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September 2014 Investor Presentation – Bahamas Petroleum

Bahamas Petroleum · Sep 19, 2014 · 33 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. September 2014 Investor Presentation – Bahamas Petroleum – slide 1
    Bahamas Petroleum Company Shareholder Meeting London, September 2014 Bill Schrader Chairman Simon Potter Chief Executive Officer Ben Proffitt Finance Manager BPC 2013/14 Review & 2015 Outlook September 2014
  2. September 2014 Investor Presentation – Bahamas Petroleum – slide 2
    Agenda Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  3. September 2014 Investor Presentation – Bahamas Petroleum – slide 3
    Overview A clear strategy: create shareholder and stakeholder value through an exclusive focus on the Companys oil & gas exploration assets in the Bahamas, which are potentially a world-class, multi-billion barrel resource. A…
  4. September 2014 Investor Presentation – Bahamas Petroleum – slide 4
    Overview B Sth-1 B Nth-1 C-1 Effective management & operations: Drilling objective - 60 million Options Data room feedback Geophysics Geochemistry Fold B Fold B North South Fold C Capitalised Cost of Assets USm Sound…
  5. September 2014 Investor Presentation – Bahamas Petroleum – slide 5
    Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  6. September 2014 Investor Presentation – Bahamas Petroleum – slide 6
    2013/14 Review Regulatory Regulatory challenges: Regulatory achievements in 2013/14: Referendum on future industry ac1vi1es Government not pursuing an exploraCon referendum, removing crucial uncertainCes Company's licences…
  7. September 2014 Investor Presentation – Bahamas Petroleum – slide 7
    2013/14 Review Regulatory Petroleum Act Sovereign Wealth Fund Act Petroleum Regulations Operations Environment and Pollution Health and Safety BPC 2013/14 Review & 2015 Outlook September 2014
  8. September 2014 Investor Presentation – Bahamas Petroleum – slide 8
    2013/14 Review Farm-out The cost of iniCal exploraCon drilling will require the Company to access addiConal capital. Preference for a technical farm-in partner Successful comprehensive data-room to date Hosted visits from a…
  9. September 2014 Investor Presentation – Bahamas Petroleum – slide 9
    Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  10. September 2014 Investor Presentation – Bahamas Petroleum – slide 10
    2013/14 Review - Summary Business achievements But, market underperformance Technical 10.00 BPC(P) FTSE Oil & Gas All Share FTSE AIM All Share 80 Alternative wells designed and costed 9.00 70 8.00 Risk reduction data room…
  11. September 2014 Investor Presentation – Bahamas Petroleum – slide 11
    Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  12. September 2014 Investor Presentation – Bahamas Petroleum – slide 12
    2013/14 Review Finance Financial highlights: 2013 overall operating loss down 17% on prior period Employee benefits expense reduced 17% Operating Cash Burn reduced by 30% over 2 years Estimated cash balance 10m at end 2014. BPC is…
  13. September 2014 Investor Presentation – Bahamas Petroleum – slide 13
    Company Overview GBP USD Price* 0.0215 0.0357 Signicant Shareholders as at 1 September 2014 52 Week High 0.0599 0.0994 TD Waterhouse 52 Week Low 0.0148 0.0246 Hargreaves Lansdown Market Cap (mm) 26.5 43.9 HSDL Cash and…
  14. September 2014 Investor Presentation – Bahamas Petroleum – slide 14
    Share Price Performance 10.00 BPC(P) FTSE Oil & Gas All Share FTSE AIM All Share 80 9.00 70 8.00 60 7.00 Price (Rebased to BPC) 50 6.00 Volume (m) 5.00 40 4.00 30 3.00 20 2.00 10…
  15. September 2014 Investor Presentation – Bahamas Petroleum – slide 15
    Market ValuaOon of E&P Sector Canaccord Genuity BPC 2013/14 Review & 2015 Outlook September 2014 Page 16
  16. September 2014 Investor Presentation – Bahamas Petroleum – slide 16
    Global Oshore Rig Supply BPC 2013/14 Review & 2015 Outlook September 2014 Page 17
  17. September 2014 Investor Presentation – Bahamas Petroleum – slide 17
    Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  18. September 2014 Investor Presentation – Bahamas Petroleum – slide 18
    2013/14 Review Technical Drilling Cost Challenge Location Design Philosophy Subsurface Risk Reduction Source Charge / Structure Reservoir & Seal / Fracturing Timing BPC 2013/14 Review & 2015 Outlook September 2014 Page 19
  19. September 2014 Investor Presentation – Bahamas Petroleum – slide 19
    Bahamas Foreland Basin ExploraCon Proven oil systems in region Multiple play-types, untested in offset wells Structural: robust 4-way dip closures Stratigraphic: regional analogues FLORIDA Multiple billion barrel potential…
  20. September 2014 Investor Presentation – Bahamas Petroleum – slide 20
    SchemaOc SecOon - Play Types Drilling LocaOon OpOons Talus deposits Talus (Albian Reef) Mid Cretaceous (Cenomanian Reef) Golden Lane Analogue) Low Velocity facies Cenomanian Albian South B Nth-1 Reef Reef B Sth-1 C-1 North…
  21. September 2014 Investor Presentation – Bahamas Petroleum – slide 21
    SchemaOc SecOon - Play Types Drilling LocaOon OpOons Talus deposits Talus (Albian Reef) Mid Cretaceous (Cenomanian Reef) Golden Lane Analog) Low Velocity facies Cenomanian Albian South B Nth-1 Reef Reef B Sth-1 C-1 North…
  22. September 2014 Investor Presentation – Bahamas Petroleum – slide 22
    Well Design Philosophy Fold B Fold B North South Fold C Ter4ary Pelagics Ter4ary Pelagics Ter4ary Pelagics 10km. Approx. Late Cretaceous Pelagics Late Cretaceous Pelagics Late Cretaceous Pelagics Upper Albian Pla1orm…
  23. September 2014 Investor Presentation – Bahamas Petroleum – slide 23
    Petroleum System Elements 2014 Work Source intervals in key wells correlate to FacilitaCon of HC migraCon by faults and fractures MulCple, stacked, proven carbonate reservoirs those in Florida and Cuba. This high quality associated…
  24. September 2014 Investor Presentation – Bahamas Petroleum – slide 24
    Petroleum System Elements VerOcal Anomalies Diameter: 500 m Diameter: 1,000 m Depth: 55 m Depth: 10 m 7930'0W 7920'0W 7910'0W 795'0W 790'0W 7855'0W 7845'0W 7835'0W 7825'0W 2310'0N 2315'0N 2320'0N 2325'0N 2330'0N 2310'0N…
  25. September 2014 Investor Presentation – Bahamas Petroleum – slide 25
    Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  26. September 2014 Investor Presentation – Bahamas Petroleum – slide 26
    2013/14 Review OperaOons Objective: ensure BPC is in a strong state of operational readiness to commence drilling at short notice in full compliance with anticipated best practices Activities: Detailed preparation of required…
  27. September 2014 Investor Presentation – Bahamas Petroleum – slide 27
    Environment Impact Assessment - Approved Regulations and Standards International best practices embodied in already approved EIA No sensitive environments in vicinity of drill site Equipment and Procedures Spill Response Low…
  28. September 2014 Investor Presentation – Bahamas Petroleum – slide 28
    Environmental SensiOvity Maps Environmental SensiCvity Maps SensiCvity Index Maps BPC 2013/14 Review & 2015 Outlook September 2014 Page 29
  29. September 2014 Investor Presentation – Bahamas Petroleum – slide 29
    Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  30. September 2014 Investor Presentation – Bahamas Petroleum – slide 30
    Conclusions 2015 Outlook 2013 / 2014 FoundaOons Laid 2015 Time to Execute World-scale prospects established Financing Mul1ple plays and prospects Process underway Substan1al billions of barrels poten1al Refresh Technically…
  31. September 2014 Investor Presentation – Bahamas Petroleum – slide 31
    Chairmans Overview Current Commercial Issues 2013 / 2014 Review Finance Technical Operations 2015 Outlook Summary BPC 2013/14 Review & 2015 Outlook September 2014
  32. September 2014 Investor Presentation – Bahamas Petroleum – slide 32
    2013/14 Review - Summary Two Key Messages BPCs singular focus is to responsibly and safely commence drilling on its Bahamian oil & gas exploraCon licences, a potenCally world-class mulC-billion barrel resource, requiring…
  33. September 2014 Investor Presentation – Bahamas Petroleum – slide 33
    Thank you BPC 2013/14 Review & 2015 Outlook September 2014

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