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CORPORATE PRESENTATION – Transglobe Energy Corporation

Transglobe Energy Corporation · Jun 1, 2014 · 28 slides

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Slides

  1. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 1
    TRANSGLOBE ENERGY CORPORATE PRESENTATION MAY 2014
  2. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 2
    INTRODUCTION TO TRANSGLOBE ENERGY Early operations Financial currency US included U.S., Canada and Yemen Focus in Egypt began in Proven track record 2004 currently 95% of with extensive Middle production East experience…
  3. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 3
    2014 GUIDANCE 17,000 19,000 Bopd Mid-point 18,000 Bopd Production Egypt West Gharib, West Bakr, East Ghazalat Yemen Block S-1/B-32 125MM (1.66/share) Using Mid-point and 100 Brent Funds Flow 11MM (0.15/share) Funds flow…
  4. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 4
    2014 CAPITAL GUIDANCE TransGlobe Net Capital (MM) Development Exploration Gross Well Count Concession Wells Projects Wells Seismic Total Dev Expl Total Eastern Desert 46.5 9.3 16.8 14.7 87.3 29 14 43 Western Desert 2.5 1.0 2.8 0.0 6.3 3…
  5. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 5
    INVESTMENT HIGHLIGHTS LAND 1.1 MILLION GROSS ACRES 2013 RESERVES 2P 45.3 MMBbl 2014 PRODUCTION MIDPOINT 18,000 Bopd 2014 EXPLORATION AND DEVELOPMENT 51 WELLS EGYPT (8 Projects) 100% Working Interest West Gharib* North West…
  6. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 6
    Q1 2014 FINANCIAL HIGHLIGHTS Funds flow of Earnings of 32.5MM 16.7MM (0.43/share) (0.22/share) Spent 107.6MM in 14.3MM on cash and cash expl and dev equivalents Positive Collected working capital 29.4MM from of 258.9MM…
  7. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 7
    SNAPSHOT 2014 CONCESSION EXPL Total APP/DEV OPERATIONS West 8 1 9 Gharib Q1 Production (Bopd) 17,932 Egypt Production 17,291 West Bakr 14 3 17 Yemen Production 641 East 3 2 5 2014 Guidance 18,000 Ghazalat 2P Reserves 45.3MMBbl NW…
  8. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 8
    EGPC ACCOUNTS RECEIVABLES Total Collections in 2013 were 275 Million (2012, 157 Million) Collections in Q1 were 29.4 Million Targeting 250 Million in 2014 AR outstanding vs Months outstanding AR outstanding vs Production per day…
  9. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 9
    2014 DIVIDEND Dividend program introduced to provide return to shareholders Special dividend of 0.10 per share will be paid on May 28, 2014 to shareholders of record on May 22, 2014 (ex-dividend date May 20, 2014) Initial quarterly…
  10. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 10
    PRODUCTION AND RESERVES Average Daily Production P + P Reserves (Bopd) (MMBbl) 25,000 60 Yemen Egypt Canada Yemen Egypt Canada 20,000 48.7 18,303 50 17,457 45.3 18,000* 44.2 40 15,000 12,132 30.4 9,960 30 10,000 24.2…
  11. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 11
    FUNDS FLOW AND RESERVES/SHARE Funds Flow from Operations Funds Flow from Operations per Share (USMM) (USMM/Share Diluted) 200 2.40 2.00 160 * 1.60 120 1.20 2.03 80 154 139 1.70 125 0.80 1.60 120 1.09 40 75 0.89…
  12. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 12
    EGYPT ASSETS: EASTERN DESERT East Ghazalat (50%) South Alamein (100%) Acquired 2010 Acquired 2012 102,000 Gross acres 197,000 Gross acres Dev & Expl Expl CAIRO West Gharib (100%) Acquired 2007 West Bakr (100%) 28,000 Gross…
  13. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 13
    WEST GHARIB: 100% WI - OPERATED Acquired field in 2007 Was producing 3000 Bopd 2014 Plan 9 wells Waterflood optimization Hoshia ASP flood simulation/lab work Facility centralization and upgrades Q1 11,100 Bopd Drilled 5 wells 4…
  14. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 14
    NW GHARIB: 100% WI - OPERATED 2014 Plan NWG 3 Drill 15-17 wells NWG 2 NWG 1 to spud in June Second rig in July NWG 6 PSC terms NWG 7 Cost oil: 25% NWG 9 Contractor Share of Profit oil: 15% NWG 1 Capital costs recovered over 5…
  15. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 15
    WEST BAKR: 100% WI - OPERATED Acquired in 2011 Was producing 4,000 Bopd 2014 Plan H 17 wells Water flood optimization Facility upgrades and optimization M Q1 K 5,757 Bopd Drilled 3 oil wells YTD drilled 5 wells 2 oil wells K…
  16. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 16
    EASTERN DESERT: 100% WI - OPERATED Planning large seismic program for 2014/15 in Egypt Total program 1,800 km 3-D & 300 km 2-D NW Gharib Eastern Desert 1,000 km 3-D & 300 km 2-D Western Desert 800 km 3-D NW Gharib 2014 Plan: up to…
  17. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 17
    EASTERN DESERT DRILLING HISTORY 40 2007-2014 West Bakr Current Drilling Totals 30 Producing Wells West Gharib 20 Oil Wells 142 West Gharib 81 10 D&A Wells 20 West Bakr 39 0 Success Rate 88% 2007 2008 2009 2010 2011 2012 2013 2014…
  18. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 18
    EASTERN DESERT INVENTORY Location Inventory Potential Drilling Locations Concession App/Dev Expl West Gharib 9 3 West Bakr 32 4 NW Gharib 46 33 SW Gharib - 4 SE Gharib - 2 Eastern Desert Totals 87 46 19
  19. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 19
    EGYPT ASSETS: WESTERN DESERT East Ghazalat (50%) South Alamein (100%) Acquired 2010 Acquired 2012 102,000 Gross acres 197,000 Gross acres Dev & Expl Expl CAIRO West Gharib (100%) Acquired 2007 West Bakr (100%) 28,000 Gross…
  20. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 20
    SOUTH ALAMEIN: 100% WI - OPERATED Acquired in 2012 Boraq Discovery 2014 Plan Contingent on Boraq access Boraq 2 tested at 1,700 Bopd* Expl period Clock stopped 20 + months from access approval Retained 800 square kilometers…
  21. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 21
    EAST GHAZALAT: 50% WI - NON-OPERATED Acquired in 2010 North Dabaa 2014 Plan Dev Lease Safwa Field 5 wells N Dabaa Dev Q1 434 Bopd 1 oil well, 1 D&A YTD drilled 3 wells EG 3 expl D&A 2 Safwa oil wells PSC terms Cost oil:…
  22. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 22
    SOUTH GHAZALAT: 100% WI - OPERATED North Dabaa Dev Lease 2014/2015 Plan Commence 800 km 3-D seismic program on SW portion of block PSC terms Cost oil: 25% Contractor Share of Profit oil: 15% Capital costs recovered over 5…
  23. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 23
    YEMEN: 25% / 13.81% WI Salsala Exploration Well 2014 Plan Block S-1 on production 50% during 2014 (Guidance) Block 32 3 wells in 2014 Salsala appraisal (2 wells) and early development Tasour development well Block 32 PSC…
  24. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 24
    TRANSGLOBE ENERGY CORPORATE PRESENTATION MAY 2014
  25. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 25
    THREE YEAR (2011 2013) F & D COSTS Top Tier F&D and Recycle Ratios 3 Yr Weighted 2P 2013 2012 2011 Average Netback* 19.64 / Bbl 22.08 / Bbl 26.24 / Bbl 22.19 / Bbl /Bbl F&D 34.78 / Bbl 4.46 / Bbl 7.07 / Bbl 10.02 / Bbl FD&A 47.96 /…
  26. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 26
    EXECUTIVES AND DIRECTORS Robert G. Jennings - Director, Chairman Ross G. Clarkson - Director, President and CEO Lloyd W. Herrick - Director, VP and COO Geoffrey C. Chase - Director Fred J. Dyment - Director Erwin L. Noyes Director…
  27. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 27
    ANALYST COVERAGE Christopher Brown, Canaccord Genuity, Calgary, Canada David Phung, Credit Suisse Securities, Calgary, Canada David Dudlyke, Dundee Securities, London, UK Victor Vallance, Edgecrest Capital, Toronto, Canada Gerry…
  28. CORPORATE PRESENTATION – Transglobe Energy Corporation – slide 28
    CONCESSION SUMMARY Working Concession Size (acres) Year Concession First Production Q1 2014 Concession Interest Gross Net Acquired Type Date Sales West Gharib 100% 28,904 28,904 2007 Development January 2000 11,100 NW Gharib 100%…

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