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MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc.

Parex Resources, Inc. · May 13, 2014 · 32 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. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 1
    AGM 2014 May 13,2014 1
  2. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 2
    Annual Themes Year Theme Delivery 2010 Have a Discovery Kona 2011 Build Cash Flow & Q4: 11,300 bopd & Production 63 MM FFO 2012 Exploration Success Las Maracas + Akira 2013 Achieve Sustainability 2P RLI 5 years 2014 Building…
  3. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 3
    Growing the Runway Q. Great 2013, how do you repeat it 2014 transactions (YTD): 3 new blocks 1 new operatorship Increased interest in 5 blocks 3
  4. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 4
    Parex Exploration Life Cycle Develop Acquire Test Initial Expand Exploitation Concept Land Concept Development Land Traditional LLA-26 3-Ways Cebucan Low Side Cabrestero Closures LLA-34 Stratigraphic Traps LLA-24, LLA-29 &…
  5. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 5
    Capachos Farm-in Cano Limon Ecopetrol partnership ANH royalty contract Large structure, light oil Leverages our strengths: low cost drilling strong operator working with communities Kona 5
  6. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 6
    Verano Acquisition: Property Summary Parex Verano Close Block Maniceo -Bandola WI WI PXT WI LLA-32 Santiago LLA-17 40% 23% 63% LLA-32 30% 40% 70% Carmentea Calona Kananaskis Jilguero LLA-34 45% 10% 55% Max Tigana LLA-34…
  7. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 7
    Re-visit: Progress from last year 2012 2013 Change Production bopd 11,407 15,854 39% 2P Reserves mmbbl 16 32 100% Cash Flow MM 241 270 12% Net Debt MM 15 (22) 37 MM Good RLI (years) 3.5 5.1 Sustainable Land (gross acres) 1.3 MM 1.9 MM…
  8. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 8
    2013 Highlights What drove performance 1. Business Development Cabrestero Acquisition Building Runway Morpho, VMM-11, Cebucan, LLA-24, LLA-26 2. Exploration Success LLA-32 & LLA-34 Cabrestero 3. Top quartile Operator Managing…
  9. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 9
    Operating Capabilities Historical Well Cost (MM USD) 11 9.8 1. Parex operated wells 10 9 2. Based on spud to rig release 8 7 3. Total depth 10,000-13,500 feet 6 5.3 5 4.0 3.7 4 3 2 1 0 Average Days per Well - 1500 HP 2010 2011…
  10. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 10
    5 year Plan Strategic Objectives 1. Provide consistent growth Reserves Production Cash flow 2. Demonstrate Sustainability RLI target 5-7 years Build development inventory 2+ years Sustain exploration prospect inventory 2-3 years 3.…
  11. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 11
    Structures: Progressively Larger Median Llanos Kona Las Maracas Low side closures 100 acres 300 acres 300 acres 500 +1000 acres Bottom water drive Edge water drive Edge water drive Oil Sandstone Water Shale 11
  12. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 12
    Traditional Llanos Bottom Water 12000 9000 bopd 6000 3000 0 0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 Months on Production 12
  13. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 13
    Edge Water Production Profile 15000 12000 9000 bopd 6000 3000 0 0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 Months on Production 13
  14. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 14
    Middle Magdalena Opportunities: VMM-11 1. VMM-11 Builds on Petro Andina success 2. Morpho Morpho Light oil, tight sand 14
  15. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 15
    Morpho Field Producing Colorado Morpho-1 Apolo-1 La Luna (Eocene) Exploration Real 2015 Our Cardium 5000 Over 2000 of gross pay in each of 12000 Colorado the Colorado (Oligocene) and Eocene Eocene Morpho-1 well…
  16. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 16
    Llanos Deep Basin Transition Zone Foothills: large oil & gas structures, +75MM wells Plains: small oil structures, 5-10MM wells Transition Zone Deep Basin: undrilled, +25MM wells Parex target 10-15 MM wells Apply low cost…
  17. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 17
    Llanos Map 2014 Exploration Drilling Diversified and 4 balanced program 3 4 2014 Drill Program 17
  18. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 18
    Parex Exploration Life Cycle Develop Acquire Test Initial Expand Exploitation Concept Land Concept Development Land Traditional LLA-26 3-Ways Cebucan Low Side Cabrestero Closures LLA-34 Stratigraphic Traps LLA-24, LLA-29 &…
  19. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 19
    Working with Communities Speech from Colombian President Juan Manuel Santos: The success of any firm is linked to how quickly they achieve understanding of the environment in which they work and how to achieve simultaneous value creation…
  20. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 20
    Our community partners 20
  21. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 21
    Annual Themes Year Theme Delivery 2010 Have a Discovery Kona 2011 Build Cash Flow & Q4: 11,300 bopd & Production 63 MM FFO 2012 Exploration Success Las Maracas + Southern Llanos 2013 Achieve Sustainability 2P RLI 5 years 2014…
  22. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 22
    Kona-5: Tuscany 109 (May 18) 22 22
  23. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 23
    Annual Themes Year Theme Delivery 2010 Have a Discovery Kona 2011 Build Cash Flow & Q4: 11,300 bopd & Production 63 MM FFO 2012 Exploration Success Las Maracas + Southern Llanos 2013 Achieve Sustainability 2P RLI 5 years 2014…
  24. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 24
    Kona Field (March 2010) Kona-1, Kona Norte Kona-2 Kona-3, Kona-6 Oil treatment plant Sales oil pipeline & road to oil loading facility Kona-4 24
  25. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 25
    Kona Oil Treatment Plant (May 2010) 25 25
  26. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 26
    Annual Themes Year Theme Delivery 2010 Have a Discovery Kona 2011 Build Cash Flow & Q4: 11,300 bopd & Production 63 MM FFO 2012 Exploration Success Las Maracas + Southern Llanos 2013 Achieve Sustainability 2P RLI 5 years 2014…
  27. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 27
    Las Maracas Field 27
  28. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 28
    Annual Themes Year Theme Delivery 2010 Have a Discovery Kona 2011 Build Cash Flow & Q4: 11,300 bopd & Production 63 MM FFO 2012 Exploration Success Las Maracas + Southern Llanos 2013 Achieve Sustainability 2P RLI 5 years 2014…
  29. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 29
    Akira Field Camp and Lab Manifold. Fluid Processing. Storage and Water Processing blend. and Injection. Boiler Area Current rental facility Power Generation 29
  30. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 30
    Portfolio Allows for Reserve Growth Track record of reserve category progression Increasing reserve life index (RLI) & sustainability Proved + Proved + 2P Reserves After Tax PV10 Probable + Proved Probable Life Index(1) (USD…
  31. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 31
    Annual Themes Year Theme Delivery 2010 Have a Discovery Kona 2011 Build Cash Flow & Q4: 11,300 bopd & Production 63 MM FFO 2012 Exploration Success Las Maracas + Southern Llanos 2013 Achieve Sustainability 2P RLI 5 years 2014…
  32. MAY 2014 ANNUAL GENERAL MEETING – Parex Resources, Inc. – slide 32
    Thank you for your support 32

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