The company has high quality acquisition pipeline in its portfolio with reserve of 217 mln  BOE (2P)

In-house Prospecting for Oil and Gas is a surface exploration technology based on combination of physical, biological, chemical and remote sensing methods which include:

• Seismic data acquisition and interpretation (both 2D and 3D);
• Surface geochemical samplings and their analyses;
• Geomagnetic measurement and on the top of that;
• Detection of significant populations of specific, hydrocarbon-degrading microorganisms in shallow soil samples (1-2 m below the surface).

By applying sophisticated microbiological techniques total number and biochemical activity of various groups of methane-, propane- and butane-oxidizing bacteria can reliably be determined. Positive geo-microbial signals highlight regions with considerably increased bacterial cell number and activity – so called microbial anomalies, which can only develop on basis of additional hydrocarbon supply from micro-seepages vertically above oil and gas bearing structures. Hence, the detection of such a microbial anomaly indicates a corresponding hydrocarbon signature in the deeper underground.

Application of these methods enables the reliable differentiation not only between hydrocarbon prospective and non-prospective areas but also between oil- and gas indications by identification of different groups of bacteria. Without an additional hydrocarbon, supply from subsurface significant microbial populations cannot develop and merely background values will be recorded.

Our In-house Prospecting for Oil and Gas (POG®) offers the following advantages:

• Reliable differentiation between hydrocarbon prospective and non-prospective areas;
• Affordable and rapid results;
• Information about the infill of structures (oil, gas);
• Cost-reduction for exploration by exclusion of non-prospecting areas;
• Applicable in all regions, onshore and offshore;
• Effective also in difficult terrain;
• Reproducible results also on complex geological structures;
• Repeated and complementary measurements possible (after 1 year);
• Fast, easy and environmentally-sound sampling technology;
• No “halo” effects.

Our Strength

We believe that the following strengths provide us with significant advantages and will allow us to execute our corporate strategy:

• High quality Asset Base. We believe that development of our fields generally presents less execution risk than development of other crude oil and gas reserve in the region due to the relatively low funding cost of these fields. We believed that the planned drilling program is relatively predictable on an average well basis in terms of recoverable reserves, production rates and decline curves.
• Ownership of Service Assets. We enter into definitive agreement with oil service company and intend to acquire additional rigs fleet to carry out our development plans for the fields. For implementing our field development plan and minimizing the risk of third-party delays for oil field service assets, we continue to invest in the equipment necessary for drilling and field development activities.
• Significant Prospective Land Positions. We have substantial acquisition opportunities for large scale exploration activity in North Africa and Middle East. We are certain that application of our in-house prospecting technology in these assets offers significant exploration upside.

Team milestone achievements so far are:

• More than 1bln BOE was discovered which has lead to the EV (enterprise value ) of 4-5 bln USD.
• Eleven fields (Kazakhstan, Russia, Egypt, Iraq) in production with daily rate of 50 000 BOE/ day equal to 2,5 mln USD free cash flow per day.
• Historically team has turned less than 100 mln USD initial investment into the companies with a combined value of 7 bln USD.

All of this together with a full understanding of local business environment and successful relationship with local government authorities and other active oil and gas players in the regions give us all reasons to believe in success.