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APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Apr 15, 2013 · 42 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. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 2
    Panhandle Oil and Gas Inc. Profile Non-operating independent oil and gas company with current drilling projects in the Anadarko Basin liquids rich gas and oil projects, Fayetteville Shale and in three Oklahoma Woodford Shale Plays…
  3. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 3
    Distinguishing Characteristics of PHX Mineral Ownership Minerals are perpetual Drilling on minerals generates better well economics Minerals have a lower inherent risk profile Low Cost Structure Extremely low cost basis in mineral…
  4. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 4
    UNIQUE Operational Strategy Use ownership of 255,000 mineral acres as base Have used mineral acreage ownership to participate with a working interest in the drilling of a significant number of wells Producing working interest in…
  5. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 5
    UNIQUE Operational Strategy (continued) Majority of working interest drilling is on perpetually owned fee mineral acreage (minimal cost per acre, averages approximately 90 per acre) Large mineral acreage ownership position allows for…
  6. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 6
    Financial Highlights - Fiscal 2012 Year Ended September 30, 2012 2011 Revenue 48,532,317 44,976,651 Net income 7,370,996 8,493,912 Earnings per share .88 1.01 Net cash provided by operating activities (not including lease bonus…
  7. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights - Fiscal 2012 Condensed Balance Sheet September 30, 2012 Current assets 11,622,845 Property and equipment 286,816,134 Less accumulated DD&A (165,199,079) Net property and equipment 121,617,055 Other 1,946,830…
  8. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights - First Quarter 2013 Three Months Ended December 31, 2012 2011 Revenue 14,180,435 13,404,333 Net income 2,148,298 3,412,110 Earnings per share .26 .41 Net cash provided by operating activities 7,158,243…
  9. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 9
    Financing 80 million credit facility with Oklahoma banks, maturity Nov. 30, 2014 Current outstanding balance on credit facility approximately 11.5 million 35 million borrowing base Drilling capital expenditures financed by cash…
  10. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 10
    Fiscal 2013 First Quarter Cost Structure 5.00 Average Sales Price per Mcfe, 4.24 .54/Mcfe Margin 4.00 G&A, , 0.63 /Mcfe 3.00 LOE/Prod Tax, 1.20 2.00 1.00 DD&A, 1.87 0.00 11 IPAA-OGIS New York April 15,…
  11. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 11
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres, Probable Fayetteville Shale, Woodford Shales and Granite Wash and (superior economics due to royalty retention) Possible Reserves 5,650 producing wells, 62% of…
  12. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 12
    Panhandles Mineral Acreage Strategy Results Allows the Company to generate positive financial results, even during low natural gas price environment Ability to maximize return on Company assets through working interest…
  13. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 13
    PHX Stock Price History COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Panhandle Oil & Gas Inc, the S&P Smallcap 600 Index, and the S&P Oil & Gas Exploration & Production Index Panhandle Oil & Gas Inc S&P Smallcap 600 S&P Oil…
  14. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 14
    Operating Highlights Rate of Return/Value Creation driven investment philosophy Oil focused 2013 capital allocation Western Oklahoma/Texas Panhandle oil 47.7% Southern Oklahoma Woodford oil 17.5% Permian Basin oil 7.9% Bakken oil…
  15. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 15
    Quarterly Production (Oil & NGL*) Barrels OIL NGL 60,000 50,000 40,000 30,000 20,000 10,000 0 1 1 1 2 2 2 10 11 12 01 01 01 01 01 01 0 0 0…
  16. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 16
    MCFE 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 500,000 0 12. 31. 200 3.3 5 1. 2 006 6.3 0. 2 006 9.3 0. 2 006 12. 31. 200 3.3 6 1. 2 007 6.3 0. 2 007 9.3 0. 2 007…
  17. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 17
    Mineral Holdings 120 Significant Mineral Acreage Holdings Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 18 IPAA-OGIS New York April 15, 2013 Presentation
  18. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 18
    Economic Impact of Participation with Mineral Interest Fayetteville Shale Finding Cost, /Mcfe Rate of Return,%(BTAX) 40 1.4 34% Assumptions: 62% Higher 35 1.2 1.11 19% Lower PHX ownership - 1% W.I., 1% NRI 30 Typical…
  19. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 19
    Reserve Statistics 2012 Exceptional Reserve Growth Proved reserves at year-end 2012 Fiscal year-end 2012 proved reserves increased to 124.7 Bcfe An 11.7% increase over 2011 Record 3P (proved, probable and possible) reserves at…
  20. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 20
    Proved Reserve Growth Proved Developed Reserves Proved Undeveloped Reserves 140.0 120.0 Proved Reserves (Bcfe) 100.0 50.9 44.6 41.2 80.0 60.0 9.2 12.8 40.0 6.4 73.8 5.6 62.5 67.1 3.6 50.3 20.0 41.3 35.5 27.7…
  21. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 21
    Year-End 2012 Reserves and First Quarter 2013 Production and Revenue by Product Gas NGL Oil 100 5% 9% 9% 4% 15% 6% 31% 80 38% 7% 60 91% 85% 40 62% 20 0 Year-End First Quarter 2013 First Quarter 2013 2012…
  22. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 22
    Probable & Possible Undeveloped Reserve Growth Probable Possible 400.0 350.0 Proved/Possible Reserves, (Bcfe) 300.0 250.0 160.9 174.8 200.0 200.1 147.9 150.0 75.0 100.0 156.5 125.1 50.0 86.1 87.4 87.1 0.0 2008…
  23. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 23
    Acquisition Strategy and Activity Acquisition Strategy Rate of Return/Value Creation Driven Focus on acquiring both HBP leasehold and un-leased and leased mineral acreage properties in economically depressed dry gas resource plays…
  24. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 24
    PHX Western Oklahoma Mineral Holdings 25 IPAA-OGIS New York April 15, 2013 Presentation
  25. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 25
    Western Oklahoma Anadarko Basin 26 IPAA-OGIS New York April 15, 2013 Presentation
  26. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 26
    Western Oklahoma and Texas Panhandle Net Acreage The currently active oil and liquids plays within the outlined area include the Granite Wash, Hogshooter, Cleveland and Marmaton 17,100 net mineral acres available for PHX…
  27. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 27
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle 28 IPAA-OGIS New York April 15, 2013 Presentation
  28. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 28
    Anadarko Basin Cana Woodford Shale 29 IPAA-OGIS New York April 15, 2013 Presentation
  29. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 29
    Anadarko Basin Cana Woodford Shale Diverse mineral ownership across initial play and expansion areas Interest (WI or RI) in 10% of all producing wells in the play PHX wells primarily operated by Devon and Cimarex Current…
  30. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 30
    Anadarko Basin Cana Woodford Shale Reserve Assessment Area 3,545 net PHX acres 57 PHX producing working interest wells w/3.0% average NRI 8 PHX producing royalty interest wells 3.8% average NRI in 437 undeveloped WI…
  31. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 31
    Anadarko Basin Cana Woodford Shale Core Red outline is Core Development Area 32 IPAA-OGIS New York April 15, 2013 Presentation
  32. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 32
    Southern Anadarko Basin and Ardmore Basin Woodford 33 IPAA-OGIS New York April 15, 2013 Presentation
  33. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 33
    Arkansas Fayetteville Shale 34 IPAA-OGIS New York April 15, 2013 Presentation
  34. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 34
    Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play Interest (WI or RI) in 22% of all producing wells in the play PHX wells primarily operated by Southwestern Energy Current production 15.6 Mmcfe…
  35. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 35
    Arkansas Fayetteville Shale Current Development Area Current Development Area 10,473 net PHX acres 4.8% average NRI in 800 undeveloped WI locations 465 PHX producing working interest wells 1,205 additional undeveloped RI locations…
  36. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 36
    Southeastern Oklahoma Woodford Shale 37 IPAA-OGIS New York April 15, 2013 Presentation
  37. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 37
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 17% of all producing wells in the play PHX wells primarily operated by Newfield, Devon, BP and PetroQuest Current production 4.8…
  38. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 38
    Southeastern Oklahoma Woodford Shale Current Development Area 6,518 net PHX acres 167 PHX producing working interest wells w/6.1% average NRI 60 PHX producing royalty interest wells 4.4% average NRI in 897 undeveloped WI…
  39. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 39
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 255,000 acres with geographic and product diversity Substantial advantage in capital efficiency due to mineral ownership…
  40. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 40
    Year-End 2012 SEC Proved Reserves SEC Proved Reserves by Reserve Category PDNP 1.9 Bcfe 1.5% PUD 50.9 Bcfe PDP 40.8% 71.9 Bcfe 57.7% 124.7 Bcfe 41 IPAA-OGIS New York April 15, 2013 Presentation
  41. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 41
    Year-End 2012 Proved, Probable and Possible Reserves 42 IPAA-OGIS New York April 15, 2013 Presentation
  42. APRIL 2013 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 42
    PHX LISTED NYSE

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