Executive Management Team CEO Emerald Oil & Gas NL from 2009 and Emerald Oil Inc. since 2011 Mike Krzus Petroleum engineer with over 30 years of international experience developing oil and gas assets Director & CEO Has held various…
Executing Goals September 2012 Goals Current Results th Commence operated drilling program early 2013 in Commenced drilling in 4 quarter of 2012. McKenzie County - results by mid-2013. Three operated wells expected to be batch…
Corporate Overview Emerald Oil, Inc. Listing: NYSE MKT - EOX Common Shares Outstanding: 25.8 million shares (1) Market Cap. at 6.00/share (2) : 155 million Total Debt: 23.5 million outstanding (3) / 27.5 million available (3)…
Company Overview Emerald Oil, Inc. Assets Focus on development of the Tiger Ridge gas play Williston Basin acreage 74,700 Net Acres in Blaine, Hill, and Williston Basin 51,000 Net Acres in 15-month drilling budget - 100.0…
Williston Basin Overview Williston Basin Bakken Lodgepole Total Petroleum System Oil focused play 90% is premium crude (42 API) Size and scale of de-risked play 8 million acre or 12,500 square-mile continuous oil accumulation(1)…
Emerald Oil Company Overview Williston Basin Williston Basin Acreage Overview Emerging Oil Plays 47,000 net acres in the Williston / 14,000 net acres in the Sand Wash 51,000 net acres proforma for Basin Niobrara, following pending…
Investment Considerations Significant Williston Oil 51,000 net acre position in the core of the Williston Basin Exposure at Compelling EOX at 6.00 per share would trade at 1,934 per net Bakken acre vs. the peer group average of 8,835…
Oil-Weighted Reserve & Production Growth Average Daily Net Production Per Period (Boe/d) Williston Reserves and Potential Upside (6/30/2012) 3,000 2,600+ 2,500 2,000 1,500 1,100 938 972 1,000 625 500 362 397 196 114 -…
15-Month Drilling Program & Multi-Year Inventory Over the next 15-months Emerald anticipates spending 100.0 million to drill 10 gross (7.5 net) operated wells and 1.9 net non-operated wells in the Williston Basin Emerald has…
Williston Basin 51,000 net acres 12
Williston Basin Acreage Overview Williston Operated Acreage Overview Williston Basin Acreage Overview 19,500 net operated acres Primary focus area in McKenzie County, ND with a continuous 1-rig drilling program and average W.I. of…
Williston Basin Focus Area Operated Position McKenzie County, ND Williston Basin Focus Area Map McKenzie County, ND Selected Bakken & Three Forks Producing Wells 30 Day IP Avg. IP (1) Company Well (Boe/d) (Boe/d) Stages 1 Zavanna…
Williston Basin Focus Area Operated Position McKenzie County, ND Williston Basin Focus Area Drilling Plan McKenzie County, ND Emerald Oil - Planned Operated Wells Well 1 Mongoose 1-8-5H - drilled, WOC 2 Arsenal 1-17-20H - drilled,…
Operated Williston Basin Economics McKenzie County, ND Sensitivity Case Assumptions*(1) Representative Type Curve / Development Economics* High Base Low 1,200 1,100 500 MBOE 1,000 600 MBOE EUR (Mboe) 750 600 500 900 750 MBOE…
Williston Basin Focus Area Operated Position Dunn County, ND Williston Basin Focus Area Map Dunn County, ND Selected Bakken Producing Wells 24 Hour IP 30 Day Avg. Company Well (Boe/d)(1) IP (Boe/d) Stages 1 Hunt Dunn 1-12-1H 573…
Operated Williston Basin Economics Dunn County, ND Sensitivity Case Assumptions*(1) Representative Type Curve / Development Economics* High Base Low 900 350 MBOE 475 MBOE 800 EUR (Mboe) 600 475 350 600 MBOE 700 600 PV-10 (MM)…
Emerging Oil Plays 19
Emerging Oil Plays Sand Wash Basin - Niobrara Sand Wash Basin - Niobrara Overview Sand Wash Basin - Niobrara Overview 14,000 net non-operated acres in Sand Wash Basin Niobrara, following pending sale of 31,000 net acres to close…
Emerging Oil Plays Heath Shale Oil (Central Montana) Heath Shale Oil Overview Cirque Rock Happy 33-3H Implied Economics 33,500 net acres prospective for Heath shale oil 4.5 million D&C cost with 12-stage frac Musselshell, Petroleum,…
Financial Overview 22
Summary Capitalization Table & Well Development Budget Summary Capitalization Table 15-Month Drilling Budget (100.0 Million) Emerald Oil - Capitalization Summary Pro Forma Debt: 120 Wells Fargo Credit Facility (27.5M avail.) (1)…
Peer Company Valuation - EV / Bakken Acre After adjusting for production and net acreage in other project areas, Emerald trades at 1,943 per net Williston acre vs. the peer average of 8,835 per net Williston acre Williston Public…
Appendix 26
Adjusted Enterprise Value Derivation Peer Enterprise Values(1) 2/3/2013 2/3/2013 Companies Symbol Price Shares Mkt. Cap Debt+Pref Cash EV Kodiak Oil and Gas KOG 9.23 264.1 2,437 1,264 345 3,356 Northern Oil & Gas NOG 16.34 63.5…
Zero Cost Acreage Swap Mechanics The below diagrams show an example of how EOX can convert non-operated working interest acreage into operated acreage through entering into a zero cost acreage swap with Company A to benefit both…
Strategy & Execution Strategies Ability To Execute 2013 Year End Goals Leverage operated DSUs to consolidate and increase lease positions Identify and consolidate core operated Increase net operated Williston basin Williston Basin…
Recent Highlighted Transactions Comparable Bakken Transactions(1) - Transaction Value Per Acre Average 9,941 Emerald McKenzie Acquisition 3,467 1. /Acre information taken from publicly available information and includes…
Recent Highlighted Transactions Supporting Information Comparable Bakken Transactions(1) Total Consideration Date Buyer Seller (MM) Acreage /Acre Counties 01-11 Magnum Hunter Resources Nuloch Resources 327 71,600 4,567 Divide,…
Hedging Summary Emerald Oil Hedging Contracts as of January 2013 Volumes Volumes Quantity Contract Counterparty Swap (S) Product Contracted Remaining Type Price Months Wells Fargo Bank S Oil 263,902 263,902 Bbls 91.00 1/13 -…
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