Lucent Oil and Gas (Cyprus) Ltd

Transcription

1 Lucent Oil and Gas (Cyprus) Ltd February 2017 Contact: Investment Opportunity Proven Oil (6-12mmbbls) with Heritage wells & Large Exploration Target 1000m Deeper.

2 Disclaimer This presentation ( the Proposal ) has been prepared by Lucent Petroleum LLP. ( the Company ) and is being distributed for information purposes only, to those parties who have an interest in making an investment in the Company ( you or the Recipient ) and may not be relied upon for the purposes of any transaction. The Proposal is not intended to form the basis of any decision to make such an offer, or the basis or part of any contract, and does not constitute an offer or invitation for the sale or purchase of all or any part of the capital or assets of the Company. The information relating to the Company and its business and assets contained in the Proposal is the management s view of the state of affairs of the Company, performance of its assets, and the future outlook. However, the Proposal does not purport to provide a complete and fully accurate description of the matters to which it relates. No warranty, representations or undertaking, expressed or implied, is or will be made in, or in relation to, and no responsibility or liability (including, without limitation, any liability in negligence) is or will be accepted by the Company and or its management, directors, employees, agents and/or advisers (hereinafter the Company s connected persons ) for, or in relation to, the Proposal or accuracy or completeness of the information contained therein or any other information, whether written or oral, made available to any interested party or its advisers and any liability therefore is hereby expressly disclaimed. In particular, but without prejudice to the foregoing, no representation or warranty is given as to any of the opinions, or as to the achievement or reasonableness of any future projections, actions, plans, or estimates, contained in the Proposal. Any Recipient will be required, in the event that it enters into legally binding documentation regarding an investment in the Company, to acknowledge that it has not relied on or been induced to enter into such investment by the Proposal or by any other representation or statement. The Proposal has been delivered to the Recipients for information purposes only and upon the express understanding that such parties will use it only for the purposes set forth above. By accepting a copy of the Proposal, you hereby agree, upon request, to return promptly all material received in connection with any proposed transaction (including the Proposal) without retaining any copies, and not to reproduce, pass on, or otherwise divulge all or part of the contents of this Proposal or any other person, directly or indirectly, (excluding your professional advisers) without the prior written consent of the Company. Nothing in the Proposal is, or shall be relied on, as a promise or representation as to the future. In furnishing copies of the Proposal, neither the Company nor any of their representative connected persons undertakes any obligation to provide the Recipients with access to any additional information or to update the Proposal or to correct inaccuracies herein which may become apparent. The Company reserves the right, without advanced notice, to change or terminate procedures for the making of investment in the Company, or to terminate negotiations at any time prior to the signing of a binding letter of subscription, without further explanation. The Proposal is not directed to, or intended for distribution, directly or indirectly, to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration, licensing, or the publishing of a prospectus within such jurisdiction. The Presentation is directed solely at investment professionals (as defined in Article 19(5) of the Financial Markets and Services Act 2000 (Financial Promotion)Order 2005 ( FPO )) and persons of a kind specified in Article 49(2) a-d of the FPO (high net worth entities, unincorporated associations, etc). Neither the receipt by any person of the Presentation nor any information supplied in connection with the proposed investment in the Company is, or is to be taken as, constituting the giving of investment, financial, taxation or legal advice by the Company. The Recipients of the Presentation should inform themselves about and observe any applicable legal requirements in relation to the receipt of this Presentation. Any Recipient is recommended to seek their own financial and legal advice and must make their own independent assessment of the Company. You hereby acknowledge that you are aware of the risks of investing generally and in particular (without limitation) that in emerging markets, such as Kazakhstan, business risks are far greater than in more developed markets (including significant legal, economic, and political risks). You acknowledge the high number of expenses and difficulties frequently encountered by companies, such as the Company, in the early stages of development, particularly companies operating in emerging markets and you should be aware that these and/or other factors, or a combination thereof, may lead to the loss of your entire investment

3 Lucent Summary Privately owned company 100% of mature Sub-soil User Contract in west Kazakhstan covering 1341 km2 2 oil & gas fields at appraisal stage Contingent Resources of 155 mmboe Lebyazhye 27mmboe Munaibai 128 mmboe Munaibai appraisal drilling 2017 Expansion of contract area to follow successful appraisal Seeking investment for Early Production project on Lebyazhye field

4 Early Production Opportunity Lebyazhye Field (ca. 6-12mmbbls) Requires appraisal for horizontal development Stage 1 Pilot production of bopd from re-entry of existing wells - $7.7m Stage 2 Horizontal appraisal bopd - $11.4m Underlying Carboniferous potential mmbbls - $6m Farm-in Proposal The company is currently seeking staged investment for Lebyazhye Field Appraisal and Development, up to 50% stake in Lebyazhye is available. Stage 1 - $8m re-entry programme for 4 wells with production facilities in 2017 Stage 2 - $11.4m for two horizontal side-tracks in 2018 Stage 3 - $6m well deepening to test large Bashkirian Reef prospect in 2019

5 Lebyazhye Appraisal Programme Top F15 Depth Stage 1 A total of five abandoned heritage wells have been drilled on Lebyazhye. A sixth well, L-14x (photo below) is suspended.. Lucent plans to re-enter three old wells, to establish early oil production from Triassic F15 reservoir sands. Target production from the re-entry programme is bopd. Stage 2 Latest mapping indicates potential fracture compartmentalisation of the reservoir. Well J-13 (aka L-13) is planned for sidetracking in depending of the outcome another well will be sidetracked. Target field production from Stages 1 & 2 is bopd Trial/Test Industrial Production allows for two years of production and sales to the domestic market. Recent increase in the domestic prices have made the appraisal of Lebyazhye more attractive and documentation is in place to start end 2017 L-14X Testing 2015

6 Lebyazhye Bashkirian Reef Prospect Stage 3 L-14X Deepening Top Bashkirian Depth Prospective Volumes L-14X North Reef system ~ 35mmbbls Can be tested by deepening Lebyazhye wells Cost of deepening L-14X = $5-6m South Reef system ~ 115mmbbls Key Geological risk breaching b hi off Moscovian M i Seal S l Chance of Success ~ 33% Highly positive EMV if tested by deepening L-14x Major regional exploration target Poorly tested in 1980 s wells are down-dip, off structure massive mud losses while drilling short minute tests recovered gas and large volumes of mud potentially excellent permeability Interpreted as associated gas Shallow Well Deep Well Oblast Boundary

7 Munaibai Appraisal 2017 East Munaibai Discovered in m hydrocarbon column 3D seismic reprocessed 2012 Contingent Resources Reserves re-determination expected after current well. Well LP-3 spuds April 2017 Extension of Contract Area Q appraisal wells in planning for 2018 Pilot Production 2019 Deeper Carboniferous and Devonian potential Rigging up ZJ70 (Feb 2017) LP-3 Cellar and Conductor Pipe (Jan 2017)

8 Contact Information Registered office: Lucent Oil & Gas (Cyprus) Ltd. 58 Ifigenias Street City Home 53 Office 201 Strovolos 2003 Nicosia, Cyprus Almaty office: Lucent Petroleum LLP Vision Energy Services LLP Esentai Tower, 14th floor, 77/7 Al-Farabi Avenue, Almaty, , Republic of Kazakhstan Tel: Fax: