Double Eagle Petroleum Co. May 25, 2010 Annual Shareholders Meeting New York, New York
Value Proposition Value Component Valuation Range Assumptions Proved Reserves--Year-end Pricing 114.2 Bcfe Proved 171.3 million - 285.5 million 1.50 per Mcfe - 2.50 per Mcfe 25.6 Mmcfe/d net production 61% Proved Developed Probable…
Corporate Profile Market Cap 54 Million (a) Enterprise Value 125 Million (a) Proved Reserve Base (d) - 114.2 Bcfe Proved Reserves using year-end pricing - 229.7 Million PV-10 - 97% Gas - 65% Proved Developed Production - 24.9…
Historical Highlights Low cost growth through the drill bit F&D Costs average 1.00 to 1.50 per Mcfe; Production Costs, including taxes--1.45 per Mcfe at March 31, 2009; G&A Costs equals 12% of revenues; lowest among peer group with…
Quality Asset Portfolio-Overview Major Projects Atlantic Rim Catalina (Operated by Double Eagle Petroleum) Sun Dog (Operated by Anadarko) Doty Mountain (Operated by Anadarko) Development began in mid-2007 Currently the 25th…
The Atlantic Rim Historical drilling activity Catalina Unit 14 new production wells drilled through 2004 (pre EIS) 33 new production wells drilled in 2007 23 new production wells drilled in 2008 Sun Dog Unit 14 new wells drilled…
Pinedale Anticline Questar Operated Properties Interests in over 130 wells (including 2008/2009 drilled wells) 17 wells completed in 2009; Currently participating in 16 new wells; to be completed in 2010 350+ Potential future…
Midstream Infrastructure Growing source of fee-based revenue that is independent of gas prices Connects Catalina Unit to interstate pipeline 100% owned by Double Eagle 125 MMcf/d capacity; currently at 27.5 Mmcf/d Easy tie-in…
Developing Exploration Potential Table Top Unit Filed for EIS review with USFS, awaiting approval Assessing need for additional seismic work; to be performed 2011 Potential 2-3 TCF target Niobrara Formation Niobrara Shale is up and…
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