Building Shareholder Returns by Maximizing the Potential of Currently Held Assets NASDAQ: MPET January 2013
Magellan is executing a turnaround strategy focused on maximizing the value of existing oil and gas assets in the United States, Australia, and the United Kingdom 2
The Company Independent upstream oil and gas company Publicly listed traded on the NASDAQ since 1972 (ticker MPET) Headquartered in Denver, Colorado 37 employees globally Under new management since 2011 Montana - USA…
Strategy Proving up the value of its existing assets Valuation 3 potentially transformational assets: CO2 EOR at Poplar, offshore Australia and UK 69 m unconventional acreage Use Companys cash resources to de-risk and further…
Reserves Overview1 Proved Reserves Proved and Probable Reserves 21% 37% 10.8 17.2 MMboe 12% MMboe 67% 63% PDP PDNP PUD Proved Probable Oil / Gas Proved Reserves Ratio Proved Reserves by Geography 18% 18% 10.8 10.8…
Poplar 22,000 net unitized acres covering largest geologic structure in western Williston Basin Substantially all acreage held by production, and capex is mainly discretionary Bakken Play is moving west to Poplar 6
Poplar Charles Approximately 300 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 a prime candidate for a CO2 enhanced oil recovery (CO2-EOR) program Potential to increase reserves from current 10 MMbbls to 40 to 60 MMbbls Laboratory tests…
Australian Onshore Assets Palm Valley 145 km SW of Alice Springs 11 Bcf of proved gas reserves and 14 Bcf of probable gas reserves 100 m revenue contract over 17 years with price upside 100% owner / operator Connected to Darwin…
Bonaparte Basin NT/P82 Long term development opportunity Potential reserves of approximately 1 to 3 Tcf 100% held exploration block 3D seismic completed; data processing ongoing Interpretation results expected by May 2014 1…
UK Shale 200,000 net acres 11 licenses Celtique operated (50%) Acquired 175 km 2D seismic in July 2011 Conventional plays: shallow oil and deep gas Unconventional plays: Shale oil and gas potential in Liassic and Kimmeridge…
Operational Milestones Milestone Cost FY2013 FY2014 FY2015 Mar Jun Poplar CO2-EOR 5-well pilot 10 m VAALCO/Deep Rights test wells - Charles formation various testing Australia NT/P82 3D seismic 5 m Palm Valley new gas…
Investment Highlights Traditional value play Development strategy with defined milestones Three transformational assets Right assets in the right markets oil in the US and gas in Australia Seasoned management team committed to…
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