Lucent Oil and Gas (Cyprus) Ltd February 2017 Contact: dmd@visoil.com Investment Opportunity Proven Oil (6-12mmbbls) with Heritage wells & Large Exploration Target 1000m Deeper.
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. 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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
Early Production Opportunity Lebyazhye Field (ca. 6-12mmbbls) Requires appraisal for horizontal development Stage 1 Pilot production of 300-500bopd from re-entry of existing wells - $7.7m Stage 2 Horizontal appraisal +300-500bopd - $11.4m Underlying Carboniferous potential 35-180 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
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 300-500 bopd. Stage 2 Latest mapping indicates potential fracture compartmentalisation of the reservoir. Well J-13 (aka L-13) is planned for sidetracking in 2018. depending of the outcome another well will be sidetracked. Target field production from Stages 1 & 2 is 700-1000bopd 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
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 40-60 minute tests recovered gas and large volumes of mud potentially excellent permeability Interpreted as associated gas Shallow Well Deep Well Oblast Boundary
Munaibai Appraisal 2017 East Munaibai Discovered in 2009-500m 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 Q4 2017 2 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)
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, 050040, Republic of Kazakhstan Email: info@visoil.com Tel: +77272777852 Fax: +77272777851