Cabre Maroc Purchase Onshore Morocco

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Cabre Maroc Purchase Onshore Morocco"

Transcription

1 Cabre Maroc Purchase Onshore Morocco AIM: GPX 19 December 2012

2 Purchase of Cabre Maroc Acquisition of Cabre Maroc, the Moroccan subsidiary of privately held Caithness Petroleum Operatorship of large contiguous and highly prospective onshore assets totalling 13,352 km² in northern Morocco with a proven working petroleum system for both oil and gas Acquisition provides near term cash flow from Rharb Central permit through: Low risk gas exploration assets Inexpensive to develop Local market demand for purchasing gas production Extensive network of gas pipelines 2P reserves of 0.6 Bscf, 2C contingent resources of 1.4 Bscf and P50 of 24.4 Bscf Significant upside potential from moderate to high risk oil exploration of thrust and folded structural features identified in the Rharb Sud, Fes and Taounate Permits Gulfsands has successfully reduced its exposure to Syria, with operatorship of assets in Tunisia and now Morocco 2

3 The Deal $19 million cash Provision of bank guarantees up to $11.5 million Carry totalling $11 million for Caithness through: Fes activity of 3 wells and 1,000 km 2D seismic acquisition up to a gross pool of $30 million ($10 million carry) Taounate activity of FTG survey & seismic acquisition up to a cap of $2.5 million ($1.0 million carry) ONHYM agreed in principle to issue 5 new permits to Cabre Maroc, subject to Ministerial approval Following completion, Cabre Maroc will transfer 25% interest in Fes Permit and 30% interest in Taounate Permits to Caithness PERMIT EQUITY INTEREST EXPLORATION FUNDING COMPANY GPX CP ONHYM GPX CP ONHYM RHARB 75% 0% 25% 100% 0% 0% FÉS 50% 25% 25% 66.66% 33.33% 0% TAUONATE 45% 30% 25% 60% 40% 0% 3

4 Morocco Purchase of Cabre Maroc Why Morocco? Stable political environment Attractive fiscal terms Tax/ royalty system - gas royalty 5%, oil royalty 10% 10 year corporate tax (30%) holiday on production State participation 25% carried interest through exploration phase Strong demand for oil and gas Vast majority of Morocco s energy is imported (97% in 2011) World s largest supplier of phosphates requires significant gas volumes Projected gas requirement of 275 bcf/yr by 2020 Leverage current expertise/ skill sets Why Cabre Maroc? Interested in the company for some time Meets all internal criteria set: Near term production potential = near term cashflow Significant exploration upside potential for oil Operatorship onshore with a large contiguous permit holding Proven working petroleum system with infrastructure already in place 4

5 Location and Infrastructure Maghreb-Europe 48 gas pipeline with capacity of 1.2 Bscf/d Small depleted oil fields light oil production Rharb Centre has an existing network of 4 and 8 pipelines that supply gas to industrial markets at Kenitra with a capacity of 26.5MMscfpd Fes and Taounate Permits have been lightly explored located adjacent and east of 3 depleted oil fields that produced light oil Rail networks could be used for transport of oil to the Mohommedia oil refinery 4 Gas Pipeline & 8 Gas Pipeline with capacity of 26.5 MMscf/d Railroad link Magreb Europe gas pipeline could be used for gas export if a large resource was discovered A network of 225kV power lines crosses the Fes and Rharb blocks associated gas can be used to generate electricity into the grid via power purchase agreements 5

6 Cabre Maroc Permits - Part of a Regional Petroleum System Regional Petroleum System Map Onshore Areas: Basement Massifs Mountain Ranges Foreland Basins Cabre Prerif prospects Active exploration programmes Large oil accumulations Offshore Areas: Continental Crust Oceanic Crust Cabre Foreland basin prospects Gulfsands Sicily Channel prospects The fold and thrust belt is part of a regional petroleum system extending from Spain to Italy Large prospective structures with petroleum potential Complex geology but application of modern technology such as 3D seismic and Full Tensor Gravity can significantly increase the chance of success (in the Fes and Taounate permits) The foreland area prospects of the Rharb Centre Permit in Morocco and the Offshore Kerkouane Permit in Tunisia are less complex with more simply defined structural traps 6

7 Fès Permit Play Cross section AZH1 Fès block Zalagh Lead The Boudraa and Tselfat Oil Fields were discovered and produced in 1950s & now depleted Haricha sandstone and Domerian limestone produced oil (35 degree API) in Tselfat Field - expected to be present in the adjacent Fès Permit The Zalagh lead shown to the right, and other leads like it in the Fès block, has the potential to trap significant quantities of oil. 7

8 Fès Permit Gravity Data Interpretation Modelled at Top Domerian Horizon Fès-1Z Well drilled offstructure Zalagh Lead Gravity data provides detailed structural configuration of the Fès permit Gravity data shows that FES-1Z was drilled off structure New 2D to be acquired to image structural highs 8

9 Rharb Centre Gas Entrapment Circle Oil Schematic Gas charged Miocene aged turbidite channel and fan sands within structural and stratigraphic traps Use of 3D seismic can decrease the risk of accurately identifying gas accumulations by seismic amplitude analyses ( bright spots ) as well as more advanced techniques All drilling to date by Caithness has been based only on 2D data 9

10 Rharb Centre Gas Play RHARB CENTRE New 3D acquired New 300 km 2 3D seismic programme acquired Q3 2012, data delivery Q SIDI AMER ZHANA Circle Oil activity New data should significantly improve exploration success rates Up to 9 exploration wells planned to be drilled in 2013 KENITRA RHARB SUD 10

11 Rharb Concessions and Reserves Name of Concession Fields Period of Validity Participating Interests Comments Zhana 1 Zhana to 2005 Zhana 2 Zhana 2 Zhana to 2018 Sidi Amer to 2019 The Company 65% ONHYM 35% The Company 75% ONHYM 25% The Company 75% ONHYM 25% ZH-1 Depleted ZH-2 & ZH-3 Depleted SAR-1 Shut in AHF-1 Depleted Cabre Maroc Gas Reserves & Resources to 1 Apr 2012* Reserves and Contingent Resources are carried for BFD-1 and DNO-1 accumulations, drilled in 2006 and 2009 respectively. Prospective Resources are carried for the general Rharb Permit Area. Rharb Permit Area Net Reserves Net Contingent Net Prospective 2P 3P 2C P50 P10 P50 Leads Gas (BSCF) Oil Equivalent (MMBOE) Since 1997, Cabre Maroc has drilled 13 wells based on 2D seismic data making 9 discoveries of which 5 have been put on production. * Audited by Senergy Group, Report Dated July Assumes 6 Bscf = 1 Mmboe BFD-1 has continued to produce intermittently during

12 Rharb Programme Provides Near-Term Cash Flow Modest sized prospects, but inexpensive drilling & development programmes Gas almost pure methane - minimal processing Gas network already in place Preferential gas pricing compared to other regions Sales of newly developed gas anticipated Q3, 2013 Conservative Case: 7 mmscfpd in 2014 & maintained for 5 years Assumptions Rharb 5 Well Daily Production Gross Exploration Well Cost/ well Gross Completion Cost/ well Gas Price $1.5m $1.5m Recoverable Gas Bscf wells drilled and 5 successful producers $8.50/mscf Commence production 3Q 2013 with 2 pro ducers Note: Circle Oil report producing MMscfpd from 3 wells & anticipate producing 8 MMscfpd by winter 2012 mscfpd 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1, Year Based on assumptions above, cash flow after tax exceeds G&A costs of the Group on an annualised basis and payback on the acquisition would be approximately 3 years 12

13 Way Forward Corporate Caithness Shareholders Meeting early January 2013 Completion anticipated mid-january 2013 Award of Taounate Permits possibly February Work Programme Rharb Permit Interpretation of 3D seismic survey Q and selection of drilling locations In Q2, start drilling of up to 9 wells on gas accumulations identified on 3D seismic Fes Permit Start 1,000 km 2D seismic acquisition March/ April 2013 followed by processing and interpretation Taounate Permit FTG survey of 10,000 line km FTG & 350 line km 2D seismic acquisition 2013 heralds the start of a new phase of activity for the Group 13

Gulfsands Petroleum plc. Corporate Presentation. London 21 January 2014 AIM: GPX

Gulfsands Petroleum plc. Corporate Presentation. London 21 January 2014 AIM: GPX Gulfsands Petroleum plc Corporate Presentation London 21 January 2014 AIM: GPX Gulfsands Overview E&P company with focus on MENA region Market cap ~ $80 million, AIM listed 2P Reserves ~ 75 MMboe Acquisition

More information

Gulfsands Petroleum plc Annual report and accounts For the year ended 31 December 2012

Gulfsands Petroleum plc Annual report and accounts For the year ended 31 December 2012 Gulfsands Petroleum plc Annual report and accounts For the year ended 31 December 2012 Registered number: 05302880 (England & Wales) Contents Highlights 3 Chairman s Statement 4 Objectives and Outcomes

More information

ASX Release. Romania Exploration Update. 2 October 2014

ASX Release. Romania Exploration Update. 2 October 2014 ASX Release 2 October 2014 Romania Exploration Update ADX Energy Ltd (ASX: ADX) is pleased to provide this update on seismic operations and the geotechnical assessment of the Parta permit in Western Romania.

More information

Norwest Energy NL. Northern Perth Basin Farm-In Opportunities. PESA Deal Day Brisbane - 2016. Shelley Robertson Asset Manager.

Norwest Energy NL. Northern Perth Basin Farm-In Opportunities. PESA Deal Day Brisbane - 2016. Shelley Robertson Asset Manager. Norwest Energy NL Northern Perth Basin Farm-In Opportunities PESA Deal Day Brisbane - 2016 Shelley Robertson Asset Manager 1 June 2016 Disclaimer The information contained in this Presentation or subsequently

More information

ASX Release. Activities Report Quarter Ended 31 December 2015 HIGHLIGHTS. 29 January 2016 CORPORATE

ASX Release. Activities Report Quarter Ended 31 December 2015 HIGHLIGHTS. 29 January 2016 CORPORATE ASX Release 29 January 2016 Activities Report Quarter Ended 31 December 2015 HIGHLIGHTS CORPORATE The cost cutting measures undertaken since October 2015 have started to significantly reduce the G&A expenditure

More information

For personal use only

For personal use only ASX Release 29 January 2016 Activities Report Quarter Ended 31 December 2015 HIGHLIGHTS CORPORATE The cost cutting measures undertaken since October 2015 have started to significantly reduce the G&A expenditure

More information

For personal use only

For personal use only ABN 96 009 217 154 14 February 2013 ASX Limited Electronic lodgement Acquisition of Producing Oil Field Xstate Resources Limited (ASX: XST) advises that it has signed a memorandum of understanding ( MOU

More information

Proposed Acquisition of Licence Interests in Tanzania - Heads of Terms Signed. Kiliwani North Development Licence and Ruvuma PSA, Tanzania

Proposed Acquisition of Licence Interests in Tanzania - Heads of Terms Signed. Kiliwani North Development Licence and Ruvuma PSA, Tanzania 19 November 2015 Bowleven plc ( Bowleven or the Company ) Proposed Acquisition of Licence Interests in Tanzania - Heads of Terms Signed Kiliwani North Development Licence and Ruvuma PSA, Tanzania Bowleven,

More information

Important Notice Disclaimer

Important Notice Disclaimer Important Notice Disclaimer The information in this presentation: Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy Limited or to retain or sell any shares that are

More information

Building a well-funded, full-cycle, exploration led E&P company

Building a well-funded, full-cycle, exploration led E&P company Investor Presentation Building a well-funded, full-cycle, exploration led E&P company June 2016 Important Notice This Presentation does not constitute an offer or invitation or a solicitation of any offer

More information

The First Philippine Petroleum Public Contracting Round (PCR-1) Eduardo V. Mañalac

The First Philippine Petroleum Public Contracting Round (PCR-1) Eduardo V. Mañalac W01/3868 The First Philippine Petroleum Public Contracting Round (PCR-1) Eduardo V. Mañalac Undersecretary Department of Energy Why Philippines? Prospectivity? Market? Economics? 2 PCR-1 1 offers easy

More information

Melbourne Mining Club Presentation

Melbourne Mining Club Presentation Karoon Gas Australia Ltd Melbourne Mining Club Presentation September 2014 Queiroz Galvão Olinda Star Semi Submersible Drilling Rig Disclaimers - This presentation has been prepared by Karoon Gas Australia

More information

Circle Oil plc H1 2015 Interim Results Presentation

Circle Oil plc H1 2015 Interim Results Presentation Circle Oil plc H1 2015 Interim Results Presentation 29 September 2015 www.circleoil.net Disclaimer The information contained in this document ( Presentation ) has been prepared by Circle Oil plc (the Company

More information

Licensing system in Norway. Steinar Njå Norwegian Petroleum Directorate

Licensing system in Norway. Steinar Njå Norwegian Petroleum Directorate Licensing system in Norway Steinar Njå Norwegian Petroleum Directorate Licensing system in Norway Discretionary system The Government invites companies to apply for exclusive rights to petroleum activities

More information

AGM Presentation. 24 June 2013

AGM Presentation. 24 June 2013 AGM Presentation 24 June 2013 1 Introduction 2012 review Implications of 2012 drilling programme Funding & Forward Plan 2 2012 Review Equity fund raising Farm-outs Drilling Loligo Scotia 3 Farm-outs to

More information

OPPORTUNITIES IN THE UPSTREAM SECTOR OF MONTENEGRO. Vladan Dubljević Tamara Pavličić

OPPORTUNITIES IN THE UPSTREAM SECTOR OF MONTENEGRO. Vladan Dubljević Tamara Pavličić OPPORTUNITIES IN THE UPSTREAM SECTOR OF MONTENEGRO Vladan Dubljević Tamara Pavličić Discussion Topics Business Environment Legal and fiscal regime Petroleum policy and resource management Fiscal system

More information

ASX ANNOUNCEMENT 17 JUNE 2014

ASX ANNOUNCEMENT 17 JUNE 2014 ASX ANNOUNCEMENT 17 JUNE 2014 Sunbird-1 oil zone verified offshore Kenya Historic first-ever oil column discovered offshore East Africa Sunbird-1 well, completed in March in area L10A, intersected a gross

More information

Cooper Energy Limited Oil Field Appraisal Opportunity

Cooper Energy Limited Oil Field Appraisal Opportunity Cooper Energy Limited Oil Field Appraisal Opportunity May 2011 Tunisia Hammamet West Oil Field Bargou Exploration Permit Offshore Gulf of Hammamet Cooper Energy is offering the opportunity to participate

More information

EGAS. Ministry of Petroleum

EGAS. Ministry of Petroleum EGAS Ministry of Petroleum EGAS Ministry of Petroleum About The Block Location: Shorouk offshore block is a part of recent relinquished of NEMED concession previously operated by Shell. It is bounded from

More information

Role of the National Oil Company in the Development of the Energy Sector

Role of the National Oil Company in the Development of the Energy Sector Petroleum Company of Trinidad and Tobago Limited Role of the National Oil Company in the Development of the Energy Sector Presented by: Professor Andrew Jupiter, FEI, FIMMM Chairman, PETROTRIN Energy Caribbean

More information

CHIEF EXECUTIVE S MESSAGE

CHIEF EXECUTIVE S MESSAGE Management s Discussion and Analysis December 31, 2012 CHIEF EXECUTIVE S MESSAGE The 2012 year was very active from a regulatory process and commercial perspective. With the two upward revisions by Gaffney

More information

A clear business model and strategy

A clear business model and strategy Our business model and strategy introduction Our business model and strategy have remained consistent since inception and have proven valid in both high and low oil price cycles. A clear business model

More information

Petro River Oil Corp. Reports Second Quarter 2015 Financials. Net Income of $6,293,845 ($0.74 per share)

Petro River Oil Corp. Reports Second Quarter 2015 Financials. Net Income of $6,293,845 ($0.74 per share) Petro River Oil Corp. Reports Second Quarter 2015 Financials Net Income of $6,293,845 ($0.74 per share) NEW YORK, NY, December 16, 2015 Petro River Oil Corp. (OTCBB: PTRCD) ( Petro River or the "Company"),

More information

For personal use only

For personal use only COMPANY INFORMATION Verus Investments Limited ABN 59 009 575 035 INVESTMENTS Tunisia Chorbane Block Project (10% Working Interest) USA (72% Working Interest) Bullseye Project (10% Working Interest) ACTIVITIES

More information

* Excluding unspent cash deposited by the Company in Joint Venture accounts

* Excluding unspent cash deposited by the Company in Joint Venture accounts Quarterly Report For the period ended 30 September 2015 HIGHLIGHTS Closing cash of $6.2 million* Completion of MZ1 deep water exploration well offshore Morocco and postwell evaluation is underway ahead

More information

INTERIM MANAGEMENT STATEMENT THIRD QUARTER 2015

INTERIM MANAGEMENT STATEMENT THIRD QUARTER 2015 19 November 2015 AMINEX PLC ( Aminex or the Company ) INTERIM MANAGEMENT STATEMENT THIRD QUARTER 2015 Aminex PLC ("Aminex" or the Group or the "Company"), an oil and gas company listed on the London and

More information

Management presentation. October 2014

Management presentation. October 2014 Management presentation October 2014 Group overview History of Maurel & Prom Purchase of exploration agreements in Gabon Acquisition of the HOCOL GROUP in Colombia and Venezuela Acquisition of a 25% stake

More information

Summary. December 2015 Quarterly Report. Contact. Norwest Energy NL. 29 January 2016 ASX: NWE

Summary. December 2015 Quarterly Report. Contact. Norwest Energy NL. 29 January 2016 ASX: NWE ASX: NWE December 2015 Quarterly Report 29 January 2016 Summary Norwest continues to retain a large footprint in the northern Perth Basin, with a net acreage position of 3,100km 2, containing seven permits

More information

Appendix 25. Content of a Competent Person s Report for Petroleum Reserves and Resources

Appendix 25. Content of a Competent Person s Report for Petroleum Reserves and Resources Appendix 25 Content of a Competent Person s Report for Petroleum Reserves and Resources (See rule 18.20) The Competent Person s Report for Petroleum Reserves and Resources must include the following: 1.

More information

PRESIDENT ENERGY PLC. ( President or the Company ) OIL DISCOVERY IN PARAGUAYAN CHACO

PRESIDENT ENERGY PLC. ( President or the Company ) OIL DISCOVERY IN PARAGUAYAN CHACO 20 October 2014 PRESIDENT ENERGY PLC ( President or the Company ) OIL DISCOVERY IN PARAGUAYAN CHACO President Energy announces an update on its Lapacho well, Pirity Concession, Paraguayan Chaco (President

More information

Compliance statements

Compliance statements UBS conference 18 June 2014 1 Compliance statements Disclaimer This presentation contains forward looking statements that are subject to risk factors associated with oil, gas, geothermal and related businesses.

More information

6 Cavendish Square, London W1G 0PD, England,UK

6 Cavendish Square, London W1G 0PD, England,UK RNS Number : 3190L JKX Oil & Gas PLC 05 May 2010 6 Cavendish Square, London W1G 0PD, England,UK Tel: +44 (0)20 7323 4464 Fax: +44 (0)20 7323 5258 Web site: http://www.jkx.co.uk JKX Oil & Gas plc INTERIM

More information

ASX Announcement GOOD OIL CONFERENCE PRESENTATION OUR FOCUS. The Company Announcement Officer ASX Ltd via electronic lodgement COOPER BASIN

ASX Announcement GOOD OIL CONFERENCE PRESENTATION OUR FOCUS. The Company Announcement Officer ASX Ltd via electronic lodgement COOPER BASIN ASX Announcement Strike Energy Limited ABN 59 078 012 745 5 September 2012 The Company Announcement Officer ASX Ltd via electronic lodgement GOOD OIL CONFERENCE PRESENTATION OUR FOCUS COOPER BASIN Over

More information

Northern Petroleum Plc. Oil Capital September 2016

Northern Petroleum Plc. Oil Capital September 2016 Plc Oil Capital Disclaimer These presentation materials (the "Presentation Materials") are being solely issued to and directed at persons having professional experience in matters relating to investments

More information

October 2013. Guatemalan Oil Production and Exploration

October 2013. Guatemalan Oil Production and Exploration October 2013 C O R P O R A T E P R E S E N T A T I O N Guatemalan Oil Production and Exploration Investment Highlights Citation holds direct 60% equity interest in Latin American Resources Ltd (Bahamas)

More information

ALPINE OIL & GAS ROMANIA. Status November 2007

ALPINE OIL & GAS ROMANIA. Status November 2007 ROMANIA Status November 2007 VIENNA EXTENSIVE HYDROCARBON SYSTEM London Vienna Bucharest VIENNA BUCHAREST: 870 km EXTENSIVE HYDROCARBON SYSTEM Vienna Basin Molasse Zone Vienna Transylvania Pannonian Foredeep

More information

SITE SELECTION GORGON CARBON DIOXIDE INJECTION PROJECT. Greg Leamon Geoscience Australia

SITE SELECTION GORGON CARBON DIOXIDE INJECTION PROJECT. Greg Leamon Geoscience Australia SITE SELECTION GORGON CARBON DIOXIDE INJECTION PROJECT Greg Leamon Geoscience Australia Gorgon Project Joint Venture Participants Chevron (~47%) operator ExxonMobil (25%) Shell (25%) Osaka Gas (1.25%)

More information

VAALCO ENERGY ANNOUNCES FIRST QUARTER 2015 RESULTS

VAALCO ENERGY ANNOUNCES FIRST QUARTER 2015 RESULTS VAALCO ENERGY ANNOUNCES FIRST QUARTER 2015 RESULTS HOUSTON MAY 7, 2015 VAALCO Energy, Inc. (NYSE: EGY) today reported results for the first quarter of 2015. First Quarter 2015 highlights: Successfully

More information

2015 Annual General Meeting. 25 November 2015

2015 Annual General Meeting. 25 November 2015 2015 Annual General Meeting 25 November 2015 1 Discussion Agenda 1. Company Profile a. Indonesian Assets Sumatra Basin East Kalimantan 2. Current Indonesian Operations a. South Sumatra Activities b. Central

More information

ROMANIAN PANNONIAN BASIN Outstanding Opportunity

ROMANIAN PANNONIAN BASIN Outstanding Opportunity ROMANIAN PANNONIAN BASIN Outstanding Opportunity Introduction East West Petroleum Corporation (EWP) is a Vancouver-based, public E&P company, focused on investing in emerging international E&P projects

More information

ande ande lumut oil project

ande ande lumut oil project ande ande lumut oil project Unlocking hidden value At the start of 2011, AWE s presence in Asia comprised a handful of Indonesian exploration permits. But as the year drew to a close, an opportunity emerged

More information

Leni Gas and Oil plc. The T&T Energy Conference. London (AIM): LGO. 4 February 2014 Neil Ritson, CEO

Leni Gas and Oil plc. The T&T Energy Conference. London (AIM): LGO. 4 February 2014 Neil Ritson, CEO Leni Gas and Oil plc The T&T Energy Conference 4 February 2014 Neil Ritson, CEO London (AIM): LGO 1 Delivering Growth through the Acquisition of Proven Reserves & Enhancement of Producing Assets 2 Company

More information

Value focused Methodical delivery

Value focused Methodical delivery Value focused Methodical delivery ASX / AIM: OEX February 2015 Important Information Disclaimer The presentation in this projected form and as verbally presented (Presentation) is provided on the basis

More information

Johan Sverdrup Development

Johan Sverdrup Development Johan Sverdrup Development WF12033 p00 06.16 June 2016 Key Facts Discovered by Lundin Petroleum in 2010 140 km offshore west coast of Norway in 110 120 metres of water Fifth largest oil discovery made

More information

Independent Resources

Independent Resources OIL & GAS FLASHNOTE Independent Resources (IRG LN) Stock Data Share Price: 0.65p Market Cap (M): 1.3m EV (M): 1.3m Free float 79.8% Liquidity (30 day ave) 7.8m Price Chart 4.00 3.50 3.00 2.50 2.00 1.50

More information

TD Securities Calgary Energy Conference July 2014

TD Securities Calgary Energy Conference July 2014 TD Securities Calgary Energy Conference July 2014 Forward-Looking Statements Certain statements, estimates and financial information contained in this presentation ("Estimates") constitute forwardlooking

More information

WHL ENERGY SEPTEMBER 2011 QUARTERLY ACTIVITIES REPORT

WHL ENERGY SEPTEMBER 2011 QUARTERLY ACTIVITIES REPORT WHL Energy Ltd ABN: 25 113 326 524 Level 2, 22 Delhi St, West Perth, WA 6005 P.O. Box 1042, West Perth Western Australia 6872 T: +61 8 6500 0271 F: +61 8 9321 5212 www.whlenergy.com ASX/MEDIA RELEASE 31

More information

Moesia Oil and Gas plc. 2012 Review

Moesia Oil and Gas plc. 2012 Review Moesia Oil and Gas plc 2012 Review Managing Director s Report 2012 was a significant year of progress and expansion for Moesia that saw a full year of activity in our six Romanian licences, the farm-out

More information

OIL AND GAS RESERVES AND NET PRESENT VALUE OF FUTURE NET REVENUE

OIL AND GAS RESERVES AND NET PRESENT VALUE OF FUTURE NET REVENUE OIL AND GAS RESERVES AND NET PRESENT VALUE OF FUTURE NET REVENUE In accordance with National Instrument 51-101 Standard of Disclosure for Oil and Gas Activities, McDaniel & Associates Consultants Ltd.

More information

Energy Lending Industry Review Investor Conference Call. January 20, 2015

Energy Lending Industry Review Investor Conference Call. January 20, 2015 Investor Conference Call January 20, 2015 Factors Impacting Borrowing Base Loan Amount Lower prices / price deck Higher prices / price deck Energy Lending Industry Review Borrowing Base Decrease Borrowing

More information

orthern Petroleum Nederland B.V.

orthern Petroleum Nederland B.V. orthern Petroleum Nederland B.V. 4th December 2009 First Gas Grolloo 4 December 2009 M. Hoefsloot opens well Northern Petroleum Nederland B.V. Lange Voorhout 86 unit S2b 2514 EJ s Gravenhage T. +31(0)70

More information

Oil and Gas Steve Oliver

Oil and Gas Steve Oliver English for Global Industries Oil and Gas Steve Oliver Contents Sections 1 Oil and Gas 2 Working on a Rig 3 Drilling Operations 4 Geological and Geophysical Operations 5 Producing and Delivering Units

More information

Cairn Energy PLC SPAIN

Cairn Energy PLC SPAIN Cairn Energy PLC SPAIN An introduction to CAIRN IN SPAIN DISCOVERING HIDDEN VALUE In Spain Cairn operates through Capricorn Spain Limited, a wholly owned subsidiary of Cairn Energy PLC Cairn is one of

More information

Annual General Meeting

Annual General Meeting Annual General Meeting Westbury Hotel, Dublin, 13th September 2013 Forward Looking Statements The content of this presentation relating to Moesia Oil and Gas plc ( Moesia ) has not been approved by an

More information

Third Quarter Report. September 30, 2011

Third Quarter Report. September 30, 2011 Third Quarter Report September 30, 2011 MANAGEMENT S DISCUSSION AND ANALYSIS (Amounts expressed in United States dollars unless otherwise indicated) For the three and nine months ended September 30, 2011

More information

THE HRT OIL & GAS / TNK-BRASIL CONSORTIUM

THE HRT OIL & GAS / TNK-BRASIL CONSORTIUM THE HRT OIL & GAS / TNK-BRASIL CONSORTIUM WHO WE ARE The HRT OIL & GAS / TNK-BRASIL Consortium holds 21 exploration blocks/concessions in the Solimões Basin. HRT O&G is the operator with a 55% WI; TNK-Brasil

More information

For personal use only

For personal use only Antilles Oil and Gas NL ACN 111 823 762 HALF YEAR REPORT 30 June 2015 The information contained in this document should be read in conjunction with Antilles Oil and Gas NL s annual report for the year

More information

PETROLEUM EXPLORATION, DEVELOPMENT AND PRODUCTION PROCESS

PETROLEUM EXPLORATION, DEVELOPMENT AND PRODUCTION PROCESS PETROLEUM EXPLORATION, DEVELOPMENT AND PRODUCTION PROCESS MUHAMMAD IMADUDDIN Managing Director, BAPEX BUET, 30 APRIL 2008 THE STAGES OF EXPLORATION AND DEVELOPMENT RECONNAISANCE DETAILING PROSPECT STRUCTURE

More information

For personal use only

For personal use only 15 December 2015 Icewine #1 Drilling Update 88 Energy Limited ( 88 Energy, the Company, Operator ) (ASX, AIM: 88E) is pleased to provide the following drilling update. Highlights HRZ primary target intersected

More information

SORP. Statement of Recommended Practice. Accounting for Oil and Gas Exploration, Development, Production and Decommissioning Activities

SORP. Statement of Recommended Practice. Accounting for Oil and Gas Exploration, Development, Production and Decommissioning Activities SORP Statement of Recommended Practice Accounting for Oil and Gas Exploration, Development, Production and Decommissioning Activities Updated 7 th June 2001 A SORP issued by the Oil Industry Accounting

More information

AN INTRODUCTION TO CAIRN IN SENEGAL CAIRN ENERGY PLC SENEGAL DELIVERING VALUE FROM DISCOVERY AND DEVELOPMENT

AN INTRODUCTION TO CAIRN IN SENEGAL CAIRN ENERGY PLC SENEGAL DELIVERING VALUE FROM DISCOVERY AND DEVELOPMENT CAIRN ENERGY PLC SENEGAL AN INTRODUCTION TO CAIRN IN SENEGAL DELIVERING VALUE FROM DISCOVERY AND DEVELOPMENT In Senegal, Cairn operates through Capricorn Senegal Limited, a wholly owned subsidiary of Cairn

More information

PetroMaroc Corporation plc Management s Discussion and Analysis

PetroMaroc Corporation plc Management s Discussion and Analysis PetroMaroc Corporation plc Management s Discussion and Analysis This Management s Discussion and Analysis ( MD&A ) of the financial condition and results of operations of PetroMaroc Corporation plc ( PetroMaroc

More information

Q1 2014 RESULTS CONFERENCE CALL MAY 7, 2014

Q1 2014 RESULTS CONFERENCE CALL MAY 7, 2014 Q1 2014 RESULTS CONFERENCE CALL MAY 7, 2014 CAUTIONARY STATEMENT This presentation may include certain statements that may be deemed to be forward-looking statements within the meaning of the U.S. Private

More information

Namibia. Koep & Partners. Introduction

Namibia. Koep & Partners. Introduction Koep & Partners Introduction Key legislation and regulatory structure Once largely ignored by international oil and gas companies, has in recent times been called one of the last frontiers of oil and gas

More information

ISSUE 115 3rd April, 2013

ISSUE 115 3rd April, 2013 ISSUE 115 3rd April, 2013 1 Strike Energy (STX) Spec Buy around $0.115 An emerging petroleum play with high-profile exposures in the form of the Eagle Ford Shale in the USA, the Palta-1 exploration well

More information

Investor Presentation Q2 2016

Investor Presentation Q2 2016 Investor Presentation Q2 2016 Building a Mid-cap Mediterranean Gas Company... Regional gas strategy underpinned by Strong European gas fundamentals Pan European / African Strategic Partnership with Schlumberger

More information

STATE of ALASKA - OIL & GAS RESOURCES - Bob Swenson Alaska Division of Geological & Geophysical Surveys

STATE of ALASKA - OIL & GAS RESOURCES - Bob Swenson Alaska Division of Geological & Geophysical Surveys STATE of ALASKA - OIL & GAS RESOURCES - Bob Swenson Alaska Division of Geological & Geophysical Surveys PETROLEUM SYSTEMS, RESERVES, & RESOURCES Petroleum Systems necessary components High organic source

More information

THE PETROLEUM REGIME IN GHANA

THE PETROLEUM REGIME IN GHANA GNPC THE PETROLEUM REGIME IN GHANA DR JUSTINA AKYEAMPONG (CHIEF LEGAL OFFICER, GNPC) 30 TH NOVEMBER,, 2009 REGULATORY LEGISLATION There are 3 pieces of legislation governing petroleum exploration and production

More information

ANNUAL FINANCIAL REPORT

ANNUAL FINANCIAL REPORT ANNUAL FINANCIAL REPORT 31 DECEMBER 2012 CONTENTS Contents Page Corporate Directory 2 Managing Director s Report.. 4 Operations Report 5 Directors Report 10 Corporate Governance Statement 19 Directors

More information

PETRONEFT RESOURCES PLC. Annual General Meeting, 29 August 2014

PETRONEFT RESOURCES PLC. Annual General Meeting, 29 August 2014 PETRONEFT RESOURCES PLC Annual General Meeting, 29 August 2014 FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements that are subject to the usual risk factors and uncertainties

More information

Peru Block Z-34: The Environmental Impact Assessment ( EIA ) was approved by the Ministry of Energy and Mines in June 2014.

Peru Block Z-34: The Environmental Impact Assessment ( EIA ) was approved by the Ministry of Energy and Mines in June 2014. 2 September 2013 BARON OIL Plc ("Baron Oil", Baron or "the Company") Unaudited Interim Financial Information for the period 2014 to 30 June 2014 Baron Oil Plc, the AIM-listed oil and gas exploration and

More information

Key features Q2 FY16. Managing Director s comments

Key features Q2 FY16. Managing Director s comments 27 January 2016 Key features Q2 FY16 Production steady: 123 kbbl in the 3 months to 31 December, vs previous quarter of 125 kbbl and up 2% on pcp of 118 kbbl Revenue of $7.0 million: down from $7.6 million

More information

Annual General Meeting 2014

Annual General Meeting 2014 Annual General Meeting 2014 26 th September 2014, Dublin Joel Price, COO AGM presentation contents Company overview Activity since last AGM Assets overview 1. Poland 2. Morocco offshore 3. Morocco onshore

More information

OMV E&P in North Africa

OMV E&P in North Africa OMV Aktiengesellschaft OMV E&P in North Africa Move and more. Content OMV at a glance OMV s contribution to E&P in North Africa Growth Projects in Tunisia OMV s plans for the future 2 OMV Exploration &

More information

Light Oil Exploration Williston Basin Saskatchewan, Canada. Corporate Presentation Q1 2015

Light Oil Exploration Williston Basin Saskatchewan, Canada. Corporate Presentation Q1 2015 Light Oil Exploration Williston Basin Saskatchewan, Canada Corporate Presentation Q1 2015 Forward Looking Statements This presentation includes forward-looking statements as well as historical information.

More information

Half-yearly Results. 25 July 2014

Half-yearly Results. 25 July 2014 Half-yearly Results 25 July 2014 1 1 Important notice DISCLAIMER FORWARD-LOOKING STATEMENTS This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These

More information

Annual Report 2015 Exploration, Development and Gas Monetisation in East Africa

Annual Report 2015 Exploration, Development and Gas Monetisation in East Africa Annual Report 2015 Exploration, Development and Gas Monetisation in East Africa Wentworth Resources Limited is an independent energy company with gas production and exploration acerage in the Rovuma Basin

More information

INDEPENDENT REPORTS CONFIRM SIGNIFICANT POTENTIAL FOR LINC ENERGY S SHALE OIL IN THE ARCKARINGA BASIN

INDEPENDENT REPORTS CONFIRM SIGNIFICANT POTENTIAL FOR LINC ENERGY S SHALE OIL IN THE ARCKARINGA BASIN ASX Announcement SAPEX DIVISION ASX Code: LNC OTCQX Code: LNCGY 23 January 2013 INDEPENDENT REPORTS CONFIRM SIGNIFICANT POTENTIAL FOR LINC ENERGY S SHALE OIL IN THE ARCKARINGA BASIN Independent prospective

More information

SPARTAN ENERGY CORP. ANNOUNCES TWO CONSOLIDATING SOUTHEAST SASKATCHEWAN LIGHT OIL ACQUISITIONS AND BANK LINE REDETERMINATION

SPARTAN ENERGY CORP. ANNOUNCES TWO CONSOLIDATING SOUTHEAST SASKATCHEWAN LIGHT OIL ACQUISITIONS AND BANK LINE REDETERMINATION Suite 500, 850 2 nd Street SW Calgary, AB T2P 0R8 Canada Ph.: (403) 355-8920 Fax: (403) 355-2779 SPARTAN ENERGY CORP. ANNOUNCES TWO CONSOLIDATING SOUTHEAST SASKATCHEWAN LIGHT OIL ACQUISITIONS AND BANK

More information

AFRICA OIL CORP. Year End Report to Shareholders

AFRICA OIL CORP. Year End Report to Shareholders Year End Report to Shareholders December 31, 2011 MANAGEMENT S DISCUSSION AND ANALYSIS (Amounts expressed in United States dollars unless otherwise indicated) Management s discussion and analysis ( MD&A

More information

ADX Energy. Originally Published Wednesday, 16 November 2011 MOVES TO TESTING & APPRAISAL/PRODUCTION MODE AT SIDI DHAHER.

ADX Energy. Originally Published Wednesday, 16 November 2011 MOVES TO TESTING & APPRAISAL/PRODUCTION MODE AT SIDI DHAHER. Written under AFSL: 259730 November 17th, 2011 ADX Special Edition By Peter Strachan Originally Published 16 November 2011 ADX Energy (ADX) ADX is a speculative buy. Originally Published Wednesday, 16

More information

RELATIONSHIP BETWEEN PRODUCER GAS PRICE AND RESERVES

RELATIONSHIP BETWEEN PRODUCER GAS PRICE AND RESERVES RELATIONSHIP BETWEEN PRODUCER GAS PRICE AND RESERVES By Faisal Jamil, Energy Specialist (Economics) Pakistan heavily relies on gas for its energy requirements. The new discoveries of natural gas do not

More information

Longreach Oil and Gas Ticker: CA-TSX-V: LOI Price: CAD$0.89 # Market Cap: CAD$20.9m

Longreach Oil and Gas Ticker: CA-TSX-V: LOI Price: CAD$0.89 # Market Cap: CAD$20.9m 19 xx March 2012 Oil and Gas Initiation Longreach Oil and Gas Ticker: CA-TSX-V: LOI Price: CAD$0.89 # Market Cap: CAD$20.9m Year to Dec Currency / Regime Revenue EBIT Net Income 2009 Canadian GAAP 0 (87,215)

More information

NOTE FOR MINING AND OIL & GAS COMPANIES - JU N E 2 0 0 9

NOTE FOR MINING AND OIL & GAS COMPANIES - JU N E 2 0 0 9 NOTE FOR MINING AND OIL & GAS COMPANIES - JU N E 2 0 0 9 A G U I D E T O A I M U K TA X B E N E F I T S 2 AIM Note for Mining, Oil and Gas Companies Contents Introduction 1 Companies to which this Note

More information

Abdelly & Associés. Key legislation and regulatory structure. Introduction

Abdelly & Associés. Key legislation and regulatory structure. Introduction Abdelly & Associés Introduction s current proven reserves are approximately 838m barrels, of which 51 per cent is oil and 49 per cent is gas. Approximately two-thirds of s proven gas reserves are located

More information

Mining Indaba Presentation. Capetown, South Africa 8 th 10 th February 2016

Mining Indaba Presentation. Capetown, South Africa 8 th 10 th February 2016 Mining Indaba Presentation Capetown, South Africa 8 th 10 th February 2016 www.birimiangold.com 1 Disclaimer This presentation has been prepared by Birimian Gold Limited (BGS) for general information purposes

More information

INTERIM REPORT TM CLONTARF PLC. Persian Gold Interim

INTERIM REPORT TM CLONTARF PLC. Persian Gold Interim INTERIM REPORT 2011 TM CLONTARF PLC Persian Gold Interim plc Interim Statement for the period ended 30 June 2011 successfully listed on AIM in April 2011. It was formed by a merger of Hydrocarbon Exploration

More information

CORPORATE PRESENTATION June 2013. A Lundin Group Company

CORPORATE PRESENTATION June 2013. A Lundin Group Company CORPORATE PRESENTATION June 2013 2 Kurdistan Maintaining Forward Momentum» Continued interest in the region. Erbil tagged as the Exploration Capital of the World. Kurdistan» Activity level in country remains

More information

Coalbed Methane and Mine Gas

Coalbed Methane and Mine Gas Chapter 13 Oil, Coalbed Methane and Mine Gas A beam pump or Nodding Donkey at Kirklington 171 Introduction 13.1 Oil exploration in Nottinghamshire began prior to the Second World War when possible oil

More information

AFRICA OIL 2014 FOURTH QUARTER AND FULL YEAR FINANCIAL AND OPERATING RESULTS

AFRICA OIL 2014 FOURTH QUARTER AND FULL YEAR FINANCIAL AND OPERATING RESULTS Suite 2000 885 West Georgia Street Vancouver, B.C. Canada V6C 3E8 Ph. 604-689-7842 Fx. 604-689-4250 africaoilcorp@namdo.com africaoilcorp.com NEWS RELEASE AFRICA OIL 2014 FOURTH QUARTER AND FULL YEAR FINANCIAL

More information

Newell Dennison. Institute of the Americas XXII Annual La Jolla Energy Conference May 20 22, 2013 La Jolla, California, U.S.A.

Newell Dennison. Institute of the Americas XXII Annual La Jolla Energy Conference May 20 22, 2013 La Jolla, California, U.S.A. Newell Dennison Institute of the Americas XXII Annual La Jolla Energy Conference May 20 22, 2013 La Jolla, California, U.S.A. 2 COUNTRY PROFILE Capital: Languages: Georgetown English (Official) Amerindian

More information

ASX RELEASE GOOD OIL CONFERENCE PRESENTATION. Roc Oil Company Limited (ROC) 7 September 2011

ASX RELEASE GOOD OIL CONFERENCE PRESENTATION. Roc Oil Company Limited (ROC) 7 September 2011 Roc Oil Company Limited (ROC) 7 September 2011 ASX RELEASE GOOD OIL CONFERENCE PRESENTATION Attached is ROC's presentation to the 2011 Good Oil Conference. A copy is also available on ROC's website: http://www.rocoil.com.au/investor-centre/presentations/

More information

FIRST BID ROUND 2013/2014 HYDROCARBONS EXPLORATION AND PRODUCTION IN MONTENEGRO. Government of Montenegro Ministry of Economy

FIRST BID ROUND 2013/2014 HYDROCARBONS EXPLORATION AND PRODUCTION IN MONTENEGRO. Government of Montenegro Ministry of Economy FIRST BID ROUND 2013/2014 HYDROCARBONS EXPLORATION AND PRODUCTION IN MONTENEGRO Government of Montenegro Ministry of Economy Government of Montenegro Ministry of Economy Dear Investor, The Ministry of

More information

Gran Tierra Energy Inc. Announces 2015 Year-End Reserves and Combined Pro Forma Reserves and Resources

Gran Tierra Energy Inc. Announces 2015 Year-End Reserves and Combined Pro Forma Reserves and Resources Gran Tierra Energy Inc. Announces 2015 Year-End Reserves and Combined Pro Forma Reserves and Resources CALGARY, Alberta January 21, 2016 Gran Tierra Energy Inc. ( Gran Tierra or the "Company") (NYSE MKT:

More information

EAGLEWOOD ENERGY INC. ANNUAL REPORT

EAGLEWOOD ENERGY INC. ANNUAL REPORT EAGLEWOOD ENERGY INC. ANNUAL REPORT DECEMBER 31, 2012 CHIEF EXECUTIVE S MESSAGE The 2012 year was very active from a regulatory process and commercial perspective. With the two upward revisions by Gaffney

More information

PRESS RELEASE. November 12, 2013

PRESS RELEASE. November 12, 2013 PRESS RELEASE November 12, 2013 TORC OIL & GAS LTD. ANNOUNCES THIRD QUARTER 2013 FINANCIAL & OPERATIONAL RESULTS, SUCCESSFUL TRANSITION TO SUSTAINABLE DIVIDEND PLUS GROWTH COMPANY AND INCREASE TO 2013

More information

Important Important Notice

Important Important Notice ROSNEFT Strategic Alliance with BP January 2011 Important Notice The information contained herein has been prepared by the Company. The opinions presented herein are based on general information gathered

More information

Potentiality of carbon dioxide geological storage in Morocco. Cooperation with Iberian countries

Potentiality of carbon dioxide geological storage in Morocco. Cooperation with Iberian countries Potentiality of carbon dioxide geological storage in Morocco. Cooperation with Iberian countries R Martinez IGME 8 h CO 2 GeoNet Open Forum, April 9 11, 2013 Venice, San Servolo Island Integrated infrastructure

More information

THE ZAMZAMA GAS FIELD PAKISTAN

THE ZAMZAMA GAS FIELD PAKISTAN THE ZAMZAMA GAS FIELD PAKISTAN March 2002 Summary BHP Billiton has approved the first phase of the Zamzama gas field development, situated in the Sindh province of southern Pakistan. Phase I will commercialise

More information