REDUCING RISK: READY FOR THE DRILL BIT Scarabeo 9 Oil Barrel (AIM: BPC) Email: infobpcplc.com March 2012 Website: www.bpcplc.com
Investment Highlights, Licences interests providing multiple play-types with significant scale potential, commercial terms to provide upside returns, management team with strong track record of value creation Extension of proven Cuba…
Regional Context Our Assets Region has discovered nearly 100 billion bbl oil and 500 tcf gas Nearly 4mm acres under licence equivalent to 672 OCS lease blocks Geology considerably different than U.S. Gulf of Mexico Repsol to spud…
Cuba Drilling Plans Activity Heating up Anticipated BPC well location Announced August spud Currently drilling Anticipated well locations 5
Late Cretaceous and Early Tertiary Compression Late Cret.- Paleocene (70- 50Myrs) Early to Middle Eocene (45-40 Myrs) Middle Eocene to Late Oligocene (40-30Myrs) Late Oligocene to Miocene (25- 22Myrs) Masaferro (1997) 6
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 Anhydrite Middle…
Risk Mitigation Structures, Scale and Potential Targets 2011 2D Seismic with CPR Estimates Nassau Cuban 270 km Border Section is horizontally compressed approximately 2:1 Fold A 5 km 5 km Fold B Fold C 3,000 13 146 11% 135…
CGG BroadSeisTM Acquisition 9
CGG BroadSeisTM: Preliminary 3D Interpretation Cuban Border Nassau Data are of high quality. 3D interpretation being completed in depth rather than time Cretaceous reef/platform imaging is significantly improved. This allows for…
CGG BroadSeisTM: Fold B/C (2011 3D) Aptian Level Cuban Border Nassau Section is horizontally compressed approximately 2:1 Near top Cretaceous Intra lower Cretaceous Aptian Intra lower Cretaceous Base Aptian Top lower Cretaceous…
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…
Risk Mitigation: Farmout Progress 3D Database: fast track processing, interpretation and attributes Seismic facies analysis, Petroleum system development Prospect definition and prioritisation Farmdown: Verification, funding…
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 Barclays Wealth Market…
Key Conclusions New 2D established the playfairway, basin architecture and scale. Indicates historic wells were not valid tests 2D validated to date by 3D fast track interpretation. Seismic facies/lithology and analogue studies…
News flow 2012: Progress Internal and External Bahamas election: timing and result; New mandate Bahamianise: new Board members identified, Bahamian listing (BDR) process underway EIA submitted: public consultation, endorsement,…
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