(AIM: BPC) THE BAHAMAS: A GIANT OIL PROVINCE IN THE MAKING Investor Presentation March 2011 Isle of Man Head Office: IOMA House Hope Street Douglas Bahamas Petroleum Company Plc 2D Seismic Tel: +44 1624 647883 Acquisition…
Google Image showing Bahamas Petroleum Company Awarded Licences and Licence Applications 3
Bahamas Petroleum Company Group Overview Formed in 2005 and listed on the AIM market in Sept 2008 (reverse takeover) Current market capitalisation is approx. US320 million (GBP200 million) as at 01/03/11 (BPC: AIM) First oil company to…
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 Over US13.5 Million Spent on Geological, Geophysical and Well Core Acquisition, Evaluation and Processing Announces Paul Crevello is preliminary appointed as CEO 3D Seismic results of and…
Five Year Share Price 28 100 Bahamas Petroleum Company 26 Bahamas Petroleum Company begins to attract a announces preliminary results of 2D number of other well known institutional investors and seismic 90 further broadens…
Bahamas Petroleum Company 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…
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 Petrophysics 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 C4 S 2 km 1 sec 2 sec 3 sec Diffuse chimneys above structure Direct Hydrocarbon Indicator (DHI) Seafloor vent active hydrocarbon seepage creates vent…
Seismic Data Analysis September 2010 Dim spots Water bottom evulsion features Flat reflectors 5 Kms Stratigraphic variations, amplitude and frequency variations associated with porosity and/or hydrocarbons; C4 structure with…
Giant Prospects - Bahamas Petroleum Company Map Structure top of Cretaceous 25 Km Contour Interval 0.100 Seconds = 100 ms Prospects 18
2011 - 2D Seismic showing top of Cretaceous Yellow horizon mapped during survey to define structures 0.500 Seconds TWT 5 Km High/Shallow 3.500 Seconds TWT Low/Deep Brut stack seismic display processed on board vessel during…
Size of Prospects Identified by January 2011 2D Survey Table 1 Polygons Based on Lowest Closed 50 ms Contour, February 2011 Polygon Length Sq Km Acres Closure Comment F11-C1 55 200 49,400 50-150 ms closure Based on 1.150 closed…
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* 25 Km Contour Interval 0.100 Seconds = 100 ms * 2007 leads outlined in black 22
Cuba Ramps Up Exploration Activity Previous drilling in the area of Cay Sal Bank World class operators have been attracted to has been undertaken by Repsol, with Cuba and The Bahamas partners Statoil and India ONGC. The group plans to…
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. Seismic Data Analysis February 2011 3. Seismic Data Analysis September 2011 4. The Bahamas: Petroleum system evaluation and…
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:…
Seismic Data Analysis February 18, 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…
Seismic Data Analysis September 2010 DG Consultant Services 607A Kipling St., Houston, Texas 77006, 713 927 2251 September 15, 2010 Introduction: Bahamas Petroleum Corporation (Bahamas Petroleum Company) acquired 194 kilometers…
Conclusions of the Report The Bahamas: Petroleum system evaluation and hydrocarbon charge potential A study by: Applied Petroleum Technology (UK) Ltd. (www.aptec.no) Oct 2010 conducted independently for Bahamas Petroleum Company…
Conclusions of the Report The Bahamas: Petroleum system evaluation and hydrocarbon charge potential contd... Manifestation: Live hydrocarbon shows have been encountered during drilling of at least four of the five deep wells drilled in…
Licence Application Update - August 31, 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 31, 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…
Industrial Port, Grand Bahama 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 6
Buckeye Partners Completes acquisition of 100% interest in Bahamas Oil Refining Co. Ltd February 16, 2011 Buckeye Partners, L.P. (Buckeye) (NYSE: BPL) announced today that it has completed the purchase of the 20 percent interest in FR…
Statoil acquires rights to SRP and agrees to capital expenditures and upgrades On 22nd October, 2009 Statoil completed the acquisition of SRP Holding Limited, which holds the lease for the South Riding Point crude oil terminal in…