1

Trinidad Energy ChamberNeil Ritson

19 November 2014

London (AIM): LGO

2

Company Profile

Trinidad

Spain

London HQ

London Stock Exchange - listed on AiM, 2007Producing Oilfields - Trinidad and Spain

Staff - 52 (All local)Net Production Capacity - approx. 1200 bopd 2P Reserves - 7.6 mmbblsMarket Cap - ~£120 million

3

Management and Board of Directors

Chairman Steve HortonHolds a BSc in Mining Engineering and an MBA. He has 35 years experience working in the energy industry including 27 years with BP plc where he held executive roles including worldwide Director of Drilling. He co-founded Silverstone Energy Limited in 2005.

Chief ExecutiveOfficer

Neil RitsonHas a BSc in Geophysics. He has worked in the energy sector for over 35 years, initially with BP plc for 23 years before managing the international operations of Burlington Resources Inc. before founding the Vanguard Energy Group where he was Chairman and CEO.

Chief Operating Officer

Fergus JenkinsIs a Chartered Engineer with a BEng in Mining Engineering and a MEng in Petroleum Engineering. He has over 20 years of experience working in industry, initially in mining before moving to petroleum, where he has worked for Enterprise Oil, LASMO, OMV (UK) Ltd and Afren plc.

Finance Director James ThadchanamoorthyHas a degree in Chemistry and is a qualified accountant. He has 18 years’ experience, including over 10 years spent at BP where he held a number of commercial and finance leadership positions.

Non-ExecutiveDirector

Iain PatrickIs a lawyer with over 30 years’ experience in the international oil and gas industry. He joined Monument Oil and Gas plc in 1988 where he was Commercial director until its sale in 1999. Subsequently Mr. Patrick was Commercial Director of Gulf Keystone Petroleum (UK) Limited.

Non-ExecutiveDirector

Michael DouglasMr. Douglas has worked in the business consultancy sector for 40 years. He was a Managing Partner for PA Consulting and in 1993 Mr. Douglas founded the Quo Group, a consultancy specializing in behavioral change, performance and talent management, and executive coaching.

4

Share Price

Share price has:• Increased by over 10 fold since acquiring the Goudron Field• Outperformed the AIM Total Return in 2014 by > 350% in the last year

AIM Total Return

KEY HeritageLGO Share Price

Goudron

drilling

underway

Well GY-664

on production

Completion of

GY-665

Nov 2013 March 2014 July 2014Jan 2014 Sept 2014May 2014

% C

hang

e

100%

200%

400%

300%

500%

600%

Nov 2014

Fall in oil price,

bear market

Goudron

drilling

plans announced

5

SPAINAyoluengo Field, Cantabrian National Park, Spain

6

Spanish Assets

ASSETS: Ayoluengo Oilfield (Discovered 1964)• Oil in place 104 mmbbls• Production concession renewal in 2017• Deepen to the proven Liassic reservoirs

Hontomin Oilfield (Discovered 1968)• Test production only to date• Development as a satellite to Ayoluengo • Awaiting a production concession

Tozo Gas Field (Discovered 1965)• Test production only• Development as either a micro-Compressed

Natural Gas or a Gas-to-Wire project

AYOLUENGO OIL FIELD

HONTOMIN OIL FIELD

TOZO GAS FIELD

OVERVIEW:• Only producing oil filed in Spain discovered in 1960’s, produced 18 mmbbls• Current production 100-200 bopd• Where LGO leant how to operate

7

TRINIDAD

8

Trinidad Management Team

Country Manager Alex AlmandozHighly experienced drilling and workover operator. Managing Director od Altech Services since 1994, operating 5 workover rigs with capability to 8,000 feet. Perviously Operations Manager for Terra Mar. Worked with Halliburton on coiled tubing operations from 1987 to 1991.

HSE Manager Zameer RahamanExperienced HSE professional with over 25 years working in the HSE sector of the energy industry previously worked with Primera, The Offshore Drilling Company and Bechtel on land and marine operations in Trinidad.

Senior Petroleum Engineer

Rabindra HarricharanHas a BSC in Petroleum Engineering from UWI and has worked for over 24 years in the oil sector with Primera, Barbados National Oil Company and Petrotrin. Extensive experience with artificial lift, stimulation, coiled tubing and EOR technologies.

Drilling Engineer Vishan BeharryHolds a MSc in Petroleum Engineering and a BSc in Physics from UWI. More than 15 years experience in the drilling sector working with Sadhna Petroleum, CoPetrol, Baker Hughes Inteq and WASA

Non-ExecutiveDirector

Winston BoodooA geologist with more than 37 years of varied international experience gained working for Total, Elf, Occidental Petroleum and Petrotrin. Holds a BSc and MSc in geology from the University of Wyoming

Senior Consultant Tim GabrielHas over 40 years of hydrocarbon geoscience experience working for a wide range of Trinidad focused companies including Primera, Petrotrin, Trinyopex (where he was Chief Geologist) and Texaco. In recent years has worked as a consultant for clients including Niko Resources

9

LGO’s Trinidad Assets

Three asset areas in the prime hydrocarbon play zone:• Goudron IPSC (100%) with 2P reserves of 7.2

mmbbls and over 60 mmbbls of contingent resources associated with a future water flood. Active production growth from a 30 well infill development drilling programme now drilling well seven

• Icacos Field in the Cedros Peninsula (50%, non-operator), producing ~35 bopd from three wells. Future opportunities for infill and redevelopment

• Over 7,500 acres of largely unexplored 100% owned private oil leases in the Cedros and in rights held in partnership with Beach Oilfield Limited

• HOA signed for acquisition (100%) of Trinity-Inniss Field. Existing production of 140-150 bopd from 25 active wells with immediate new and infill wells upside

GOUDRONIPSC

TRINITY- INNISSAQUISITION

CEDROSLEASES

10

Goudron Field Overview

• Goudron is located in Guayaguayare and produces light oil (averaging at least 38 oAPI)

• Discovered in 1927 the field has a long history, but only limited production with less than 5 mmbbls produced

• 154 wells were drilled before 1981, last previous well GOU-1/2 in 1991/2; LGO started drilling in April 2014

• LGO acquired the IPSC in October 2012 and has since then:

• Conducted over 70 well reactivations• Carried out several recompletions• Drilled 7 new wells in a 30 well redevelopment• Placed 5 wells on stream (as @ end Oct 2014)

• Production has already increased from 30 bopd to over 900 bopd and is set to exceed 1,000 bopd in late 2014

Goudron well GY-257 Reactivated 2012

SITE ROADS

Goudron Phase 1: Infrastructure

• Located in the remote primary forests of the Trinity Hills Wildlife Sanctuary

• Limited work undertaken over last 30 years

• LGO has:• Increased sales tank capacity 5-fold• Refurbished previous tank facilities• Repaired bridges and roads• Installed a new communications• Extended and restored electrical power• Constructed new water treatment facilities

• Created a platform for future growth

11

• Commissioned facilities with:• offices• workshops• stores• hot-work area• crew rest area• accommodation

• All key infrastructure is now in place for the 30 well drilling campaign now underway and capacity for oil production up to ~ 2,000 bopd

Workshops

Sales Tank Battery #34

New Infill Wells

Existing Wells

Production at C-sand level

12

Phase 2: Infill Development Drilling

• Infill locations selected to have low risk of finding oil pay based on offset wells

• Where upswept oil is predicted to be present by comparison with nearby wells

Well 188

Well 664

Well 64

Well Name Spud TD (MD) FT TDGoudron Net ft pay

C-Sand Net ft pay

Completion FormationOpenhole Flowrate

bopd

1 GY-664 28/04/2014 4,212 13/05/2014 192 300 30/05/2014 Gros Morne 490

2 GY-665 27/05/2014 2,750 08/06/2014 195 256 15/09/2014 Gros Morne 700

3 GY-666 16/06/2014 3,357 03/07/2014 185 237  18/9/2014 Gros Morne 300

4 GY-667 10/07/2014 4,006 10/07/2014 187 247  27/9/2014 Lower Cruse 220

5 GY-668 09/08/2014 3,026   27/8/2014  191  254  23/9/2014 Gros Morne 330

6 GY-669 05/10/2014 3,505 24/10/2014 227 248

7 GY-670 28/10/2014 4,300 9/11/2014  206 242      

2360

13

Well results to date:

Goudron Drilling Status (@ 19th Nov 2014)

PRODUCTION LIMITED by 8/32” CHOKE

~ 750 bopdConstrained Flow Rate

Drilling to date:• 7 of the 30 new wells have been drilled, #8 is drilling• 5 new wells are currently producing, GY-664 to 668 • GY-667 is to be recompleted in the Gros Morne (approved)• GY-669 and GY-670 are awaiting completion (late 2014)• Well GY-671 is currently drilling from the third drill site

0 10km

Gy-664

Gy-665

Gy-666Gy-667

Gy-668

Gy-670

Gy-671

Gy-672

Gy-669

GY-664

14

Goudron Phase 3: Water Flood

• Local analogue at Beach-Marcelle Field recovered approximately 30 mmbbls

• Wealth of local experience in Trinidad

• Over 60 mmbbls of 3C (contingent) resources

• Existing study for > 4,000 bopd capacity. New scoping studies starting now

• Collection of critical data during current drilling phase

• LR Senergy have been engaged to lead the technical work

15

Goudron Production Forecast

• Continue with Phase 2 primary recovery drilling programme; wells 9 to 30

• Initiate a field-wide water-flood to boost production and ultimate recovery

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 -

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Goudron Production Forecast

Base production WF

bopd

16

Expectations to end 2015

• Complete first 8 wells by end 2014

• Build two more drilling pads

• Install a Lease Area Custody Transfer (LACT) meter

• Drill wells #9 through #16 and place them on production

• Complete the ongoing LR Senergy development studies

• Prepare a new reserves report to reflect the results obtained in Phase 1 and 2

• Continue drilling wells #17 onwards

17

Cedros Peninsula

Plans for the Cedros

18

Installing new well tanks• LGO holds rights to over 10,500 acres of largely underexplored leases

• Evaluate all existing data and wells. Only deep well found oil

• En echelon trend with the Soldado offshore fields complex

• Acquired a micro-seepage survey in 2014

• Flying a high resolution gravity and magnetics survey in late 2014

Block of oil impregnated Herrera Sandstone from Galpha Point

19

2D Line 901203D Inline 290

Why use airborne gravity?

• Long regional 2D lines of moderate quality

• Marked lack of success with the 3D method

• Extensive global success in combining FTG and 2D seismic

Airborne FTG Survey

20

Installing new well tanks• Survey to be flown in late 2014 by ARKeX Limited (www.arkex.co.uk)• First use of Full Tensor Gravity Gradiometry in Trinidad• Multi-client survey: current participants are Petrotrin and LGO Energy

21

Future

Where does this lead…

22

Installing new well tanks

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20280

2000

4000

6000

8000

10000

12000

14000

16000

Group Production Forecast (Existing Assets)

Spain Base Goudron Trinity-Inniss Spain Invest Cedros

Goudron, including Water Flood

Trinity-Inniss

Cedros (50%)Spain

Trinidad is an ideal place for LGO to do business

23

Delivering Growth through the Acquisition of Proven Reserves & Enhancement of Producing Assets