014) 2P and 3P reserves of 11.5 MMboe and 23.9 MMboe…
  16. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 16
    Tunisia: Where We Are Today Sabria (4 producing wells) Zinnia (shut in) Production1: nil Producing Zone: Campanian-Maastrichtian Abiod Carbonate 31o oil, no gas conservation Production1: 277 boe/d Discovered in 1989, first prodn in…
  17. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 17
    Tunisia: Reserves1 and Netbacks 1P Reserves 2P Reserves 3P Reserves Total (MMboe) 3.74 11.48 23.89 NPV10 After Tax (MM) 77.7 207.5 345.3 Per Share (USD/sh) 0.99 2.64 4.39 Reserve Life Index (years) 7.5 23.0 47.8 Future…
  18. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 18
    Tunisia: 2014 Capital Program Sabria 2 development wells targeting 3 MMbbl of 2 Development Wells, PUD and Probable reserves Facility Optimization Processing facility de-bottlenecking and optimization Chouech Es Saida/Ech…
  19. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 19
    Tunisia: Sabria History 347 MMbbl of OOIP 4.6 MMboe produced date (0.9% RF) 2P/3P reserves of 6.3/15.5 MMboe Legend New drills Re-entries Proposed drilling 20
  20. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 20
    Tunisia: Sabria Development Winstar-12bis: US14.4 million gross / US6.5 million net Roll over prospect Full Hamra and El Atchane penetration FNG-1 analog Targeting 1.98 MMbbl Probable reserves Winstar-13: US14.4 million…
  21. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 21
    Tunisia: Longer Term Potential More Room to Grow Sabria 2015 3D seismic Current 2P reserves of (4 current producing wells acquisition and 4 new wells) plus production to date implies overall recovery factor of 2.2% of 347 MMBbl of…
  22. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 22
    Tunisia: Current Work Schedule 2014 2015 Well * Target Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Winstar-12bis Hamra Winstar-13 Hamra Workovers Seismic Re-Processing 3D Seismic Development Drilling Workovers,…
  23. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 23
    Romania Exploration 24
  24. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 24
    Romania: Exploration Upside Satu Mare Permit Romania Licence History 2014 Work Program Highlights Farmed-in in 2008 Drilling of 2 exploration 765,000 acres onshore Romania wells at Moftinu on trend with discovered oil /…
  25. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 25
    Romania: Moftinu Pliocene Gas Play Moftinu 1000: Pliocene Channels Drilled in 2012 as a twin to an older well that had pay on logs Tested 1.3 MMcf/d from 2 sands outside the channel system Subsequent 3D seismic showed that…
  26. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 26
    Romania: Current Work Schedule 2014 2015 Well * Target Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Moftinu-1001 Pliocene Moftinu-1002bis Pliocene Moftinu-1002 (contingent) Pliocene 3D Seismic Development…
  27. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 27
    Why Serinus 28
  28. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 28
    Compelling Investment Opportunity Production in Ukraine & Tunisia Ukraine funded through internally generated cash E&D in multiple flows jurisdictions and operating Balanced Tunisia funded by internal environments cash flow and…
  29. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 29
    Fully Funded Active Work Program 2014 2015 Well * Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar M-17 O-11 NM-4 M-22 Ukraine M-15 M-18 Stimulations Facilities Workovers Sabria-12 Sabria-13…
  30. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 30
    Latest News www.serinusenergy.com 31
  31. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 31
    Appendix 32
  32. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 32
    Property Types, Terms and Conditions Property Working Interest VAT Liquids Royalty3 Gas Royalty3 Income Tax Ukraine 70% 20% in 2013 42% (net of VAT) 28% (net of VAT) 19% in 2013 (All Licences) 17% thereafter 18% thereafter…
  33. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 33
    Serinus Executives Tim Elliott - Director, President and CEO Mr. Elliott, a lawyer by profession, started his international oil and gas career with the Lundin Group from 1987 to 1999 and has more than 23 years of experience involving…
  34. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 34
    Serinus Directors Helmut Langanger (Vienna) Director, Chairman Tim Elliott (Dubai) - Director, President and CEO Norm Holton (Calgary) - Director, Vice Chairman Stephen Akerfeldt (Toronto) - Director Evgenij Iorich (Zug) -…
  35. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 35
    Analyst Coverage Canaccord Genuity Christopher Brown FirstEnergy Capital Stephane Foucaud Macquarie Capital David Popowich 36
  36. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 36
    Defined Terms Net operating cash flow: working interest share of oil and gas sales, less royalties and production expenses and in- country G&A, before corporate G&A expenses and income taxes Operating netback: net operating cash flow…
  37. INVESTOR PRESENTATION – Serinus Energy Inc. – slide 37
    Contact for Investors For further information, please refer to the Serinus Energy website www.serinusenergy.com or contact us directly: Mr. Norman W. Holton Mr. Gregory M. Chornoboy Mr. Jakub Korczak Vice Chairman Director Capital…

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