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IPAA OGIS – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Feb 13, 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. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. 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. 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. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 4
    UNIQUE Operational Strategy Use ownership of 255,000 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 – 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. 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. 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. 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. 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 12 million Debt and cash used to finance acquisition of Fayetteville Shale assets in…
  10. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 10
    Fiscal 2013 First Quarter Cost Structure 5.00 Average Sales Price per Mcfe, 4.24 4.00 .54/Mcfe Margin G&A, , 0.63 /Mcfe 3.00 LOE/Prod Tax, 1.20 2.00 1.00 DD&A, 1.87 0.00 IPAA-OGIS Florida, February 13,…
  11. 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. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 12
    Panhandles Mineral Acreage Strategy Results Allowed the Company for many years to generate positive financial results, even during low natural gas price environment Ability to maximize return on Company assets through working…
  13. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 13
    10 15 20 25 30 35 40 0 5 12 .31 .20 02 12 .31 .20 03 12 .31 .20 04 12 .31 .20 Ten-Year Share Price Growth 05 PHX Stock Price History 12 .29 .20 06 12 .31 .20 07 12 .31 .20 08…
  14. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 14
    Operating Highlights Total U.S. mineral ownership of 255,000 acres Substantial advantage of mineral ownership Participation as a working interest owner on our mineral acreage generates superior economics. We retain our proportionate…
  15. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 15
    Quarterly Production (Oil & NGL*) Bbls/Mo 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. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 16
    MCFE 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 0 12 .31 . 20 05 3.3 1. 2 00 6.3 6 0. 2 00 9.3 6 0. 2 00 12 6 .31 . 20 06 3.3 1. 2 00 6.3 7 0. 2 00 9.3 7 0. 2…
  17. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 17
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold IPAA-OGIS Florida, February 13, 2013 18
  18. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 18
    Economic Impact of Participation with Mineral Interest Arkansas Fayetteville Shale 2 Finding Cost, /Mcfe Rate of Return,%(BTAX) 35 1.8 61% Higher 29% Assumptions: 30 1.6 PHX ownership - 1% W.I., 1% NRI 25 1.4 Typical…
  19. 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. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 20
    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 IPAA-OGIS Florida, February 13, 2013 21
  21. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 21
    Proved Reserve Growth Proved Developed Reserves Proved Undeveloped Reserves 140.0 120.0 100.0 50.9 Proved Reserves (Bcfe) 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…
  22. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 22
    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% 62% 40 20 0 Year-End First Quarter 2013 First Quarter 2013 2012…
  23. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 23
    Year-End 2012 Proved, Probable and Possible Reserves IPAA-OGIS Florida, February 13, 2013 24
  24. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 24
    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…
  25. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 25
    Acquisition Strategy and Activity Acquisition Strategy Focus on acquiring both HBP leasehold and un-leased and leased mineral acreage properties in economically depressed dry gas resource plays as well as appropriately priced…
  26. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 26
    Leasing Strategy and Activity Leasing Strategy (Leasing of PHX mineral holdings to active operators) Lease Company minerals in situations where it is clear that the value generated by the lease bonus and royalty will exceed the…
  27. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 27
    PHX Western Oklahoma Mineral Holdings IPAA-OGIS Florida, February 13, 2013 28
  28. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 28
    Western Oklahoma Anadarko Basin IPAA-OGIS Florida, February 13, 2013 29
  29. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 29
    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…
  30. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 30
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle 2012 Wells 2013 Wells IPAA-OGIS Florida, February 13, 2013 31
  31. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 31
    Anadarko Basin Granite Wash Potential Play Extent 10,530 net PHX acres 3.4% average NRI in 355 sections Red outline is Current Development Area Yellow outline is Potential Play Extent IPAA-OGIS Florida,…
  32. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 32
    Anadarko Basin Cana Woodford Shale IPAA-OGIS Florida, February 13, 2013 33
  33. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 33
    Anadarko Basin Cana Woodford Shale Diverse mineral ownership across initial play and expansion areas Interest (WI or RI) in 12% of all producing wells in the play PHX wells primarily operated by Devon and Cimarex Current production…
  34. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 34
    Anadarko Basin Woodford Shale Reserve Assessment Area 3,545 net PHX acres 57 PHX producing working interest wells w/3.0% average NRI 7 PHX producing royalty interest wells 3.8% average NRI in 437 undeveloped WI locations 330…
  35. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 35
    Arkansas Fayetteville Shale IPAA-OGIS Florida, February 13, 2013 36
  36. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 36
    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 14.1 Mmcfe per…
  37. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 37
    Arkansas Fayetteville Shale Current Development Area Current Development Area 10,473 net PHX acres 4.8% average NRI in 800 undeveloped WI locations 459 PHX producing working interest wells 1,205 additional undeveloped RI locations…
  38. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 38
    Southeastern Oklahoma Woodford Shale IPAA-OGIS Florida, February 13, 2013 39
  39. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 39
    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 5.3…
  40. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 40
    Southeastern Oklahoma Woodford Shale Current Development Area 6,518 net PHX acres 163 PHX producing working interest wells w/6.1% average NRI 60 PHX producing royalty interest wells 4.4% average NRI in 897 undeveloped WI…
  41. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 41
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 255,000 acres Large drilling inventory in three premier resource plays plus Oklahoma/Texas oil and liquids rich plays…
  42. IPAA OGIS – Panhandle Oil and Gas Inc. – slide 42
    PHX LISTED NYSE

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