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Winstar Resources Ltd
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Corporate Profile, May 2008
| Charles de Mestral | Page 1 of 11 |
April 18, 2024
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CORPORATE PROFILE mAy 2008 TSX: WIX TUNISIA HUNGARY HUNGARY INKEFIELD Est. 97 Bcf TOROKKOPPANY 5.66 BCF REC.RES IP6.8 MMcf/d BADENIAN LST Torokkoppany mining plot area net 77,000 acres MEZOCSOKONYA FIELD EST. 154 Bcf + mmbo IGALII area net 491,520 acres MARCALI PANNONIAN FAIRWAY = LEADS = SEDIMENT FLOW ROMANIA ROMANIA SATU MARE SATU MARE Santau 1 – tested 1,341 mcfd and 42.4 bopd from Basement to Pannonian Madaras 219 – tested 320-816 mcfd from Sarmatian and 210 bopd from Badenian Moftinu 950 – tested 178- 639 mcfd from Pliocene ORDOVICIAN: SABRIA (TUNISIA) SABRIA OIL FIELD (10 miles by 4 miles) OOIP: (P50) 346,000,000 bo (P90) 230,000,000 bo Cumulative production = 2.9 mmboe or approximately 1% of resource (1999-2007) UPSIDE: 1. 2. Target 10 to 15% recovery factor or more, require 10 to 30 additional development locations Po ss ib le O W C F A U L T F A U L T F A U L T 4 Producing Wells 2 Suspended Wells 0 1 2 3 4 5 km Es tim at ed Re se rv oi r E ro si on al Ed ge © ? SB NW 1 SB W 1 SB N 3 SB N 2 SB N 1 Sabria 11 Potential 500 net boepd per well 45% working interest Winstar Resources is focused on finding and producing crude oil and natural gas in Tunisia. Winstar also has large undeveloped land holdings with high- impact gas potential in Hungary, large undeveloped land offsetting significant oil and gas fields in Romania and low decline crude oil and natural gas producing assets in Alberta. Winstar Concessions Chouech Essaida Ech Chouech Sanrhar Zinnia Sabria TRIASSIC/DEVONIAN/SILURIAN: CHOUECH ESSAIDA & ECH CHOUECH (TUNISIA) ’ 1 ’ ’ ’ ! ! 6 " M U L T IP H A S E 4 " M U L T IP H A S E CS-8 CS-9 EC-4 EC-3 EC-2 EC-1 CS-7 CS-6 CS-5 CS-4 CS-3 CS-2 CS-1 ECS-1 EL BORMA RECEIVING FACILITY 80KMCS-5 (Flowing) Recompleted Dec '07 IP: 1000 bopd Current Prod: 65 bopd Cum Prod: 125 mbbls CS-8 Current Prod: 260 bopd Cum Prod: 10 mbbls CS-9 New Location (Contingent) Spud Date Q2 2008 CS-7 (High Vol. Pump) Current Prod: 125 bopd Cum Prod: 95 mbbls CS-1 (Flowing) Upper Zone: 320 bopd Cum Prod: 125 mbbls Middle Zone: 3 mmbbls to date 200 bopd potential Lower Zone: Tested 400 boepd CS-3 (High Vol. Pump) Current Prod: 180 bopd Cum Prod: 73 mbbls Devonian Ouan Kasa Oil and Gas Shows EC-1 (Shut In) Produced 164,000 bo To Be Reactivated Triassic TAGI Sandstone Oil Field Devonian Ouan Kasa Sandstone Oil Field Tunisia - Algeria Border Silurian Potential: Ech Chouech & Chouech Saida 2D Seismic Leads Based on residual map of Ordovician Horizon *leads will change once 3D is completed 4H-12 *Sliurian structures are identified from Ordovician map – Ordovician horizon can be mapped with much higher confidence Silurian 2D seismic leads • Triassic/Devonian: Five to eight development locations with potential of 250 to 1,000 boepd per well • Silurian: One to four high-impact exploration locations with potential of 1,000 to 3,000 boepd per well 0 0 250 miles 250 km 0 0 250 km 250 miles 0 0 80 km 80 miles 0 0 10 km 0 10 km 0 0 10 km 0 5 km 100% working interest 25,695 gross acres SABRIA OIL FIELD (10 miles by 4 miles) OOIP: (P50) 346,000,000 bo (P90) 230,000,000 bo Cumulative production = 2.9 mmboe or approximately 1% of resource (1999-2007) UPSIDE: 1. 10 to 30 development locations (2008 to 2015) 2. Pool extension to the east 3. Target 10 to 15% recovery factor or more Po ss ib le O W C F A U L T F A U L T F A U L T 4 Producing Wells 2 Suspended Wells 0 1 2 3 4 5 km Es tim at ed Re se rv oi r E ro sio na l E dg e © ? SB NW 1 SB W 1 SB N 3 SB N 2 SB N 1 Sabria 11 Max. 60% after earned working interest100% working interest 568,520 net acres 728,710 gross acres 85,984 net acres