Corporate Overview Emerald Oil, Inc. Listing: NYSE MKT - EOX Common Shares Outstanding: 42.5 million shares (1) Market Cap. at 7.86/share (2) : 334 million Total Debt: 0.0 million outstanding (3) / 75.0 million available (3)…
Investment Considerations Significant Williston Oil 58,000 net acre position in the core of the Williston Basin Exposure at Compelling EOX at 7.86(1) per share would trade at 3,031 per net Bakken acre vs. the peer group average of…
Oil-Weighted Reserve & Production Growth Average Daily Net Production Per Period (BOEPD) Williston Reserves and Potential Upside (12/31/2012) 3,000 2,850 2,850 120 112.8 2,750 2,500 100 2,050 2,000 80 Boe/d 1,500 1,400…
Execution Driving Strong Results Operated drilling program commenced in November 2012 (2 months ahead of schedule) Pirate 1-2-11H Initial 24-hr IP of 1,801 BOEPD, Initial 30-day average of 1,025 BOEPD Arsenal 1-17-20H Initial 24-hr…
Maintaining Guidance and Operational Goals 2013 Guidance 2013 Operational Goals Current Current Net Wells Drilled Operated 12.0 Net Operated Acreage in Williston Basin 30,000 Non-Operated 0.8 Gross Operated Wells Drilled in…
Williston Basin 58,000 net acres 8
Emeralds Williston Basin Operations Williston Basin Overview Williston Basin Acreage Map 58,000 net acres 25,750 net operated acres 32,250 net non-operated acres 2012 Reserves and production Proved reserves: 5.4 Mmboe Net wells…
Williston Basin McKenzie County, ND Operated Area & Producing Wells Williston Basin Focus Area Map McKenzie County, ND Note: Non-Emerald well production calculated using North Dakota Industrial Commission data to calculate estimate…
Williston Basin McKenzie County, ND Operated Area Low Rider Project Area 11
Operated Well 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) 750 600 500 750 MBOE 900 800 PV-10 (MM)…
Williston Basin Richland County, MT Operable Area & Producing Wells Williston Basin Operated Area Map Richland, MT Select Bakken & Three Forks Producing Wells 24-Hr IP (Boepd) 30 Day Avg. (1) Company Well IP (Boepd) Stages 1…
Financial Overview 14
Summary Capitalization Table & Capital Spending Budget Summary Capitalization Table 12-Month Capital Spending Budget (147.6 Million) Emerald Oil - Capitalization Summary 6/30/2013 (All amounts in 000's) Cash (2) 72,691 Acreage…
Peer Company Valuation EV / Bakken Acre After adjusting for production and net acreage in other project areas, Emerald trades at 3,031 per net Williston acre vs. the peer average of 7,952 per net Williston acre Williston Public Peer…
Hedging Summary Emerald Oil Hedging Contracts as of June 2013 Volumes Volumes Quantity Contract Counterparty Swap (S) Product Contracted Remaining Type Price Months Wells Fargo Bank S Oil 263,902 194,132 Bbls 91.00 1/13 - 2/15…
Appendix 18
Emerging Oil Plays Overview Other Emerald Leasehold Sand Wash Basin Niobrara and Heath Shale represent Tiger Ridge gas play 73,000 Net Acres in emerging plays with attractive resource potential Blaine, Hill, and Chouteau , MT…
Adjusted Enterprise Value Derivation Peer Enterprise Values(1) Companies Symbol Price Shares Mkt. Cap Debt+Pref Cash EV Kodiak Oil and Gas KOG 10.06 265.6 2,672 1,446 14 4,104 Northern Oil & Gas NOG 14.00 62.9 881 439 8 1,311 Oasis…
Recent Highlighted Transactions Comparable Bakken Transactions(1) - Transaction Value Per Acre 60,000 50,000 40,000 30,000 20,000 Average 9,958 10,000 Emerald Emerald McKenzie McKenzie Emerald Acquisition…
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,…
Executive Management Team McAndrew Rudisill Formerly Executive Chairman of Emerald Oil, Inc. from 2011 until 2012 Chief Executive Officer & Has 12+ years of experience in the natural resources sector Director Founder and Managing…
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