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The GHS Conference – Harvest Natural Resources Inc.

Harvest Natural Resources Inc. · Jul 18, 2011 · 27 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. The GHS Conference – Harvest Natural Resources Inc. – slide 1
    The 2011 GHS Conference San Francisco July 18th, 2011
  2. The GHS Conference – Harvest Natural Resources Inc. – slide 2
    About Harvest Market Data Exchange/Ticker NYSE: HNR Market Capitalization * 415 MM Enterprise Value 482 MM Cash (31/03/2011) 25 MM Debt (31/03/2011) 92 MM Shares Outstanding 33.95 MM Institutional Ownership 72% * As of July…
  3. The GHS Conference – Harvest Natural Resources Inc. – slide 3
    2011 Outlook Harvest Value Created in Utah: Pay down debt Fund exploration /appraisal in Indonesia, Gabon and Oman Exposure to High Impact Exploration: Gabon oil discovery appraisal in progress Indonesia 2nd well spud - drilling…
  4. The GHS Conference – Harvest Natural Resources Inc. – slide 4
    Antelope Sale Transaction Completed Definitive sale agreement closed with Newfield Exploration Company affiliate Effective Date: March 01, 2011 Gross Proceeds: 215 MM Estimated Net Proceeds: 205 MM Acreage Sold: 47,600 net acres…
  5. The GHS Conference – Harvest Natural Resources Inc. – slide 5
    Antelope Project - Reaping the Harvest Project Start: 2008 Location: Uinta Basin, Utah, USA Targets: Shallow Green River Oil, Green River/Wasatch Oil, deep tight Mesaverde Gas Return on Investment: 138% Net Sale proceeds per share:…
  6. The GHS Conference – Harvest Natural Resources Inc. – slide 6
    INTERNATIONAL PORTFOLIO NYSE: HNR www.harvestnr.com 7
  7. The GHS Conference – Harvest Natural Resources Inc. – slide 7
    Venezuela - Petrodelta 32% Equity interest in Petrodelta Six fields, 9.1 billion barrels of oil- in-place Active Drilling Program Current production rate of 35,000 BOPD Successful Appraisal and Development Program ongoing in…
  8. The GHS Conference – Harvest Natural Resources Inc. – slide 8
    Windfall Profit Tax Update Main Changes Based on oil production net of in-kind royalties (formerly on gross production) If royalty is paid in cash, a cap of 70/BBL is imposed on the valuation of the royalty volumes A new tax rate…
  9. The GHS Conference – Harvest Natural Resources Inc. – slide 9
    Petrodelta Margins PD Cash Margin Example 100.0 (US per barrel of oil equivalent production net of 33.33% royalty) (Income Tax and Windfall Profit Tax are approximated) 90.0 Cash Costs 11.43 11.34 WPT 80.0 11.18 11.29 50%…
  10. The GHS Conference – Harvest Natural Resources Inc. – slide 10
    Petrodelta Production 2011 Outlook 45 6 33,300 BOPD average full year First 10 days 40 29,700 BOPD in H1 2011 of July 2011 35 MBPD 5 Capital approx.: 200 million 35 Temblador and El Salto Infrastructure June 2011 3 rigs for…
  11. The GHS Conference – Harvest Natural Resources Inc. – slide 11
    Petrodelta Resource Base At December 31, 2010 Six fields with 9.1 billion barrels OOIP 50.0 million BOE net Proven, 171 million BOE net Probable and Possible 2011 Drilling Program at El Salto, Temblador and Isleo fields will…
  12. The GHS Conference – Harvest Natural Resources Inc. – slide 12
    Isleo Field Isleo tie-in to Uracoa Field ILM-8 drilled in Feb 2011 confirms API and demonstrates UM1 productivity of horizontal vs. Uracoa vertical wells originally tested in UM 1950s 2 7 km line ILM-8 Well Results Phase 1 Pilot…
  13. The GHS Conference – Harvest Natural Resources Inc. – slide 13
    Indonesia Budong-Budong 2011 Well Locations 747,862 acre PSC, Onshore West Sulawesi, Indonesia 64.4% interest Thrust fold belt Several oil and gas surface seeps present LG1 2011 Work Program Exploration drilling 2 wells in…
  14. The GHS Conference – Harvest Natural Resources Inc. – slide 14
    LG Well Status LG-1 Gas Flare Well Results Primary Eocene Target Not reached, presence/quality still untested No wells have yet successfully drilled to Eocene in West Sulawesi Secondary Miocene Target Encountered multiple oil &…
  15. The GHS Conference – Harvest Natural Resources Inc. – slide 15
    LG-1 Well Results LG-1 Untested hydrocarbons 450 530m Gas Kick 618m 13 3/8 csg Gas Condensate from MDT sample 727m 9 5/8 csg 7 csg Gas Kick 1262m Untested shallow amplitude anomalies on the crest and flanks…
  16. The GHS Conference – Harvest Natural Resources Inc. – slide 16
    Budong-Budong Second Exploration Well Karama KD-1 Prospect KD-1 spud on June 20th, 2011 Eocene thrust play with stacked targets: Primary Target: Eocene Good seismic response in Eocene and good amplitudes at Intra-Eocene level…
  17. The GHS Conference – Harvest Natural Resources Inc. – slide 17
    Gabon - Dussafu 680,000 acre PSC, Offshore Gabon 66.667% operated interest Proven hydrocarbon system Existing discoveries on license area Prospectivity identified at multiple levels Post-Salt Pre-Salt Gamba Pre-Salt Syn-Rift…
  18. The GHS Conference – Harvest Natural Resources Inc. – slide 18
    Dussafu Well: Ruche Marine-1 Spud April 28, 2011 Ruche Marine1 Pre-salt play with stacked targets Status 55 feet of pay in a 90 foot oil column in the Gamba reservoir Deepened to the Dentale reservoirs Appraisal sidetrack to test…
  19. The GHS Conference – Harvest Natural Resources Inc. – slide 19
    Ruche Resource Exposure (Pre-Drill) Ruche Marine-1 Gamba Unrisked Prospective Resources (MMBBL) Mean P10 P90 Upper Dentale Gamba Gamba* 26 48 8 (Primary Target) Upper Upper Dentale 26 55 5 Dentale Middle Dentale 25 53 5…
  20. The GHS Conference – Harvest Natural Resources Inc. – slide 20
    Oman Al Ghubar/Qarn Alam 956,000 acre EPSA, Onshore Oman 100% operated interest (Oman Oil has a 20% back) Large Paleozoic gas and condensate play in Ghaba Basin beneath shallow oil fields Proximal to infrastructure for domestic…
  21. The GHS Conference – Harvest Natural Resources Inc. – slide 21
    Oman Al Ghubar/Qarn Alam 12 prospects evaluated for Barik and Miqrat 2 Exploration wells 2011/2012 reservoirs Mafraq South - mean resource 255 MMBOE Al Ghubar North - mean resource 254 MMBOE 5.7 TCF mean Resource Potential…
  22. The GHS Conference – Harvest Natural Resources Inc. – slide 22
    Mafraq Resource Exposure MFSA Well Location Unrisked Prospective Gas and Resources Condensate (MMBOE) Mean P10 P90 Barik 198 347 78 (Primary Target) Miqrat 57 98 23 Mafraq South-A NYSE: HNR www.harvestnr.com 23
  23. The GHS Conference – Harvest Natural Resources Inc. – slide 23
    Al Ghubar Resource Exposure AGNA Well Location Unrisked Prospective Gas and Resources Condensate (MMBOE) Mean P10 P90 Barik 214 395 70 (Primary Target) Miqrat 40 79 10 Al Ghubar North - A NYSE: HNR www.harvestnr.com…
  24. The GHS Conference – Harvest Natural Resources Inc. – slide 24
    China WAB - 21 6.2 million acres, Offshore South China Sea 100% operated interest (CNOOC has 51% back in) Oil and Gas discoveries being developed and produced in adjacent acreage All elements of proven petroleum system to the…
  25. The GHS Conference – Harvest Natural Resources Inc. – slide 25
    2011 Program 2011 2012 Project/Unit Country Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Budong Indonesia Seismic & G&G Exploration Drilling 2 wells Appraisal Drilling Contingent Development Contingent Dussafu Gabon Seismic & G&G Exploration…
  26. The GHS Conference – Harvest Natural Resources Inc. – slide 26
    Share Price Relative to Value 90 Value Drivers 80 Further near-term exploration in Indonesia, Gabon and EXPLORATION Oman 70 UPSIDE 205 million in cash 60 proceeds from the Antelope sale will fund exploration PD POSSIBLE 50…
  27. The GHS Conference – Harvest Natural Resources Inc. – slide 27
    Why Invest in Harvest Demonstrated ability to generate value through exploration 2011 exposure to high-potential exploration prospects in Indonesia, Gabon and Oman Strong Balance Sheet and Organization Significant Valuation Gap…

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