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Global Energy And Power Executive Conference – Vaalco Energy Inc.

Vaalco Energy Inc. · Jun 2, 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. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 1
    RBC Capital Markets Global Energy & Power Executive Conference June 1, 2015 NYSE:EGY
  2. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 2
    Key Highlights Safe and successful installation of Etame and SEENT platforms - On-time, on-budget Amended the IFC credit facility - Permanently eliminated the debt to equity covenant - Next borrowing base redetermination - June 30,…
  3. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 3
    West Africa Focus Block P Working Interest 31.0% 57,000 gross acres 18,000 net acres Bata Offshore Exploration & Development EQUATORIAL GUINEA Etame Marin Permit Working Interest 28.1% 28,700 gross acres 8,100 net acres…
  4. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 4
    Company Profile Key Metrics Share Price(1) 2.14 52-Week Range(1) 2.00 - 9.67 Market Capitalization(1) 125 million Cash Balance including restricted(2) 64 million Revolving Debt Facility(2) 65 million Current Borrowings(2) 15…
  5. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 5
    Etame Marin Permit (Production / Reserves) Gross EUR 1P Reserves 140 120 Historical growth in EUR 1P Reserves (MMBO) 100 Development drilling - 2015 80 60 Reversing production decline 40 20 0 2002 2003 2004 2005 2006 2007…
  6. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 6
    Etame Marin Reserves YE 2014 Proved Reserves Reconciliation (MMBO) 9.0 8.0 0.1 7.0 2.3 6.0 (1.4) 5.0 4.0 8.2 7.2 3.0 2.0 1.0 - YE 2013 Reserves Production Revisions Extensions YE 2014 SEC Reserves 1P Reserves 2P Reserves 8.2…
  7. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 7
    Offshore Gabon Etame Marin Permit FPSO Petroleo Nautipa Operator with a 28.1% net W.I. Long-term contract with Tinworth through 2020 Capacity: 30,000 bbls of total fluids per day Partners: Capacity: 25,000 bbls of oil per day…
  8. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 8
    Etame Field Expansion Project New Etame Platform On-time, on-budget Etame ET-8H ET-9H 4 pile, 8 slot platform in water depth of 85 ET-4H meters ET-5H ET-6H ST Targeting 10 MMBOE gross reserves ET-10H ET-1V Fault Block…
  9. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 9
    Etame Field: ET-1V Fault Block Confirmed Under-drained Lower Gamba Sand ET-7H ET-12H ET-13H ET-10H ET-10P Producing Drilling Potential Producing Pilot Hole Producing Tested Tested 2,400 BOPD 2,000 BOPD 3,000 BOPD Gamba Sand…
  10. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 10
    SE Etame & North Tchibala Fields Project New SEENT Platform Construction and installation on-time, on-budget 4 pile, 8 slot platform in water depth of 85 meters SE Etame Targeting 7 MMBO gross reserves Transocean Constellation II…
  11. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 11
    Crude Sweetening Project Targeting sour oil reserves at Ebouri and Etame fields Ebouri Due to significant fall in oil prices, re-evaluating project scope and design Some options being considered: Export Pipeline Chemical removal…
  12. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 12
    Onshore Gabon- Mutamba Iroru Permit Shell VAALCO operated with 41% Rabi Kounga Field working interest Cum: 840 MMBO EUR 900 MMBO NGongui discovery well drilled in Q4 2012 Rabi Kounga Pipeline Encountered 49 feet of oil pay in…
  13. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 13
    Offshore Equatorial Guinea - Block P VAALCO 31% working interest Marathon 1,100 mmboe Block P Partners have agreed to the development of the Venus discovery prior to the drilling of exploration wells Noble Revising the JOA to…
  14. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 14
    Exploration Program 15
  15. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 15
    Angola Block 5 Identified Exploration Upside Expanded lead inventory VAALCO 50 Kilometers VAALCO - Derived from new 3-D seismic Block 5 Loengo Prospect A Lead reprocessing B Lead VAALCO operated with 40% WI, VAALCO 10% Govt.…
  16. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 16
    Offshore Angola - Block 5 Regional X-section VAALCO VAALCO VAALCO VAALCO Cobalt Mobil Prospect Lead Block 5 Loengo Prospect Loengo Ombundi Discovery Discovery Orca -1 Baleia -1A A 15 miles 65 miles A VAALCO Ombundi Lead…
  17. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 17
    2015 Guidance (As of May 28, 2015) BOPD 3,900 4,600* *2nd Quarter Guidance 4,300 4,600 OPEX (MM) 30.0 MM - 33.0 MM* *2nd Quarter Guidance 7.5 - 8.5 Workovers (MM) 3.0 MM - 6.0 MM *2nd Quarter Guidance 0.0 G&A (MM) 12.5 MM -…
  18. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 18
    Why Invest in VAALCO Now Near term catalysts Continued Development Program at Etame reversing production decline Analyzing recently processed pre-salt seismic on Block 5 Proven West Africa Operator 100% operated In 3 out of top 4…
  19. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 19
    APPENDIX 20
  20. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 20
    Strong Financial Position (s in millions) Financial Position 3/31/2015 Cash Balance (Includes Restricted) 64 Working Capital (Includes Restricted) 60 Net PP&E 107 Current Borrowing Balance (IFC Loan) 15 Retained Earnings 67…
  21. Global Energy And Power Executive Conference – Vaalco Energy Inc. – slide 21
    EBITDAX Reconciliation 12 months 3 months ended ended 12/31/2014 3/31/2015 Revenues 127,691 18,239 Operating costs and expenses (182,097) (53,517) Operating income (loss) (54,406) (35,278) Depreciation, depletion and amortization…

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