TransAtlantic Joint Venture Strategy TransAtlantic Petroleum Annual Shareholders’ Meeting June 2012 - Dallas Exhibit 99.1 |
TransAtlantic Licenses |
Farm-out Opportunities |
2012 JV Strategy – Zagros Province Gurun Malatya Molla Idil Gaziantep |
Dadas & Mardin Potential • Play possibly spans 8,000 sq miles in SE Turkiye • TransAtlantic’s position is the liquids window, in the heart of the play • 111,938 Operated Acres prospective for the Woodford (Dadas) play • 600,017 Operated Acres prospective for the Mississippian (Mardin) play • 1,400 Well Development Potential • Anatolian Energy’s Ryder Scott Report assigned P50 11.5 BBbl OIP and 412 mm bbls recoverable oil in their licenses in SE Turkiye Dadas-I Isopach |
Mardin Potential and the Goksu Discovery • Vertical Well Completion – Perforations treated with 3000 gal of acid • Goksu-2R cumulative production = 28,000 bbls oil since February 2012 • Initial flow rates were 400-500 BOPD in February 2012 • Put on 16/64 choke. • Stable FTP of ~240 psig • Current rate is 210 BOPD with 80 BWPD • Goksu-3 to be horizontal well 0 5000 10000 15000 20000 25000 30000 0 100 200 300 400 500 600 2/1/2012 3/1/2012 4/1/2012 5/1/2012 6/1/2012 GOKSU 2 (Mardin) BOPD BWPD FTP WC Cum Oil |
Konak: Low Cost with Huge Return Target: Lower Jurassic Carbonates/Paleozoic Oil shows in 4 downdip wells tied to Konak reservoir with 2011 2D seismic data Three-way closure, Main risk is seal Mean closure: 8,855 acres OIP: 271 MMBO* Recoverable Oil: 53 MMBO* Spud August 2012 *Internal Estimates |
Konak Area and Tie-Back • Located 90km south of the Sivas Basin (TransAtlantic-Shell JV). • Plan to spud in August. • Offset Well Hacilar-5 tested oil (35 API) in the Jurassic Limestone at 2692-2751m. • Offset Wells Hacilar-1, 2, 4 - oil shows reported on all three wells. • TransAtlantic likes the area and the prospect. 113 km of five 2D seismic lines were acquired. • In 2012 we tied the 2011 seismic back to offset wells and proved the reservoir to be breached to the South. However the reservoir is confined by 3-way closure to the north in Konak. • TPAO spudded Gurun-1 and will target Lower Jurassic / Paleozoic. |
Idil Block – Triassic Oilfield Potential • Four prospects/leads identified within Idil. • 2011/2012 Seismic data has showing exisiting wells to be off structure • Prospect A: 25,000 Acre Structure with 173 mmbo P10* *Internal Estimates |
IDIL License – 2D Seismic Line Coverage SYRIA AR/SEL-TAT/4642 Guclu-1 (2001): Mardin: Mud-cut fresh water recovery in DST; Oil shows; Asphalt in fractures in cores Ebyat-1 (1958): Mardin: Oil-cut mud and oil-cut water recovery in DST; tar and oil in cores Babil-1 (1980): Mardin: Wet (?) Ugur-1 (1969): Mardin: Asphalt-cut water recovery in DST; Asphalt in cores Pre-1980 2008 2011 2012 1982, 1983, 1988 2000 1984 Initially Proposed Multi-target Locations • Wells drilled based on either poor quality or sparse 2D grid • There has been no drilling activity for more than a decade • New seismic shows that many wells were drilled off structure • Cudi-Triassic formations (Dincer, Camurlu, Bakuk) have not been properly evaluated; Paleozoic is un-tapped Mardin: Gas-cut mud recovery in DST Ozguner-1 (1991): |
2008 Single Receiver Line Conventional Acqusition (Post-stack Migration) 2012 Dual Receiver Line Combined Sweep Acqusition (Pre-stack Migration) Data Quality Improvement over Ebyat Anticline |
2012 JV Strategy - Temrez • • • • • Map oil leg Kazanci oil leg across Temrez Prove Hayrabolu Extensional Trends Explore Hamitabat throughout block Map structures for Danisman and Osmancik potential Map Mezerdere sands for tight gas potential |
Habiller – Identified Hamitabat Prospect • 28 Bcf P10* Prospect in proven Hamitabat horizon * Internal Estimates • Stratigraphic Trap in Upper Hamitabat • TPAO Hamitabat field has produced 110 Bcf |
Sustainable Culture and Personnel TransAtlantic Petroleum Annual Shareholders’ Meeting June 2012 - Dallas |
Asset Teams Supported by Management Completion Engineer Reservoir Engineer Geologist Drilling Engineer G&G ISTANBUL EXPLORATION Completions Advisors DALLAS ROTATIONAL 1 Senior 1 Staff Reservoir Advisors DALLAS BASED Reserves Audits and Asset Development Drilling Advisors DALLAS ROTATIONAL 1 Senior 1 Staff Dallas Istanbul Training |