WHERE TALENT AND KNOWLEDGE MEET OPPORTUNITY

Transcription

1 TSX: PR BVC: PRC WHR TALNT AND KNOWLDG MT OPPORTUNITY APRIL 2011

2 VALU GNRATION THROUGH GROWTH 11x growth in exit production within five years The Company produced over 25% of oil in Colombia in 2010 * 220,000** 265,000 Background 122,000 24,784 61, Daily gross operated oil production: barrels of oil equivalent per day (boe/d) nd of the year Based on 864,000 boepd in Colombia ** Production capacity 2

3 XPLORATION CAMPAIGN km 2 3D Seismic 2,217 km 2D Seismic 15,423 km Aeromagnetogravimetric Data 1,900 km Stress Data(SFD) 2,000 km 2 Hyperspectral Images 68 Wells: 26 exploratory Total Investment: US$307 Million (Net) 56 successful wells out of 68 drilled 30 appraisal 12 stratigraphic 80% success rate Discovery Cost: 1.37 $/bbl 3

4 PROPRTIS IN COLOMBIA LLANOS BASIN 1. ARAUCA 2. LLANOS-7 3. CORDILLRA LLANOS CP-1 6. ARRNDAJO 7. CPO-1 8. CPO CPO CP-6 LOWR MAGDALNA BASIN 11. CR SSJN SSJN GUAMA 15. CICUCO CAGUAN & PUTUMAYO BASIN 16. TOPOYACO 17. CAGUAN PUTUMAYO TRCAY 20. CAGUAN TACACHO Map of Properties LLANOS BASIN 22. PIRIRI 23. RUBIALS 24. MORICH UPPR & MIDDL MAGDALNA BASIN 25. LAS QUINCHAS 26. DINDAL 27. RIO SCO 28. PULI 29. GUASIMO 30. CAGUAN UPPR & MIDDL MAGDALNA BASIN 31. BUGANVILS 32. ABANICO 33. CHIPALO LOWR MAGDALNA BASIN 34. LA CRCINT LLANOS BASIN 35. QUIFA 3 Countries; 45 Blocks (33 exploratory assets) 4

5 PROPRTIS IN PRÚ & GUATMALA GUATMALA PTN BASIN 36. A A-7 PRÚ MARAÑON & UCAYALI BASIN Map of Properties GUATMALA PRÚ Over 11 Million Acres (net) 5

6 xpanding reserve life through knowledge Dic m mboe Reserve (net 2P) growth of 12.8% in mmboe Feb 2011 POS: 3.886,1 MMbbls Source: Petrotech ngineering Reserves Report, 2010 POS: MMbbls 6

7 STAR technology A significant potential for Colombian reserves increase Synchronized Thermal Additional Recovery Uses existing Pacific Rubiales well configuration to sweep oil into producing wells Potential to increase recoveries from 10% to 40% Signed binding MOU with copetrol nhanced recovery extends economic life of field beyond 2030 Phase I completed April quipment for pilot project in transit to the field. STAR is a proprietary technology based on the company s in-house experience. Infrastructure & Projects H2 H1 V1 H3 H4 Potential to triple company s reserve base 7

8 LA CRCINT Gas in place to support substantial development Significant production potential at low cost 5 wells drilled ( ) with potential to produce over 120 mmcf/d Reserves of bcf based on OGIP of nearly 600 bcf (1) US$0.30/mcf operating costs Take or pay contracts 60 mmbtu/d production contracted for 2 year take or pay basis Substantial resource upside Additional resource upside 8 new prospects identified LNG and CNG export to the Caribbean Sea NG - Coselles valuating export options (CNG to the Caribbean and central American markets as a substitute for liquids in electricity generation and automotive uses) Small Scale LNG - INDOX (1) Petrotech ngineering Current Production of 66 mmcf/d 8

9 FOCUS ON BST BALANC RWARD/RISK Quifa. Advance environmental licensing. Infill drilling. Reserve certification. 3D seismic CP-6. Migrate to &P contract. Advance licensing. Infill drilling. 3D seismic. Reserve Certification CPO-1 and CPO-12. 3D seismic, Bring forward 2011 drilling. High potential La Creciente. Drill Apamate-1 and 2, 2Q Additional potential in prospects B, G and DW. Certify reserves Putumayo. Advance licensing in Tacacho-Terecay. Drill Topoyaco-3 in prospect D. 9

10 COLOMBIAN GOLOGICAL BASINS VALL INF MAGDALNA CSAR RANCHRIA LLANOS NORT CAGUAN - PUTUMAYO LLANOS SUR 10

11 XPLORATION CAMPAIGN Drilling wells 9,252 km 2D Seismic Number of Wells Net Investment US$1,587 M Discovery cost (projected) 2.05 US$/bbl Net Investment (US$M) NT MMUS$ US$M Kilometres 4,016 km 2 3D Seismic Seismic Lines Net Investment (US$M) 2D 3D NT US$M MMUS$ 11

12 XPLORATION DRILLING AND SISMIC PROGRAM FOR 2011 BLOQU POZO TIPO D POZO NRO FBRRO MARZO ABRIL 2011 MAYO JUNIO JULIO AGOSTO SPTIMBR OCTUBR NOVIMBR DICIMBR QUIFA AMBAR-3 JASP-3 JASP-2 ZIRCON-1 XPLORATORIOS (5) S S D S DLINADORS (15) D Quifa N 3D (resguardos) 400 km 2 Quifa Desarrollo 3D 280 Km 2 CP-6 GUAIRURO-5 GUAIRURO-6 STRATIGRAFICO (8) XPLORATORIO (1) S S DLINADOR (11) D CP6 366 km 2 CPO-1 CPO-1X CPO-12 CPO-12-1X CPO km 2 ARRNDAJO AR-1X TOPOYACO TOPOYACO-3 GUAMA GUAMA-1X LA CRCINT ARAUCA APAMAT-1X LCD-DW1 ART-1X ARP-1X GUADUAS CAPIRA-1X BUGANVILS VNCJO-1X ABANICO SSJN3 GCKO-1 ABANICO-N-1 SSJN3 (suspendido 388km) 112 km CR1 CR1 319 km SSJJN7 SSJJN7 332 km CP1 CP1 500 km Terecay Terecay 528 km Peru Lote 138 Peru Lote km Peru Lote 135 Peru Lote km sperando permisos Ambientales Peru Guatemala Guatemala 300 km 2 sperando aprobacion del MM Guatemala Type of wells: : xploratorio D: Delineador S: stratigrafico Adquisición Sismica 2D 3D 12

13 SCURING MARKT ACCSS ODL PIPLIN Currently the pipeline transports 170,000 barrels per day, with a projected figure for the year 2011 of 340,000 barrels per day. OCNSA Acquired access to Ocensa pipeline for 160 mboe for a 10 yr period beginning Feb 1, BICNTNARIO PIPLIN (OBC) The Oleoducto Bicentenario will be the largest of its kind in Colombia and will be developed in four phases that are expected to be finalized by December The Company has committed to participate in 32,8%, acquiring the right to access approximately 40,000 bbl/day of transportation capacity by the end of CARTAGNA OIL TRMINAL An alternative oil exportation port to the Caribbean. Capacity of aframax and in the future VLCCs, subject to the expansion of the Varadero channel. Tumaco CARTAGNA Cartagena Oil terminal Coveñas GUADUAS-DORADA TRANSANDINO CAÑO LIMÓN-COVÑAS ODC OAM OCNSA OCNSA BICNTNARIO Phase 2-3 Phase 1 ODL Monterrey Rubiales Infrastructure & Projects The OBC and the COT will debottleneck the Colombian pipeline and port system 13

14 2011 CAPITAL PROGRAM Over US$1.1 billion capital program US$ MM xploration 340 Drilling 139 STAR/SPV* 204 Facilities 438 Financial XPLORATION DRILLING PROJCTS FACILITIS * quity in OBC and Petrolectrica de los llanos CAPITAL STRUCTUR xploration $340 MM Production Facilities $438 MM Development Drilling $139 MM Other Projects $204 MM xploration across 26 blocks Start of operations in Peru and Colombia 20 exploratory wells 1 ; 36 Appraisal wells 2, 3 stratigraphic wells km of 2D seismic and 440 km 2 of 3D seismic planned for 2011 Quifa and Rubiales Oleoducto Bicentenario de Colombia ( OBC ) CP-6 Quifa expanding capacity from 60 k boepd to 100 k boepd To increase production capacity CP-6 STAR IT Transport and port projects 1 1 LC 1, 1 Guama, 1 Guaduas, 2 Arauca, 4 CP-6, 1 CPO-1, 1 CPO-12, 5 Quifa, 1 Buganviles, 1 Abanico, 1 Topoyaco & 1 Guatemala 2 1 Guama, 16 CP-6, 2 CPO-12, 15 quifa, 1 Buganviles & 1 Abanico 3 1 CP-6 & 2 Quifa 14

15 SHAR PRIC PRFORMANC ,00 35,00 As of March 31, 2011 TSX CAN$ BVC COP$ 1 Financial ,00 Share Price $ COP$ 51, ,00 Market Cap $7.135 COP$13.29b ,00 15,00 52 Week High $ COP$67, ,00 52 Week Low $ COP$30, ,00 0,00 March Average Volume million shares 2.08 million shares 1. C$1=COP$ 1,864, As of Jan 31, Daily Traded Volume PR Volume PR Price *The IGBC is the general index of the Colombian stock exchange. Ranked #1 in the IGBC*with the 24.2% of participation, index for the first Quarter

16 Canada Office 333 Bay Street, Suite 1100 Toronto, Canada MSH 2R2 PBX: Fax: Corporate Office Carrera 11A No Torre OXO - Piso 9 Bogotá D.C., Colombia PBX: Fax: Colombia Technical Office Calle 95 No Bogotá D.C., Colombia PBX: Fax: