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CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited

Red Fork Energy Limited · Oct 31, 2013 · 24 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. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 1
    Investor Presentation Canaccord Genuity Global Resources Conference October 2013 www.redforkenergy.com.au
  2. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 2
    Contents 1. Red Fork Overview 2. Corporate Structure 3. FY 2013 Results 4. Strategy for Growth 5. Investment Proposition 6. Asset Overview 7. Oil & Gas Reserves as at June 30, 2013 8. Mississippian/Woodford Development Areas 9. CY 2013…
  3. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 3
    Red Fork Overview Activities Independent oil and gas exploration and production company focused in the mid-continent of the United States. Positioning Large highly scalable predominantly operated acreage position in a premier oil…
  4. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 4
    Corporate Structure Capital Structure Major Shareholders Shares on issue 499.6 mm 1 Perpetual Ltd 57.3mm 11.5% Unlisted options & Perf. Rights 1 17.0 mm 2 HSBC Custody Nominees Ltd 40.8mm 8.2% Last share price2 (A) 0.48 3 Kinetic…
  5. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 5
    FY 2013 Review Accelerating Revenue & Profits Reserve Growth Revenue of US18.2m, up from 1P net reserves 14 mmboe US6.2m in FY12 (NPV US196.3m) Gross profit US11.3m, up from 3P net reserves 28.3 mmboe US2.7m in FY12 (NPV US379.7m)…
  6. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 6
    FY 2013 Review Balance sheet strengthened Pro-forma June year end cash of US45m (including capital raising proceeds less costs) Debt availability increased to US45m US100m reserves based lending facility Strengthened Board &…
  7. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 7
    Strategy for Growth Grow Production 2013+ Grow Improve operational productivity and deliver Capabilities production and reserve growth 2012 Build technical, Grow Assets management and financial capabilities to secure 2010…
  8. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 8
    Investment Proposition Valuable Assets Highly scalable predominantly operated acreage with net 3P reserves plus contingent resources of 66.4 mmboe (PV10 US 750mm) Premier Location 77,000 net acres East of the Nemaha Ridge in the…
  9. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 9
    Asset Overview 77,000 net acres in the Big River Project (Mississippian/Woodford acreage) preferred part of the Mississippian/Woodford play east of the Nemaha Ridge Favorable structural setting (natural fracturing) and GORs (+70%…
  10. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 10
    Reserves as at June 30, 2013 Improved operational performance delivers average EUR of 260 mboe and NPV of US 4.4 million for wells drilled since January 1, 2013 Potential for considerable additional upside from increased well density…
  11. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 11
    Mississippian/Woodford Development Areas Ten development areas Big River Project (Mississippian/Woodford acreage) with acreage leased for drilling locations Focused in counties where 90% of the historical vertical producers were…
  12. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 12
    2013 Optimization Initiatives Acquisition & Interpretation of 3D Seismic Implemented program to permit, shoot and interpret 3D seismic across Mississippian/Woodford acreage Approximately 160 square miles already acquired and…
  13. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 13
    2013 Optimization Initiatives Utilization of Jet Pumps for initial production Initial production via a Jet Average Gross Boe per day Pump for more controlled flow 30 Day 60 Day 90 Day back Mawson 1-3H 311 249 195 More effective…
  14. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 14
    2013 Optimization Initiatives Drilling cycle times Avg. spud-to-spud times have been reduced from 35 days to 20 days in last 6 months Reduced drilling cycle times due to: Lateral targeting of certain lithological zones (including…
  15. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 15
    2013 Optimization Initiatives Spud-to-sales cycle times Reduced average spud-to-sales cycle times in six-months from 130 to 36 days Produced water disposal and tank batteries facilities constructed in new areas prior to drilling…
  16. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 16
    2013 Optimization Initiatives Evolution of reservoir stimulation designs Introduce real-time monitoring of stimulation operations Utilize specialist consultants in the reservoir stimulation design process Monitoring results from…
  17. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 17
    September 2013 Operations Update HBP program continues to deliver strong production growth with September gross production averaging 3,085 Boe per day (up 25% on the previous month) Net production averaged 2,270 Boe per day for…
  18. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 18
    Forward Program HBP drilling program set to deliver material production and reserve growth 250 30% of acreage HBPd by end of CY 2013, 70% HBPd by end of CY 2014 200 CY13 exit production target (net to Red Forks working interest)…
  19. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 19
    Why own Red Fork Pure play exposure to premier Mississippian/Woodford Shale oil resource play Large, strategic, highly scalable, predominantly operated acreage position in the preferred position east of the Nemaha Ridge Highly…
  20. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 20
    Thank You. ASX: RFE, OTCQX: RDFEY 22
  21. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 21
    Appendix Reserve Methodology and Assumptions The economic model used to establish the net present value for these reserves uses SEC pricing method, based on a constant price of US92.14 per barrel for oil and a constant price of US3.25…
  22. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 22
    Appendix Big River Mississippian Reserves and Resources ASX: RFE, OTCQX: RDFEY 24
  23. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 23
    Appendix Glossary and Definitions 1P Reserves Proved reserves which have at least a 90% probability that the quantities actually recovered will equal or exceed the estimate. 2P Reserves Proved plus probable reserves which have at least a…
  24. CANACCORD GENUITY GLOBAL RESOURCE CONFERENCE – Red Fork Energy Limited – slide 24
    Appendix Glossary and Definitions (continued) HBP HBP Program means the Held by Production drilling program. MBOE Thousand barrels of oil equivalent. MMBOE One million barrels of oil equivalent. MCF One thousand standard cubic feet of…

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