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EnerComs The Oil and Services Conference – Miller Energy Resources, Inc.

Miller Energy Resources, Inc. · Feb 19, 2013 · 18 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. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 1
    Miller Energy Resources February 2013
  2. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 2
    Company Snapshot Stock Ticker (NYSE) MILL Proved Oil Reserves (P1) 9.03 MMBOE Price (2/8/13) 3.98 % of Proved Reserves / Oil 95% Market Capitalization 172.7 MM (2/8/13) Company Operated % of Shares Outstanding 43.4 MM 98% Net…
  3. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 3
    Financing Highlights Over 50MM of Equity Raised Since December 2009, including 10MM of preferred in April 2012 which was redeemed on July 1, 2012. 100MM Five Year Senior Secured Credit Facility Provided by Apollo Inv. Corp. 55MM…
  4. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 4
    Investment Summary 9.03mm BOE of Proven Reserves Strong Balance Sheet P1+P2+P3 PV-10 (SEC) of 1.543 Billion 295mm in shareholders equity ( book value = 6.80/share) Equipment and infrastructure in place to support significantly…
  5. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 5
    The Miller Advantage Miller Operates 98% of Net Production Operational Control Control Equals Cost Savings Significant Low Risk/High Return Projects Favorable Tax Incentives in Alaska for up to 65% of Exploration Costs Exploration…
  6. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 6
    Reserves - Proved with Upside Total Reserves 53.6 MMBOE Proved Reserves SEC Case: PV-10 1.543 Billion 9.043 MMBOE SEC CASE: PV-10 446.7MM Large Drilling Inventory PROBABLE (P2) 9.0 MMBOE PV-10 387MM PUD 6.5 MMBOE PV-10…
  7. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 7
    Miller Basins 90% 10% Cook Inlet, Alaska The Southern Appalachian Basin 8
  8. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 8
    Substantial Value In Untapped Mid-Stream Assets - Osprey Platform - Kustatan Production Facility - 40+ miles of pipelines - Grind & Inject Unit (2 disposal wells) - Power - Trans-Foreland Pipeline* Plenty of excess capacity to handle…
  9. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 9
    Alaska - Osprey Platform Modern state of the art facility. Located 3.5 miles southeast of the Kustatan Production Facility. Located in only 60 feet of water. Originally designed for 21 wells producing 25,000 BOPD. Has room for…
  10. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 10
    Alaska - Kustatan Production Facility Processes crude oil and natural gas from Osprey Platform. Onsite natural gas well brought online in 2010 to power the facility. Produces sales quality oil per Cook Inlet Pipeline specs.…
  11. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 11
    Alaska - West McArthur River Unit Five onsite wells producing over 1,000 BOED brought back into production in 2010. Originally developed for seven well sites. Has potential to target untapped gas sands, which overlay much of…
  12. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 12
    Tennessee Development Strategy Largest owner/operator of wells in Tennessee, over 49,000 acres. Reworking existing stripper wells, Upgrade/replace lift systems, acid stimulation, etc. Own & Operate drill Rigs and 100% of production…
  13. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 13
    Financial Summary * December 2009- Alaska Acquisition 2009 2010 2011 2012 1H 2013 Lease & 14,489 667,938 719,546 723,727 802,726 Exploratory Acres SEC Case 2.2MM 867MM 1.167B 1.54B 1.54B Reserves 0f Wells 52 525 393 380 392…
  14. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 14
    Strong Capital Position No common equity financing since 100MM 5-Year Senior Secured March, 2010 Credit Facility by Apollo Investment EBITDA growing with increased production - 55MM Current Borrowing Base 45MM cap ex since…
  15. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 15
    Recent Developments Built, shipped and certified 2,000 HP offshore drilling rig in Alaska Secured 100MM credit facility from Apollo Acquired substantial acreage around existing positions Successfully drilled first horizontal…
  16. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 16
    Updates Since October 2012 Significant reduction in well bore concentration risk Since October 2012 six additional wells have been drilled/reworked We believe that 3 in Alaska and 2 in Tennessee will be productive wells Successful…
  17. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 17
    Upcoming Milestones next 12 months Drill and complete wells in Alaska increasing production and reserves RU-3 and RU-7 expected to be successful and productive in next two weeks RU-2 and RU-5 expected within next 5 months…
  18. EnerComs The Oil and Services Conference – Miller Energy Resources, Inc. – slide 18
    Contact Information Company: Robert L. Gaylor Senior Vice President Miller Energy Resources 9721 Cogdill Rd, Suite 302 Knoxville, Tennessee 37932 Phone: 865-223-6575 Direct: 865-392-4246 bobbymillerenergyresources.com…

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