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IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Feb 2, 2012 · 37 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 FLORIDA – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE Palm Beach, Florida February 2-3, 2012
  2. IPAA OGIS FLORIDA – 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 FLORIDA – 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 Fayetteville Shale, Anadarko Basin Granite Wash and other western Oklahoma liquids rich gas and oil projects and in…
  4. IPAA OGIS FLORIDA – 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 FLORIDA – 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 FLORIDA – 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 Capital…
  7. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights Fiscal 2011 Condensed Balance Sheet September 30, 2011 Current assets 13,261,058 Property and equipment 242,283,477 Less accumulated DD&A (146,147,514) Net property and equipment 96,135,913 Other 2,027,172…
  8. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 8
    Financing 80 million credit facility with Oklahoma banks, maturity November 30, 2014 Current outstanding balance on credit facility approximately 12 million Debt used to finance acquisition of Fayetteville Shale assets in October…
  9. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 9
    Fiscal 2011 Actual Cost Structure 5.00 4.50 4.00 3.50 3.00 G&A, 0.67 /Mcfe 2.50 LOE/Prod Tax, 2.00 1.11 1.50 1.00 DD&A, 1.65 0.50 0.00 IPAA-OGIS Florida, February 2-3, 2012 10
  10. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 10
    Asset Pyramid Perpetually owned 199,000 open acres, Fee 57,000 producing or leased acres Mineral Acreage Resource/ Non-proved undeveloped reserves on fee mineral Shale Play acres, Fayetteville Shale, Woodford Shales and…
  11. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 11
    10 15 20 25 30 35 40 0 5 12 .31 .20 01 12 .31 .20 02 12 .31 .20 03 Ten-Year Share Price Growth 12 .31 .20 04 12 .31 .20 05 PHX Stock Price History 12 .29 .20 06 12 .31 .20 07…
  12. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 12
    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…
  13. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 13
    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…
  14. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 14
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold IPAA-OGIS Florida, February 2-3, 2012 15
  15. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 15
    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…
  16. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 16
    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…
  17. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 17
    Year End 2011 SEC Proved Reserves IPAA-OGIS Florida, February 2-3, 2012 18
  18. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 18
    4TH Quarter 2011 Reserves, Production and Revenue by Product Gas NGL Oil 100.0 5% 7% 9% 4% 12% 5% 21% 26% 80.0 5% 60.0 91% 88% 74% 40.0 20.0 0.0 Reserves Production Revenue IPAA-OGIS Florida, February…
  19. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 19
    YE 2011 Proved, Probable and Possible Reserves IPAA-OGIS Florida, February 2-3, 2012 20
  20. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 20
    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…
  21. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 21
    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…
  22. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 22
    Acquisition Strategy and Activity Acquisition Strategy Focus on adding both un-leased and leased mineral acreage and HBP leasehold properties in our core producing areas Capitalize on the opportunity to purchase mineral and leasehold…
  23. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 23
    Western Oklahoma Anadarko Basin IPAA-OGIS Florida, February 2-3, 2012 24
  24. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 24
    PHX Western Oklahoma Mineral Holdings IPAA-OGIS Florida, February 2-3, 2012 25
  25. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 25
    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…
  26. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 26
    Anadarko Basin Granite Wash Potential Development Area 10,530 net PHX acres 3.4% average NRI in 355 sections IPAA-OGIS Florida, February 2-3, 2012 27
  27. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 27
    Anadarko Basin Cana Woodford Shale IPAA-OGIS Florida, February 2-3, 2012 28
  28. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 28
    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…
  29. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 29
    Anadarko Basin Woodford Shale Current Development Area 3,545 net PHX acres 38 PHX producing 30 working interest wells w/4.8% average NRI w/4.2% 6 PHX producing royalty interest wells 2.5% average NRI in 135 sections…
  30. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 30
    Arkansas Fayetteville Shale IPAA-OGIS Florida, February 2-3, 2012 31
  31. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 31
    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…
  32. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 32
    Arkansas Fayetteville Shale Current Development Area Current Development Area 10,473 net PHX acres 2.2% average NRI in 249 sections 318 PHX producing working interest wells 1,735 Undeveloped locations w/3.3% average NRI 396 PHX…
  33. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 33
    Southeastern Oklahoma Woodford Shale IPAA-OGIS Florida, February 2-3, 2012 34
  34. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 34
    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…
  35. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 35
    Southeastern Oklahoma Woodford Shale Current Development Area 6,518 net PHX acres 161 PHX producing working interest wells w/6.1% average NRI 53 PHX producing royalty interest wells 3.3% average NRI in 210 sections…
  36. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 36
    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 Arkansas Fayetteville Shale Anadarko Basin…
  37. IPAA OGIS FLORIDA – Panhandle Oil and Gas Inc. – slide 37
    PHX LISTED NYSE

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