Jefferies 2012 Global Energy Conference November 29, 2012
Endeavour At A Glance Near-term growth through lower risk development activities Growing cash flow from U.K. development projects Exposure to Brent crude oil and European gas Increasing liquids production near-term Key Figures…
Significant Production Growth Acquisition and Near-Term Projects (1) Pro forma Production and Pro forma Production - Current Production (2) MacCulloch & Nicol Fields Rochelle (3) 13% 14% 29% 30% 71% 57% 86% 10,000…
Reserve Valuation Net Asset Valuation 2,467 2,500 2,000 1,500 1,288 897 1,000 792 500 0 (1) (1) 2P PV-10 1P PV-10 Total Debt Net Debt (1) Pre-tax PV-10 as of December 31, 2011 pro forma for the acquisition of…
Reserves Value Make-Up and Migration 2,500 2,000 1,500 1,000 500 0 1P PV-10 1P PV-10 Over Time = 2P Rochelle Bacchus Alba Other Reserves Migrate from Probable to Proved from Known Fields, with Little Capital…
Overview of Endeavours U.K. Assets Current Production Development Projects Enoch Ivanhoe / MacCulloch RobRoy Rubie Nicol Renee Alba Rochelle Bacchus Columbus Bittern 8
Production sold into higher-valued European markets Crude oil Natural gas Average spread over the period: 15.20 Average spread over the period: 4.07 12 120 11 9 105 23.45 spread( 8 7.56 spread 6 90 5 3 75 2…
Bacchus - Block 22/06a Central North Sea END WI: 30% Bacchus Operator: Apache (50% WI) Partner: First Oil (20% WI) First two wells on production 13,000 boepd gross Forties Reservoir is formed by shallow marine Fulmar…
Rochelle - Blocks 15/26b, 15/26c and 15/27 Operator: Endeavour (44% WI) Ivanhoe / RobRoy Partners: Nexen (41% WI), Premier Oil (15% WI) FDP Approved: February 2011 Renee Rubie Online: Q1 2013 Goldeneye Project in execution…
Alba Field Overview - Block 16/26a END WI: 25.68% MacCulloch Operator: Chevron (23.37% WI) Partners: Statoil (17% WI) Nicol BP (13% WI) Total (12.65% WI) CIECO/Itochu (8% WI) Britannia Discovered/1st Production 1984/1994…
Alba Field - Future Development Sustain current production and increase reserves through continued development drilling Cumulative production to date 373 MMbbls gross Infill drilling since 2009 has largely sustained production…
MacCulloch Field Overview - Block 15/24b END WI: 40% WI* Partners: ENI(40% WI) MacCulloch Noble Energy (14% WI) Talisman (6% WI) Nicol Discovered/1st Production 1990/1997 Britannia 490ft water depth Alba Paleocene reservoir…
New Blocks Acquired in the 27th Licensing Round Current Production Enoch Development Projects MacCulloch Rubie Nicol Renee Alba Bacchus Rochelle Columbus Bittern The new licenses covering ten blocks located in core…
Overview of Endeavours US Assets US Q3 2012 530,000 gross / 155,500 net acres Heath Shale Oil Play - MT 12.9 MMCFe/D net production Marcellus Play - PA Cretaceous Plays - CO Haynesville Play LA/ E. TX 16
Heath Shale Tight Oil Play in Central Montana Heath Play, END Activity 25% joint venture with two independent Montana producers 426,000 gross acres primarily in Garfield and Rosebud Counties (90,500 net to END) Re-entry of 1st…
Pennsylvania Marcellus Assets Post Exchange 31,000 net acres;100% END-operated Existing gathering flowing to Emporium < 1 MMCF/d (market constrained) Phase I expansion up to 10 MMCF/d additional capacity by Q4 2013 Three…
Capital Structure ( mm) Pro forma December 31, September 30, September 30, 1 2011 2012 2012 Cash and Deposits 106.0 75.9 104.9 Senior Term Loan, 12% plus 3% PIK, due 2013 240.3 - - Revolving Credit Facility, 13%, due 2013 -…
Corporate Focus North Sea Asset Acquisition Closed acquisition of Alba interests on May 31, 2012 Bacchus Development On-line First two wells on production with field performance at 13,000 boepd gross and above expectations…
NYSE:END LSE:ENDV www.endeavourcorp.com INVESTOR CONTACT: Darcey Matthews Director of Investor Relations 713.307.8711 darcey.matthewsendeavourcorp.com
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