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ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc.

Vaalco Energy Inc. · Feb 18, 2014 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 1
    EnerComs Oil and Services Conference February 18 19, 2014 San Francisco Steve Guidry, CEO NYSE:EGY
  2. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 2
    VAALCO: Poised for Growth Strong high margin base business Near term low risk growth opportunities Balanced long term growth strategy Discovered Resource Acquisition Strong Current West Africa Etame Marin Exploration Program…
  3. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 3
    West Africa Focus Block P Working Interest 31.0% 57,000 gross acres 18,000 net acres Bata Offshore Exploration & Development EQUATORIAL GUINEA Mutamba Iroru Permit Working Interest 41.0% 270,000 gross acres 111,000 net…
  4. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 4
    VAALCOs Profile Key Metrics Share Price(1) 6.65 52wk Range(1) 5.03 - 9.06 Market Capitalization(1) 378 MM Cash Balance (Unrestricted)(2) 100 MM Revolving Debt Facility (Undrawn) (1) 65 MM Production (Net)(1) 4,400 BOPD Reserves…
  5. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 5
    Efficient Reserve Replacement, Etame Marin Permit Cost Metrics (2002-2013) Development Costs 14 /BBL Exploration Costs 3 /BBL DD&A 9 /BBL Gross Production Gross GrossEUR 1PReserves EUR 1P Reserves 120.0 100.0 1P Reserves…
  6. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 6
    VAALCOs Reserves, Etame Marin Permit 3P Reserves (MMBO) Proved Probable Possible Reserves Breakdown (As of 12/31/2012) (1) Proved 7.45 MMBO 27% Probable 3.76 MMBO 48% Possible 4.21 MMBO 25% MMBO TOTAL RESERVES 15.42 (1)…
  7. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 7
    VAALCOs Margin per Barrel, Etame Marin Permit Net Cash Flow Breakdown, Per BBL Net Cash Flow Breakdown, Per BBL 9 Months Ended 2013 108 Royalty OPEX Workovers G&A Taxes (Profit Oil) DD&A Margin (13%) 110 100 33 90 Margin 13% 80…
  8. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 8
    Oily and Leveraged to Brent Realized Oil Price Per BBL Oil / Gas Production Compared to Brent BBL (2012) 100.00% 115.00 of Production 110.00 80.00% 105.00 Total % Rev/Bbl 60.00% % Gas 100.00 40.00% % Oil 95.00…
  9. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 9
    Development Projects 10
  10. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 10
    Offshore Gabon Etame Marin Permit Operator with a 28.1% net W.I. Ebouri Partners: Addax, Sasol, Tullow, Sojitz and PetroEnergy Oil production - 18,000 BOPD gross (1) 4,400 BOPD net(1) Etame Cumulative production through 2013 -…
  11. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 11
    Etame Expansion Project New Etame Platform 175 MM gross investment in the new platform (49 MM net) 4 pile, 8 slot platform in water depth of 85 meters Initial 3 well development 25 MM gross per well (7 MM net per well) Develop…
  12. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 12
    South East Etame / North Tchibala (SEENT Project) New SEENT Platform 150 MM gross investment in the new platform (42 MM net) 4 pile, 8 slot platform in water depth of 85 meters Initial 3 well development 25 MM gross per well (7…
  13. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 13
    Offshore Gabon: Dimba Prospect Spud December 2013 3,000m well depth Gamba primary target Dry Hole Cost - 19 MM gross (8.5 MM net) Lucina secondary target Gamba 5-35 mmbo gross recoverable 53m water depth Lucina 4-81 mmbo gross…
  14. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 14
    Onshore Gabon: Mutamba Iroru Permit Shell Rabi Kounga Field VAALCO operated with 41% Cum: 840 MMBO EUR 900 MMBO working interest NGongui discovery well drilled in Rabi Kounga Pipeline Q4 2012 Encountered 49 feet of oil pay in…
  15. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 15
    Exploration Projects 16
  16. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 16
    Offshore Angola: Large Pre-salt Structures in the Kwanza Basin VAALCO VAALCO Block 5 Loengo Prospect VAALCO VAALCO Mobil Cobalt Cobalt Cobalt Cobalt Cobalt Prospect Lead Discovery Discovery Discovery Prospect Discovery Discovery…
  17. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 17
    Offshore Angola: Block 5 Prospects and Leads Kindele Prospect (Post Salt) Block 5 Jack Prospect (Post Salt) WD=101m Gross Potential=20-49 MMbls WD=75m Gross Potential=22-55 MMbls Mubafo Discovery SW NE SW NE Atlantic Ocean…
  18. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 18
    Offshore Equatorial Guinea: Block P Marathon 1,100 mmboe Equatorial Guinea Acquired 31% W.I. in 57,000 gross acres (PDA area) in November, 2012 Exxon 2005 discovery Venus 1,300 mmboe VAALCO BLOCK P PDA Working with GEPetrol…
  19. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 19
    Offshore Equatorial Guinea: Block P Block P VAALCO PDA PDA Exploration Play Types Boundary 57,000 acres SW Grande 232 km2 Marte A Marte 16-70 MMBO Atlantic Ocean Atlantic SW Grande 10-180 MMBO Venus Field 17 - 21…
  20. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 20
    VAALCO 2014 Capital Budget Development Gross VAALCO millions millions Etame Facilities 210 60 Drilling Campaign 24 7 Exploration Angola 3-D Seismic 7 3 Loengo 54 27 EG S.W. Grande 40 12 Gabon Dimba 21 8 Total Exploration +…
  21. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 21
    VAALCO Schedule of Milestones Drill Dimba Set Etame / SEENT Platforms Ebouri Crude Sweetening Project Pre-feed Development Drill Development Wells 3 Etame Wells 3 SEENT Wells 3 Ebouri Wells Process Angola Seismic Drill Block P…
  22. ENERCOMS OIL AND SERVICES CONFERENCE – Vaalco Energy Inc. – slide 22
    VAALCO Summary Strong high margin base business Stable production profile 100% operated 98% oil leveraged to Brent Near term low risk growth Near field development opportunities Projects on time, on budget Attractive project…

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