Focused Growth in the Williston Basin Enercom: The Oil and Gas Conference 19 OTCQB: ANFC August 19, 2014
Black Ridge Overview Well Positioned to Take Advantage of Current Phase of Development in the Williston Basin Pure Play Bakken / Three Forks Non-Operator Production is 90% oil Approximately 10,000 net leasehold acres Non-operator…
Evolution of The Williston Basin Phase 1: Land Grab, 2007 - 2009 Leases in heart of play acquired for < 500/acre, 3-5 year terms, 81.25% NRI Prolific Estimated Ultimate Recoveries (EURs) in Parshall and Sanish fields resulted in high…
Why The Non-Operator Business Model Ability to selectively invest in the highest return projects, without the need to control a drilling unit Knowledge and data from over 300 gross wells to make capital allocation decisions Low…
Black Ridge Oil & Gas Strategy Deal Flow with Near-Term Development Reporting, Controls, Regulatory Compliance Disciplined Investment Capital Availability Decisions and Asset Management Cash Flow: IRR 30%…
Liquidity Senior Secured Revolving Credit Facility Subordinated Term Loan 50 MM 75 MM 20 MM Current Borrowing Base 35 MM Current Availability LIBOR + 300 bps to LIBOR + 350 bps LIBOR + 900 bps cash, 400 bps PIK depending upon…
Executing Our Growth Strategy 10 Black Ridge Oil & Gas Net Wells (as of 7/31/14) Ratio of net wells drilling to 9 net wells producing 8 1.8 7 Leading indicator for 6 production growth 5 6.4 net wells producing 4 6.4 1.8 net…
Production Growth Driving Cash Flow Growth Black Ridge Oil & Gas Adjusted EBITDA(1) 4.0 3.6 3.5 3.0 2.5 2.4 MM 2.0 2.0 1.7 1.5 1.2 1.0 1.0 0.5 0.0 (1) Adjusted EBITDA is a non-GAAP financial measure.…
Strong Asset Base Driving Growth Year End 2013 Reserve Summary Oil Gas Total SEC PV-10 Reserve Category (MBbls) (Mmcf) (MBOE) (MM) PDP 895 615 998 32.38 PDNP 32 38 38 1.61 PUD 3,147 2,126 3,502 40.39 Total Proved Reserves…
Compelling Valuation vs. Peer Group(1) Enterprise Value / EBITDA(2) 1H 14 Production Growth over 1H 13(3) 14.0x 180% 12.9x 160% 156% 12.0x 140% 136% 10.0x 9.8x 120% 8.1x 8.1x 8.0x 100% 6.7x 6.9x 86% 80% 6.0x 5.6x 5.1x…
Corral Creek Dunn County, ND North Dakota Montana T147N R95W T147N R94W T147N R93W Corral Creek Unit Lincoln Gorhman 30,884 Gross Acres 2748 Gross Acres 1280 Gross Acres 0.77% Working Interest (WI) 6.43% WI 19.34% WI Hansen…
Stockyard Creek - Williams County, ND Eight Gross (0.67 Net) Wells Producing North Sail & Anchor 4-13-14HBK Dakota Coopers 2-15-14HBK Montana Tooheys 4-15-14HBK Little Creature 1-15-14HBK Blackdog 3-13-14H E Rennerfeldt 1-13H E…
Mandaree McKenzie County, ND Operator: EOG Resources Antelope Prospect Five Gross (0.62 net) Wells Drilling, Expected Production Q4 14 Mandaree 17-05H Mandaree 135-05H North Dakota Mandaree 110-05H Montana Mandaree 134-05H…
Executing Growth Plan Focused on Growing Production, Reserves, Cash Flow and Shareholder Returns Future Today Deploying full 125 MM Completed Financing, 81 MM available for acreage putting capital to work acquisition and well…
Why Invest Company is executing 1H 14 Production growth of 136% over 1H 13 Strong cash flow generation: 6.0mm Adjusted EBITDA in 1H 14 Pure play Bakken / Three Forks non-operator with 90% oil- weighted production Liquidity to…
For More Information www.blackridgeoil.com Ken DeCubellis Chief Executive Officer ken.decubellisblackridgeoil.com 952-426-1241 Stay Up to Date on Black Ridge Oil & Gas www.blackridgeoil.com 17
Appendix www.blackridgeoil.com 18
Reconciliation of Net Income to Adjusted EBITDA Black Ridge Oil & Gas, Inc. Adjusted EBITDA by Quarter Three Months Ended March 31, June 30, September 30, December 31, March 31, June 30, 2013 2013 2013 2013 2014 2014 Net income…
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