Oilbarrel Conference www.petroceltic.com 12 th May 2009 Oilbarrel 12 th May 2009
Forward looking statements This presentation may contain forward-looking statements and information that both represents management’s current expectations or beliefs concerning future events and t t’ t t ti b li f i f t t d are subject to known and unknown risks and uncertainties. A number of factors could cause actual results, performance or events to differ materially from those expressed or implied by these forward-looking statements. f th d i li d b th f d l ki t t t Oilbarrel 12 th May 2009 Slide 1 Slide 1
Outline • Company Overview • Algeria Isarene Block g • Italy • Tunisia • Funding • Conclusions Oilbarrel 12 th May 2009 Slide 2
Company background and strategy Background • Founded in 2002 and quoted on AIM and ISE q • 25 full time employees supported by a network of over fifty experienced consultants • Operated assets in Algeria, Italy and Tunisia • Headquartered in Dublin, Ireland with offices in Rome, Italy and Algiers, Algeria Strategy • Maghreb/ Southern Europe Exploration focus • Low cost drilling close to infrastructure, Operatorship preferred • High initial equity with operator status preferred • Early stage work programmes funded internally or by farming out • Longer term growth through Acquisition / Merger and drillbit success Oilbarrel 12 th May 2009 Slide 3
S enior Management Team Andrew Bostock Non-Executive Chairman Mr Bostock is a Petroleum Engineer with over 20 years experience in upstream oil and gas. He began his career with Shell International, and progressed through increasingly senior technical and commercial roles in a number of independent oil and gas companies, including Enterprise Oil, Talisman Energy and Venture Production. He was appointed to the Board of Dana in 2001. He is currently Chairman of Purepower Group Limited, a privately owned renewable energy company. Brian O’Cathain Chief Executive M O’C th i Mr O’Cathain is a geologist and petroleum engineer with 25 years’ experience in senior technical and commercial roles in i l i t d t l i ith 25 ’ i i i t h i l d i l l i upstream oil and gas exploration and production companies, including Shell International, Enterprise Oil and Tullow Oil plc. He has experience in working in West Africa, North Africa, onshore Europe, the North Sea, the gulf of Mexico, South Asia and offshore Ireland. He was formerly Chief Executive of AIM-listed Afren plc. Alan McGettigan g Finance Director Mr McGettigan has over twenty years of experience in upstream oil and gas. Prior to joining Petroceltic, he worked for BG International where he held senior roles in Commercial and Group Business Development. His other experience includes roles at Shell International and BP as well as four years as a management consultant at McKinsey & Company. Oilbarrel 12 th May 2009 Slide 4
Organisation Chief Executive Brian O'Cathain Head of Operations GM Algeria GM Italy Finance Director Head of Exploration Head of Engineering Dave Scott David Slaven Pasquale Quatrone Alan McGettigan Dermot Corcoran Fabrice Toussaint Algeria Operations Al i O ti Algiers Office Al i Offi Rome Office R Offi Legal Advisor L l Ad i S b S Sub Surface Evaluation f E l ti Offi Office Management M t Group Financial Controller See Hassi Chart See Algiers Chart See Rome Chart Hind Yassine Sarah Sweeney Richard Baker Ann O'Brien Bernard Andre Rick Ogloff Admin. Support Accountant Joe English Emilie Roger Virginie Carrier Kara English Pascale Giordano Dublin Dublin Finance Mgr Algiers SubSurface Algiers Hassi See Algiers Chart See Algiers Chart Algiers Finance Mgr Rome Wellsite Geology See Rome Chart See Hassi Chart Rome London Wellsite Oilbarrel 12 th May 2009 Slide 5
Technical Team Dermot Corcoran –Head of Exploration Geophysicist. Dermot holds a B.Sc. in Geology and an M.Sc in Applied Geophysics from the University of Galway, and a Ph.D from Trinity College Dublin, with international experience with Exxon, Fina, Statoil, Amerada Hess and Enterprise Oil. Fabrice Toussaint – Head of Petroleum Engineering Fabrice Toussaint Head of Petroleum Engineering Petroleum Engineer with 17 years International experience, Ex-GM Congo for Perenco, Mauritania for Woodside. Ex Elf, Perenco, Tullow, Woodside., worked in Mauritania, Congo, Cote d’Ivoire, Colombia, France & Tunisia. Richard Baker – Geophysics Consultant Geophysicist with over 40 years of Experience in International Operations. Worked with Burmah, Unocal, Dana & JKX. Bernard Andre – Geophysics Consultant Bernard Andre – Geophysics Consultant Over 30 years of experience with Exxon, Total, Repsol and Petronas. Bernard is an experienced Geophysicist with world wide experience, and detailed knowledge of Algeria and Gabon. Rick Ogloff- Exploration Team Leader Italy 18 years International Experience Geophysicist, with Encana, Veritas, Gaffney Cline Associates Joe English – Senior Geologist Joe holds a B.Sc from Trinity College Dublin, and a Ph.D. From the University of Victoria in Canada. He formerly worked with Encana and Nexen in Canada. Kara English – Operations Geologist Kara joined Petroceltic from Encana, where she had 4 years of Operational Geology experience Oilbarrel 12 th May 2009 Slide 6
Operations & Finance Team Dave Scott - Head of Operations Ex COO Regal Oil, Head of Operations Burlington, Drilling Manager Italy for Enterprise Oil. Experienced drilling and Production Operations Manager, drilling experience in Italy (Onshore & Offshore) & Algeria. David Slaven David Slaven – GM Algeria GM Algeria David was formerly GM Algeria for Burlington Resources and LLE, and prior to that was Finance Manager Algeria for LLE, Anadarko, and El Paso. He has worked in Algeria from the early 1980s. Hassan Yassine – Legal Advisor, Algeria Hassan was formerly head of Legal at Sonatrach Pasquale Quattrone – GM Italy Q G Experienced ex-ENI Explorationist. Extensive experience onshore & offshore Italy and North Africa. Ex-GM Italy for JKX. Tony Engleton – Drilling Supervisor Former Drilling Manager for Ascent (Italy & Hungary). Drilling Manager at Burlington Resources. Extensive offshore drilling experience in Italy, North Sea and Denmark for Maersk, Shell International & Enterprise. Lance Robinson– Senior Drilling Engineer Onshore & offshore drilling experience with BP, Burlington, Hardy, Ranger, Amoco and Enterprise Oil. Worked in UKCS, Algeria, Italy, Australia, Azerbaijan, and Kazakhstan. Mustapha Zemiti – Operational Support Over 30 years experience in Sonatrach Drilling group Former Head of Well Services in Sonatrach Over 30 years experience in Sonatrach Drilling group. Former Head of Well Services in Sonatrach. Sarah Sweeney – Group Financial Controller Sarah is a Chartered Accountant who trained with KPMG in Dublin and subsequently worked with an Australian public listed company before joining Petroceltic. Brahim Zanoun – Finance & Administration Manager Accountant formerly head of Administration and Accounting in Sonatrach’s well services division Accountant, formerly head of Administration and Accounting in Sonatrach s well services division Oilbarrel 12 th May 2009 Slide 7
Development of Natural Gas Supplies in the EU 590-640 560-605 Billion m ³ 525-560 10% 23% supply gap 9% 478 478 12% 12% 7% 13% 11% advanced projects 11% 11% 9% 10% other non-EU imports* 8% 24% 24% n U Production Al Algeria i 7% 7% 22% 21% 15% 20% Russia 14% 6% 12% 4% 4% EU 9% 10% Norway 8% 5% other internal EU trade Netherlands 28% 21% 19% 17% indigenous production for domestic use 2 0 0 5 2 0 1 0 2 0 1 5 2 0 2 0 LNG-share (in imports) 10% 20% 20% 22% * of which: Nigeria 3%, Qatar 3% Basis for imports: Contracted volumes and prospective contract prolongations Russia without volumes via North European Gas Pipeline (NEGP) which are included in advanced projects Source: Eurogas Oilbarrel 12 th May 2009
Proved Gas Reserves, Algeria & Comparisons 200 F 2007 180 180 Reserves TCF 187 160 159 140 Proven R 120 100 105 100 80 60 73 40 53 20 20 0 Algeria Egypt Libya Nigeria EU Norway S ource: BP S t at ist ical Review of World Energy 2008 Oilbarrel 12 th May 2009 Slide 9
Petroceltic : North African Assets Oilbarrel 12 th May 2009 Slide 10
Ordovician Basins of Middle East / North Africa Oilbarrel 12 th May 2009 2008 ource: IHS S
Isarene Drilling History 4 Appraisal wells in italics Dry Shows Shows Oil French exploration Gas 3 s Number of wells TXB-1 Petroceltic Sonatrach exploration Repsol appraisal Appraisal 2 N-1 N 1 -1 TXAN 2 NCL-2 ISAS- TTY- NCL-1 TXA-1 1 bis T-2 -1 1 HTTN-1 HTT- TSI-1b TMZ- CLR-1 GTT-1 INW-1 HTT-1 GTT-2 INE-1 IR-1 0 8 0 2 4 6 8 0 2 4 6 8 0 2 4 6 8 0 2 4 6 8 0 2 4 6 5 6 6 6 6 6 7 7 7 7 7 8 8 8 8 8 9 9 9 9 9 0 0 0 0 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 Year Source: Sonatrach, Petroceltic analysis Oilbarrel 12 th May 2009 Slide 12
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