A New Force in E&P Macquarie Oil & Gas Explorers Conference January 2013
EXPLORATION STRATEGY Kurdistan Region of Iraq (KRI) Material prospects remain: Taq Taq Deep, Tawke Deep, Chia Surkh, Deep Miran Screen for new assets Establish high impact African exploration portfolio Balance to KRI portfolio Diversify political risk Material value creation Screening criteria Focus on material exposure to 3 or 4 hydrocarbon systems Material prospects (>250mmbbls) and material equity Target 5 high impact exploration wells per annum Leverage Turkish roots 2
KRI EXPLORATION PROGRAMME Peshkabir 25% WI Evaluation and 3D seismic acquisition ongoing Tawke Deep 25% WI Result T-17 1Q 2013 Ber Bahr 40% WI Side track to re-test oil zone: 1Q 2013 Taq Taq Deep 44% WI Spud TT-22 1Q 2013 IRAQ IRAN Miran East 75% WI M 4 currently testing Miran Deep 75% WI Deeper exploration M 7 spud 4Q 2013 Legend Genel Energy Blocks Current exploration portfolio Exploration wells Chia Surkh 60% WI CS-10 spud Oct 2012 results 1Q 2013 3
TAWKE DEEP N Tawke 17 (Deep) S W Tawke 17 (Deep) E Dip Section Strike section Top Jeribe Mıocene Top Eocene Proven OWC Cretaceous Spill Top Cretaceous Top Jurassic Spill Top Triassic Genel 25% working interest, DNO operator Deep Jurassic-Triassic test below proven Cretaceous oil field Jurassic oil and Triassic gas prospectivity Spudded 3Q 2012, results 1Q 2013 200mmbbls gross unrisked mean prospective resources with 36% POS (McDaniel 2011) 4
TAQ TAQ DEEP SW Taq Taq 22 (Deep) NE Top Cretaceous Top Top Jurassic Top Top Triassic Genel 44% working interest, TTOPCO operator (Genel 55%) Deep Jurassic and Triassic targets Jurassic oil and Triassic gas prospectivity 250mmboe gross unrisked mean prospective resources with 40% POS (McDaniel 2011) Taq Taq Deep well to spud 1Q 2013 will have an estimated TD c.5,000m in the Triassic 5
CHIA SURKH Genel 60% working interest, operator First exploration well (Chia Surkh 10) spudded on 7 October 2012, TD 2,500m, Miocene Paleocene test Two other leads Qalami and Barda Sur 300mmboe gross unrisked mean prospective resource with 31% POS (McDaniel 2011) Chia Surkh-10 testing 72mmbbls gross unrisked prospective resource with 44% POS (McDaniel 2011) 6
MIRAN DEEP EXPLORATION POTENTIAL Line A Near Top Permian Map NW Line A SE Existing Miran gas field Jurassic Near Triassic Near Permian Line B Near Max Top Area Permian of Closure (Max) Closure: 58 sq. 58 km sq. km SW Line B Existing Miran gas field NE Genel 75% working interest, operator Existing Miran field 3.75 tcf of gross mean contingent and prospective resource (RPS 2012 report) Jurassic Near Triassic New deeper prospectivity identified with 4.0 tcf gross unrisked mean prospective resource (Genel management estimates) Near Permian 7
Tunisia GENELCS\Presentations\120223_Capital Markets Day\12 Capital Markets Day Presentation (EM 20120213).pptx EMERGING AFRICAN EXPLORATION PORTFOLIO Offshore S. Malta: Sirte Basın Libya Analogues NW Africa: Jurassic Carbonate and Cretaceous Fan Play Area 4: Blocks 4,5,6 & 7 (75%; MOG operator) 5,700 sq km total Morocco Juby Maritime (37.5%; Cairn operator) Sidi Moussa (60%; operator) Mir Left (75%; operator) 14,600 sq km total Algeria Libya Egypt Cote d Ivoire Block 508 (24%; Vitol operator) 1,000 sq km total Senegal Mauritania Mali Niger Chad Sudan Guinea S.L. Togo BurkinaBenin Cote Ghana D Ivoire Nigeria Cameroon Eq. Gabon G Congo DRC South Sudan C. African Rep Tanzania Ethiopia Kenya Somaliland: Mesozoic Rift SL-10B & SL-13 Block (75%; operator) SL-6,7&10A (50%; operator) 40,300 sq km total Angola Namibia Zambi a Zimbabwe 8
MOROCCO EXPLORATION THEME Proven petroleum system in offshore Morocco associated with Jurassic carbonates analogous offshore Canada: Juby Maritime block Contains Cap Juby oil discovery + upside; drill ready Several leads Carbonate Margin Sidi Moussa block Drill ready Nour prospect Additional prospects Mir Left block 3D commencing Several large leads In addition submarine fan play Drilling Juby Maritime 1-2Q 2014 Sidi Moussa 1-2Q 2014 Mir Left 2H 2014 Note: Resource and POS numbers are Genel Energy management estimates. 9
MOROCCO APPRAISAL & EXPLORATION OPPORTUNITIES Cap Juby discovery Cap Juby appraisal and exploration Cap Juby MO-2 oil discovery drilled in 1968 by Esso flowed 2,400bopd Middle Jurassic oil column untested Prospect size: 250mmbls, POS 33% Juby Maritime exploration Exploration Appraisal Numerous carbonate play types Leads: 150-200mmbls prospects, average POS 20% Juby Maritime exploration W E Sidi Moussa and Mir Left exploration Cap Juby analogue, Jurassic carbonate fault block Main prospect sizes: 200mmbbls, POS 20% Cap Juby Sidi Moussa Nour MO-2 / Cap Juby-1 Platforms Fans MO-8 40sq km Line 83MMO-09 Line 83MMO-09 ~50 sq km Note: Resource and POS numbers are Genel Energy management estimates. 10
COTE D IVOIRE LICENCE INTERESTS Mid Cretaceous submarine fans on 3D seismic Block CI-513 to east Mid Cretaceous submarine fans Jubilee Field Ghana Proven petroleum systems with three main potential field size ranges in the three main plays: Submarine fans: 150-500mmbbls Main risk: reservoir presence and identification Albian tilted fault blocks: >250mmbbls Main risk: seal integrity Diapirs (local to CI): 100mmbbls Main risk: reservoir Total gross prospective resources of 300mmboe with POS 15% Work programme 3D seismic acquisition underway, processing to complete in 1Q 2013 First exploration well 1H 2014 Albian tilted fault blocks Note: Resource and POS numbers are Genel Energy management estimates. 11
MALTA GEOLOGICAL CONTEXT Area 4 Petroleum Context: Mid-Cretaceous rift- Melita Graben superimposed on Triassic Graben Ashtart Field (Metlaoui trend) Melita- Medina Graben Steppanosa Basin (Triassic / Jurassic) Medina Escarpment Early Tertiary carbonate platforms similar to Metlaoui & Intisar Working petroleum system Total estimated gross prospective resources 800mmboe Spud Hagar Qim ~250 mmbbls max wıth POS 20% 4Q 2013 Sirte rise Haqar Hagar Qim: First well late 2013 Intisar Field Sirte Basin Note: Genel farm-in pending Maltese Government approval and resource estımates Genel management estımates. 12
SOMALILAND BASIN PETROLEUM CONTEXT Jurassic/Cretaceous rift Yemen analogue 40,000 sq km acreage position Proven petroleum system many seeps NW SE 2,000 mmboe prospective resources with POS 15% in both blocks Yemen analogue 5 discoveries above 700mmbbls Note: Resource and POS numbers are Genel Energy management estimates. 13
EXPLORATION DRILLING PROGRAMME Assets W.I. Country Gross Unrisked Prospective Resources (mmboe) Net Unrisked Prospective Resources (mmboe) H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 Gross Unrisked Resource Prospect (mmboe) Net Unrisked Resource Prospect (mmboe) PoS Juby Maritime 38% Morocco 800 300 250 95 33% 200 75 20% Sidi Moussa 60% Morocco 850 500 200 120 20% Mir Left 75% Morocco 750 560 200 150 20% Block 508 24% Cote d Ivoire 300 70 300 70 15% Area 4 75% Malta 800 600 250 190 20% 300 225 15% 10B&13 6,7&10A 75% 50% Somaliland 2,000 1,250 2,000 1,250 15% CS - 10 & 11 Tawke Deep Taq Taq Deep 60% KRG 305 183 72 43 31% 25% KRG 213 53 213 53 36% 44% KRG 248 109 248 109 40% Miran Deep 100% KRG TBC TBC TBC TBC TBC 14
APPENDIX - GENEL ENERGY RESERVES AND RESOURCES Gross Resource Net Resource Unrisked Working Unrisked Risked 2P 3P 2C Prospective Interest 2P 3P 2C Prospective PoS Prospective mmboe mmboe mmboe mmboe % mmboe mmboe mmboe mmboe % mmboe Producing assets Taq Taq 647 1,042 - - 44% 285 458 - - - Tawke 734 876 25-25% 184 219 6 - - Total 1,381 1,918 25-468 677 6 - - Development assets Miran - - 696 252 75% - - 522 189 49% 92 Bina Bawi - - 750-44% - - 330 - - - Total - - 1,446 252 - - 852 189 92 E&A Portfolio Taq Taq Deep - - - 248 44% - - - 109 40% 44 Tawke Deep - - - 213 25% - - - 53 36% 19 Chia Surkh - - - 306 60% - - - 183 31% 57 Peshkabir - - 85 341 25% - - 21 85 42% 36 Dohuk - - 102-40% - - 41-39% - KRI Total - - 187 1,108 - - 62 431 155 Juby Maritime - Cap Juby - - - 250 38% - - - 94 33% 31 Juby Maritime - Exploration - - - 550 38% - - - 206 20% 41 Sidi Moussa - - - 850 60% - - - 510 20% 102 Mir Left - - - 750 75% - - - 563 20% 113 Cote d' Ivoire - Block 508 - - - 300 24% - - - 72 15% 11 Somaliland - Block 13/10B - - - 1,000 75% - - - 750 15% 113 Somaliland - Block 6,7&10 - - - 1,000 50% - - - 500 15% 75 Malta - Area 4 Cretaceous - - - 250 75% - - - 188 20% 38 Malta - Area 4 Tertiary - - - 600 75% - - - 450 15% 68 Total Africa - - - 5,550 - - - 3,332 590 Total E&A - - 187 6,658 - - 62 3,763 745 Total 1,381 1,918 1,658 6,910 468 677 920 3,952 837 15