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BLOCK 64 : Karandashovsky
General Presentationof the Asset
02/05/2023 Property of OOO « SybexOil » All Right Reserved Copyright © 2013
2 / 29
Oil in Western Siberia & Tomsk Region
Petroleum Reservoirs in Block 64 Area
Active Oil Companies in Tomsk Region
Block 64 : Introduction & History
Block 64 : Figures & Evidences
Block 64 : Opportunities
PRESENTATION OUTLINE
OOO « SybexOil »
3 / 29
MAJOR RUSSIAN PETROLEUM BASSIN
OOO « SybexOil »
BLOCK64
WSBLargest petroleum basin in the world
w/ 2.2M km 2
Discovered proven oil reserves are
144 BBL of oil
Source : Troika Dialog & U.S. Geological Survey
10% Of the giant petroleum field
are located in WSB
Undiscovered oil reserves assessed
8 BBL of oil
THE WEST SIBERIAN BASSIN
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WEST SIBERIAN BASIN (WSB)
OOO « SybexOil »
OILProduces 70% of Russian Oil (6.57 MBPD) Contains 64% of Russian oil reserves
GASProduces almost all of Russian GasContains 79% of Russian Natural Gas
EXPLORATION ACTIVITIES52% Russian drilling rigs located in WSB80% Drilling volume of Russia is in WSB
WSB
Source : rogtecmagazine.com
5 / 29
WSB – UNDISCOVERED RESOURCES
OOO « SybexOil »
WSB
F95 represents a 95 percent chance of at least the amount tabulated Other fractals are defined similarly AU probability is the chance of at least one accumulation of minimum size Largest
Source : U.S. Geological Survey - 2003
KEY FACTSUndiscovered oil reserves assessed at a total of 8 BBL of oil
in MMBO
6 / 29
WSB – OPPORTUNITIES & CHALLENGES
OOO « SybexOil »
WSBOpportunities
Late start of production (only in 1960’s) makes it a significant potential for reserve adds to existing fields and new field discoveriesWSB is the most prolific basin in the worldFiscal reform from the government to encourage green field development project
ChallengesAccess to qualified labor forceHSE concernsInfrastructures
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TOMSK REGION : OVERVIEW
OOO « SybexOil »
WSB
129Oil & Gas fields in
Tomsk region
102Blocks are
reporting activity under progress
22Oil companiesare currently
producing crude
Only 11fields are not yet
awarded
Y2012 oil production for Tomsk region11.86 MMT
C1 registered oil reserves nowadays
676.26 MMT
39Oil companiesare working in Tomsk region
Other oil reservesC2 267.8 MMT
C3+D 1616.1 MMT
Block 64 is located in the extreme west part of Tomsk region
Source : Rosnedra & rogtecmagazine.com - 2012
Area of 316 900 sqkm
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TOMSK REGION : DISCOVERIES
OOO « SybexOil »
WSB
2004 2005 2006 2007 2008 2009 2010 2011 2012
15.46
11.16 9.85 9.99 10.09 10.1610.53 11.5 11.86
4.09 4.15 2.92
37.74
22.119.13
10.36
42.7
8.6
Production & Discoveries
Production (MMT) C1 new dicoveries (MMT)
KEY FACTS98 new oil fields have been discovered only as of January 201272% of Tomsk Region is considered perspective for oil and gas
Source : Russian Ministry of Energy - 2012
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TOMSK REGION : INVESTMENTS
OOO « SybexOil »
WSB
2004 2005 2006 2007 2008 2009 2010 2011 2012
28289 32980
72455
119809110320
73464
104800
84378
95430
35031610 5716 10137 5869 4105 1454 5751 3018
113300
324 730 737 745 535 1297 1370
Investments in Exploration onlyDRILLING (m depth) 2D Seismic (km) 3D Seismic (sqkm)
Source : Rosnedra - 2013
KEY FACTSInvestment for Exploration, Construction, Production
In 2011 : 30.53 B RUB / In 2012 : 27.08 B RUB Investment (SPENT + planned) in Tomsk region 2013 : 31.36 B RUB
INVESTMENT (B RUB) 7.26
3.70
5.20
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OIL FIELDS IN THE AREA
OOO « SybexOil »
RESERVOIR
64
30
65
4951
6
24
34
63
45
11 / 29
PETROLEUM RESERVOIRS OF THE AREA
OOO « SybexOil »
64
30
45
65
49
51
6
24
34
63
Fields Blocks Reserve
Glukhovskoye 51 4
Karasesvskoye - Tomsky 49 31
Karasesvskoye - Severnoye 49 10
Krapivinskoye 30 150
Krapivinskoye - Vostochnoye 30 34
Krapivinskoye - Severnoye 30 17
Moiseyevskoye 49 29
Moiseyevskoye - Zapadnoye 49 10
Pavlovskoye - Tomsky 49 18
Dvurechenskoye 49 6
Tagayskoye 49 152
Fedushkinskoye 45 28
Poselkovoye 24 26
Reserves were assessed and estimated in MBBL
RESERVOIR
Source : US Government Dept. of Energy - 1997
12 / 29
ACTIVE COMPANIES AROUND BLOCK 64
OOO « SybexOil »
NEIGHBORS
E&P Companies (Focus on Tomsk Region) Production 2012
Production Plan 2013 Year Ratio
Tomskneft 6.969 6.770 97%
Gazpromneft Vostok 1.191 1.162 98%
TomskGazprom 1.059 1.080 83%
Russneft 1.045 1.115 102%
Imperial Energy 0.621 0.513 110%
VTK 0.424 0.477 113%
Matyuchkinskaya Vertical 0.206 0.235 114%
Stimul-T 0.104 0.147 140%
Yuzhno Okhteurskoye 0.075 0.805 108%
Tomskgeoneftgaz 0.029 0.628 145%
In MMT In MMT
Source : RF Ministry of Natural resources - 2013
Block 64 is also located at the border of Tyumen & Omsk region
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TOMSKNEFT (ROSNEFT)
OOO « SybexOil »
Tomskneft belongs to Rosneft (50%) & Gazprom (50%)Proved Oil and Gas Reserves : 1,121 MMBO
Major Fields : Nizhnevartoskoye, Strezhnevskoye, Chkalovskoye, Olenye, Sovetskoye, Krapivinskoye, Dvurechenskoye, West-Moiseevskoye, Igolsko-Talovoye
Block 30 :Krapivinskoye C1 39.759 MMT – production 45k BPD
Block 49 :Igolsko-Talovoye C1 13.812 MMT – production 17k BPDDvurechinskoye C1 6.100 MMT – production 2.8k BPD
NEIGHBORS
Source : DeGoyer & MacNaughton - 2010
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PETRONEFT
OOO « SybexOil »
NEIGHBORS
Source : Ryder Scott - 2010
15 / 29
BLOCK 64 : OVERVIEW
OOO « SybexOil »
BLOCK 64
1257,8 км2 Surface
C3 of a 12,04 MMT
Source : VostokGazprom - 2007
5 Wells
2 103 км 2D Seismic
8 Structures
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BLOCK 64 : LICENSE AGREEMENT
OOO « SybexOil »
Awarded on Sept. 5th 2013License issued on Sept. 24th 2013Period : 5 + 20 yearsObligations :
2D Seismic – No obligation (has been removed)Initially it was 800 linear kmWe have performed a job of proving that such requirements is not necessary thanks to former works on this asset(We have saved 3.3M on exploration program)
3D Seismic – No obligation2 Wells Minimum
1st before June 30th 2016 / 2nd before March 31st 2017
BLOCK 64
Source : Rosnedra - 2013
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BLOCK 64 : BACKGROUND / SEISMIC
OOO « SybexOil »
BLOCK 64
OWNERSHIP
JOB PERFORMED
1981 1999 2007 20132009
Tomskneftegazgeologiaon behalf of Russian Govt
RussianGovt
2001 2005
RussianGovt
Tomskzapadnefton behalf ofRussian Govt
RussianGovt
1981 2000 2007 20132009
2 103 км OF SEISMIC 2D was performed with a gap between two scanned points of an average 1.67 linear
km/km2
Reinterpretation of Seismic 2D was done by VostokGazprom
with a C3 at 12.04 MMT
New Geological Program is being done
2D : meeting obligations with a 800 linear km/km2
3D : Aiming C1 confirmation from GKZ
Estimated cost of Job performed at 8.7 M$
Source : RosGeolFond- 2013
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BLOCK 64 : BACKGROUND / SEISMIC
OOO « SybexOil »
BLOCK 64
1990-1991
1981-1982
1985-1986
1987-1988
1989-1990
1991-1992
1997-1998
1999-2000
1999-2000 Numbers of perspective items
Oil resources in thousands tons
Balance Exploitable
Vtoraya - Karandashovskya (2224) 3710 1299
Zapadno - Karandashovskaya (2207) 2597 909
Severno - Karandashovskaya (148) 13136 4598
Vtoraya Severo -Karandashovskaya (148а) 3991 1397
Yakhskaya (2214а) 1248 438
Vostochno - Yakhskaya (2215) 3058 1071
Vostochno - Yakhskaya (2215а) 2241 785
Central Karandashovskaya (2220) 2778 972
Vtoraya - Nizjnekarandashovskaya
(2223+2223б)1636 573
Total 34395 12042
C3 resources are assessed at 12.04 MMT
Source : VostokGazprom - 2007
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BLOCK 64 : BACKGROUND / DRILLING
BLOCK 64
Job performed by …
1973 1999 2007 201320091975 1997 2001
Exploration Wells plan is being done
Karandashovshkaya 3Max Depth : 2807mNo evidence of oil
presencewas found Jan 14th 1973
Karandashovshkaya 1Max Depth : 2929mAt a depth between
2572,4m - 2578,6m was found an evidence of oil
presence Oct 30th 1973
March 20th 1997
Zapadno-Karandashovskaya 1Max Depth : 2881m
No evidence
Yakhskaya 1Max Depth : 2750m
No evidence
Vostochno-Karandashovskaya 15Max Depth : 2750m
No evidence
March 20th 1997
Sep 26th 1999
Dec 21st 2001
Drilling of 2 wells will be arranged
according to license agreements
TomskzapadneftTomskneftegazgeologia
Source : RosGeolFond- 2013
20 / 29
BLOCK 64 : INFRASTRUCTURE
OOO « SybexOil »
BLOCK 64
Nearest refinery430 KM from Omsk refinery plant600 KM from Tomsk refinery plant660 KM from Antipinsk/Tuymen refinery plant
Roads / InfrastructureBlock 64 is located in 80 KM from Noviy Vasyugan townThere are Airport, all types communications, roads witch connect all blocks
PipelineThere is the pipeline 40 KM from 64 Block.The electricity source is attached
Logistic / ReplanishmentSummer Time Scenario : By the river (Shirokaya / center of Block 64)Winter Time Scenario : By the road
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BLOCK 64 : ESTIMATED RESERVES
OOO « SybexOil »
1P (estimation) 2P (equivalence) 3P (estimation)C1 to be performed 28.37, MMBO 61,44 MMBO
ProvedProved,
Probable
Proved, Probable
& Possible
C1+C2 (forecast) C3 D1 D25.10 MMT 12,04 MMT 9,04 MMT
Oct 2013 by IFCS 2007 by VostokGazprom after complete Seismic 2D
Aug 2013 by VNIGNI
Maturity of the Assessment
LOCA
L
STAN
DARD
SIN
TL
STAN
DARD
S
64 : FIGURES
22 / 29
BLOCK 64 : EXPECTED DEBIT
OOO « SybexOil »
Region Blocks Annual Production per year (MMT)
Productive wells
Average debit (BPD)
Tomsk 61-67 0,09 9 289
Omsk 9 1,06 38 568
Tomsk 49 0,149 7 467
Tomsk 49 0,85 9 1,911
Tomsk 30 2,5 31 1,581
64 : FIGURES Blocks around are confirming the average debit of a well in this area of Tomsk region with a 700 bopd
23 / 29
BLOCK 64 : DISTRIBUTION
1st Scenario : Truck to the refinery plant
3rd Scenario : Trading company – EX Works
2nd Scenario : Truck + pipeline
Distance is 430km from plant / transport is 3.17$ for 1KM / 250BBL per truckPrice should be 5.46$ per Barrel from field to local refinery
Distance is 40km from plant / transport is 3.17$ for 1KM / 250BBL per truckPrice should be 0.5$ per Barrel to the pipelineTransportation Fee is 3.17$ per Ton - via pipeline to local refineryPrice should be 0.92$ per Barrel from field to local refinery
Bought directly by local traders on the field 476$ per ton > 64.32$ per Barrel
Source : Incoterms - 2010
64 : FIGURES
4th Scenario : Building/Connecting pipeline
40km from the nearest pipeline : 13.12M$ to connect it to TransneftPrice should be 0.42$ per Barrel + construction
OOO « SybexOil »
24 / 29
BLOCK 64 : OPPORTUNITIES & CHALLENGES
OOO « SybexOil »
OpportunitiesLocated in the most prolific basin of Russia2D seismic was done on the all territoryUndeveloped tight oil shale play3 closest blocks have between 1 – 2.5 MMT production per year (blocks 9, 49, 30)No complex or strong commitments
ChallengesAccess to qualified labor forceSafety policy64 : OPPIES
25 / 29
BLOCK 64 : RECOMMENDATIONS
OOO « SybexOil »
According to seismic conclusions :Re-drilled at first the well Karandashovsky 1 Secondly Drill in the area in the center of the block (Centralno-Karandashovskaya)Start operations in Centralno-KarandashovskayaIn parallel Perform 3D in the northern part of the block (Severno-Karandashovskaya) > to find where to drill in this zone because this area contains the most important reserves 4,598 MMTDrill and start operations in Severno-Karandashovskaya area
64 : OPPIES
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BLOCK 64 : BUSINESS PLAN / 5 years
OOO « SybexOil »
64 : OPPIES
INVESTMENT FOR EXPLORATION PROGRAM (1ST 5 YEAR)
YEAR
RE-PROCESSING SEISMIC DATA EXPLORATION DRILLING TECHNICAL
STUDIESTOTAL PRICE
VOLUME PRICE AMOUNT PRICE PRICE
2014 800 $700,000 $70,000
2015 $70,000
2016 1 $5,000,000 $250,000
2017 1 $5,000,000 $500,000
2018 $100,000
Total 800 $700,000 2 $10,000,000 $990,000 $11,690,000
27 / 29
BLOCK 64 : BUSINESS PLAN / 20 years
OOO « SybexOil »
64 : OPPIES
INVESTMENT FOR PRODUCTION PLAN (FOR 20 YEARS)
Items VOLUME PRICE PER ONE TOTAL PRICE
Drilling of production wells 22 wells $3,500,000 $77,000,000
Seismic 3D - North Area of the block 200km $28,500 $5,700,000
Capital construction (Pads, Infrastructure) $13,829,954
Construction of Camps & Facilities 35 man $40,000 $1,200,000
Pipeline 40 km $325,000 $13,000,000
Road 40 km $228,000 $9,120,000
Power station (100 MW) 1 $1,900,000 $1,900,000
Risk 10% $11,984,995
Total $133,734,949
28 / 29
BLOCK 64 : VALUATION
OOO « SybexOil »
64 : OPPIES
Based on 2007 tender Based on 2012 C3 estimation
1 Barrel in the ground (Tomsk Region) = 0.3$ C3 reserves = 3.88 MMTC3 reserves = 28.9448 MMBO
Value of USD 8,683,440
In Dec 2007 : 1 Barrel = 90.93USDPrice was 168M RUB (1USD = 24,5RUB)Price was USD 6,857,142.86 In August 2013 : 1 Barrel = 105.5USD
Value of USD 7,955,880
Value of Block 64 is estimated at USD 8,319,660
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Further contacts
OOO « SybexOil »
SybexOil Ltda Company of Sybex Alliance Holding