(AIM: BPC) THE BAHAMAS: A GIANT OIL PROVINCE IN THE MAKING Investor Presentation September 2010 Isle of Man Head Office: IOMA House Hope Street Douglas Tel: +44 1624 647883 Email: infobpcplc.com Website: www.bpcplc.com
BPC Overview BPC was formed in 2005 and listed on AIM UK through a reverse takeover in Sept 2008 Current market capitalisation is approx. US40 million (BPC: AIM) BPC plc is the first oil company to conduct new work in the highly…
BPC Awarded Licences and Applications * * * BPC Granted Licence Areas superimposed on Iraq map for comparison purposes 4
BPC Fundamentals BPC is dedicated to exploration in The Bahamas petroleum province BPC targets high returns by exploring under a tax efficient regime in shallow to moderate water depths Management & Board have significant…
BPCs Technical Data Set A Competitive Advantage BPC has the Only Comprehensive Data Set of Bahamas Geology and Geophysics BPC undertook a successful global search for data which could cost in excess of US500M to acquire today Search…
BPC Board & Senior Management Attending Alan Burns: Chairman & Chief Executive Officer Isle of Man Alan Burns is founder of the BPC Group and has a successful 37 year career in the oil business including founding Hardman Resources,…
BPC Technical Team, Consultants & Capabilities Dr Paul Crevello has over thirty years experience in US domestic and international exploration in more than 40 countries University of Miami (Master of Science in Marine Geology and…
Why Bahamas Overview One of the most politically stable states, with an uninterrupted parliamentary democracy of over 275 years Commonwealth of The Bahamas Population: 335,047 GDP (US Bn): 9.2 Excellent fiscal terms and English…
Why Bahamas Adjacent to Active Oil Systems Prolific oil producing region... Regions attracted world class operators... Gulf of Mexico The Bahamas Cuba Mexico Cantarell Venezuela * Columbia * Trinidad * Cay Sal and 3rd…
Why Bahamas Compelling Fiscal Terms Royalty Rates, Leases terms: Production Level Royalty Rate Oil Production, up to 75,000 bopd 12.5% Government Take of Project Pre-Tax NPV (%) Oil Production, up to 75,000 to 150,000 bopd 15.0% Oil…
BPC (Red/Yellow) & BPC / Statoil JV (Blue) Exploration Licenses Asset (1) Holder License Area The Bahamas Bain 775,468 acres 2 License (offshore) BPC 3,138 km The Bahamas Cooper 777,934 acres 2 License (offshore) BPC 3,148 km The…
BPC Technical Achievements (2006-2010) Retrieved and described original core and cutting samples Completed modern computer workstation analysis: seismic, well logs, gravity and magnetics Petrophysics well log analysis on original…
Historical Bahamas Activity WELL YEAR OPERATOR TOTAL AGE AT TOTAL DEPTH DEPTH Andros Island 1 1947 Superior 4.446m Early Cretaceous Cay Sal 1 1959 Bahamas 5.763m Jurassic or Early California Cretaceous Long Island 1 1970 Bahamas…
BPCs Leads & 2010 Seismic Survey 10 nm Seismic Objectives: Obtain modern survey over historical lines Verify integrity and interpretation of existing data Test seismic acquisition parameters Refine existing interpretation…
BPCs BH 2010 - 2D Seismic Survey (June 2010) N C4 S 2 km 1 sec 2 sec 3 sec N C4 S 2 km 1 sec 2 sec 3 sec 17
Identified Giant & Super-Giant Leads Tenneco Max Case 100% Structural Fill Most Likely Case 50% Structural Fill Minimum Case 33% Structural Fill Resource est bn bbl bn bbl bn bbl Manta Ray 1.447 0.543 0.049 Sand Shark 1.386…
Farm out objectives [assumes Statoil leases granted] BPC Statoil Joint Venture covers three blocks over 942,391 hectares (2,328,700 acres) BPC is fully carried up to drilling stage while retaining a significant interest Anticipated…
Corporate Overview GBP USD Price 3.00 4.65 BPC PLC Isle Of Man 52 Week High 5.25 8.41 52 Week Low 1.63 2.61 100% Shares Outstanding 859.5 - BPC Ltd. Bahamas Market Cap (mm) 25.8 40.0 Cash and Cash Equivalents (mm) 2.10 3.4 Debt…
Corporate History First Mover Advantage 30 September 2010 - Bahamian Government announces temporary freeze on licence applications BPC is founded Announces by Alan Burns commencement of Board expands to Five licences BPC applies for…
BPC Share Price Chart 6.0 50,000,000 BPC applies for 2 new BPC begins to attracts a number licences in the Bahamas BPC raises 2.4 million other of well known institutional From institutional shareholders 45,000,000 investors and…
Key Conclusions First mover advantage in assembling acreage in The Bahamas Oil province with World-class exploration potential Strategy to use farm outs and also retain 100% owned acreage Size and scale of the opportunity attractive…
Appendices 24
Licence Application Update - August 31/2010 BPC News Release 31 August 2010: BPC, the AIM quoted oil and gas exploration company with licences in The Commonwealth of The Bahamas, notes the announcement from the Ministry of the…
Licence Application Update - August 31/2010 Recent News Article in The Bahamas Tribune: Govt suspends consideration process for oil exploration August 31, 2010 By TANEKA THOMPSON Tribune Staff Reporter GOVERNMENT has suspended the…
Cuba Ramps up Exploration Activity Region has recently attracted world class operators have been attracted to Cuba and The Bahamas In 2005 Repsol with partners Statoil and India ONGC drilled a well 60 miles west of Cay Sal bank. The…
Industrial Port, Grand Bahamas Borco Oil storage terminal at Freeport Industrial Port Tanker off-loading at Freeport Industrial Port is the largest oil storage facility in the Caribbean Tanker off-loading at Freeport Industrial…
Great Isaac 1 Possible Gas Zone Key Intervals Support Presence of Hydrocarbons 17,200 TOTAL GAS OVER- PRESSURE ZONE 17,400 CALCULATED GAS IN DOLOMITE 17,600 BLEEDING OIL GAS & CONDENSATE IN FRACTURES CORE 5 Over…
Porosity Reservoir-Seal Pairs Doubloon Saxon 1 Moved Hydrocarbons Hydrcarbons Shale Shale Matrix Unmoved Oil S = Sandstone Oil L = Limestone Porosity & Hydrocarbon Saturation Profile 100 ft of 18% Porosity Moved Oil D =…
Great Isaac Oolite Anhydrite Reservoir Seal Pairs G r e a t Is a a c 1 0 ,3 1 3 cm 1 mm 10343 OOID GRAINSTONE - PRESERVED INTERGRANULAR ANHYDRITE SEAL ROCK POROSITY & LEACHED OOID MOLDS EXCELLENT RESERVOIR POROSITY &…
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