Focused Growth in the Williston Basin Midwest Investment Conference OTCQB: ANFC November 18, 2014
Black Ridge Overview Black Ridge Operational Focus: Public company. OTCQB, Ticker: ANFC Bakken / Three Forks Shale Oil Bakken / Three Forks Shale Non-Operator Exploration and Production Company Approximately 10,000 net leasehold…
Black Ridge Overview Black Ridge Operational Focus: Company is in the middle of rapid growth Bakken / Three Forks Shale Oil Third quarter 2014 production growth of 147% year over year Third quarter 2014 Adjusted EBITDA growth of…
Company Growing Rapidly 1,200 Black Ridge Oil & Gas Net Production BOE/d Guidance 950 - 1,100 BOE/d 1,000 800 761 715 600 525 400 358 304 308 283 222 242 200 192 118 86 88 29 14 - Actual Guidance…
Production Growth Driving Cash Flow Growth Black Ridge Oil & Gas Adjusted EBITDA(1) 4.0 3.6 3.6 3.5 3.0 2.5 2.4 MM 2.0 2.0 1.7 1.5 1.2 1.0 1.0 0.5 0.0 (1) Adjusted EBITDA is a non-GAAP financial measure.…
Strong Development Pipeline to Feed Future Growth Producing wells have increased with 12 start up of five Mandaree wells (12.5% working interest / well, 0.625 net wells) Black Ridge Oil & Gas Net Wells (as of 10/31/14) 10…
Evolution of The Williston Basin Phase 1: Land Grab, 2007 - 2009 Leases in heart of play acquired for < 500/acre, 3-5 year terms, 81.25% NRI Prolific Estimated Ultimate Recoveries (EURs) in Parshall and Sanish fields resulted in high…
Why The Non-Operator Business Model Ability to selectively invest in the highest return projects, without the need to control a drilling unit Knowledge and data from over 300 gross wells to make capital allocation decisions Low…
Black Ridge Oil & Gas Strategy Deal Flow with Near-Term Development Reporting, Controls, Regulatory Compliance Disciplined Investment Capital Availability Decisions and Asset Management Cash Flow: IRR 30%…
Liquidity Senior Secured Revolving Credit Facility Subordinated Term Loan 35 MM Current Borrowing Base 30 MM Drawn as of September 30, 2014 17.25 MM available as of September 30, 2014 LIBOR + 900 bps cash, 400 bps PIK LIBOR +…
Corral Creek Dunn County, ND North Dakota Montana T147N R95W T147N R94W T147N R93W Corral Creek Unit Lincoln Gorhman 30,884 Gross Acres 2748 Gross Acres 1280 Gross Acres 0.77% Working Interest (WI) 6.43% WI 19.34% WI Hansen…
Stockyard Creek - Williams County, ND Ten Gross (0.90 Net) Wells Producing North Dakota Nine Gross (0.73 Net) Wells Drilling(1) Montana Operated by Slawson Shut-ins for offset completions reduced 3Q 14 production Field…
Mandaree McKenzie County, ND Operator: EOG Resources Antelope Extension Prospect Five Gross (0.62 net) Wells Producing North Dakota Well Name Target Zone Initial Production Rate Montana Mandaree 17-05H Three Forks 1st Bench 2,212…
Teton McKenzie County, ND Operator: Burlington Resources (ConocoPhillips) Twenty Eight Gross (2.35 net) Well Spacing(1) Initial plan to develop twenty two wells (1.85 net) running six rigs North Dakota Nineteen AFEs received to date…
Why Invest Company is executing YTD production growth of 140% over same period 2013 (1) Strong cash flow generation: YTD Adjusted EBITDA of 9.6mm Pure play Bakken / Three Forks non-operator with 89% oil-weighted production…
For More Information www.blackridgeoil.com Ken DeCubellis Chief Executive Officer ken.decubellisblackridgeoil.com 952-426-1241 Stay Up to Date on Black Ridge Oil & Gas www.blackridgeoil.com 17
Appendix www.blackridgeoil.com 18
Strong Asset Base Driving Growth Year End 2013 Reserve Summary Oil Gas Total SEC PV-10 Reserve Category (MBbls) (Mmcf) (MBOE) (MM) PDP 895 615 998 32.38 PDNP 32 38 38 1.61 PUD 3,147 2,126 3,502 40.39 Total Proved Reserves…
Reconciliation of Net Income to Adjusted EBITDA Black Ridge Oil & Gas, Inc. Adjusted EBITDA by Quarter Three Months Ended March 31, June 30, Septmber 30, December 31, March 31, June 30, September 30, 2013 2013 2013 2013 2014 2014…
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