Corporate Overview Emerald Oil, Inc. Listing: NYSE MKT EOX Common Shares Outstanding: 42.5 million shares (1) Market Cap. at 6.91/share (2) : 294 million Total Debt: 0.0 million outstanding (3) / 75.0 million available (3)…
Investment Considerations Significant Williston Oil 33,300 net acre position in the core of the Williston Basin Exposure at Compelling EOX at 6.91(1) per share would trade at 2,246 per net Bakken acre vs. the peer group average of…
OilWeighted Reserve & Production Growth Average Daily Net Production Per Period (BOEPD) Williston Reserves and Potential Upside (12/31/2012) 120 112.8 2,500 2,400 Sold 850 BOEPD of 2,300 NonOperated 100 Production 2,000 1,600…
Execution Driving Strong Results Operated drilling program commenced in November 2012 Pirate 1211H Initial 24hr IP of 1,801 BOEPD, Initial 30day average of 1,025 BOEPD Arsenal 11720H Initial 24hr IP of 1,638 BOEPD, Initial 30day…
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 NonOperated 0.8 Gross Operated Wells Drilled in Williston Basin 16…
Williston Basin 33,300 net acres 8
Emeralds Williston Basin Operations Williston Basin Overview Williston Basin Acreage Map 33,300 net acres 30,745 net operated acres 2,548 net nonoperated 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 Select Bakken & Three Forks Producing Wells 24Hr IP (Boepd) 30 Day Avg. (1) Company Well IP (Boepd) Stages 1…
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 600 MBOE 1,000 EUR (Mboe) 750 600 500 750 MBOE 900 800 PV10 (MM)…
Williston Basin Richland County, MT Operable Area & Producing Wells Williston Basin Operated Area Map Richland, MT Select Bakken & Three Forks Producing Wells 24Hr IP (Boepd) 30 Day Avg. (1) Company Well IP (Boepd) Stages 1…
Financial Overview 14
Summary Capitalization Table & Capital Spending Budget Summary Capitalization Table 12Month Capital Spending Budget (147.6 Million) Emerald Oil Capitalization Summary 6/30/2013 (All amounts in 000's) Acreage Cash (2) 120,000…
Peer Company Valuation EV / Bakken Acre After adjusting for production and net acreage in other project areas, Emerald trades at 2,246 per net Williston acre vs. the peer average of 9,195 per net Williston acre Williston Public…
Hedging Summary Emerald Oil Hedging Contracts as of September 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
Adjusted Enterprise Value Derivation Peer Enterprise Values(1) Companies Symbol Price Shares Mkt. Cap Debt+Pref Cash EV Kodiak Oil and Gas KOG 10.67 265.6 2,834 1,446 14 4,266 Northern Oil & Gas NOG 13.00 62.9 818 510 18 1,310…
Recent Highlighted Transactions Comparable Bakken Transactions(1) Transaction Value Per Acre 60,000 50,000 40,000 30,000 20,000 Average 9,605 Emerald McKenzie 10,000 Emerald Acquisition McKenzie Emerald 3,467…
Recent Highlighted Transactions Supporting Information Comparable Bakken Transactions(1) Total Consideration Date Buyer Seller (MM) Acreage /Acre Counties 0111 Magnum Hunter Resources Nuloch Resources 327 71,600 4,567 Divide,…
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