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IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Apr 17, 2012 · 39 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 NEW YORK – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE Sheraton NY Hotel & Towers New York, NY April 16-18, 2012
  2. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 2
    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…
  3. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 3
    Panhandle Oil and Gas Inc. Profile Non-operating independent oil and gas company with current drilling projects in the Anadarko Basin Granite Wash and other western Oklahoma liquids rich gas and oil projects, Fayetteville Shale and…
  4. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 4
    UNIQUE Operational Strategy Use ownership of 254,500 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 NEW YORK – 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 NEW YORK – Panhandle Oil and Gas Inc. – slide 6
    Financial Highlights-Fiscal 2011 Year Ended September 30, 2011 2010 Revenue 44,976,651 51,938,416 Net income 8,493,912 11,419,690 Earnings per share 1.01 1.36 Net cash provided by operating activities 29,283,929 27,806,475…
  7. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights Fiscal 2012 Condensed Balance Sheet December 31, 2011 Current assets 11,369,775 Property and equipment 265,219,238 Less accumulated DD&A (150,435,510) Net property and equipment 114,783,728 Other 1,857,986…
  8. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights- First Quarter 2012 Three Months Ended December 31, 2012 2011 Revenue 13,404,333 9,901,548 Net income 3,412,110 1,426,849 Earnings per share .41 .17 Net cash provided by operating activities 7,745,652…
  9. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 9
    Financing 80 million credit facility with Oklahoma banks, maturity Nov. 30, 2014 Outstanding balance on credit facility currently approximately 12 million Debt used to finance acquisition of Fayetteville Shale assets in October 2011…
  10. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 10
    Fiscal 2012 First Quarter 5.00 4.50 4.00 3.50 3.00 G&A, 0.66 /Mcfe 2.50 LOE/Prod Tax, 2.00 1.06 1.50 1.00 DD&A, 1.62 0.50 0.00 IPAA-OGIS New York, NY - April 16-18, 2012 11
  11. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 11
    Asset Pyramid Non-proved undeveloped reserves on fee mineral Probable and acres, Fayetteville Shale, Woodford Shales and Granite Possible Wash (superior economics due to royalty retention) Reserves 5,100 producing wells, 66% of…
  12. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 12
    PHX Stock Price History 40 35 30 25 20 15 10 5 0 01 02 03 04 05 06 07 08 09 10 11 .20 .20 .20 .20 .20 .20 .20 .20 .20 .20 .20 .31…
  13. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 13
    Operating Highlights Total U.S. mineral ownership of 254,500 acres Superior investment economics Participation as a working interest owner on our mineral acreage generates superior economics. We retain our proportionate share of…
  14. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 14
    1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 500,000 0 1 2.3 1. 20 05 3 .31 .2 00 6 6 .30 .2 00 6 9 .30 .2 00 6 1 2.3 1. 20 06 3 .31 .2 00 7 6 .30 .2 00 7 9 .30 .2 00 7 1…
  15. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 15
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold IPAA-OGIS New York, NY - April 16-18, 2012 16
  16. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 16
    Economic Impact of Participation with Mineral Interest Finding Cost, /Mcfe Rate of Return,%(BTAX) Arkansas Fayetteville Shale 2 30 1.8 Assumptions: 25 1.6 69% Higher PHX ownership - 1% W.I., 1% NRI 22% 1.38 19% Lower 1.4…
  17. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 17
    Reserve Statistics 2011 Exceptional Reserve Growth Record proved reserves at year-end 2011 Fiscal year-end 2011 proved reserves increased to 111.7 Bcfe A 7.7% increase over 2010 Record 3P (proved, probable and possible) reserves at…
  18. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 18
    Year End 2011 SEC Proved Reserves IPAA-OGIS New York, NY - April 16-18, 2012 19
  19. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 19
    Proved Reserve Growth Proved Developed Reserves Proved Undeveloped Reserves 120.0 100.0 44.6 Proved Reserves (Bcfe) 41.2 80.0 60.0 9.2 12.8 40.0 6.4 5.6 62.5 67.1 3.6 50.3 20.0 41.3 35.5 27.7 28.7 0.0 2005…
  20. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 20
    First Quarter 2012 Reserves, Production and Revenue by Product Gas NGL Oil 100.0 5% 9% 9% 4% 12% 3% 29 % 34% 80.0 5% 60.0 91 % 88 % 40.0 66 % 20.0 0.0 Reserves Production Revenue IPAA-OGIS New York, NY…
  21. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 21
    YE 2011 Proved, Probable and Possible Reserves IPAA-OGIS New York, NY - April 16-18, 2012 22
  22. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 22
    Probable & Possible Undeveloped Reserve Growth Probable Possible 400.0 350.0 Proved/Possible Reserves, (Bcfe) 300.0 250.0 174.8 200.0 200.1 147.9 150.0 75.0 100.0 125.1 50.0 86.1 87.4 87.1 0.0 2008 2009 2010…
  23. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 23
    Acquisition Strategy and Activity Acquisition Strategy Focus on acquiring both un-leased and leased mineral acreage and HBP leasehold properties in the economically depressed dry gas resource plays as well as appropriately priced…
  24. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 24
    Acquisition 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…
  25. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 25
    Western Oklahoma Anadarko Basin IPAA-OGIS New York, NY - April 16-18, 2012 26
  26. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 26
    PHX Western Oklahoma Mineral Holdings IPAA-OGIS New York, NY - April 16-18, 2012 27
  27. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 27
    Western Oklahoma and Texas Panhandle Net Acreage The currently active oil and liquids plays within the outlined area include the Granite Wash, Hogshooter, Cleveland, Marmaton and Tonkawa 17,100 net mineral acres available for…
  28. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 28
    Anadarko Basin Granite Wash Potential Development Area 10,530 net PHX acres 3.4% average NRI in 355 sections IPAA-OGIS New York, NY - April 16-18, 2012 29
  29. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 29
    Anadarko Basin Cana Woodford Shale IPAA-OGIS New York, NY - April 16-18, 2012 30
  30. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 30
    Anadarko Basin Cana Woodford Shale Diverse mineral ownership across initial play and expansion areas Interest (WI or RI) in 15% of all producing wells in the play PHX wells primarily operated by Devon and Cimarex Current production…
  31. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 31
    Anadarko Basin Woodford Shale Current Development Area 3,545 net PHX acres 40 PHX producing working interest wells w/4.2% average NRI 6 PHX producing royalty interest wells 2.5% average NRI in 135 sections 744…
  32. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 32
    Arkansas Fayetteville Shale IPAA-OGIS New York, NY - April 16-18, 2012 33
  33. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 33
    Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play Interest (WI or RI) in 20% of all producing wells in the play PHX wells primarily operated by Southwestern Energy and Chesapeake Current production…
  34. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 34
    Arkansas Fayetteville Shale Current Development Area Current Development Area 10,473 net PHX acres 2.2% average NRI in 249 sections 342 PHX producing working interest wells 1,735 Undeveloped locations w/2.9% average NRI 409 PHX…
  35. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 35
    Southeastern Oklahoma Woodford Shale IPAA-OGIS New York, NY - April 16-18, 2012 36
  36. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 36
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 20% of all producing wells in the play PHX wells primarily operated by Newfield, Devon and BP Current production 6.6 Mmcfe per…
  37. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 37
    Southeastern Oklahoma Woodford Shale Current Development Area 6,518 net PHX acres 162 PHX producing working interest wells w/6.1% average NRI 54 PHX producing royalty interest wells 3.3% average NRI in 210 sections…
  38. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 38
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 254,500 acres Large drilling inventory in four premier resource plays plus Oklahoma/Texas oil and liquids rich plays…
  39. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 39
    PHX LISTED NYSE

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