(AIM: BPC) Email: infobpcplc.com MITIGATING RISKS: Website: www.bpcplc.com READY FOR THE DRILL BIT Simon Potter Chief Executive Officer March 21st 2012
Investment Highlights Multiple play-types with scale potential Proven Cuba fold belt/thrust sheet plays drilling now CPR highlights multiple billion barrel prospects (only Cretaceous level assessed) average CoS 25% Fiscal terms…
Company Technical Political Commercial Environmental Summary
Bahamian Licenses Regional (Cuba) Drilling Plans Anticipated well locations Currently drilling 8/2012 spud Region has discovered nearly 100 billion bbl oil and 500 tcf gas Nearly 4mm acres under license…
Capital Structure Enterprise Value GBP USD Current Substantial* Shareholders as at 31 st December 2011 Price* 0.1375 0.2176 Shareholder 52 Week High 0.2450 0.3877 TD Waterhouse 52 Week Low 0.0539 0.0853 Fidelity Market Cap (mm) 169.2…
Funding - Sources and Uses Sources Uses (Estimated - beginning 2011 to end 2012) Current sources USm Operating expenditures USm Cash as at 1/1/11 6.1 2D seismic 3.4 Cash raised 1 70.1 3D seismic 33.3 TOTAL SOURCES 2 76.2 Multibeam…
Company Technical Political Commercial Environmental Summary
Previous Drilling Petroleum System Development No or poor seismic data No valid traps Wells on bank Limited seal facies shallow No Jurassic source penetration Seafloor vent active hydrocarbon seepage creates vent on…
Source, Reservoir and Seal Lithologies Position of Bahamas Platform Source Development Jurassic: Optimal climate for source rock development regardless of marine (probable) or lacustrine (possible) Early Jurassic: 6-8 N in the humid…
Diverse Petroleum Systems and Play-types Cuba Bahamas Thrust Belt Santaran Channel/Paleobank Bimini/Andros Platform SSW NNE Cay Sal Great Isaac Sea Floor 1. Jurassic Paleo Highs, Clastics & Subsalt Middle Jurassic…
CGG BroadSeisTM: Preliminary 3D Interpretation Cuban Border Trend A Fold B Fold C Nassau Section is horizontally compressed approximately 2:1 Data are of high quality Cretaceous reef/platform imaging is significantly improved.…
CGG BroadSeisTM: Fold B/C (2011 3D) Aptian Level Cuban Border Trend A Fold B Fold C Nassau Section is horizontally compressed approximately 2:1 Near top Cretaceous Intra lower Cretaceous Aptian Intra lower Cretaceous Base Aptian…
CGG BroadSeisTM: Fold B (2011 3D) Lateral Continuity NW Demonstrating Strike Closure SE Section is horizontally compressed approximately 2:1 Near top Cretaceous Intra lower Cretaceous Aptian Intra lower Cretaceous Base Aptian…
Technical Highlights 2011 CPR assessment of Cretaceous only - based upon 2D Single penetration could test a mean unrisked recoverable volume of in excess of 2 billion bbls across a number of stratigraphic levels Reservoir rated as…
Company Technical Political Commercial Environmental Summary
Bahamas News flow 2012 Bahamianise New Bahamas based Board members Respected members of business community Bahamas (BISX) Listing BDRs conditions precedent, cost, non-dilutive, existing ADRs Dialogue with Securities Commission and…
Company Technical Political Commercial Environmental Summary
Commercial Context and Fiscal Terms Commercial North Sea scale comparison Politically stable; parliamentary democracy 275 years English heritage legal system and structure Significant structural cost benefits from proximity to…
Risk Mitigation: Farmout Progress 3D Database: fast track processing, interpretation and attributes Seismic facies analysis, Petroleum system development, DHIs Prospect definition and prioritisation Farmdown: Verification, funding…
Company Technical Political Commercial Environmental Summary
Risk Mitigation Environment; EIA, Spill Simulation BPC EIA for Southern blocks submitted to Government October 2011 Consultation period complete. Government decision on public consultation pending Joint Statoil/BPC EFS submitted to…
Company Technical Political Commercial Environmental Summary
Key Conclusions 2D established the playfairway, basin architecture and billion barrel risked potential. Multiple independent play systems, but historic wells were not valid tests. Individual well tests/prospects could prove…
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