Valeura Energy Inc. · TSX:VLE

Valeura Energy — FirstEnergy Global Energy Conference 2012

17 slides from Valeura Energy's conference presentation, May 17, 2012

  1. Slide 1: Building Momentum in Turkey – FirstEnergy Global Energy Conference

    A GLOBAL ENERGY COMPANY FOCUSED ON EXCEPTIONAL VALUE CREATION BUILDING MOMENTUM IN TURKEY FIRSTENERGY GLOBAL ENERGY CONFERENCE May 17, 2012 Toronto

  2. Slide 2: Disclaimer/Forward Looking Information

    Disclaimer/Forward Looking Information Certain information contained herein constitutes forward‐looking information under applicable securities legislation. Such forward‐looking information is provided for the purpose of providing information about management's current expectations and plans relatin

  3. Slide 3: Corporate Profile

    Corporate Profile  Valeura Energy Inc. (VLE – TSX) Canada‐based oil and gas E&P company with assets in Turkey and Western Canada  Executed six transactions in Turkey since September 2010 & invested $86 MM: − Acquired interests in 22 leases & licences: 2.1 MM acres (gross); 0.75 MM acres (net)  Co

  4. Slide 4: Capital Structure May 14, 2012

    Capital Structure May 14, 2012 Basic shares outstanding at May 14, 2012 46,406,135 Common shares purchasable pursuant to: Financial warrants outstanding ($5.50 exercise price per share) 13,269,217 Performance warrants outstanding ($2.00 wt’d average exercise price per share) 2,796,750 Options outsta

  5. Slide 5: Why Turkey?

    Why Turkey? Prospective TBNG‐PTI  Proven petroleum systems TBNG‐PTI acquisition Acquisition  Under‐explored & under‐exploited conventional (natural gas & light/heavy oil) opportunity & unconventional plays  Opportunity to deploy modern technology  Anatolian Basin main oil producing region in Zag

  6. Slide 6: Thrace Basin Transactions

    Thrace Basin Transactions Bulgaria Otto asset purchase 3839 (35% WI) TBNG‐PTI asset purchase Licences 4322, 4323, 4324, GYP Asset Turkey (40% onshore; purchase 4459 & 4460 expected to (24% WI) 15% shallow offshore) be relinquished prior to 4187 3659 Mar ‘12 2926 3999 3861 3998 Greece 3734 3860 4126

  7. Slide 7: TBNG-PTI Shallow Gas Business

    TBNG‐PTI Shallow Gas Business Kazanci/ Hayrabolu Osmanli Kilavuzlu/ Bekirler Karaevli Tatarli Kayi Yagci/ Nustratli Gazi Aydede Tekirdag 10 km 10 km  1Q2012 production 20.1 MMcf/d (gross) or 8.1 MMcf/d (net): Cumulative Proved + Probable − Average wellhead price $7.81/Mcf in 1Q2012 Field Production

  8. Slide 8: Tight Gas Play in the Mezardere Formation

    Tight Gas Play in the Mezardere Formation MEZARDERE FORMATION PARAMETER LOW HIGH A A’ Depth (m) 1,000 3,500 Aydede‐1 Yagci‐8 BTD‐1 BTD‐2 DTD‐3 DTD‐7 DTD‐9 Kuzey Kayi‐1 Gross H (m) 500 2,500 Gross sand H (m) 240 900 Net pay H (m) 32 120 Ф (%) 3 15 DTD‐7,9 K (md) 0 2 Frac’d Mezardere Perforations TOC

  9. Slide 9: Tight Gas Proof-Of-Concept Program Phases

    Tight Gas Proof‐Of‐Concept Program Phases 1. Recompletion fracs (750‐2,000 m depth) − Identify zones which are gas bearing in Mezardere that require fracs to achieve commercial rates focusing initially on areas within structural closure − 18 well re‐entry fracs completed in 2nd half of 2011 (eight)

  10. Slide 10: Teslimkoy Sand Frac Results & Projections

    Teslimkoy Sand Frac Results & Projections Results to Date (1) Internal Planning Projections (3) PARAMETER RANGE AVERAGE PARAMETER VALUE ESTIMATED ULTIMATE 1.4 – 2.0 RECOVERY PER WELL – Bcf FRAC SIZE ‐ k# sand 6 ‐ 77 35 ESTIMATED NUMBER OF 4‐7 FRAC’D INTERVALS NET PAY ‐ m 4 ‐ 13 7.8 INITIAL RATE PER

  11. Slide 11: TBNG-PTI Planned Drilling First Half 2012

    TBNG‐PTI Planned Drilling First Half 2012 (1) SPUD RIG RELEASE TD WELL LICENCE WELL TYPE STATUS (d/m/y) (d/m/y) (m) Baglik‐1 3931 10/03/2012 06/05/2012 Exploration 3,594 Cased Dogu Karya‐1 3934 04/04/2012 23/04/2012 Exploration 2,022 Cased TSK‐1 3931 05/04/2012 10/04/2012 Exploration 657 Cased Guney

  12. Slide 12: Turkey Year-End 2011 Reserves (Company Gross)

    Turkey Year‐End 2011 Reserves (Company Gross) (1)(2) TOTAL OIL RESERVES LIGHT OIL NATURAL GAS PV10 BEFORE TAX (3) EQUIVALENT CATEGORY (Mbbl) (Bcf)) (US$MM) (MBOE) PROVED 1 5.0 842 14.7 PROBABLE 3 5.3 892 23.9 TOTAL PROVED PLUS PROBABLE 4 10.4 1,733 38.5 POSSIBLE 2 4.5 751 19.0 TOTAL PROVED, PROBABLE

  13. Slide 13: Thrace Basin Contingent Resources Assessment

    Thrace Basin Contingent Resources Assessment Contingent Prospects Resources and Leads (5 structures)  D&M assessed contingent resources in five fields on TBNG‐PTI lands as at December 31, 2011  Aggregate area (best estimate) of discovered structural closures 10,982 acres (17 sections) (gross)  Ar

  14. Slide 14: Turkey Year-End 2011 Contingent Resources (Company Gross)

    Turkey Year‐End 2011 Contingent Resources (Company Gross) (1) CONTINGENT RESOURCES (40% WORKING INTEREST) (2) FORMATION/UNIT LOW ESTIMATE BEST ESTIMATE HIGH ESTIMATE MEZARDERE ‐ Bcf 0.2 5.7 18 TESLIMKOY ‐ Bcf 2.2 156 378 TOTAL ‐ Bcf 2.4 162 396 TOTAL ‐ MBOE 401 26,987 65,977 (1) D&M estimates of con

  15. Slide 15: Anatolian Basin Licences

    Anatolian Basin Licences Gaziantep 2677 Licences TURKEY (26% WI) 2674 (Mardin play) Karakilise Licences 4656 (27.5% WI) 4607 (Mardin, Dadas Shale & 4648 Bedinan plays) 4649 100 km SYRIA IRAQ 15

  16. Slide 16: Karakilise Area Licences 2674 & 2677

    Karakilise Area Licences 2674 & 2677 Karakilise‐1 Shell/TPAO Mardin recompletion Joint Venture (currently producing 20‐30 bopd) TransAtlantic Bahar‐1 (drilling) TPAO Ciksor‐3 Perenco (indicated oil discovery) Kastel oil field Altinakar‐1 Mardin Play Fairway EUR: 15 MMbbl (1) deepening (spudded Jan 6

  17. Slide 17: Building Momentum in Turkey – FirstEnergy Global Energy Conference

    A GLOBAL ENERGY COMPANY FOCUSED ON EXCEPTIONAL VALUE CREATION BUILDING MOMENTUM IN TURKEY FIRSTENERGY GLOBAL ENERGY CONFERENCE May 17, 2012 Toronto

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