(AIM: BPC) THE BAHAMAS: A GIANT OIL PROVINCE IN THE MAKING Investor Presentation May 2011 Isle of Man Head Office: IOMA House Hope Street Douglas Bahamas Petroleum Company Plc 2D Seismic Tel: +44 1624 647883 Acquisition…
Bahamas Petroleum Company Corporate Highlights 2010 - Significant Year Significant growth in shareholder value 2D results large structures - first seismic survey since 1987 Two additional licences applied for covering 6,210 km2 JV…
Google Image showing Bahamas Petroleum Company Awarded Licences and Licence Applications 4
Bahamas Petroleum Company Board Alan Burns: Non-Executive Chairman Isle of Man Alan Burns is founder of the Bahamas Petroleum Company Group and has a successful 37 year career in the oil business including founding Hardman Resources,…
Corporate History First Mover Advantage US13.5 Million Spent on Geological, Geophysical and Well Core Acquisition, Evaluation and Processing The Company Paul Crevello is announces appointed as CEO preliminary and Alan Burns…
Five Year Share Price 28 The Company raises 43.3 million 100 at a price of 18.75 pence 26 Bahamas Petroleum Company begins to attract a Company announces 90 number of other well known institutional investors preliminary results…
Bahamas Petroleum Company Technical Team 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 Colorado…
Why The Bahamas Overview A politically stable country, with an uninterrupted parliamentary democracy of over 275 years Commonwealth of The Bahamas Population: 310,426 GDP (US Bn): 7.38 Excellent fiscal terms and English based Rule…
Why The Bahamas Attractive Fiscal Terms Royalty Rates and Leases terms: Production Level Royalty Rate Oil Production, up to 75,000 bopd 12.5% E&P Project Revenues/ BOE Sorted by Free Cash Flow Oil Production, from 75,000 to 150,000…
Bahamas Petroleum Company (Red / Yellow) & Bahamas Petroleum Company / Statoil JV (Blue) Exploration Licences Asset (1) Holder Licence Area The Bahamas Bain Bahamas Petroleum 775,468 acres 2 Licence (offshore) Company 3,138 km The…
Bahamas Petroleum Company Technical Achievements (2006-2011) Retrieved and described original core and cutting samples Completed modern computer workstation analysis: seismic, well logs, gravity and magnetics Petro-physics well…
2011 2D Seismic Grid and Mapped Prospects & Leads Seismic grid plan undertaken by Norwegian seismic companies SeaBird Exploration (www.sbexp.com) in 2011 and Spectrum (www.spectrumasa.com) in 2010. Following various negotiations…
Previous Wells Drilled Core Interpretation Numerous hydrocarbon shows throughout all wells 15
Bahamas Petroleum Company 2010 2D Survey Giant Prospects & DHIs N S Seismic confirms continuity of Reservoir-Seal Pairs Seafloor vent active hydrocarbon seepage creates vent on seafloor 16
Giant Prospects - Bahamas Petroleum Company Map Structure top of Cretaceous PSDM Data 25 Km 17
2011 - 2D Seismic showing top of Cretaceous Across folds A, B and C 5 km Fold A Fold B Fold C Near top Cretaceous Intra lower Cretaceous Jurassic Top lower cretaceous Section is horizontally compressed approximately 2:1. 18
Size of Prospects Identified by January 2011 2D Survey Top Cretaceous Polygons Based on Lowest Closed 50 ms Contour, May 2011 Surface Fold Length (Km) Sq Km Acres Closure 2-way time Comment Color Top Cret. A 59 205 50,600 150-200…
Identified Giant & Super-Giant Leads Tenneco Max Case Most Likely Case Minimum Case Resource est 100% Structural Fill 50% Structural Fill 33% Structural Fill bn bbl bn bbl bn bbl Manta Ray 1.447 0.543 0.049 Sand Shark 1.386 0.244…
Giant Prospects - Bahamas Petroleum Company Map Comparison of 2011 Prospects versus 2007 Leads* Contour Interval 0.100 seconds = 100 ms * 2007 leads outlined in black 21
Cuba Ramps Up Exploration Activity In 2005 Repsol, with partners Statoil and World class operators have been attracted to India ONGC, drilled a well 60 miles west of Cuba and The Bahamas Cay Sal Bank. The group plans to drill another…
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…
Appendix 1. Historical Bahamas Activity 1.1 Great Isaac Oolite Anhydrite Reservoir Seal Pairs 2. Bahamas Petroleum Exploration Programme Update May 2011 3. Seismic Data Analysis February 2011 4. Seismic Data Analysis September 2010…
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…
Great Isaac Oolite Anhydrite Reservoir Seal Pairs G r e a t Is a a c 1 0 ,3 1 3 OM IG cm 1 mm 10,343 OOID GRAINSTONE - PRESERVED INTERGRANULAR (IG) ANHYDRITE SEAL ROCK & LEACHED OOID GRAIN MOLDS (OM) POROSITY NOTE:…
Bahamas Petroleum Company Plc Exploration Update May 2011 RNS Number: 9518D Bahamas Petroleum Company plc 16 May 2011 Exploration Programme Update Bahamas Petroleum Company plc, the oil and gas exploration company with offshore licence…
Bahamas Petroleum Company Plc Exploration Update 16 May, 2011 contd 16 May 2011 Bahamas Petroleum Company plc Highlights from the Report Dr. Paul Crevello, CEO of Bahamas Petroleum Company plc said: I am very pleased to be able to…
Seismic Data Analysis- February 2011 RNS Number : 4546B Bahamas Petroleum Company PLC 18 February 2011 Preliminary onboard processing of recently completed 2D seismic survey in southern Commonwealth of Bahamas waters shows numerous…
Seismic Data Analysis- February 2011, contd ... 1) the 2010 PSTM data indicates that the structures are simple folds and that reservoir-seal strata appear to be continuous across the extent of the structures; 2) continuity of…
Conclusions of the Report The Bahamas: Petroleum system evaluation and hydrocarbon charge potential- October 2010 A study by: Applied Petroleum Technology (UK) Ltd. (www.aptec.no) Oct 2010 conducted independently for Bahamas Petroleum…
Conclusions of the Report The Bahamas: Petroleum system evaluation and hydrocarbon charge potential- October 2010 contd... Maturity: Geothermal gradients are believed to be genuinely low in the area of interest but given the…
Licence Application Update August 2010 Bahamas Petroleum Company News Release 31 August 2010: Bahamas Petroleum Company, (BPC or the Company) the AIM quoted oil and gas exploration company with licences in The Commonwealth of The…
Licence Application Update - August 2010 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 consideration…
Industrial Port, Grand Bahama- 2010 BORCO Oil storage terminal at Freeport Industrial Port is the largest oil storage facility in the Caribbean Tanker off-loading at Freeport Industrial Harbour, Grand Bahama Appendix 7
Buckeye Partners plans to invest millions in BORCO facility - May, 2011 News Article in the Bahamas Tribune BORCO's 318m debt wiped out Monday, May 16, 2011 By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's…
Buckeye Partners plans to invest millions in BORCO facility - May, 2011 contd Revenue from the international operations segment was 45.1 million for the three months ended March 31, 2011, Buckeye Partners said. Revenues included storage…
Statoil acquires rights to SRP and agrees to capital expenditures and upgrades- October 2009 On 22nd October, 2009 Statoil completed the acquisition of SRP Holding Limited, which holds the lease for the South Riding Point crude oil…
Repsol moving ahead with Cuba Oil Plans- April 2011 By: Jeff Franks Tue Apr 5, 2011 www.reuters.com HAVANA, April 5 (Reuters) - Repsol YPF (REP.MC) expects to have a Chinese-built drilling rig in Cuban waters by the end of the summer…
Cuba, Partners to drill 5 Gulf Wells this summer- April 2011 Andrea Rodriguez Associated Press Tuesday April 5, 2011, 5:24 pm EDT HAVANA (AP) -- Cuba and partner companies will begin drilling five oil wells in the Gulf of Mexico this…
Preliminary results for the year ended 31 December 2010 RNS Number: 9518D Bahamas Petroleum Company plc 31 March 2011 Preliminary Results for the year ended 31 December 2010 Bahamas Petroleum, the oil and gas exploration company with…