EnerCom's The Oil & Gas Conference 18 August 12, 2013
About Harvest Market Data Exchange/Ticker NYSE: HNR Market Capitalization * 174 MM Enterprise Value 243 MM Cash (06/30/2013) 9.8 MM Debt (06/30/2013) 79 MM Shares Outstanding 39.5 MM Institutional Ownership 75% * As of August…
Highlights Venezuela continues strong production growth Up 16% in 2012 Current production 43,000 bopd, up 19% vs. 2012 average 2 for 2 Exploration in pre-salt offshore Gabon Ruche discovery in 2011 Tortue discovery in 2013 49…
Venezuela - Petrodelta 32% Equity Interest in Petrodelta Six fields, 9.9 billion barrels of gross oil-in-place Growth underway Current production rate of 43,000 bopd Successful development program ongoing in Temblador, Isleo and…
Petrodelta Reserves Valuation At December 31, 2012 Six fields with 9.9 billion barrels gross OOIP 38.4 million BOE net Proven, 166.2 million BOE net Probable and Possible 2013 Drilling Program at El Salto, Temblador and Isleo…
Gabon Dussafu Block HNR PROPERTIES 680,000 acre PSC, Offshore Gabon Lucina GAMBA PROSPECTS/LEADS Ebouri OTHER PROSPECTS/LEADS 66.667% operated interest OIL FIELDS GAS DISCOVERY 49 MMBO mean contingent resources Etame discovered…
Dussafu Tortue Discovery Tortue Exploration Well DTM-1 Tortue Marin-1 Oil discovery in pre-salt Gamba and Dentale reservoirs, 53m net pay Appraisal sidetrack DTM-1 ST1, 20m net pay in Dentale Well suspended pending future…
Dussafu - Ready for Development Work-In-Progress Subsurface engineering Project and facilities engineering Logistics planning Well completion design Equipment selection Expect FEED complete 3Q 2013 First production by mid…
Dussafu Resource Potential Exploration Prospects and Leads Resource Type Mean MMBO Unrisked Unrisked Recoverable Overall STOIIP Name Formation Reserves Lead/Prospect Oil/Condensate (MMBBl) COS Contingent Resource 49 P10 Mean P10…
Dussafu Outboard Leads Dussafu outboard leads in relation to nearby Dentale exploration activity Total / Cobalt / Marathon drilling Diaman-1 targeting 250- Dussafu Outboard Leads 800 MMBO Based on 2D seismic Shell / CNOOC expected…
South Gabon Pre-Salt Structures Tortue Discovery (Harvest 2013) Dussafu Outboard Leads (Harvest) Gamba & Dentale structures formed by listric normal Defined by multiple 2D lines faults detaching on older Melania shale Stacked Gamba…
Dussafu Potential Value, Net to Harvest 1,600 Total Mean Value: 1497 1,400 1,200 Exploration Program Mean 663 Risked Value: 947 MM 10% discount rate 1,000 800 1,497 Contingent Resources 284 600 Mean Value: 550…
Indonesia - Budong-Budong 611,943 acre PSC HNR LICENSE 71.5% WI - Onshore West Sulawesi BACK THRUST PROSPECTS/LEADS FOLD BELT LEADS 4 year extension to Jan 2017 STRATIGRAPHIC PROSPECTS/LEADS Harvest became operator in April…
Colombia Entry HNR Farmin to VSM14 and VSM15 Blocks Upper Magdalena Basin Signed agreements with operators of blocks Subject to approval of the Colombia ANH HNR 75% operated interest in both blocks* Balcon Brisas VSM 14 137,061…
Cretaceous Shale Characteristics Cretaceous Shales Villeta on or near blocks VSM14-15 TOC 2% 3 50-70 feet net pay 1 2 10-16% porosity 2,040 gross 1,750 gross VSM 14 VSM 15 30-50 MMBO/sq mile 2 1 Villeta La Luna Villeta…
NuTech Log Analysis Unconventional Reservoirs Comparison VSM 14/15 La Luna VSM 14/15 Tetuan Niobrara La Luna Eagleford 1 3 1 3 Feet Middle Mag 0 100 200 300 350 NYSE: HNR www.harvestnr.com 19
Why Invest in Harvest Significant Valuation Gap Currently trading at 1/3 of the after-tax proceeds from failed Petrodelta sale Trading at a discount to valuation of contingent resources for existing discoveries in Dussafu Block in…
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