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IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc.

Bpz Resources, Inc. · Sep 22, 2014 · 20 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. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 1
    IPAA Oil & Gas Investor Symposium San Francisco, California September 22-23, 2014
  2. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 2
    BPZ Energy Four Blocks in Northwest Peru and one in Southwest Ecuador Multiple Plays with Multiple Existing Offshore 3-D Seismic Prospects in Each Play Existing Onshore 3-D Seismic BLOCK XIX BPZ (51%) and Pacific Rubiales…
  3. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 3
    Key Numbers Share Price: (1) 2.44 52-Week Range: (1) 1.58 - 3.40 Shares Outstanding: (2) 119 million Market Capitalization: (1) 290 million Total Enterprise Value: (1) 452 million Proved Oil Reserves: (3) 16 million barrels PV-10…
  4. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 4
    Company Focus Grow Continue Z-1 Development Drilling OPERATIONS Appraise Delfin Production Continue Onshore Exploration Grow Cash Flow Improve Cost Structure FINANCE Capital Discipline Grow Manage Cash Reserves 5
  5. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 5
    Production Growth and Cost Reduction Underway BLOCK Z-1: Historical Average Quarterly Gross Production BOPD 8,000 4 New wells First Half 2014 LOE 27/ bbl plan to be 7,000 completed vs. by year-end 6,000 First half 2013 LOE 56/ bbl…
  6. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 6
    First Half 2014 vs. 2013 Comparison US 000's, unless noted First Half First Half Variance 2014 2013 Production (bopd) 2,593 1,457 + 1,136 Net realized price per barrel 99.77 98.48 + 1.29 Revenue 45,231 26,127 + 19,104 Operating…
  7. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 7
    Reserves Summary Proved Reserves by Category (MMBo) Proved Reserves by Field (MMBo) PDP Albacora 3.2 MMBo 3.4 20% MMBo 21% PUD 12.9 Corvina MMBo 12.7 80% MMBo 79% Total 1P reserves: 16.1 MMBo Total Reserves (MMBo) 3P…
  8. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 8
    Block Z-1 Increase Capture upside oil Appraise prior Explore prospects production at and gas potential discoveries in in shallow waters Corvina and at Corvina and Delfin and starting with Raya Albacora Albacora Piedra Redonda 9
  9. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 9
    Capturing Corvinas Upside CX15-10D well currently being drilled Gas lift system implementation One more well targeted for 2014 Five wells have surpassed 1 Mmbo 11 more gross PUDs left to be drilled Field area 1,500 acres Structure…
  10. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 10
    Albacora Development A-18D side track well being completed Gas lift system implementation One more PUD well budgeted for 2014 A-14XD well has exceeded 1 Mmbo Albacora, Top MidZorritos / Structural Map A-18DST PLATFORM…
  11. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 11
    Planning to Drill Delfin Next Year Drilling permit already in hand Prospective area is 3,000 acres Tennecos 39-X-1 well tested oil Delfin platform to be 4 miles from CX-15 OIL AREA CX11 Corvina CX15 39-X-1 B-17-X…
  12. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 12
    Raya: Zorritos Oil Potential Potential size of 7,500 acres Also in less than 300 ft. of water Drilling permit already in hand 10 miles from Corvina CX-15 platform 13
  13. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 13
    Piedra Redonda Anchors the Mancora Gas Play Belco discovered dry gas with C-18-X well Piedra Redonda prospect is 11,000 acres Near coastline in 200 ft. of water Drilling permit already in hand PACIFIC OCEAN PC P -3X EEC-2X Block…
  14. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 14
    Onshore Block XXIII Caracol 1X Well Site Three shallow exploration wells have tested Cardo 2X Well Site hydrocarbons: Caracol 1X tested gas in the Heath and Zorritos formations Cardo 2X and Piedra Candela 3X tested gas in Workover…
  15. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 15
    Block XXII: Multiple Plays in 1 Million Acres Pursuing Cretaceous age conventional Adjacent operator producing oil from and unconventional plays Redondo and Muerto formations Muerto formation is a brittle shale, rich in Drill in 2015…
  16. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 16
    Revised 2014 Capital & Exploratory Budget Millions Offshore Block Z-1 (51% BPZ) Corvina CX-15 development drilling (6 wells) 40 Albacora drilling (4 wells plus 18D sidetrack) 36 Projects & engineering 17 Total BPZ Net Offshore 93…
  17. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 17
    Summary Business Plan 2014 2015 Offshore Block Z-1 Offshore Block Z-1 Corvina CX-15: Now drilling 10D well Corvina and Albacora PUDs to PDPS and P2 to PUDs Then drill up to one more PUD Drill and develop Delfin Albacora: Now…
  18. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 18
    Investment Highlights Well Positioned 15 gross producing wells(1) (7.7 net) from Block Z-1 with current production from two fields Offshore Acreage with 1.9 million net acres in multiple plays with multiple prospects Established…
  19. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 19
    Thank You Manolo Ziga President & CEO Rick Menniti Chief Financial Officer A. Pierre Dubois Director, Investor Relations & Corp. Communications 580 Westlake Park Blvd., Suite 525 Houston, Texas 77079 (281) 281-556-6200…
  20. IPAA OIL GAS INVESTOR SYMPOSIUM – Bpz Resources, Inc. – slide 20
    Appendix GAAP Reconciliation Reconciliation of non-GAAP measure The table below represents a reconciliation of EBITDAX to the Companys net loss, which is the most directly comparable financial measure calculated in accordance with…

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