Strategic Business Combination of Sea Dragon and Madison The Transaction announced on August 19, 2015 consists of the combination of Sea Dragon Energy Inc. (Sea Dragon) and Madison PetroGas Ltd. (Madison) Sea Dragon and Madison have…
Rationale for the Transaction* Shareholder Value Sea Dragon and Madison have complementary portfolios with a continued focus on Egypt development projects Sea Dragon and Madison agreed on a NAV-to-NAV deal which is an attractive option…
Highlights of the Combined Entity* Vision Company will be a solid corporate play based upon an Egyptian development and acquisition strategy Corporate value underpinned by reliable and low cost production Creates two paths to growth…
Portfolio of Combined Assets* Portfolio of combined assets Egypt Block H and NW Gemsa are well developed producing assets Continue developing both assets with drilling of producing and water injection wells Seismic acquisition…
Larger Company Provides a Platform for Growth* Madison Petrogas Limited Sea Dragon Energy Inc. Total Proven Reserves (MMBOE) 1.2 Total Proven Reserves (MMBOE) 1.9 Proven + Probable Reserves (MMBOE) 2.2 Proven + Probable Reserves…
How We Expect to Create Value for Shareholders (*) Near Term Acquisition(s): + Approach Critical Mass (Targeting net 2,000 5,000 BOE/d) Sea Dragon & Madison Merger: Focused portfolio with Platform for Growth producing reserves plus…
Conclusions (*) Combined companies have a good mix of near term production plus exploration upside Improved ability to capture investor interest and access capital markets Better Together Enhanced balance sheet funding the internal…
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