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IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Apr 11, 2011 · 38 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. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 1
    NYSE: PHX IPAA-OGIS April 11th - 13th, 2011 Sheraton New York Hotel New York, New York
  2. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 2
    Distinguishing Characteristics of PHX Mineral Ownership Minerals are perpetual Minerals generate better well economics Minerals have a lower inherent risk profile Long Term Dividend Payment History No Shareholder Dilution No Debt…
  3. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 3
    Panhandle Oil and Gas Inc. Profile Non-operating independent oil and gas company with current drilling projects in two Woodford Shales, Fayetteville Shale, Anadarko Basin Granite Wash and other western Oklahoma liquids rich gas and…
  4. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 4
    UNIQUE Operational Strategy Use ownership of 254,500 mineral acres as base, legacy assets Have used mineral acreage ownership to participate with a working interest in the drilling of a significant number of wells Producing working…
  5. IPAA OGIS NEW YORK – 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 70 per acre) Large mineral acreage ownership position allows for diversity in…
  6. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 6
    Financial Highlights- Fiscal 2010 Condensed Balance Sheet September 30, 2010 Current assets 17,358,605 Property and equipment 218,201,797 Less accumulated DD&A (131,983,249) Net property and equipment 86,218,548 Other 1,547,606…
  7. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights-Fiscal 2010 Year Ended September 30, 2010 2009 Revenue 51,938,416 37,272,614 Net income (loss) 11,419,690 (2,405,021) Earnings (loss) per share 1.36 (.29) Net cash provided by operating activities 27,806,475…
  8. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights- First Quarter 2011 Condensed Balance Sheet December 31, 2010 Current assets 14,153,555 Property and equipment 222,885,115 Less accumulated DD&A (135,304,688) Net property and equipment 87,580,427 Other…
  9. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights-First Quarter 2011 First Quarter Ended December 31, 2010 2009 Revenue 9,901,548 12,321,352 Net income (loss) 1,426,849 1,708,378 Earnings (loss) per share .17 .20 Net cash provided by operating activities…
  10. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 10
    Financing 80 million credit facility with Oklahoma banks, maturity November 30, 2014 Current outstanding balance on credit facility; 0 Paid off debt with cash flow (no equity issuance) 35 million borrowing base Natural Gas Swaps…
  11. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 11
    First Quarter 2011 Actual Cost Structure 5.00 4.50 4.00 3.50 3.00 G&A, 0.74 /Mcfe 2.50 LOE/Prod Tax, 2.00 1.15 1.50 1.00 DD&A, 1.56 0.50 0.00 IPAA-OGIS New York, April 11, 2011 12
  12. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 12
    Asset Pyramid Fee Perpetually owned 198,000 open acres, Mineral 56,000 producing or leased acres Acreage Resource/ Non-proved undeveloped reserves on fee Shale Play mineral acres, Fayetteville Shale, Woodford Probable and…
  13. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 13
    10 15 20 25 30 35 40 0 5 12 .29 .20 00 12 .31 .20 01 12 .31 .20 02 12 .31 .20 03 PHX Stock Price History 12 .31 .20 04 12 .31 .20 05 12 .29 .20 06 12 .31 .20 07 12 .31…
  14. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 14
    Operating Highlights Total U.S. mineral ownership of 255,000 acres Superior investment economics Participation as a working interest owner on our mineral acreage generates superior economics. We retain our proportionate share of…
  15. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 15
    1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 500,000 0 12.3 1. 20 05 3.31 .200 6 6.30 .200 6 9.30 .200 6 12.3 1. 20 06 3.31 .200 7 6.30 .200 7 9.30 .200 7 12.3 1. 20 07…
  16. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 16
    Mineral Holdings 120 Significant Mineral Acreage Holdings 100 Net Acres (Thousands) 80 60 40 20 0 OK NM TX ND AR Leasehold IPAA-OGIS New York, April 11, 2011 17
  17. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 17
    Economic Impact of Participation with Mineral Interest Finding Cost, /Mcfe Rate of Return,%(BTAX) Arkansas Fayetteville Shale 2 30 50% Higher 27% 1.8 Assumptions: 25 1.6 1.49 19% Lower PHX ownership - 1% W.I., 1% NRI 1.4 Typical…
  18. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 18
    Reserve Statistics 2010 Exceptional Reserve Growth Record proved reserves at year-end 2010 Fiscal year-end 2010 proved reserves increased to 103.7 Bcfe A 74% increase over 2009 Record 3P (proved, probable and possible) reserves at…
  19. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 19
    Year End 2010 SEC Proved Reserves IPAA-OGIS New York, April 11, 2011 20
  20. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 20
    YE 2010 Proved, Probable and Possible Reserves 21 IPAA-OGIS New York, April 11, 2011
  21. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 21
    Proved Reserve Growth Proved Developed Reserves Proved Undeveloped Reserves 120.0 100.0 41.2 Proved Reserves (Bcfe) 80.0 60.0 9.2 12.8 40.0 6.4 3.6 5.6 62.5 50.3 20.0 41.3 35.5 27.7 28.7 0.0 2005 2006 2007…
  22. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 22
    Probable & Possible Undeveloped Reserve Growth Probable Possible 400.0 350.0 Proved/Possible Reserves, (Bcfe) 300.0 250.0 200.0 200.1 150.0 147.9 75.0 100.0 50.0 86.1 87.4 87.1 0.0 2008 2009 2010…
  23. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 23
    Southeastern Oklahoma Woodford Shale IPAA-OGIS New York, April 11, 2011 24
  24. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 24
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 22% of all producing wells in the play PHX wells primarily operated by Newfield, Devon and BP Current production 8.2 Mmcfe per day…
  25. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 25
    Southeastern Oklahoma Woodford Shale Current Development Area 6,310 net PHX acres 144 PHX producing working interest wells w/6.1% average NRI 48 PHX producing royalty interest wells 3.6% average NRI in 210 sections 1,214…
  26. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 26
    Arkansas Fayetteville Shale IPAA-OGIS New York, April 11, 2011 27
  27. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 27
    Arkansas Fayetteville 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 Southwestern Energy and Chesapeake Current production 5.4 Mmcfe per…
  28. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 28
    Arkansas Fayetteville Shale Current Development Area Current Development Area 7,308 net PHX acres 2.2% average NRI in 249 sections 114 PHX producing working interest wells 1,735 Undeveloped locations w/4.3% average NRI 879 net PHX…
  29. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 29
    Anadarko Basin Cana Woodford Shale IPAA-OGIS New York, April 11, 2011 30
  30. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 30
    Anadarko Basin Cana Woodford Shale Diverse mineral ownership across initial play and expansion areas Interest (WI or RI) in 15% of all producing wells in the play PHX wells primarily operated by Devon and Cimarex Current production…
  31. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 31
    Anadarko Basin Woodford Shale Current Development Area 3,545 net PHX acres 15 PHX producing working interest wells w/5.2% average NRI 4 PHX producing royalty interest wells 2.8% average NRI in 135 sections 1,063…
  32. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 32
    Western Oklahoma Anadarko Basin IPAA-OGIS New York, April 11, 2011 33
  33. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 33
    Anadarko Basin Granite Wash Reserve Study Area 500 net PHX Acres 2.5% average NRI in 30 sections 100 Probable/Possible Undeveloped locations Potential Development Area 10,440 net PHX acres 3.4% average NRI in 355…
  34. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 34
    PHX Western Oklahoma Mineral Holdings IPAA-OGIS New York, April 11, 2011 35
  35. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 35
    Marietta Basin Woodford Shale IPAA-OGIS New York, April 11, 2011 36
  36. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 36
    Marietta Basin Woodford Shale Joiner City Prospect Generated by PHX in 2007 Woodford shale depth of 9,500 100+ section total prospect area 2,700 net PHX leasehold acres 7.3% average W.I. in 58 sections Initial horizontal…
  37. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 37
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 255,000 acres Large drilling inventory in four premier resource plays Anadarko Basin Cana Woodford Shale Arkansas…
  38. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 38

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