Company Snapshot 11.7MMBoe(1) Ryder Scott Proved Reserves 447MM(1) Proved Reserves % Oil 62% North Slope Badami Company Operated % 100%(2) of Net Production AK Lease and Exploratory Acre 620K gross acres(3) Position Cook…
Value Proposition Enabling Investment In Alaska Substantial Hydrocarbon Modern Infrastructure Resources Alaska D&C Funding and Balance Sheet Commodity Price Simplification/Cost of Environment Capital Efficiencies…
Four Distinct Fields Cook Inlet, AK North Slope, AK Redoubt W. McArthur River North Fork (NFU) Badami (Savant) Commodity Type Oil Oil Gas Oil Net Boed 825 Boed(1) 1,450 Boed(1) 1,375 Boed(1) 600 Boed(1) % Net Boed 20% 34% 32% 14%…
Cook Inlet Upper Cook Inlet Lower Cook Inlet Anchor Point Iniskin Exploration License North Fork Unit and Pipeline 6
LT Growth Avenues Area Options Redoubt Hydraulic fracturing Work North fault blocks Sword JV / develop on-own Sabre JV / develop on-own Badami Sell-down Iniskin JV / develop on-own Susitna JV / develop on-own AK M&A Bolt-ons…
Favorable Alaskan Drilling Support and Pricing State Drilling Support Estimated Cash Tax Credit Receipts Through tax credits, the state reimburses MILL in 35 cash for 35% - 65% of its D&C costs and its carried- 30.0 30 forward…
Hedging Hedging Summary Over 80% of current net oil production hedged, outstanding hedges have a MTM value of 47.8MM at 1/16/15 The North Fork Unit has the vast majority of its gas production effectively hedged through ENSTAR and an…
New Management Approach Management CEO: Carl Giesler appointed Sep. 2014; Scott Boruff appointed Executive Chairman CFO: Search firm retained and evaluating several candidates; right more important than fast Board: Haag Sherman…
Path Forward Immediate Remainder C2015 Post C2015 Given oil prices, pivot to gas Maintain conservative drilling With rate dependent on oil Sell gas at 6.50+/Mcf under program prices, accelerate production term contracts Continued…
North Fork Unit Highlights Current capex focus given high contracted gas-prices and 50%+ expected IRRs(1) Proved, producing field with 15.5K acres Lower risk, on-shore drilling 24 Bcf+ in Proved reserves Good quality 3D seismic 5…
Redoubt Unit Highlights Proved, producing field with large four-way structure on the western side of the Cook Inlet On trend with adjacent McArthur River Field (produced over 640 MMBO see top left map) Recent 3rd party OOIP report…
West McArthur River Unit Highlights Proved, producing field 6 mi. north of Redoubt Unit Like Redoubt, on trend with adjacent McArthur River Field (produced over 640 MMBO) 13.3 MMBBO recovered from WMRU to date OOIP estimated at…
Badami Field Highlights Proved, producing field (Badami) east of Prudhoe Bay on North Slope with 18.5K acres Most easterly-located active production facility with capacity Explore value-accretive JV / sale of WI Currently…
Drilling Rigs Rig Terms Size/Type Location Status Future Plans Mgmt. Est. Value Rig-34 Company 750Hp, land Nikiski Stacked Being moved to L48 for sale 3 million Owned based, 6,000' depth Rig-35 Company 2,000Hp, Osprey Transitioning to…
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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