Viking Energy Presentation

5/26/2018 Viking Energy Presentation

1/8

STRICTLY PRIVATE AND CONFIDENTIAL

CORPORATE PRESENTATION

August 2012

ENERGY HOLDINGS 2 LTD.


2/8


Viking Energy HoldingsCorporate Overview

2

Viking Energy Private oil and gas E&P company focusing on development and monetization of marginal

offshore oil fields in Africa and Asia with low risk step out exploration upside.

Operating gross 2P reserves of c.25+ mmbbl in Tunisia and the Philippines.

Target production of 30,000 bbl/d in the next 12-15 months.

Focus on highly cash generative assets.

Management team has significant experience in the oil and gas industry and offshore oil fieldsdevelopments worldwide.

Significant pipeline of asset acquisition opportunities being negotiated in Tunisia, Nigeria, the

Philippines and Australia with 30+ mmbbl of additional recoverable reserves.

Industry consolidation opportunity with Small Cap E&P companies in South-East Asia andAustralia seeking turnkey development solutions from a financial, technical and operationalperspective.

UPSTREAM OIL AND GAS VALUE CHAIN

DISCOVER FIRM-UP UNLOCK MONETIZE

EXPLORATION APPRAISAL DEVELOPMENT

Low risk / high impactprospects adjacent to 2Preserves.

Offshore discoveries withhigh potential.

Development opportunitiesrequiring cost-effective floatingsolutions.

Operate development assets whenthey reach production stage.

VIKING ENERGYS CORE BUSINESS

PRODUCTION


3/8


Viking Energy HoldingsCurrent Asset Base

3

Current Asset Base:

Block / Field Country Water Depth Gross 2P Prod. At First Oil Viking W.I. Development Solution

Isis Concession Tunisia 73-77 m 9.1 mmbbl 10,000 bbl/d 80% FPSO

SC-6 (Cadlao) Philippines 18 m 6.0 mmbbl 11-14,000 bbl/d 40% MOPU (jack-up) + FSO

SC-54A Philippines 80-100 m 6.0 mmbbl 10,000 bbl/d 60% MOPU (semi-sub.) + FSO

SC-50 (Calauit) Philippines 100 m 5.5 mmbbl 10,000 bbl/d 70% Being Evaluated

Viking Energy has a portfolio of shallow waters offshore field developments that will be un-locked using cost-effective offshore facilities (FPSOs or MOPUs tied to FSOs).

The Isis Field and the Cadlao Field will be brought into production in Q2-Q3 2013 following fast-tracked re-developments using dry-tree completions (reduced lead time).

The development plans for SC-54A and SC-50 (Calauit) are currently being optimized in order to reduce risksand maximize resource recovery.

Farm-in documentation currently being finalized.


4/8


Top Structure Map & New Wells Trajectories: Gross Production Data:

Viking E&P TunisiaIsis Concession Project Overview

4

Development Concept: Field Characteristics & Development Plan:

Discovered in 1974 by Total in 77 meters of water.Fractured carbonate reservoir with STOIIP of 71 mmbbl.

Initial development from 2001 to 2006 by Coparex /

Lundin. 3 horizontal wells produced 7.5 mmbbl.

Remaining 2P reserves of 9.1 mmbbl (Senergy) and lowrisk prospect to the NE of the Concession with 3.0 mmbblof prospective resources.

Viking Energy (80%)Operator. Remaining 20% held byETAP (Tunisian NOC).

Wells to be tied back to 2 WHPs linked to a FPSO. TotalCAPEX to first oil of c.US$110 million.

barrels

perday

Isis-11

Isis-10

Isis-12

Isis-13

WHP + Dry Trees Turret Moored FPSO

Flowlines + PLEM

4 new horizontal development wells drilled in 2 Phases.

0

2,000

4,000

6,000

8,000

10,000

12,000

Jul-13

Oct-13

Jan-14

Apr-14

Jul-14

Oct-14

Jan-15

Apr-15

Jul-15

Oct-15

Jan-16

Apr-16

Jul-16

Oct-16

Jan-17

Apr-17

Jul-17

Oct-17

Jan-18

Apr-18

First Oil in Q3 2013 at10,000 bbl/d. Light and

sweet crude (36API and0.258% of sulphur).

Phase 6-12 months afterfirst oil.


5/8


Top Structure Map & New Wells Surface Location: Gross Production Data:

Viking Energy PhilippinesSC-6 Cadlao - Project Overview

5

Development Concept: Field Characteristics & Development Plan:

Discovered in 1977 by Amoco in 18-90 meters of water.Fractured carbonate reservoir with STOIIP of 40 mmbbl.

Initial development from 1981 to 1991 by Amoco. 2 vertical

wells produced 11.0 mmbbl.

Remaining 2P reserves of 6.0 mmbbl (GCA).

CADCO (80%)Operator (50% owned by Viking Energy).Remaining 20% held by VenturOil.

Re-development with 4 new deviated wells drilled in 2Phases tied back to a jack-up MOPU and a FSO mooredto a CALM Buoy. Total CAPEX to first oil of US$50 million.

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

0

2,000

4,000

6,000

8,000

10,000

12,000

Apr-13

Oct-13

Apr-14

Oct-14

Apr-15

Oct-15

Apr-16

Oct-16

Apr-17

Oct-17

Apr-18

Oct-18

Apr-19

Oct-19

Apr-20

Oct-20

Apr-21

Oct-21

Apr-22

Oct-22

Apr-23

Oct-23

2P Production 2P Cumulated Production

OilProductioninbbl/d

First Oil in June 2013 at 14,000bbl/d. Very light crude (47APIand 0.520% of sulphur).Phase 6 months after first oil

Jack-up MOPU

Submarine Hose

PLEM

CALM Buoy FSO


6/8


Overview of Block: Gross Production Data:

Viking Energy PhilippinesSC-54A - Project Overview

6

Resource Base & Development Concept: Field Characteristics & Development Plan:

Viking Energy (60%)Operator. Other licence holdersinclude Nido Petroleum, Kairiki Energy, Trafigura, and TGWorld.

3 offshore discoveries located in 90-100 meters of water(Tindalo, Yakal and Nido 1X1).

Recoverable resources of 5-6 mmbbl and low risk step-out exploration upside in the Nandino prospect (3-4mmbbl of prospective resources).

Extended well test in Tindalo (cumulative production of250,000 bbl and high flow rates achieved).

-

5,000

10,000

15,000

20,000

25,000

30,000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

barrels

perday

Tindalo

YakalNido

1X1

Development of the SC-54A Block in 2 Phases:

- Tindalo and Yakal to be brought in production from 2horizontal wells; and

- Nido 1X1 expected to follow after 6-9 months ofproduction.

The Nadino prospect may be drilled as part of Phase 2.

Fields developed with subsea wells tied to a semi-submersible MOPU and a FSO moored to a FSO.

First oil expected in 15-18 months at 20,000+ bbl/d. TotalCAPEX to first oil estimated at US$50 million.

Months


7/8STRICTLY PRIVATE AND CONFIDENTIAL

Viking Energy HoldingsProject Execution Team Profile

7

Russ GuyattProject Manager / Isis ConcessionReservoir engineer with 30+ years of experience in the oil and gas industry. Started his career at BG Group as PetroleumEngineer. Held senior positions with Ranger Oil / CNR such as Reservoir Engineering Manager in charge of all reservoirengineering activities of the company, Project Manager of the Kiame oil field (offshore Angola), the Kyle oil field (offshoreUK) and the Baobab oil field (offshore Cote dIvoire). Previously VP Engineering of PanOcean Energy (Etame oil fielddevelopment offshore Gabon) and VP Technical of Equator Exploration.

Miltos XynogalasHead of GeosciencesGeoscientist with 20+ years of experience in the oil and gas industry.Previously geoscience specialist with Premier Oil in Indonesia, India and West Africa (seismic acquisition andinterpretation). Held senior geophysicist positions with Shell in Malaysia (Quantitative Interpretation Geophysicist) and inNigeria (Principal Geophysicist). Recently VP for Exploration and Production with Transworld Oil.

Ian RipleyProject Manager / SC-6 (Cadlao) & SC-54A

Chemical and structural engineer with 30+ years of experience in oil and gas project management with oil companies(Woodside, Oxy, Apache, Daewoo and Talisman) and large services companies (Amec and Clough). Mr Ripley has anextensive experience in offshore project developments and re-developments in Australia (Goodwyn, Stag, Devil Creek),UK North Sea (Brent),Thailand (West Seno), Myanmar (Shwe), and Vietnam (HST/D) involving fixed and floating offshoreproduction facilities and budgets of US$1+ billion.


8/8STRICTLY PRIVATE AND CONFIDENTIAL

Viking Energy HoldingsContact Details

8

Conrad ClausonExecutive ChairmanEmail: [email protected]

Edouard EtienvreCommercial DirectorEmail: [email protected]
mailto:[email protected]:[email protected]:[email protected]:[email protected]

Viking Energy Presentation

Documents

Transcript of Viking Energy Presentation