Canaccord Genuity Global Resources Conference October 16, 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 1,000 810 715 500 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 * On 12/27/11, END announced the acquisition…
Expected 2012 Exit Position of Endeavour GDF Suez Premier 100 EnQuest DONG Energy Hess Corporation OMV 80 RWE Dea 2P Reserves (MMboe) Dyas Canadian Natural Resources E.ON Ruhrgas 60 ATP Oil & Gas Marathon Endeavour…
Production sold into higher-valued European markets Crude oil Natural gas Average spread over the period: 15.20(1) Average spread over the period: 4.07(3) 12 120 11 9 105 8 7.56 23.45 spread(4) spread(2) 6 90 5…
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: Q4 2012 Goldeneye Project in execution…
Rochelle Field - Development Status 2012 Achievements Pipeline section fabrication completed Commenced full pipeline completed Deliveries on target Beds on the platform allocated Regulatory consents in place Drilling commenced on…
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…
MacCulloch Field - Details Cumulative production to date 114 MMbbl gross Plan to assume operatorship from ConocoPhillips on completion of acquisition Plans to perform a detailed asset performance review: Evaluation of infill /…
Overview of Endeavours US Assets US Q2 2012 542,000 gross / 146,000 net acres Heath Shale Oil Play - MT 15.4 MMCFe/D net production Marcellus Play - PA Cretaceous Plays - CO Haynesville Play LA/ E. TX 18
Heath Shale Tight Oil Play in Central Montana Heath Play, END Activity 25% joint venture with two independent Montana producers 430,000+ gross acres primarily in Garfield and Rosebud Counties (94,000 net to END) Re-entry of 1st…
The Haynesville and Marcellus Plays Low cost entry with limited drilling requirements Endeavours Marcellus and Haynesville acreage largely held by production No wells currently drilling Future capex is at Endeavours discretion,…
Capital Structure ( mm) Pro forma December 31, June 30, June 30, 1 2011 2012 2012 Cash and Deposits 106.0 94.7 135.2 Senior Term Loan, 12% plus 3% PIK, due 2013 240.3 - - Revolving Credit Facility, 13%, due 2013 - 100.0 115.0…
2012 Capital Plan by Project - 175mm to 200mm 120 100 80 mm 60 40 20 0 Rochelle Bacchus UK Other US 2012 is About Turning On and Maintaining North Sea Production Note: Capital Plan is pro forma for the North Sea…
Corporate Focus North Sea Asset Acquisition Closed acquisition of Alba interests on May 31, 2012 Closing on the acquisition of MacCulloch and Nicol field interests Bacchus Development On-line First two wells on production with…
NYSE:END LSE:ENDV www.endeavourcorp.com INVESTOR CONTACTS: Mike Kirksey Darcey Matthews Chief Financial Officer Director of Investor Relations 713.307.8788 / +44.207.451.2381 713.307.8711 mike.kirkseyendeavourcorp.com…
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