Delivering Shareholder Value NASDAQ: MPET February 2013
The Company Independent upstream oil and gas company Publicly listed traded on the NASDAQ since 1972 (ticker MPET) Market cap: 56 m (7 Feb) Headquartered in Denver, Colorado 37 employees globally Under new management since…
Investment Considerations Exploration and development company Control of core assets with existing production and three high- 100% ownership Poplar CO2-EOR growth assets 100% ownership of Australian assets Favorable market…
Reserves Overview1 Proved Reserves PV-10 ( m) 21% 27.3 10.8 130.1 m MMboe 12% 15.6 67% 87.2 PDP PDNP PUD PDP PDNP PUD Oil / Gas Proved Reserves Ratio Proved Reserves by Geography 18% 18% 10.8 10.8 MMboe MMboe 82%…
Experienced Leadership Robin West (66) Chairman Tom Wilson (60) CEO Founder, CEO of PFC Energy Former President of KMOC and Anderman Former Reagan Administration Assistant International Secretary of the Interior (1981-83), Former…
Poplar 22,000 net unitized acres ANALOGOUS CO2 EOR PROJECTS1 covering the largest geologic structure in the western Williston Basin Substantially all of the acreage held by production The Charles formation is a prime candidate…
Poplar Charles Approximately 275 bbls/day CO2 EOR: pilot project in FY13 Bakken / Three Forks / Nisku VAALCO test well results pending Other development opportunities Amsden: New oil pool discovery Jan 12 Tyler: 4 current wells…
CO2 Enhanced Oil Recovery Evidence points to Charles formation being Development milestones for de-risking project a prime candidate for a CO2 enhanced oil recovery (CO2-EOR) program Lab tests Conducted by Core Laboratories…
CO2-EOR Analogs Poplar analogous to Midale and Weyburn, Recovery Potential two oil fields with highly successful CO2- EOR projects in northwest Williston Basin Similarities include: Formation 53% Reservoir type 63% Fractures 80%…
Poplar VAALCO Farm-Out VAALCO farm-out in Sep Obligation Wells 2011 to explore and EPU 120 EPU 133-H EPU 125 develop deeper formations at Poplar Timing Completed Q1 Completed Q3 Spud Dec 2012; 2012 2012 comp. exp Feb 100% carry…
Australian Onshore Assets Palm Valley 11 Bcf of proved gas reserves and 14 Bcf of probable gas reserves PV-10 8.6MM 100 m revenue contract over 17 years with pricing upside 100% owner / operator 145 km SW of Alice Springs…
NT/P82 Long term development opportunity 2 potential prospects Potential reserves of approximately 1 to 3 Tcf 100% working interest 3D seismic survey is under contract for Q2 FY13 Seismic survey data analysis expected to be…
UK Shale 200,000 net acres 11 licenses Celtique operated (50%) In December 2012, England lifted its moratorium Acquired 175 km 2D seismic in on fracking, which had prevented the development July 2011 of shale resources in the country…
Operational Milestones FY2013 Milestone Cost FY2014 Mar Jun Poplar CO2 EOR 5-well pilot 10 m VAALCO/Deep Rights test wells - Charles formation water-shutoff testing 1 m Australia NT/P82 3D seismic 5 m Palm Valley new gas…
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