Permian Basin, TX ‘38 SE Basin, Turkey ‘09 Applying old lessons to new frontiers August 10, ‘09 Exhibit 99.1 |
Disclaimer 2 Forward-Looking Statements Outlooks, projections, estimates, targets, and business plans in this presentation or any related subsequent discussions are forward-looking statements. Actual future results, including TransAtlantic Petroleum Corp.’s own production growth and mix; financial results; the amount and mix of capital expenditures; resource additions and recoveries; finding and development costs; project and drilling plans, timing, costs, and capacities; revenue enhancements and cost efficiencies; industry margins; margin enhancements and integration benefits; and the impact of technology could differ materially due to a number of factors. These include changes in long-term oil or gas prices or other market conditions affecting the oil, gas, and petrochemical industries; reservoir performance; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation; the outcome of commercial negotiations; the actions of competitors; unexpected technological developments; the occurrence and duration of economic recessions; unforeseen technical difficulties; and other factors discussed here and under the heading “Risk Factors" in our 2008 Annual Report on Form 10-K and our March 31, 2009 Form 10-Q available at our website at www.transatlanticpetroleum.com and www.sec.gov. See also TransAtlantic’s 2008 audited financial statements and the accompanying management discussion and analysis. Forward-looking statements are based on management’s knowledge and reasonable expectations on the date hereof, and we assume no duty to update these statements as of any future date. The information set forth in this presentation does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities of the Company. The information published herein is provided for informational purposes only. The Company makes no representation that the information and opinions expressed herein are accurate, complete or current. The information contained herein is current as of the date hereof, but may become outdated or subsequently may change. Nothing contained herein constitutes financial, legal, tax, or other advice. Barrels of oil equivalent (boe) may be misleading, particularly if you used in isolation. A boe conversion ratio of six thousand cubic feet (mcf) of natural gas to one barrel of oil is based on an energy equivalent conversion method primarily applicable at the burner tip and does not represent a value equivalent at the wellhead. |
rd rd Introduction 3 May08 Dec08 Mar09 Jul09 Apr08 Dec08 Malone Mitchell 3 Chairman Executives Matthew McCann CEO Scott Larsen President Hilda Kouvelis VP, CFO Jeff Mecom VP, Legal Focus countries Turkey Morocco Romania Key statistics (as of 8/5/09) Exchange Toronto Ticker TNP Auditor KPMG $/share (CDN) $2.60 52 week range (CDN) $0.68 - $3.19 Average daily volume 147,428 Market capitalization (CDN) $675.9mm Ownership includes Mitchell Group & associates Mr. Mitchell does not have voting or investment control over shares held by associates (1) – Represents cumulative ownership based on common shares outstanding Today Description Shares $ / Share Investment (CDN) Ownership % (1) Stage I 10,000,000 0.30 $ 3,000,000 $ 18.8% Stage II 25,000,000 0.36 9,000,000 44.7% Stage III 75,000,000 1.28 96,264,000 51.9% Stage IV 41,818,000 1.65 68,999,700 59.9% 151,818,000 1.17 $ 177,263,700 $ Investment / Ownership Stage I private placement – Mitchell Group delivers capital, management, and technical expertise. Mr. Malone Mitchell 3 is appointed Director. Stage II private placement – Mr. Mitchell and former Riata Energy executive Mr. Matthew McCann is appointed Chairman and elected Director, respectively Acquired Longe Energy Limited, which represented $47.5mm of rigs & equipment. Mitchell Group invested an additional $42.5mm to support TransAtlantic’s drilling program Mr. Matthew McCann is appointed CEO Acquired Incremental Petroleum Acquired Energy Operations Turkey, LLC (“EOT”) TransAtlantic Petroleum (TSX: TNP), a vertically integrated, international exploration & production company focused on Turkey, Morocco, and Romania |
rd A Best-In-Class Operator Wells Drilled CAGR +49.5% Net Pinon Production CAGR +38.4% 23 115 Pinon Field Wells Drilled EBITDA CAGR +72.2% $92.6 ‘85 ‘91 ‘94 ‘08 ‘06 Malone Mitchell 3 founded Riata Energy with $500 Acquired interest in Pakenham Field (West Texas) (1) After drilling 34 wells, sold Pakenham Field to Chevron for $97mm Purchased >200,000 prospective acres in Pinon Field Riata expanded its service business and increased drilling activity to become the largest privately-held drilling company in the U.S., with industry leading F&D costs due to vertical integration success From ’85–’06, Mr. Mitchell built Riata into one of the largest privately-held energy companies in the U.S. In ‘06, Mr. Mitchell sold controlling stake to Chesapeake (NYSE: CHK) Co-Founder for $500mm. Riata is renamed SandRidge (NYSE: SD). Mr. Mitchell & Family sold an additional $500mm stake in SandRidge (NYSE: SD) ’99 –‘06 ‘95 EBITDA Revs Pinon Field Annual MMcf 4 WTI 5-yr. trailing avg. $/bbl WTI $/bbl (1) – From ’85-’91, Riata purchased and sold numerous small properties EOT USD in mm Pinon Field Survived and Thrived In Many Cycles |
The Case For International – Building TransAtlantic (Year 1) 5 Determined that greater, conventional opportunities existed internationally Big, contiguous acreage blocks Good fiscal terms in many cases Opportunity for high rate wells High drilling costs Management/technical team with international experience, who had acquired onshore acreage in Turkey, Morocco, and Romania Target Countries o Large net importers of oil & gas o Under-explored o Known petroleum systems o Good fiscal terms Unfortunately, TransAtlantic faced prohibitively high drilling costs Achieving scale and reproducing Riata’s vertically integrated drilling & services business was key to success o Improve results through use of basic, western technologies (i.e. triplex pumps, PDC bits, stimulation, and 3D seismic) Recap of Year 1 = Execution o Increased acreage position 5-fold o Built out service business o Built out G&G o Acquired producing assets at the right price with tremendous growth potential + + + - + + + + - + + + + Building TransAtlantic |
Vertical Integration – “We’ve Done This Before” 6 Built prior company (Lariat Services) to: $175mm assets $139mm 3 party sales $33mm 3 party net income * Page F38 ‘08 SandRidge Energy (NYSE: SD) Annual Report See appendix for equipment detail We have: Rigs in Turkey and Morocco Trucks to move equipment Equipment to build locations Underbalanced equipment Mud Logging equipment Cementing equipment Seismic equipment rd rd |
Dèjá Vu: The Vertical Integration Shoe Still Fits 3yr Avg F&D Cost ($/Mcfe) Mean: $1.25 Riata was the low cost leader in finding reserves Riata As of 12/31/04 John S. Herold Database 7 Key Takeaways Lower costs / stretches dollars Boosts operational flexibility Profit from 3 party work rd |
8 Key Investment Highlights ASSET Southeast Turkey 100% Interest / Operator 8,700-acre reservoir 1 well per 188 acres, low recovery factor to date 1P & 2P reserves of 11 & 16 mmbls, respectively 34° API Selmo Oil Field (1) OPPORTUNITY Increase net production to over 6,500 BOPD by year end ‘11 Down spacing to 40-acres supports 174 new drillable locations, only 15 of which are evaluated in the current reserve report Northwest Turkey 55% Interest / Operator Over 65,000 net acres 1P & 2P reserves of 4 & 5 bcf, respectively Gas project coming online in 4Q:09 Gas priced at over $8/MCF, BOTAS price index Thrace Gas Field (2) Increase net production to over 12,500 MCF/d by year end ‘11 Shooting 3D on additional acreage Deeper drilling prospects in addition to shallow gas discovered Near Term Production Potential & Exploration Upside Balanced portfolio of high risk / reward and low risk drilling locations (1) - The RPS Reserve Report evaluates existing wells, 12 regular work-overs, 2 side-tracks, 12 new major work-overs, and 15 new in-fill wells. As a result, the majority of ‘10 and ’11 locations are not evaluated in the Report. (2) - The RPS Reserve Report evaluates and includes the 7 existing wells and 1 additional well to be drilled on a structure where another well has already been drilled. As a result, none of the ’10 drilling program locations are evaluated in the Report. Southeast Turkey 50% Interest Over 47,000 net acres EOT (prior license holder) had 2 oil discoveries in ‘08 Arpatepe Affirming Turkey’s oil discoveries from deeper, Paleozoic sandstone formations Initial production rates of 440 and 190 gross BOPD in discovery wells Contains many highly prospective development locations Several significant undrilled field prospects Gross Net Morocco 4,220,413 2,509,979 Turkey 3,492,806 2,675,544 Romania 1,444,353 723,410 CA 19,000 7,980 9,176,572 5,916,913 |
Turkey |
Turkey’s Energy Profile Source: IEA, CIA - The World Fact Book, and IHS Crude Oil Consumption vs. Production 000 BOPD BCF/d Natural Gas Consumption vs. Production 10 EOG Resources Exxon Mobil Chevron ’08 Average BOPD Consumption 696k Production 42k Net Imports 654k ’07 Average BCF/d Consumption 3.54 Production .09 Net Imports 3.45 Area 783,562 km Comparative Area Slightly larger than Texas ‘08 Population 73,914,000 ’08 GDP $794.2 billion Fitch Sovereign BB, with stable outlook Risk Rating ’08 Proved Reserves 0.3 billion bbls / 300 Bcf ‘08 Daily Consumption 696k BOPD / 3.54 BCF/d (1) ‘08 Daily Production 42k BOPD / .09 BCF/d (1) ‘07 Gas Import Partners Russia (75%), Iran (20%) Royalty 12.5% Tax 20% Gas is currently priced at over $8/MCF, BOTAS Oil is sold at world market prices Recent entrants to Turkey: Opportunity: Northern portion of Arabian, Paleozoic Basin Historically, limited drilling below Cretaceous Low risk exploitation High impact exploration Western stimulation techniques (1) Gas figures as of ’07, the latest available 2 |
Turkey Overview TURKEY Salt Basin Apricot Basin Southeast Basin 3D Seismic Iraq Acreage: 3.4 million gross / 2.6 million net Thrace Basin Selmo Bodrum Ankara Istanbul Syria Diyarbakir Turkey’s Drilling History wells ’08 99 wells 11 Historical focus on oil from shallow cretaceous structures has left entire basins and deeper formations unexplored Turkey had minimal work commitments resulting in limited prior exploration and exploration development Historical world oil prices did not foster exploration or innovation Mostly harvesting discoveries from 50 years ago…. Offices Istanbul, Ankara, Bodrum, Diyarbakir, and Selmo Geologists 7 Engineers 9 Total Staff 183 Overview Local Expertise Arpatepe |
Introduction to Selmo Oil Field (100% Interest) 12 Discovered by Mobil in 1964, Selmo is located in southeastern Turkey near the prolific Zagros fold belt, which encompasses the oil fields of Iran and Iraq Formerly owned by Incremental Petroleum Strategy to produce current wells, not develop Workover campaigns successful in arresting natural decline 3D seismic acquired and reprocessed but not interpreted Second largest oil field in Turkey, by cumulative production, and is estimated to have greater than 600 mmbls of oil in place, with ~ 83 mmbls produced to date. API of 34° (1) Last 8 wells averaged 390 BOPD for first 6 months Opportunity to significantly enhance production and reserves by applying enhanced oil recovery technology (water and/or polymer flood) To date 47 wells drilled (average recovery of 1.7mmbls/well, representing 1 well per 188 acres) , 23 are still producing 174 additional locations by down spacing to 40-acre spacing BOPD In months Projected BOPD (1) - Source: RPS Energy Reserve Report, effective 12/31/08 Includes only 15 of the additional 174 locations, assuming 40-acre spacing The RPS Report evaluates existing wells, 12 regular work-overs, 2 side-tracks, 12 new major work-overs, and 15 infill wells. As a result, the majority of ’10 and ’11 locations are not evaluated in the Report. Average = 117 BOPD Major work-overs Infill Well Type Curve PDP Infill BOPD In MMstb 1P 2P 3P Net Reserves(1) 11 16 21 Est. Ultimate Recovery(1) 94 99 104 Post-Tax PV-10 (US $ in mm) (1) 252 $ 382 $ 517 $ |
Selmo Development Plan Kicked Off Jul09 – “Drill Baby Drill” 8,700 acres of drillable structure 3D seismic in hand Increase production to over 6,500 BOPD by year end ‘11 174 additional locations by down spacing to 40-acre spacing Per well operating data: Capex $1.25mm Gross EUR (bbl) 250k– 400k Days to drill 21 Depth (feet) ~ 6,500 Initial production rate 142 BOPD Payout (months) 12 (@ $50 Brent) Planned infill wells ’09 ’10 ’11 5 18 18 Key infrastructure addressed High CO2 gas tested in Hazro Sand (below producing zones) Oil is sold at ~ $7/bbl discount to Brent Zone Feet Description MSD 75 Dolomite MSL 250 Limestone LSD 75 Dolomite Selmo Pay |
14 Thrace Basin (55% Interest) - “3D Is Key” A-2A Well D Zone: 285-300m/bp O Zone: 340-350m / 2.3 mmcf/d EDIRNE Zorlu TNP 55% 2D Zorlu 2D 2009-2010 3D TPAO 2007 3D Outline 3D Prospect 2009-2010 3D License Outline Compressor Station 2.5 5 BOTAS 14” 0 BOTAS 36” 100² km 75² km 150² km 3D Drilled 2009-2010 3D 3D Example - O Zone 3D Example - O Zone A-2A 3839 License - 119,125 gross acres / 65,519 net acres Prolific tertiary gas basin 3D required to identify structure AVO – Amplitude response Multiple zones from 500’ – 5000’ > $8 / MCF - Quick payout and a high ROI Shot 1502 km 3D in ’07 Mapping multiple horizons 100% success on initial 8 prospects 18 more mapped 30-35 total likely on initial shoot ± $0.15/mcf 3D and G&G to define prospects Building 30km gathering and Compression – online Q4:09 2009 - 2010 3D 2007 3D Prospect Drilled BOTAS Pipeline TNP Pipeline Compressor Istanbul |
Thrace Basin Production Begins Q4:09 15 Over 65,000 net acres Increase net production to over 12,500 MCF/d by year end ‘11 Shooting 3D on additional acreage Deeper drilling prospects in addition to shallow gas discovered Per well operating data: Gross Net Capex $700,000 $385,000 BCF 0.5 – 1.5 .28 – .83 Days to drill < 8 Depth (feet) ~ 1,900 IPR (MCF/d) 1,200 – 1,500 ~ 750 Payout (months) 2 – 6 (@ $8 Botas Gas $/MCF) Planned new wells: ‘09 ‘10 ‘11 2 12 12 Future activity: Shoot 100 km – 325 km additional 3D on licenses ( ± 20 - 50 additional prospects) Drill underbalanced to test thin beds not imaged Drill stratigraphic anomalies Expand gathering system Enter joint ventures Projected Net MCF/d New Wells Existing 1P 2P 3P Net Reserves (BCF) 4 5 7 Post-Tax PV-10 (US $ in mm) 24 $ 35 $ 49 $ * Drilling likely to re-commence once production begins, resulting in additional wells drilled in ’09 * 2 2 Note: The RPS Report evaluates and includes the 7 existing wells and 1 additional well to be drilled on a structure where another well has already been drilled. As a result none of the ‘10 drilling program locations are evaluated in the Report. |
TransAtlantic’s Recent Add-On Acquisition Transaction & Company Overview Company Energy Operations Turkey, LLC Purchase Price US $7.75mm, including $1.5mm promissory note payable in 1 year Highlights 50% interest in License 3118 Opportunity Establish third leg of production in Turkey 16 Confirms Turkey’s economic oil discoveries from deeper, Paleozoic sandstone formations Initial production rates of 440 and 190 gross BOPD in discovery wells Contains many highly prospective development locations Several significant undrilled prospects Extensive seismic database Migration of Paleozoic oil updip to Arpatepe area Paleozoic Play Type 1 well planned in 4Q, 2009 Continuing our G&G review We will finalize and provide update to the public in Sep09 st Ambarcik-1 Arpatepe-2 Arpatepe-1 |
Turkey Exploration Upside 17 Thrace Basin Total Basin 4.3mm acres TransAtlantic 212,385 gross acres Concept o Expand success o Interpret deeper formations on existing 3D Status o Active negotiation to increase position o Mapping prospects Salt Basin Total Basin 11.5mm acres TransAtlantic 870,005 gross acres Concept o Drill Thrace Basin-type reservoirs in lightly explored basin Status o Map existing 2D seismic o Recent gas discovery south of the Company’s licenses Apricot Basin Total Basin 1.7mm acres TransAtlantic 857,041 gross acres Concept o Drill Thrace Basin-type reservoirs in unexplored basin Status o Map existing 2D seismic Southeast Basin Total Basin 17.7mm acres TransAtlantic 1.1mm gross acres Concept o Drill Iran/Iraq-type high impact structures o Off-set Paleozoic discoveries o Resource shale play Status o Shooting first seismic over surface structures o Interpreting 2D seismic to identify large structures o Early evaluation |
Morocco |
Morocco’s Energy Profile Source: IEA, CIA - The World Fact Book, and IHS Area 446,550 km Comparative Area Slightly larger than California ‘08 Population 31,352,000 ’08 GDP $90.4 billion Fitch Sovereign BBB with stable outlook Risk Rating ‘08 Proved Reserves 850k bbls / 55 Bcf ‘08 Daily Consumption 188k BOPD ‘08 Daily Production 0.5k BOPD Royalty 10% (oil), 5% (gas) Tax 10-year tax holiday, then 30% Oil is sold at world market prices Gas deregulated for end user sales, regulated if sold to the Moroccan government for power generation Opportunity: Known petroleum systems but only sparsely explored Deeper untested horizons Large acreage base to exploit Vertical integration to improve economics and avoid high mobilization costs Onshore Drilling History – Morocco Is Underexplored 19 Crude Oil Consumption vs. Production Wells 168 105 74 75 14 26 BOPD 0000 ’08 Average BOPD Consumption 188.0k Production 0.5k Net Imports 187.5k 2 |
Morocco 20 Basin Structures (numerous gas fields) Oil Oil Trend Atlantic Ocean TransAtlantic’s Acreage: 4.2 million gross / 2.5 million net East Area Basin Structures Gas Pipeline Thrusted Structures West Area Overview TransAtlantic’s exploration and development acreage is situated along the Rif Thrust Belt, where Africa and Europe are colliding Historical production originated from drilling near surface oil seeps Offices Rabat, Meknes PhD Geologists 3 Engineers 3 Total Staff 72 Meknes Mediterranean Oil fields 3D Rabat Local Expertise Spain Area of recently shot 2D seismic Recent discoveries |
Morocco – Oil Trend 3D Arb Line NW SE Time: Depth Sec. Ft. 900 1200 1500 1800 2000 2400 2600 2900 3200 T T 3D BD SF T Gas pipeline Oil pipeline E D B C H Oil fields Gas fields C Prospect C Prospect (A) U J Zone Producing Zone H Field L J Zone Producing Zone BD Field U J 0 10 Km 20 Km 222,000 ac. 21 History First discovered in the 1910s by drilling surface oil seeps Shot 175 Km of 3D seismic in ’08, which is the first 3D shot over the trend H Field has generated 5mmboe from 4,000 ft. H re- development may produce an additional 1mmboe Opportunity Identified six seismic defined prospects above 6,000 ft. Primary production may originate from Upper Jurassic (UJ) clastics, Lower Jurassic (L J) carbonates, and Triassic clastics Today Drilling first well to re-develop the H Field 2 Gas |
Romania |
2 Romania’s Energy Profile Area 238,391 km Comparative Area Slightly larger than Oklahoma ‘08 Population 21,504,442 ’08 GDP $199.7 billion Fitch Sovereign BBB Risk Rating ‘08 Proved Reserves 0.6 billion bbls / 2.2 Bcf ‘08 Daily Consumption 219k BOPD / 1.65 BCF/d (1) ‘08 Daily Production 95k BOPD / 1.20 BCF/d (1) Royalty 3.5% - 13.5% (oil) and 3.0% - 13.0% (gas) Tax 1-year tax holiday, then 16% Oil is sold at world market prices Gas is deregulated; priced at 80% of imported price (Gazprom) Opportunity: One of the richest petroleum systems in the world Communist system prior to the 1990’s produced “footage- based” shallow drilling systems, which did not exploit deeper structures Improve results by using technology Re-develop prematurely abandoned fields Higher risk/reward exploration targets (1) Gas figures as of ’07, the latest available Source: IEA, CIA - The World Fact Book, and IHS 23 000 BOPD BCF/d EU Member ’07 Average BCF/d Consumption 1.65 Production 1.20 Net Imports 0.45 ’08 Average BOPD Consumption 219k Production 95k Net Imports 124k Crude Oil Consumption vs. Production Natural Gas Consumption vs. Production |
Romania ‘09 Drilling Plan 2 wells drilled at Izvoru Marsa & Vanatori next… Canyon gas play in late fall TransAtlantic’s Acreage: 2 1 3 Oil Prone 3 Blocks: 5mmbbl Redevelopment Potential 3D Bulgarian Jurassic Oilfields COYOTE TREND Gas Prone 24 3 1 2 1.4 million gross / 0.7 million net |
Summary |
Projected Capex & Drilling Schedule ‘09 Capex = $97mm Remaining ’09 Drilling Schedule (1) Includes 1 well in process (2) Drilling is anticipated to re-commence when production comes online in Q4:09 26 8:30am EST (3) Awaiting completion 1 well Development Low Risk/Re- Development Exploration Turkey Selmo (1) Oil 5 Thrace (2) Gas 2 - 5 Arpatepe Oil 1 - 3 Atesler (1) Oil 1 Morocco Oil Trend (1) Oil 2 2 West (1) Oil 2 Romania I, V, & M (1), (3) Oil 4 Exploratory Oil & Gas 3 TOTAL 8 - 13 6 8 |
We’ve Done This Before – Encore Development: Seek to maximize our cash-on-cash returns by continually searching to reduce drilling and operating costs Pursue projects that will permit us to develop out of cash flow, without the need to tie up excessive capital “building reserves” Exploration: Prioritize opportunities, balancing risk with reward and near-term with longer-term projects, resulting in advancing projects with asymmetric upside Work to reduce costs by utilizing our own equipment, planning for “scale,” and partnering out risk Joint Venture Opportunities: Seek to lower risk and accelerate activity Expand our opportunities GOAL: Create a fully funded, international, vertically integrated E&P company 27 |
Thank You |
Appendix |
Proven Management Team ’85 -’06, built Riata Energy into one of the largest privately held energy companies in the US ‘06, sold controlling stake in Riata, which was later renamed SandRidge Energy Inc. (NYSE: SD) Founded Mitchell Group in early ‘07, which includes Longfellow Energy and Riata Management Prior to involvement with Riata Energy and Mitchell Group, Mr. Mitchell worked in the oil field services industry and was employed with his family's ranching and aviation businesses B.S., Oklahoma State University Appointed CEO and Board Member in ’08 General Counsel for Riata Management since ’07 Vice President, Legal & Corporate Secretary for SandRidge Energy (NYSE: SD), ‘05-’07 General Counsel for Riata Energy, ‘01-’05 Represented Riata Energy while practicing law with Sprouse, Smith & Rowley, P.C., ‘95-’01 B.S. in Business Administration, University of Vermont; J.D. from Oklahoma University Appointed President in ’04; appointed to Board in ’05 Previously Vice President of Operations ‘02-’04; CEO ’04-’08; focused on International since ‘94 Former General Counsel to Humble Exploration Company Former Partner at Vineyard, Drake & Miller B.A. in Biology, Rutgers University; J.D. from Rutgers Law School Appointed Vice President and CFO in ‘07 Majority of her career at FINA Inc. in various capacities including Controller and Treasurer; Financial Controller for international operations PetroFina S.A.,‘98-’00 MBA in Corporate Finance & Investment Analysis, University of Texas at Dallas; B.B.A. in Accounting, Angelo State University Name & Title Age Years Exp. Experience Malone Mitchell Chairman Matt McCann Chief Executive Officer Scott Larsen President Hilda Kouvelis, CPA CFO 25 15 25 25 30 47 40 57 46 |
Name Title Country Focus Caty Albert VP Various Weldon Beauchamp, Ph.D. Manager / New Ventures Turkey David McDonald, Ph.D. Geophysicist Romania Gene Pait Senior Geologist Various Wayne Campbell Geologist Various Andy Bell Geophysicist Various Neil Apak Senior Geologist Turkey Sergey Shevchenko Senior Geophysicist Turkey Volker Koehler Subsurface Manager Turkey David Campbell Senior Geologist Romania Abdelali Zakir, Ph.D. Geologist Morocco Jamal Abchir, Ph.D. Geologist Morocco Ahmed Demnati, Ph.D. Resident Representative Morocco James Follis VP, Operations Various Monte Bell VP, Engineer/Midstream Various Mike Laurin President, Seismic Operations Turkey, Morocco Justin Davis Manager – Int’l. Operations Various James Jackson Engineer Various Mike Rinehart Engineer Various Ian Delahunty Int’l. Engineering Manager Turkey, Morocco Curtis Staple Pressure Pumping Manager Turkey, Morocco Ahmet Kose Reservoir Engineer Turkey, Morocco Ahsen Karakaya Drilling Engineer Turkey Simon Hendry Engineer Turkey Veysi Alyamac Field Manager Turkey Ion Motoaca Petroleum Engineer Romania Jeff Mecom VP, Legal Various Henry McElroy VP / Drilling Manager Various Dustin Guinn CFO, Viking Services Various Rustem Guney CFO / Finance Manager Turkey Tarik Demnati General Manager/Resident Representative Morocco Selami Uras General Manager/Resident Representative Turkey Gabriela Badina Resident Representative Romania Suha Okul Area Manager Turkey Matt Strickler Land Manager Romania Ali Mortajine Drilling Superintendent Morocco Philip Pope International Drilling Operations Manager Turkey, Morocco Ross Hodges Construction Manager Turkey, Morocco 31 Geology Engineering / Operations Administrative / Corporate / Services |
MOBILIZATION AND CONSTRUCTION CEMENTING & MUD LOGGING EQUIPMENT UNDERBALANCED EQUIPMENT CMF PSI-Max BHP Units Morocco 2,500 1,500 440 2 Turkey 2,500 3,000 440 2 CMF PSI-In PSI-Out Units Morocco 1,000 3,000 1,500 4 Mobile Underbalanced Drilling Nitrogen Units Type Units Morocco Twin 450HP Recirculation Pump Unit 2 Batch Mixing Trailer 1 Batch Mixing Skid 1 Bulk Cement Tank Transport Truck 2 Bulk Silos 4 Units Morocco 2 Turkey 3 Cementing Equipment Mud Logging Equipment Type Capacity Units Morocco Lowboy 50-Ton 3 Lowboy 30-Ton 3 Turkey Lowboy 50-Ton 5 Lowboy 30-Ton 5 Trailers Depth Drill Name Class Capacity (ft) Pipe Size Horsepower Morocco I-7 Drilling 6,500 3 1/2 " 530 I-8 Drilling 13,000 4 1/2 " 1,300 Turkey I-9 Drilling 13,000 4 1/2 " 1,300 I-15 Drilling 7,500 4 " 760 I-16 Drilling 6,500 3 1/2 " 450 I-13 Drilling 13,000 4 1/2 " 1,200 Max Hook Class Load (lbs.) Horsepower Turkey Workover 180,000 450 Workover 180,000 450 Rig Rig 32 Type Units Type Units Morocco Haul 4 Roller 1 Rig-up 4 Motor Grader 1 Srv. & Lube 1 Loader 3 Roadwinch 4 Bull Dozer 1 Dump 2 Backhoe 2 Water 2 Excavator 1 Gang 1 Turkey Haul 5 Roller 1 Rig-up 1 Motor Grader 1 Srv. & Lube 2 Loader 2 Roadwinch 3 Bull Dozer 2 Dump 2 Backhoe 2 Water 3 Gang 2 Heavy Trucks Heavy Trucks GEOPHYSICAL EQUIPMENT DRILLING SERVICES & EQUIPMENT Qty Description Acquisition Technology 3,000 Channel, OYO GSR Wireless Recording System 3,500 OYO 32 CT, Geophones 2 Transcriber, Charging and Crew Management Trailers Source / Survey Technology 5 IVI 64,000 lbs. Buggy Vibrators 7 Force II Vibrator Electronics 5 TigerNav Vibrator Guidance Systems 5 Trimble 5800 Receiver and Base Units Camp Fully Enclosed 40 Man Camp Offices and Communication Trailers Vehicles Complete Suite of Support Vehicles and Equip. Haulers |