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May 2015 Annual General Meeting – Empire Energy Ep

Empire Energy Ep · May 29, 2015 · 21 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. May 2015 Annual General Meeting – Empire Energy Ep – slide 1
    EMPIRE ENERGY GROUP LIMITED Annual General Meeting May 2015
  2. May 2015 Annual General Meeting – Empire Energy Ep – slide 2
    29/05/2015 3 Corporate Snap-Shot ASX:EEG OTC-QX:EEGNY Share Price = US0.02 Mkt Cap = US6.2mm Share price/volume over the past 6 months Debt = US41.8mm at 3/2015 Cash = US1.7mm at 3/2015 Proposed NY Fracking ban announced…
  3. May 2015 Annual General Meeting – Empire Energy Ep – slide 3
    29/05/2015 4 Operations -Snap Shot NY, PA 281,533 net acres KS, OK 24,236 net acres NT, 14.6mm net acres USA conventional oil & gas production Australia conv. & unconventional oil & gas exploration NY, PA, KS, OK: 2P…
  4. May 2015 Annual General Meeting – Empire Energy Ep – slide 4
    29/05/2015 5 Reserves & Resources Empire Energy Group Reserves & Resources* Reserves Oil Gas (MMcf) MBoe Gross Capex PV0 PV10 NYMEX As at Jan 1, 2015 (Mbbls) Wells USM USM USM Proved Developed Producing 1,792 26,716 6,245 2,108…
  5. May 2015 Annual General Meeting – Empire Energy Ep – slide 5
    29/05/2015 6 USA - Asset Overview FOCUS Conventional, long-lived, predictable assets Low risk development NOT exploration Reduction Lease Op Expenses (YE 2014): LOE+Taxes (Appalachia) 2.11/Mcf EV/2P = 3.23/Boe LOE+Taxes (Kansas)…
  6. May 2015 Annual General Meeting – Empire Energy Ep – slide 6
    29/05/2015 7 Stability in Low Price Environment Annual Cash Flow - M Annual Production - Boe 30,000 600,000 25,000 500,000 20,000 400,000 15,000 300,000 10,000 5,000 200,000 - 100,000 2010 2011 2012 2013 2014 -5,000 0…
  7. May 2015 Annual General Meeting – Empire Energy Ep – slide 7
    29/05/2015 8 Hedging - Existing PDP Reserves Disciplined Risk Reduction - approx 72% production hedged through 2017 Market-to-market gain of 12.2mm at 3/2015 Hedging - Oil Swaps Hedging - Natural Gas Swaps 140,000 100.00…
  8. May 2015 Annual General Meeting – Empire Energy Ep – slide 8
    29/05/2015 9 DEVELOPMENT PROGRAM OKLAHOMA, USA (EP184 McArthur Basin St Vidgeon region) Photo courtesy of KAG Enterprises Pty Ltd 2013 Associated Press
  9. May 2015 Annual General Meeting – Empire Energy Ep – slide 9
    29/05/2015 10 Oklahoma Joint Venture (50%/50%) Empire Operator Drilling to start July 2015 Minimum net revenue interest = 81.25% Vertical, fracked wells Net 2P PV10 = US27mm at 12/2014 Severance tax reduce from 8,000 acquired…
  10. May 2015 Annual General Meeting – Empire Energy Ep – slide 10
    29/05/2015 11 Targets & JV Operations Empire focus area 91.7% 90.2% Ponca City Refinery
  11. May 2015 Annual General Meeting – Empire Energy Ep – slide 11
    29/05/2015 12 Nemaha Ridge Location along the Nemeha ridge is important Target Zone West East Enhanced chert development of 30% to 40% porosity. Miss. Lime porosity falls to 3% to 5% range Higher structurally giving way to…
  12. May 2015 Annual General Meeting – Empire Energy Ep – slide 12
    29/05/2015 13 Expected Returns S TA N D A RD T Y P E C U RV E F O R V E RT I C A L Av Gross EUR = 64MBoe2 7.00 WELL - GROSS EUR 64MBOE 30.00 6.00 D&C Cost = 550,000/well 25.00 5.00 20.00 Dry Well = 190,000/well 4.00…
  13. May 2015 Annual General Meeting – Empire Energy Ep – slide 13
    29/05/2015 14 An Empire Energy Company DEVELOPMENT PROGRAM McARTHUR BASIN, NT, AUSTRALIA (EP184 McArthur Basin St Vidgeon region) Photo courtesy of KAG Enterprises Pty Ltd 2013
  14. May 2015 Annual General Meeting – Empire Energy Ep – slide 14
    29/05/2015 15 Take-away Barney Creek Shale is Empires primary target: it is the most abundant shale target in the McArthur Basin volumetrically the most significant the only formation in the McArthur Basin (including the…
  15. May 2015 Annual General Meeting – Empire Energy Ep – slide 15
    29/05/2015 16 Asset Overview MAJOR TARGET Barney Creek Shale 1.64 Billion years old Up to 1,500ft thick Gove Deep Water Port EP(A) 181 EP(A) 182 SECONDARY TARGET Velkerri Shale over EP(A) 183 Barney Creek EP 184…
  16. May 2015 Annual General Meeting – Empire Energy Ep – slide 16
    29/05/2015 17 Value 80% of the known McArthur Significant hydrocarbons in the Basin trough or hydrocarbon depositional shelf/trough proven kitchen held by Empire. Shown Highest hydrocarbons predicted between on previous slide to be…
  17. May 2015 Annual General Meeting – Empire Energy Ep – slide 17
    29/05/2015 18 Prospective Resource Estimated Prospective Resources (Unrisked) INDEPENDENTLY CERTIFIED ESTIMATED PROSPECTIVE RESOURCE (Unrisked) IDENTIFIED AREA ** P90 P50 P10 Barney Creek Formation Bcf 4,844,000 3,304 8,699 20,172…
  18. May 2015 Annual General Meeting – Empire Energy Ep – slide 18
    29/05/2015 19 World Class Scale MARCELLUS BARNEY CREEK & TARGET SHALE VELKERRI SHALE (Entire Basin) (Empire Acreage) LEASE AREA 60.5mm ac 14.6mm ac RESOURCE 60.5mm ac 6.5mm ac(1) AREA SHALE DEPTH Up to 8,000 ft Up to 10,000 ft…
  19. May 2015 Annual General Meeting – Empire Energy Ep – slide 19
    29/05/2015 20 Comparison with USA fields Panhandle, TX Estimated Recoverable Resources (BBoe) Elk Hills, CA McArthur (P50), NT Wasson, TX Empire Belridge South, CA Prospective P(50) Resource (Independent report available)…
  20. May 2015 Annual General Meeting – Empire Energy Ep – slide 20
    29/05/2015 21 Early Commercialisation Darwin 800Bcf/a Major project status by NT Government 2 LNG Plants 3 trains Gove Port Australian Federal Government support with Imperial Oil & Gas 14.6 million acres 5bn in infrastructure…
  21. May 2015 Annual General Meeting – Empire Energy Ep – slide 21
    29/05/2015 23 Lease Summary 180, ACTION / TENEMENT 181, 182 183 184 187 188 Notes to table: Application granted TENEMENT ACTION TO NEGOTIATIONS Exploration licence granted (1) Due to recent senior Tribal Owner Traditional…

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