Morgans Noosa Conference Presentation July 2014 Morgans Noosa Conference Presentation - July 2014
Executive Summary Focused Vertical Producer in Northern Oklahoma Mississippi Lime Company Highlights July 2014 Capitalization, Liquidity and Directors Lease acreage, develop and drill vertical wells targeting the Mississippi Ordinary…
Acreage Overview 8,700 acres outside Ponca City Just beginning the long term field development Highlights Significant acreage yet to be drilled but in a concentrated area with finite geological risk Moving toward greater well…
Substantial Historical Well Data Long history of operations in the surrounding area Highlights The area has been the subject of 100+ years of exploration drilling for oil in a well known oil field Technological advances…
Best Targeted Vertically Large HZ Operators Leaving Formation is poorly suited to horizontal completion Cross Section Showing Substantial Vertical Movement 80ft of vertical variation in mile. Hard to stay in zone…
Located Near Key Infrastructure Co-location with refinery and good gas infrastructure in the area Unlike many of the major oil plays in the US where transport is expensive AOK is well located REFINERY and transport costs are…
Converting Potential into Production Companys activities have ramped up significantly over the last 24 months Daily Gross Flowing Barrel Equivalent per Day New Wells Drilled per Quarter 1,400 14 1,200 12 Net BOE per Day…
Compelling Returns on New Well Capital Given low cost to extract, returns remain attractive at oil prices much lower than today Standard Type Curve for AOK vertical wells. EUR 65K BOE 1,500 6,000 Current Type Curve Economics :…
Type Curve Remains on Target Individual well performance registering generally ahead of type Actual Performance Tracking Ahead of Type. (EUR 65K BOE) 15,000 AVERAGE Type Curve 12,500 10,000 Cumulative BBLs of Oil…
Current Reserve Base Reserve report assumed acreage position of 6,500 acres vs. 8,700 today 31-Dec-13 Reserve Report Discounted Cash Flow Discount Rate (000 USD) 0% 5% 10% 15% 20% PDP 54,781 37,160 29,952 24,755 21,854 PDNP…