geoglobal - may 2010 investor
DESCRIPTION
An investor analysisTRANSCRIPT
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This presentation contains statements which constitute forward-looking statements within the meaning of the US Private Securities LitigationReform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of GeoGlobal Resources Inc., itsdirectors, or its officers with respect to the oil and gas exploration, development and drilling activities being conducted and intended to beconducted and the outcome of those activities on the exploration blocks in which the Company has an interest. Statements regarding the workcommitments to be fulfilled, the surveys to be conducted, and the results of fulfilling those work commitments, the timing and outcome of drillingand testing of wells drilled on the exploration blocks and the timing of any commercial production that may be established are forward-lookingstatements. There can be no assurance as to the outcome of those surveys conducted, the exploratory drilling and the testing and evaluationthat may be conducted or that has been conducted on the wells drilled or as to the quantity of recoverable reserves that may exist in the areasof any wells drilled or when, if ever, that the Company may realize revenues from those wells. The Company’s forward-looking statementsinclude the estimated cost and timing of its exploration activities, including the estimated costs of fulfilling its work commitments and anyexploratory drilling conducted as a consequence of the outcome of the surveys conducted, the extent of activities conducted and the outcome ofthose activities. Investors are cautioned that any such forward-looking statements are not guarantees of the success of the Company's oil andgas exploration, development and drilling activities or the commercial success of any of its wells and the wells the Company may drill involverisks and uncertainties. There can be no assurance as to the outcome of the exploratory well drilling and testing being conducted on theCompany’s exploration blocks, or to its success in drilling additional exploration, development or appraisal wells. The Company's actual resultsmay differ materially from those projected in the forward-looking statements. There are numerous risks and uncertainties involved in theCompany's acquisition of unproved minority and majority interests in the exploration areas, including the possibilities that no discoveries ofhydrocarbons are made on the exploration blocks or, if discovered, that such discoveries are determined not to be commercially productive.There can be no assurance that the Company’s drilling program will be successful or that the entire program on any exploration block will bedrilled. There can be no assurance that the Company’s estimates as to the time to fulfill work commitments and complete drilling operations willbe accurate. The exploration blocks are highly speculative exploration opportunities and pursuing the development of the exploration blocksinvolves material risks to the Company. The Company’s interests in its exploration blocks are participating interests and there can be noassurance that such funds as are required to meet the Company’s obligations under the Production Sharing Contracts (PSCs) will be availableto the Company in the amounts and when required. The Company’s failure to have such funds available at the times and in the amountsrequired could materially adversely affect the fulfillment of the Company’s business plans and its interest in those exploration blocks. In theevent a PSC is terminated by the Government of India (GOI), or in the event the work program is no fulfilled by the end of the relevantexploration phase, the PSC provides that each party to the PSC is to pay to the GOI its participating interest share of an amount which is equalto the amount that would be required to complete the minimum work program for that phase. The PSC has provisions for termination of thePSC on account of various reasons specified therein including material breach of the contract. Termination rights can be exercised after givingninety days written notice. The failure to timely complete a minimum work commitment, though there is no precedence, may be deemed by theGOI to be a failure to comply with the provisions of the contract in a material particular. The termination of a PSC by the GOI would result in theloss of the Company’s interest in those exploration blocks other than areas determined to encompass "commercial discoveries". Other thancertain areas of the KG Offshore and the Tarapur blocks, no areas on the Company’s exploration blocks have been determined to encompass"commercial discoveries" as that term is defined under the PSCs. Additional risks and uncertainties arise out of seeking to do businessoverseas in India where political and other world events may disrupt the Company's plans and intentions. The Company updates forward-looking information related to operations, production and capital spending on a quarterly basis and updates reserves, if any on an annual basis.Additional important risk factors are described in the Company's periodic reports filed with the Securities and Exchange Commission, includingthe Company's annual report on Form 10-K and quarterly reports on Form 10Q. The filings may be viewed at http://www.sec.gov. andwww.sedar.com
Cautionary Statement to Investors
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Agenda
• GGR Background
• Our Business Model
• How are We Different?
• Existing Portfolio
• Future Plans
• Questions?
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GeoGlobal Resources Inc.
• Headquartered in Calgary, Alberta, Canada
• Operations office in Gandhinagar, India
• Publically Traded in the US: NYSE/AMEX: GGR
• Shares outstanding – 72.8 M
• Founded in August 2002
• Current Portfolio of 10 Blocks ranging in Ownership from 10 – 100%.
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Mission Statement
To be recognized as a Global leader in the Exploration of
Conventional Oil & Gas.
• By Actively Seeking out High Potential hydrocarbon
reservoirs around the world.
• By performing our duties in a Safe, Commercially and
Environmentally Responsible manner.
• By having a Positive Impact on the communities in which
we operate.
• By promoting Sustainable Solutions while delivering
share holder value.
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Our Business Model
We are a pure Exploration Company:
• We look for and find High Potential Targets around the
World.
• We prove up reserves and then Unlock the value created
for our shareholders and partners.
• We target investment cycles between 4 – 6 years.
• Minimum ownership target of 25%.
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Succeed Through Strong Partnerships
Gujarat State Petroleum Corporation
Oil and Natural Gas Corporation Limited
Jubilant Offshore Drilling Private Limited
Hindustan Petroleum Corporation Limited
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How are we different?
• Team of highly skilled individuals familiar with global
basins.
• Continued investment in Technology.
• Proven Methodology for quick play evaluation.
• Small focused teams built for agility.
• Proven G&G Methodology for identifying prospects and
drilling locations.
• Commitment to the Community.
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GeoGlobal’s Management Team
Officers
Jean Paul Roy President & CEO
Allan J. Kent Executive VP & CFO
Paul B. Miller Executive Officer
Personnel - India
B. Mohapatra Country Manager
Bhoj Raj Choudhary Sr. Reservoir Engineer
Shashank Sinha Sr. Manager Geosciences
Rashmi Chandra Base Manager - DS Block
Personnel - Canada
Dr. Miles Leggett GeoScience Specialist
Sunil Karkera Controller/VP Finance
Les Kondratoff VP Finance & Business Development
Vincent Roy IT Manager
Patti Price Corporate Secretary
Carla Boland Investor Relations & Corporate Affairs
Back Row - Left to Right
Michael Hudson, Peter Smith, Allan Kent,
Brent Peters, Vincent Roy, B. Mohapatra
Front Row - Left to Right
Patti Price, Jean Roy, Carla Boland
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GeoGlobal’s Existing Portfolio: Assets in India
Krishna-Godavari BasinLargest discovery in the world
in 2002
Rajasthan Basin“Rajasthan based on its
peak production potential
could become one of the
world's top 100 oil fields.”- 2005 World Oil & Gas Assembly Conference
Cambay BasinThe main oil and gas producing
basin in India
We have exploration rights in 10 blocks
Deccan Syneclise BasinSub-basalt exploration targeting
substantial sedimentary basins
below the Deccan Trap
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Deep KG Basin Gas Resource to be Developed
10%working interest
KG Onshore
548 km2
5% carried interest
KG Offshore
1850 km2
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ref: DGHDeloitte Petroleum Services
Area Attracting Significant Development
• GSPC
• Oil India Limited
• Reliance Industries
• Niko
• ONGC
• BP
• Shell
• Cairn
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KG Onshore Proposed KG28#10 Location
Line AT-Y-23 Seismic Line in
DepthTVD
Meters
DDW Development
KG28#10
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Our Cambay Blocks
Mehsana
94 km2
Sanand/Miroli
142 km2
10%participating interest
10%participating interest
10%participating interest
Ankleshwar
448 km2
10%participating interest
448 km2
14-20%participating interest
Tarapur
1,211 km2
14-20%participating interest
1,211 km2
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Rajasthan Blocks
25%participating interest
RJ Block 21
1,330 km2
25%participating interest
RJ Block 20
2,196 km2
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Baghewala Heavy Oil Field
Area: 1650 Ha. 16.5 km2
Crestal Depth: -914 m
Spill Point : -1063 m
HC Column: 149 m
Recovery Factor: 10%
Still 38 m of untested
section above BGW #1
OIL Annual RPT,
2008-09, Reserves
Upper Carbonate, 53
MMT OIP (378
MMbbls OIP) Indicated
Lower Bilara and
Jodhpur SS, 78 MMT
OIP (557 MMbbl OIP)
25 MMT OIP proved
(177 MMbbl OIP)
Total – 935 MMbbl
OIP
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Prospect 1
Structural Closure - Against a
NE-SW elongated reverse fault. P
trap = 0.8
Reservoir – Jodhpur/Bilara
anticipated to be thicker than
Baghewala, Min 10m, ML 20m,
Max 40m Pres = 0.9
Source rocks – anticipated to be
thicker than Baghewala, flanked
to the NW and SE by deeper
intrabasinal lows, more deeply
buried so possibly lighter oils
(less biodegradation and later
maturity), long distance
migration from more deeply
buried Pakistan Psource = 0.9
Top Seal – The Hanseran
Evaporite Group (HEG) are
approximately 100m thick in all
the wells except TVW-1 where
the salt is only 26m thick,
minimum late fault movement
breaching the reservoir Pseal =
0.7
Prospect 1 crest is
296 m deeper than
the crest of the
Baghewala Field
220 MMBOIP
66 MMbbl rec?
POS = 44%
Area: 1570 Ha. 15.7 km2
Crestal Depth: -1210 m
Spill Point : -1253m
HC Column: 43 m
Recovery Factor: 30%?
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Why is this an exciting play?
• Proven Infracambrian Petroleum System
• Higher probability of lighter oil in deeper
structures
• Preserved porosity/good permeability reservoirs
• Prospects are unbreached (seismic evidence)
• Seismic evidence for deeper undrilled sediments
• Upper Carbonate upside potential – thick
reservoir section
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Deccan Syneclise Blocks
DS-03
3,155 km2
100% participating interest
100% owner & operator
DS-04
2,649 km2
100% participating interest
100% owner & operator
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Gravity Map with HC Anomalies over the DS Blocks
A
B C
D
B’A’
C’
D’
DS-ONN-2003/1DS-ONN-2004/1
Gas AnomalyOil Anomaly
Gas Anomaly
Geochem anomalies, dike swarms and main outline of proposed aeromag area in red
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Well and Work Summary (as at April 30, 2010)
BASIN/Block Oil Wells Gas Wells Seismic
Exp App Dev Exp App Dev
KG
Offshore -- -- -- 13 3 -- 1,598 sq kms 3-D
Onshore -- -- -- -- -- -- 548 sq kms 3-D (in progress)
CAMBAY
Tarapur 25 9 3 1 -- -- 750 sq kms 3-D
Sanand/Miroli 17 3 -- -- -- -- 463 sq kms 3-D and1,000 LKM
Ankleshwar 12 1 -- -- -- -- 494 sq kms 3-D and 1,000 LKM
Mehsana 7 1 -- -- -- -- 235 sq kms 3-D and 650 LKM 2-
RAJASTHAN
RJ 20 1 -- -- -- -- --1,300 sq kms 3-D
RJ 21 -- -- -- -- -- --
DECCAN
SYNECLISE
DS 03 -- -- -- -- -- --
DS 04 -- -- -- -- -- --
TOTAL 62 14 3 14 3 --
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BASIN/Block Oil Wells Gas Wells Seismic
Exp App Dev Exp App Dev
KG
Offshore -- -- -- 13 3 -- 1,598 sq kms 3-D
Onshore -- -- -- -- -- -- 548 sq kms 3-D (in progress)
CAMBAY
Tarapur 25 9 3 1 -- -- 750 sq kms 3-D
Sanand/Miroli 17 3 -- -- -- -- 463 sq kms 3-D and1,000 LKM 2-D
Ankleshwar 12 1 -- -- -- -- 494 sq kms 3-D and 1,000 LKM 2-D
Mehsana 7 1 -- -- -- -- 235 sq kms 3-D and 650 LKM 2-D
RAJASTHAN
RJ 20 1 -- -- -- -- --1,300 sq kms 3-D
RJ 21 -- -- -- -- -- --
DECCAN
SYNECLISE
DS 03 -- -- -- -- -- --
DS 04 -- -- -- -- -- --
TOTAL 62 14 3 14 3 --
96
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Reserves – Tarapur Basin
The Tarapur numbers are derived from a Chapman Petroleum Engineering Ltd. Report produced for GeoGlobal
Resources Inc. dated January 1, 2010 (as at December 31, 2009) and was prepared in accordance with the guidelines of
Regulation S-X, Rule 4-10(a) of the Securities and Exchange (SEC) Act.
The numbers provided above represent GGR’s share of the reported numbers.
Basin Field ProvedProved Plus
Probable
Proved Plus Probable
Plus Possible
Oil Reserves (Thousand Barrels (MBbls))
Tarapur Tarapur 1 117.60 630.70 630.70
Gas Reserves (Million Cubic Feet (Mmcf))
Tarapur Tarapur 1 88.5 784.1 784.1
Basin Field ProvedProved Plus
Probable
Proved Plus Probable
Plus Possible
Oil Reserves (Thousand Barrels (MBbls))
Tarapur Tarapur 1 117.60 630.70 630.70
Gas Reserves (Million Cubic Feet (Mmcf))
Tarapur Tarapur 1 88.5 784.1 784.1
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CAPEX Program (US$MM)
2010 2011 +
P.I.
%
Budget $ Commitment $ Total
Tarapur 14-20 Tie-ins 0.0 Development Drilling 0.0 0.0
Cambay 10 3 exploratory wells & 4 workovers
0.8 Appraisal & development drilling 0.0 0.8
DS 100 535 LKM of 2-D seismic & aeromag survey
3.1 Drill 10 core holes 1.0 4.1
KG Onshore 10 350 sq km of 3-D seismic & 1 exploratory well
2.3 11 exploratory wells 7.2 9.5
Rajasthan 25 6 exploratory wells 5.8 14 exploratory wells 9.5 15.3
12.0 17.7 29.7
2010 2011 +
P.I.
%
Budget $ Commitment $ Total
Tarapur 14-20 Tie-ins 0.0 Development Drilling 0.0 0.0
Cambay 10 3 exploratory wells & 4 workovers
0.8 Appraisal & development drilling 0.0 0.8
DS 100 535 LKM of 2-D seismic & aeromag survey
3.1 Drill 10 core holes 1.0 4.1
KG Onshore 10 350 sq km of 3-D seismic & 1 exploratory well
2.3 11 exploratory wells 7.2 9.5
Rajasthan 25 6 exploratory wells 5.8 14 exploratory wells 9.5 15.3
12.0 17.7 29.7
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Investment Highlights
• Work to unlock the value proven in the KG Offshore and Tarapur Blocks.
• Exciting large potential exploration programs have commenced in our KG Onshore block (3D Seismic Started) and two Rajasthan Blocks (First exploration well spud April 2010).
• Field Development Plan for the KG Offshore Deen Dayal West Development area has been approved. First production being planned for 2013.
• Initial phases of the seismic and interpretation work programs for our Deccan Syneclise Blocks in which we are Operator.
• Sufficient funds available for 2010 CAPEX program.