OIL & GAS

ABOUT UNITED TERRA ENTERPRISES OIL & GAS

United Terra Enterprises is a uniquely positioned onshore Albanian oil producer that has been operating in the country since 2012.
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United Terra Enterprises is a uniquely positioned onshore Albanian oil producer, having operated in the country since 2012. Over this period, it has successfully produced over 1.3 million barrels of oil.

The company produces oil from the Visoka oil field and, in June 2018, it formalized heads of terms agreements for three additional fields: Cakran-Mollaj, Gorisht-Kocul, and Amonicë. The combined current production from these four fields amounts to approximately 1,100 barrels of oil per day (bopd). United Terra Enterprises is in the process of finalizing production-sharing agreements that will grant it full rights to produce and develop these new fields, with expected completion by late 2023 or early 2024.

The acquisition of the Cakran-Mollaj, Gorisht-Kocul, and Amonicë oilfields is expected to enable United Terra Enterprises to realize significant synergies and efficiency gains. With the right funding and strategy, the company aims to increase production to over 20,000 bopd. A disciplined investment and development program, coupled with economies of scale and low onshore operating costs, is anticipated to result in the production of high-margin barrels.

United Terra Enterprises boasts a highly experienced management team, widely respected within the industry, and renowned for its proven track record in operating within the realms of both heavy oil and the Albanian oil sector.

BUSINESS LINE OVERVIEW

United Terra Enterprises has been producing oil in Albania since 2012.
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2 operated oil fields

100% working interest in 2 operated oil fields in the Balkan region with 320 bpd **

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Growth

Targeting 3,000 bpd in the short term with further growth to 20,000 bpd planned

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Additional fields

2 additional fields are to be signed for 100% ownership and operated in 2023 ***
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Recoverable reserves

37+ mmbbls estimated 2P recoverable reserves across the 4 fields ***
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GIIP estimate of 31 billion m3 at P50 ***