Investment Highlights Alaska Operations Overview Proven Track Record Miller has continued to grow production in Alaska for past 3+ years Growth Visibility Expected FY14 exit rate of 6,000 boe/d Low Risk Path to Production Growth…
Asset Overview Existing Alaskan Operations Approximately 3,249 boe/d of production at 12/31/13 Significant development opportunity through 3P Osprey platform designed for 21 wells producing 25,000 boe/d with additional Capacity for 13…
Shareholder Value With Milestones Historical Stock Price Performance 2008-Present; /share (closing price) 1. Scott M. Boruff joined as 10.00 14 CEO 2. Acquired KTO assets 15 3. Acquired ETC 7 13 16 4. Acquired Alaska Assets 8.00 12…
Production Historical and Forecast Production (Calendar Year Exit Rates Except for 2014 FY End Forecast) 2009-2014 Fiscal Year End; Gross volumes - boe/d 6,000 6,000 4,000 3,496 Realized CAGR of 73% 2,000 1,430 1,260…
Reserves - Proved with Upside (excludes North Fork Acquisition) Ralph E. Davis Report Dated April 2013 Total Reserves Proved Reserves 54.8 MMBOE 8.4 MMBOE SEC Case: PV-10 1.4 Billion SEC CASE: PV-10 367.2MM Large Drilling…
Reserves Proved Developed (Including North Fork Acquisition) Ryder Scott Reserve Report Dated December 2013 Total Proved Developed Composition of Total Proved Developed Reserve Volumes Reserves (in mboe) 8.4 MMBOE 8,000 SEC Case:…
North Fork Acquisition Closed 100% working interest in 185 million of Proved and Probable PV-10 Probable SEC PV-10: 93.1 Million Total Proved SEC PV-10: 92.3 Million Includes six (6) natural gas wells, production and processing…
Acquisition Financing Closed a 175 million second lien credit North Fork Acquisition facility with Apollo Investment (in millions) Capital Sources Corporation and Highbridge Principal (in millions) Strategies on 2/3/2014 nd Apollo…
Tax Friendly Environment Osprey Rig 35 Strong Incentives Exist for Development in Alaska Tax Incentives & Commodity Prices No severance tax on oil Oil contracts based on ANS pricing (premium to WTI, similar to Brent) Fixed contract…
Operational Update & Capital Budget Redoubt Shoals Osprey Well Room Moved rig over to service RU-7 and drill RU-9, oil wells Adding perforations on RU-7 Plan to drill RU-9 immediately following RU-7 work over West McArthur River and…
Investment Summary 4 Distinct producing fields Redoubt, WMRU, North Fork, TN Significant Asset Base 54.8 MMBOE of P1, P2 and P3 Reserves (per R.E.D, excluding North Fork) 1.4 Billion of PV-10 (per R.E.D., excluding North Fork)…
Appendix Dynamic High Growth Leader
Management Bios Deloy Miller - Mr. Miller, our founder, has been Chairman of the Board of Directors since December 1996, and was CEO from 1967 to August 2008, and COO from August 2008 to July 2013. Since then, Mr. Miller has been…
Miller Thesis Original Completions Optimized ORIGINAL COMPLETION: OPTIMIZED COMPLETION: RESTRICTED FLOW PATH UN-RESTRICTED FLOW PATH Highlights Completed optimization on RU-7 Flow rates increased over 100% Annual decline curve…
Alaska Redoubt Unit Field (Osprey) Highlights Proved, producing field with existing infrastructure 100% working interest Average Porosity: 11-13% Average Annual Decline: 10% (Miller) Average New Well CapEx: 10 million (Net)…
Redoubt Shoal Hemlock Structure Map Highlights Positive DST tests in North & South Step Outs in 1960s RU-1 drilled in Central fault in 2001 1,089 IP & 10 mmbbls PUD RU-2 drilled in South fault 2002 1,954 IP & 40 mmbbls PUD…
Alaska - West McArthur River Unit Highlights Proved, producing field with existing infrastructure 100% working interest Average Porosity: 11-14% Average Annual Decline: 10% (Miller) Average New Well CapEx: 9 million (Net)…
Contact Information Miller Energy Resources, Inc. 9721 Cogdill Road, Suite 302 Knoxville, TN 37932-3425 Phone: 865-223-6575 infomillerenergyresources.com www.millerenergyresources.com Investor Relations MZ Group - North…
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