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IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp.

Evolution Petroleum Corp. · Sep 23, 2014 · 26 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 SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 1
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  2. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 2
    Maximizing and Producing Petroleum Resources Applying Innovative Engineering Into Known Oil & Gas Fields Building Value per To Generate Cash to Fund Share Growth and Growing Dividends for Shareholders By Staff Fully…
  3. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 3
    Oil, NGL & Gas Reserves Revenue MMBoe M 25,000 30 25 20,000 20 15,000 15 10,000 10 5 5,000 0 0 PD PUD Probable Possible * Note: 2012, 2013 & 2014 estimates exclude divested noncore assets; 2013 reserves also…
  4. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 4
    Transformed 8.3 MM common equity cash investment into substantial value for shareholders with no debt outstanding 400 350 300 250 MM 200 150 100 50 0 Paid-in Common 6/30/14 W/C 8% Perpet Nonconv 9/17/14…
  5. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 5
    Upstream Oil & Gas Production Upstream Oilfield Services 6/30/2014 2P Reserves of 22.8 GARP Technology MMBOE to recover incremental oil & gas 4% 17% Oil NGL Gas 79% * Note: As of 6/30/2014 6
  6. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 6
    GARP Patented technology to recover incremental reserves and extend life in horizontal and vertical wells worldwide. Delhi Field - Producing Successfully installed in commercial JVs CO2 EOR as of 6/30/2014 in Giddings installing…
  7. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 7
    Shareholder yield while continuing growth in existing upstream asset and in oilfield service business NGS Tech (GARP) Delhi Projected Margin 4-Year Near Term Plan Now: Future: 0.40 dividend/yr Dividend Growth 8
  8. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 8
    Foundation Asset CO2 Enhanced Oil Recovery
  9. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 9
    Jackson Dome Delhi Cash Annuity Funding Growth and Income Historic production 418 MMBO of gross Original Oil in Place (OOIP) 192 MMBO production prior to current EOR project Production 5,956 gross BO per day (quarter ended…
  10. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 10
    EPM owns 7.4% of gross revenues No CapEx or OpExever Exempt from state severance tax until project payout of all actual 7.4% costs plus capital cost Royalty Interest Royalty interest = 24% of EPMs Preliminary 6/30/14 Delhi 3P…
  11. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 11
    Actual Gross Production at Delhi Actual EPM Net 10,000 Gross BOPD EPM Net 1,000 24% WI Effective Reversion Window * 100 Mar-12 Mar-17 Jul-10 Jul-15 Dec-10 Aug-12 Jan-13 Jun-13 Oct-11…
  12. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 12
    Development plan now includes installation of recycle gas processing to recover methane and NGLs, and waterflood with deferred future CO2 injection in portion of field around June 2013 Event Additional, thinner reservoirs projected to…
  13. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 13
    Operator discovered underground fluid release in June 2013 in SW tip of field. Operator suspended CO2 injection in and around leak area to lower pressure, and oil production from wells in affected area began decline, impacting our…
  14. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 14
    Gross BOE 3P Production Projection Comparison of 2014 Estimates to 2013 Estimates Over First 25 Years of Production 1,000 6/30/2014 6/30/2013 MBOE/Month 100 10 Jul-14 Jul-19 Jul-24 Jul-29 Jul-34 While 2P reserves…
  15. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 15
    45 MM in Delhi net CapEx in 2014-18 to grow production, cash flow & PV10 Delhi Reserves 1.2 billion of 2P NCF* Shareholders expansion of GARP *Net of Delhi CapEx, before overhead charges & corporate income tax; based on…
  16. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 16
    Providing Use Of Our Intellectual Property And Proprietary Tools To Customers From NGS Technologies, a wholly owned subsidiary of Evolution Petroleum Corporation www.garplift.com
  17. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 17
    Industry at risk of losing vast quantities of reserves and production as mature horizontal wells, vertical wells with multiple pay zones and deep vertical wells encounter liquid loading and depletion issues target fields include…
  18. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 18
    Horizontal wells optimum candidates are the top two quartiles of depletion drive wells experiencing liquid loading that inhibits production. Our technology targets recovery of incremental 10-35% of cumulative production. thousands of…
  19. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 19
    Improved design for applications in slim holes with diameters less than 7 CIP filed Substantially widens universe of potential applications Field tested in commercial installations Our service includes: paid-up license for use of our…
  20. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 20
    BEFORE: AFTER: GARP Either fluid level eventually drops Potentially add substantial new reserves to a level where rod pump or gas lift are no longer at low cost effective, or Benefit = 15% to 35+% incremental recovery at low cost…
  21. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 21
    Philip DL 1 Selected Lands 2 BOEPD Daily Rate vs Cumulative Production BOPD Daily Rate vs Cumulative Production 10000 1,000 Installed GARP in Restore production rate previously abandoned well from marginal 1 BOPD to 1000 10-18 BOPD…
  22. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 22
    Well 1, 3 Install Pre-Install Post-Install Pre-Install GARP Date Rate, Stable Rate, Cumul., Gross BOEPD BOEPD MBOE Incremental Proved Reserves % of Cumul. Company Operated: Morgan-Kovar 12/3/2011 2.7 7.5 345 8% Select Lands 2…
  23. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 23
    Conservative and Aligned
  24. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 24
    Debt-Free Balance Sheet with Liquidity to Fund 2015 Strategic Plan & CapEx* Debt to Common Market Cap Liquidity Resources (8/8/14) 140% Revolver 120% 119% 111% 5 MM 100% available* 80% 71% 6/30/14 61% W/C 60% FY15 44% 23 MM…
  25. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 25
    Total Alignment with Strategy to Selectively Grow and Reward Shareholders Accretive Growth Near term reversion of Delhi working interest Production increase from remaining Delhi CapEx, including gas plant installation Expanded…
  26. IPAA OGIS SAN FRANCISCO 2014 – Evolution Petroleum Corp. – slide 26
    Name/Title Background Achievements Robert Herlin Co-founded EPM in 2003 utilizing 8.3 MM of 30+ years leadership experience in CEO & Chairman common equity invested though 2006. M&A, development, finance and B.S./M.E. Chemical…

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