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IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Sep 30, 2013 · 42 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 – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 2
    Panhandle Oil and Gas Inc. Profile Non-operating independent oil and gas company with current drilling projects in the Anadarko Basin liquids rich gas and oil projects, Fayetteville Shale and in three Oklahoma Woodford Shale Plays…
  3. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 3
    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…
  4. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 4
    UNIQUE Operational Strategy Use ownership of 255,000 mineral acres as base Have used mineral acreage ownership to participate with a working interest in the drilling of a significant number of wells Producing working interest in…
  5. IPAA OGIS SAN FRANCISCO – 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…
  6. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 6
    Financial Highlights - Fiscal 2012 Year Ended September 30, 2012 2011 Revenue 48,532,317 44,976,651 Net income 7,370,996 8,493,912 Earnings per share .88 1.01 Net cash provided by operating activities (not including lease bonus…
  7. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights - Fiscal 2012 Condensed Balance Sheet September 30, 2012 Current assets 11,622,845 Property and equipment 286,816,134 Less accumulated DD&A (165,199,079) Net property and equipment 121,617,055 Other 1,946,830…
  8. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights Nine Months Ended June 30, 2013 Nine Months Ended June 30, 2013 2012 Oil, NGL and net gas sales 42,686,935 29,748,884 Total revenue 44,492,866 37,490,935 Net income 8,240,953 7,188,375 Earnings per share .99…
  9. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 9
    Financing 80 million credit facility with Oklahoma banks, maturity Nov. 30, 2014 Current outstanding balance on credit facility approximately 10.5 million 35 million borrowing base Drilling capital expenditures financed by cash flow…
  10. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 10
    Fiscal 2013 First Nine Months Cost Structure 5.00 Average Sales Price per Mcfe, 4.50 4.00 1.08/Mcfe Margin /Mcfe G&A, 0.54 3.00 LOE/Prod Tax, 1.08 2.00 1.00 DD&A, 1.80 0.00 11 IPAA-OGIS San Francisco…
  11. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 11
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres, Probable Fayetteville Shale, Woodford Shales and Granite Wash and (superior economics due to royalty retention) Possible Reserves 5,650 producing wells, 62% of…
  12. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 12
    Panhandles Mineral Acreage Strategy Results Allows the Company to generate positive financial results, even during low natural gas price environment Ability to maximize return on Company assets through working interest participation…
  13. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 13
    PHX Stock Price History COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Panhandle Oil & Gas Inc, the S&P Smallcap 600 Index, and the S&P Oil & Gas Exploration & Production Index Panhandle Oil & Gas Inc S&P Smallcap 600 S&P Oil…
  14. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 14
    Operating Highlights Rate of Return/Value Creation driven investment philosophy Oil focused 2013 capital allocation Western Oklahoma/Texas Panhandle oil 55% Southern Oklahoma Woodford oil 10% Permian Basin oil 7% Bakken oil 4%…
  15. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 15
    Quarterly Oil Production BARRELS OIL 60,000 50,000 40,000 30,000 20,000 10,000 0 1 1 1 2 2 2 3 3 0 1 2 01 01 01 01 01 01 01 01…
  16. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 16
    MCFE 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 0 12. 31. 200 3.3 5 1. 2 006 6.3 0. 2 006 9.3 0. 2 006 12. 31. 200 3.3 6 1. 2 007 6.3 0. 2 007 9.3 0. 2 007 12.…
  17. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 17
    Mineral Holdings Significant Mineral Acreage Holdings 120 100 Net Acres (Thousands) 80 60 40 20 0 18 OK NM TX ND AR Leasehold IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  18. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 18
    Economic Impact of Participation with Mineral Interest Fayetteville Shale Finding Cost, /Mcfe Rate of Return, %(BTAX) 35 1.4 32% Assumptions: 68% Higher 30 1.2 PHX ownership - 1% W.I., 1% NRI 1.11 19% Lower 25 Typical ownership…
  19. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 19
    Reserve Statistics Exceptional Reserve Growth Proved reserves at Mid-Year 2013 Proved reserves increased to 128.1 Bcfe SEC Flat Pricing PV10 - 131.1 million (2.66/Mcf, 87.19/Bo & 29.54/Bngl wellhead) NYMEX Futures Pricing PV10 -…
  20. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 20
    Proved Reserve Growth Proved Developed Reserves Proved Undeveloped Reserves 140.0 120.0 Proved Reserves (Bcfe) 100.0 50.9 44.6 41.2 80.0 60.0 9.2 12.8 40.0 6.4 73.8 5.6 67.1 3.6 62.5 50.3 20.0 41.3 35.5 27.7…
  21. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 21
    Mid-Year 2013 Reserves and Third Quarter 2013 Production and Revenue by Product Gas NGL Oil 100 7% 10% 13% 6% 15% 5% 31% 35% 80 4% 60 87% 85% 40 65% 20 0 Mid-Year Third Quarter 2013 Third Quarter 2013 SEC…
  22. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 22
    Probable & Possible Undeveloped Reserve Growth Probable Possible 400.0 350.0 Proved/Possible Reserves, (Bcfe) 300.0 250.0 160.9 174.8 200.0 200.1 147.9 150.0 75.0 100.0 156.5 125.1 50.0 87.4 87.1 86.1 0.0 2008…
  23. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 23
    Acquisition Strategy and Activity Acquisition Strategy Rate of Return/Value Creation Driven Focus on acquiring both HBP leasehold and un-leased and leased mineral acreage properties in economically depressed dry gas resource plays…
  24. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 24
    PHX Western Oklahoma Mineral Holdings 25 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  25. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 25
    Western Oklahoma Anadarko Basin 26 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  26. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 26
    Western Oklahoma and Texas Panhandle Net Acreage The currently active oil and liquids plays within the outlined area include the Granite Wash, Hogshooter, Cleveland and Marmaton 16,500 net mineral acres available for PHX…
  27. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 27
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle 28 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  28. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 28
    Anadarko Basin Cana Woodford Shale 29 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  29. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 29
    Anadarko Basin Cana Woodford Shale Diverse mineral ownership across initial play and expansion areas Interest (WI or RI) in 14% of all producing wells in the play PHX wells primarily operated by Devon and Cimarex Current…
  30. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 30
    Anadarko Basin Cana Woodford Shale Reserve Assessment Area 3,545 net PHX acres 74 PHX producing working interest wells w/3.1% average NRI 26 PHX producing royalty interest wells 3.7% average NRI in 437 undeveloped WI…
  31. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 31
    Anadarko Basin Cana Woodford Shale Core Red outline is Core Development Area 32 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  32. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 32
    Southern Anadarko Basin and Ardmore Basin Woodford 33 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  33. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 33
    Arkansas Fayetteville Shale 34 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  34. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 34
    Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play Interest (WI or RI) in 24% of all producing wells in the play PHX wells primarily operated by Southwestern Energy Current production 14.0 Mmcfe per…
  35. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 35
    Arkansas Fayetteville Shale Current Development Area Current Development Area 10,473 net PHX acres 4.8% average NRI in 800 undeveloped WI locations 546 PHX producing working interest wells 1,205 additional undeveloped RI locations…
  36. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 36
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 255,000 acres with geographic and product diversity Substantial advantage in capital efficiency due to mineral…
  37. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 37
    Southeastern Oklahoma Woodford Shale 38 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  38. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 38
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 18% of all producing wells in the play PHX wells primarily operated by Newfield, Devon, BP and PetroQuest Current production 5.0…
  39. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 39
    Southeastern Oklahoma Woodford Shale Current Development Area 6,518 net PHX acres 167 PHX producing working interest wells w/6.2% average NRI 81 PHX producing royalty interest wells 4.4% average NRI in 897 undeveloped WI…
  40. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 40
    Year-End 2012 SEC Proved Reserves SEC Proved Reserves by Reserve Category PDNP 1.9 Bcfe 1.5% PUD 50.9 Bcfe PDP 40.8% 71.9 Bcfe 57.7% 124.7 Bcfe 41 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  41. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 41
    Year-End 2012 Proved, Probable and Possible Reserves 42 IPAA-OGIS San Francisco September 30, 2013 San Francisco, CA
  42. IPAA OGIS SAN FRANCISCO – Panhandle Oil and Gas Inc. – slide 42
    PHX LISTED NYSE

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