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Corporate Update – Tethys Petroleum Ltd.

Tethys Petroleum Ltd. · Mar 1, 2015 · 38 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. Corporate Update – Tethys Petroleum Ltd. – slide 1
    CORPORATE UPDATE March 2015
  2. Corporate Update – Tethys Petroleum Ltd. – slide 2
    Contents Tethys Petroleum Overview Vision, Strategy, Investment, Achievement & Value Reserves, Production & Resources All time high & organic growth Tethys Kazakhstan HanHong Farm Out Transformational Deal Gas Growth Story Akkulka &…
  3. Corporate Update – Tethys Petroleum Ltd. – slide 3
    Tethys Petroleum Overview 3
  4. Corporate Update – Tethys Petroleum Ltd. – slide 4
    Tethys Vision and Strategy Tethys Petroleum's Vision is to become the leading Independent E&P Company in Central Asia, by exercising capital discipline, by generating cash flow from existing discoveries and by maturing large…
  5. Corporate Update – Tethys Petroleum Ltd. – slide 5
    Investment case New Board with focus on a performance-based culture and shareholder value Current production capacity 5,000 boepd, (60% gas, 40% oil) with funded plans to grow this in 2015. 2P reserves of 27.08 MM boe, recoverable…
  6. Corporate Update – Tethys Petroleum Ltd. – slide 6
    New Team First 100 days. Corporate Corporate G&A* forecast Re-balance of Board/ Executive Chairman reduction to 10.5 G&A and BD forecast reduction to 10.5 MM (from 20.6 MM) by end 2015* 6 MM loan completed Head count reduction of…
  7. Corporate Update – Tethys Petroleum Ltd. – slide 7
    Tethys G&A* 2014 Estimated 2015 Target* 20.6 Total MM Total 10.5 MM (annualised basis) *Inc. BD. Based on annualized basis. See Forward Looking Statements. 7
  8. Corporate Update – Tethys Petroleum Ltd. – slide 8
    TPL Share Price (Net Asset Value) 0.60 TPL: Net Asset Value 0.50 0.40 GBP/Share 0.30 0.20 0.40 Current TPL Share Price 0.10 0.00 Cash End Jan MV Kazakhstan MV Tajikistan Georgia MV Rigs less: loans & less: G&A Total…
  9. Corporate Update – Tethys Petroleum Ltd. – slide 9
    Tethys Assets/Strategic Partnerships Kazakhstan Oil and Gas Production Sale of 50% to SinoHan (HanHong SPV - Beijing private equity) for 75 MM Completion subject to receipt of final government consents 27.08 MM BOE 2P Reserves*, 1.3…
  10. Corporate Update – Tethys Petroleum Ltd. – slide 10
    Gross Reserves at December 31st 2014 (NI 51-101) Reserves Oil & Gas (Bcf) BOE BOE NPV 10% Category Condensate (MMboe) After Tax (MMbbl) (MM) Total Proved 6.56 60.36 16.62 108.32 Total Proved + 12.36 88.29 27.08 185.86…
  11. Corporate Update – Tethys Petroleum Ltd. – slide 11
    Gross Production & Reserves TPL Gross Production & NI 51-101 Reserves - Kazakhstan Business Unit - MM boe 1P Proved reserves up 50 17% 16.62 MM boe Possible Highest 1P volume in Tethys history. 40 Probable Proven 40% of…
  12. Corporate Update – Tethys Petroleum Ltd. – slide 12
    Resources Unrisked Mean Oil & Gas (Bcf) BOE (MMboe) Prospective Condensate Recoverable (MMbbl) Resources Kazakhstan 1,230 634 1,336 (as of April 2012 pre SinoHan transaction) Tajikistan 2,411 32,272 7,790 (as of June 2012)…
  13. Corporate Update – Tethys Petroleum Ltd. – slide 13
    Kazakhstan 13
  14. Corporate Update – Tethys Petroleum Ltd. – slide 14
    Kazakhstan North Ustyurt Assets BOZOI-BEYNEU-SHYMKENT PIPELINE TOWARDS CHINA* *Dotted line indicates pipeline under construction 14
  15. Corporate Update – Tethys Petroleum Ltd. – slide 15
    Han Hong Farm-out Transformational Deal Closure key priority of new management team Base Consideration Key Terms TPL currently 100% owners US75 MM for 50% to SinoHan First US9million Work Program (WP) carry for TPL 75 MM SinoHan…
  16. Corporate Update – Tethys Petroleum Ltd. – slide 16
    Gas Growth Story - Development Kyzyloi and Akkulka gas fields Phase 1 Q4 2014 260 mcm/day Phase 2 delivered Q1 2015 520 mcm/day (18.3 mmcf/day, 3,060 boe/day) Completed pipeline and dehydrator infrastructure on time with zero…
  17. Corporate Update – Tethys Petroleum Ltd. – slide 17
    The Gas Growth Story - Kyzyloi Kyzyloi Gas Field Contract recently extended to 31st December 2029 KYZ110, KYZ112 production wells planned Prospect E nearby Kyz-112 Bright spots on seismic (2D) High chance of success forecasted…
  18. Corporate Update – Tethys Petroleum Ltd. – slide 18
    The Gas Growth Story - Akkulka Exp = Exploration prospects (most potential identified) Field = Development fields (drill ready) 18
  19. Corporate Update – Tethys Petroleum Ltd. – slide 19
    The Gas Growth Story Track record of exploration success Akkulka Gas Very good exploration track record 15 out of 20 successes, the last 13 consecutively Circa 20 new prospects & leads identified 4 drill ready in Akkulka field…
  20. Corporate Update – Tethys Petroleum Ltd. – slide 20
    Oil Production Oil production Doris oil field Exploration success, first commercial oil discovery in area Cretaceous Sandstone and Jurassic Carbonate Doris sand at around 2,200 metres Current production capability 2,000 bopd Light…
  21. Corporate Update – Tethys Petroleum Ltd. – slide 21
    Akkulka / Kul-Bas Area Deeper Oil and Gas Exploration 21
  22. Corporate Update – Tethys Petroleum Ltd. – slide 22
    Klymene Prospect Planned drilling 2015 Gross Unrisked Mean Prospective Resources (Gustavson) 422 Up to 422 MM barrels oil (106 MM barrels risked)* Up to MM Defined on newly shot seismic Barrels Good four way dip closure oil Upper…
  23. Corporate Update – Tethys Petroleum Ltd. – slide 23
    Tajikistan 23
  24. Corporate Update – Tethys Petroleum Ltd. – slide 24
    Amu Darya World Class Basin S YOLOTAN 21.2 Tcm (749 Tcf)* YASHLAR 5.5 Tcm (176 Tcf)* DAULETABAD 1.7 Tcm (60 Tcf) All figures depicted in the map above are the resource estimate sourced from Gaffney, Cline and Associates…
  25. Corporate Update – Tethys Petroleum Ltd. – slide 25
    Tajikistan: the Jewel in the Tethys Crown Early mover advantage Tethys entered Tajikistan in 2007 Acquired large acreage Bokhtar PSC, approximately 36,000 km2 (8.9 million acres) 25 year initial term Exceptional commercial terms…
  26. Corporate Update – Tethys Petroleum Ltd. – slide 26
    Tajik Exploration Exceptional Resource Base Gross 27.5 billion barrels oil equivalent1 comprising 113.9 tcf1 (3.22 tcm) of natural gas 8.51 billion barrels of oil/condensate Gross mean unrisked prospective resources greater than the…
  27. Corporate Update – Tethys Petroleum Ltd. – slide 27
    Bokhtar PSC Partnership Partners with Total and CNPC - Joint Operating Company (BOC) 2013 Farm in to Tethys project TPL, Total 33%, CNPC 33% Tethys net 28.33%, local partners 5% Excellent working relationship Each partner provides…
  28. Corporate Update – Tethys Petroleum Ltd. – slide 28
    Georgia Projects in Kura Basin Partners with Georgian Oil and Gas (GOG) Tethys 49%, GOG 51% Block XIA, Block XIM, Block XIN Good potential acreage with both conventional and unconventional plays 1.6 Billion boe net unrisked mean…
  29. Corporate Update – Tethys Petroleum Ltd. – slide 29
    Investment case New Board with focus on a performance-based culture and shareholder value Current production capacity 5,000 boepd, (60% gas, 40% oil) with funded plans to grow this in 2015. 2P reserves of 27.08 MM boe, recoverable…
  30. Corporate Update – Tethys Petroleum Ltd. – slide 30
    2015 Work Programme Capex Minimum Infrastructure & Total Requirements Exploration Development Other Kazakhstan Capex * 41.9 5 21.3 4.4 11.2 Tajikistan Capex** 15 15 Georgia Capex** 0.9 0.9 TOTAL 2015 Capex 57.8 5.9 36.3…
  31. Corporate Update – Tethys Petroleum Ltd. – slide 31
    APPENDIX 33
  32. Corporate Update – Tethys Petroleum Ltd. – slide 32
    New Tethys Board Executive Chairman Chief Executive Officer Chief Financial Officer John Bell Julian Hammond Denise Lay Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive…
  33. Corporate Update – Tethys Petroleum Ltd. – slide 33
    TPL Net Asset Value Value (USm) Value (GBPm) MV Kazakhstan 160 101.27 MV Tajikistan 45.75 28.96 Georgia historical Costs 12 7.59 MV Rigs 15 9.49 Cash 7 4.43 less: loans & advances (17) (10.76) Less: G&A (10.5) (6.64)…
  34. Corporate Update – Tethys Petroleum Ltd. – slide 34
    TPL Net Asset Value MV Kazakhstan Based on SinoHan transaction plus 10 million loan funded to date MV Tajikistan Based on Total and CNPC farm-in deal value & back costs till December 2014. 63M paid for 66.66% of Tajikistan; therefore…
  35. Corporate Update – Tethys Petroleum Ltd. – slide 35
    Bokhtar 2015/16 Work programme 2015/16 WP JV Partners expect to receive the first fully processed data in late March 2015 and then Phase 1 (of 2) - an 826km 2D wide line in batches from September November 2015 seismic survey expected…
  36. Corporate Update – Tethys Petroleum Ltd. – slide 36
    Proven Drilling Track Record - Kazakhstan Kazakhstan Exploration Wells Kazakhstan Deep Wells 2800 140 5000 300 4500 2700 120 250 4000 100 3500 2600 200 3000 80 2500 2500 150 60 2000 2400 100 40 1500 1000 2300 20 50 500 2200 0…
  37. Corporate Update – Tethys Petroleum Ltd. – slide 37
    Tethys Petroleum Contacts Tethys Petroleum Investor Relations Sabin Rossi Corporate broker Vice President Investor Relations FirstEnergy Capital LLP E-mail: srossitethyspetroleum.com Hugh Sanderson / David van Erp Financial PR…
  38. Corporate Update – Tethys Petroleum Ltd. – slide 38
    40 Tethys sponsored horse racing on the Steppe, Bozoi, Kazakhstan

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