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ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp.

Evolution Petroleum Corp. · Feb 19, 2014 · 30 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. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 1
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  2. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 2
    Maximizing and Producing Petroleum Resources Applying Innovative Engineering Into Known Oil & Gas Fields Building Value per Share To Generate Cash for Growth, Shareholders By Staff & Customers Fully Aligned with…
  3. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 3
    Name/Title Background Achievements Robert Herlin Co-founded EPM in 2003 utilizing 8.3 MM of 30+ years leadership experience in CEO & Chairman common equity invested though 2006. M&A, development, finance and B.S./M.E. Chemical…
  4. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 4
    GROWTH Forecasted production increase at Delhi Field through 2017 Addition of NGL/Methane recovery at Delhi Field Pending reversion of 24% working interest in Delhi Field Increasing deployment of GARP artificial lift technology…
  5. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 5
    6% 5.69% 5% 4.02% Annualized Yield 4% 3.84% 3.11% 3.03% 3% 2.09% 1.89% 2% 1% 0% EPM S&P S&P 500 10-Yr FTSE S&P 500 Alerian Energy Treasury NAREIT Utilities MLP Index Index Index Index EPM yield based on share price of…
  6. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 6
    Oil, NGL & Gas Reserves* Revenue MMBoe M 25,000 30 25 20,000 20 15,000 15 10,000 10 5 5,000 0 0 PD PUD Probable Possible * Note: 2012 & 2013 estimates exclude divested noncore assets; 2013 reserves also exclude Ms…
  7. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 7
    Transformed 8.3 MM common equity cash investment into 455 MM Proved PV10 + 109 MM Probable PV10 + 25 MM Working Capital* 700 109 MM 590 MM 600 456 MM 500 400 MM 300 200 100 25 MM 0 Initial Investment 12/31/13…
  8. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 8
    SEC Pretax PV10* 13.8 MM BOE Proved Reserves MM Proved Probable Possible 7% 500 Oil 450 NGL 400 93% 350 300 250 7.4 MMBOE Probable Reserves 200 13% 150 Oil 14% 100 NGL 50 73% Gas 0 2010 2011 2012 2013 as of June…
  9. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 9
    Delhi Field - Producing CO2 EOR GARP Patented artificial lift technology 13.5 MMBO Proved 74% devd for horizontal and vertical wells worldwide. 7.4 MMBO Probable 48% devd Successfully installed in commercial JVs in 3.7 MMBO Possible…
  10. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 10
    Foundation Asset CO2 Enhanced Oil Recovery
  11. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 11
    Cash Annuity to Fund Growth and Income Jackson Dome Delhi Historic production 192 MMBO prior to EOR (gross) Production 6,244 gross BO per day (quarter ended 12/31/13) 6/30/2013 Reserves 10.0 MMBO Proved Dev. (PV10: 380 MM) 13.5…
  12. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 12
    EPM owns 7.4% of gross revenues No CapEx or OpExever 7.4% Exempt from state severance tax until project payout of all actual costs plus capital cost Royalty Interest Royalty interest = 28% of EPMs Delhi 3P reserves volumes Delhi…
  13. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 13
    Actual and D&M Forecast of 2P Production at Delhi 100,000 Actual Gross Actual EPM Net BOPD D&M 6/30/13 Gross EPM Net D&M 6/30/13 Gross 10,000 Effect of remediation EPM Net 23.9% WI Reversion 1,000 100 Jul-10…
  14. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 14
    High Probability of Achievement, Driven by Proved Reserves Delhi Gross Oil Production Forecast as of 6/30/2013 Possible Probable Proved Gr BOPD 10,000 24% WI Reversion 1,000 Forecasted oil production over next 12 years…
  15. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 15
    Calendar 2013 gross CapEx of 49 MM focused on optimizing flood within already developed western half of field EPM bears no share of CapEx until working interest reversion Reversion of 23.9% WI & 19% RI in 2014 expected to add up to…
  16. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 16
    Operator discovered underground fluid leak in June 2013 in portion of field. Operator temporarily suspended CO2 injection in and around leak area to lower pressure, and oil production from wells in affected area began expected…
  17. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 17
    (000) Cumul Pretax NCF Residual PV10 1,400,000 1,200,000 1,000,000 Peak PV-10 800,000 600,000 400,000 200,000 - 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 As of 6/30 Notes: From independent…
  18. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 18
    Delhi 3P Pretax Cash Flows Net to EPM (Cal 2014-25) 000 Portion of WI that funds Capex WI net of capex Royalty 120,000 100,000 80,000 60,000 40,000 20,000 - 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023…
  19. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 19
    66 MM in Delhi net CapEx in 2014-16 to grow production, cash flow & PV10 through 2017 Delhi 695 MM PDP CF* Reserves Shareholders 740 MM other 3P CF* expansion of GARPR * Net of Delhi CapEx, before overhead charges,…
  20. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 20
    Innovation for Increasing Recovery From NGS Technologies, a subsidiary of Evolution Petroleum www.garplift.com
  21. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 21
    Industry at risk of losing vast quantities of reserves and production as mature horizontal wells, vertical wells with multiple pay zones and deep vertical wells encounter liquid loading and depletion issues These problems exist now…
  22. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 22
    BEFORE: AFTER: GARP Either fluid level eventually drops Potentially add substantial new reserves to a level where rod pump or gas lift are at low cost no longer effective, or Benefit = up to 35% incremental recovery Fluid…
  23. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 23
    EPM Delhi interests NGS Technologies Royalties in Giddings Field Ms Lime JV NGSIP owns GARPR patent GARP Services provides use of GARPR technology to customers GARP Resources utilizes GARPR in joint ventures and equity…
  24. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 24
    Philip DL 1 Selected Lands 2 BOEPD Daily Rate vs Cumulative Production BOPD Daily Rate vs Cumulative Production 10000 1,000 Installed GARP in Restore production rate previously abandoned well from marginal 1 BOPD to 1000 10-18 BOPD…
  25. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 25
    Well Install Pre-Install Post- Pre-Install Targeted Targeted Date Rate, Install Cumul., GARP GARP BOEPD Stable MBOE Gross Gross Rate, Reserves, Reserves, BOEPD MBOE % of Cumul. Morgan- 12/3/2011 2.7 7.5 345 65 19% Kovar Select Lands…
  26. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 26
  27. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 27
    Mississippian Lime - Kay County, Oklahoma EPM owns 34% share of JV holding 11,700 net acres Leasehold offset by successful wells by RRC and others 2 Ms Lime evaluation wells completed to date with poor results - currently testing…
  28. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 28
    Conservative, Strong and Aligned
  29. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 29
    Strong, Debt-Free Balance Sheet with Liquidity to Fund 2014 Strategic Plan & CapEx* Debt to Common Market Cap Liquidity Resources (1/31/14) 180% 171% 160% Revolver 5 MM 140% available* 120% 2H-FY14 100% CFFO* 12/31/13 80% 80%…
  30. ENERCOM THE OIL AND SERVICES CONFERENCE 12 – Evolution Petroleum Corp. – slide 30
    Total Alignment with Strategy to Selectively Grow and Reward Shareholders Accretive Growth Increasing production at Delhi from: Reversion of 24% working interest and 19% revenue interest Scheduled CapEx projected to more than double…

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