A WORLD CLASS EXPLORATION OPPORTUNITY OIL CAPITAL London, 8 September 2015 Eytan Uliel Commercial Director Ben ProI Finance Director Visit our website: www.bpcplc.com
BPC: Three Key Messages 1. DERISKED & DRILL-READY Jurassic through Cretaceous petroleum system signicant regional analogues 100m of work to-date Hydrocarbon shows evident in historic shelf wells Further de-risked with high…
BPC: Corporate Overview LSE:AIM Listed; code: BPC Board ADR: Bank of New York Mellon Bill Schrader Ex-BP 30 years; Director of Hess and Ophir; extensive industry network and Tax Resident in the Isle of Man Chairman experience; US…
BPC: Licence Summary Acreage: 4 million acres, 16,000 km2, 5 licences Operator: BPC (Bahamas Petroleum Company plc) WI: 100% Water Depth: 550m at drill prospect and over 3D seismic area focus. Work Commitment: exploraMon well…
Regional Carbonate Producing Analogs SENEGAL FAN-1 & SNE-1 Success Wells (Jurassic Source) Regional carbonate play fairway World-class scale Proven Jurassic - Cretaceous oil systems US GOM, Mexico, Florida & Cuba Middle…
Explora/on History: 5 Vintage Shelf Wells 5 prior wells drilled in the Bahamas (1950s to 1980s) all had oil shows Significant charge, but no valid traps drilled off old 2D Further evidence of a working petroleum system in Bahamas…
Modern 3D Provided Imaging & Resolu/on Cuban Border Andros Fold B Fold C Fold C Trend A Fold B Trend A Fold C Trend A Fold B Fold C FoldFold C B Late Cretaceous Fold B Fold C Depth 700 m 950 m Fold B Length 75 kms…
Key Technical Points: All Elements Present Mul/ Billion Barrel Poten/al Established (+7 years BPC technical work, 100m of investment to-date) 1. Regional SeOng: Surrounded by producMve petroleum provinces GoM (on/oshore), Cuba,…
Regulatory & Opera/ng Framework The Bahamas represents an advantaged regulatory and operating environment Westminster-style democracy Regular elections every 5 years Full member of the Commonwealth - Member of CARICOM Established…
Commercial Overview BPC prospect is world-class from a scal perspec/ve No Government parMcipaMon No CorporaMon/Income Tax AXrac/ve net contractor-take - consistent with under-explored No Capital Gains Tax Dictates…
Bahamas E&P Industry Landscape ODP ODP Daily Shipping Density: Bahamas MariMme FREEPORT Aurthority Abaco Grand Bahama Gt. Isaac AtlanRc Ocean Williams Joides 101 Joides 98 Coastal State -1 Andros - 1 Eleuthera…
Environment: Completed Studies Technical: MulMbeam, BackscaIer and Sea BoIom Prole Data Worst Case Discharge CalculaMons Geologic and StraMgraphic Assessment Front End Engineering Design Environmental: Environmental…
Community: Extensive Consulta/ons Government Ministers and ministry ocials Members of the house, Government and ocial opposiMon parMes Other party poliMcal representaMves and members of the civil service Individual Island…
Recent Events: Licence Extensions & Revisions Exis/ng Four Southern Licences Licence extended to Bahamas Cuba MariMme Boundary Internal licence boundaries revised Equivalent area returned to Government zero net change to quanMty…
Recent Events: Revised Legisla/ve Framework Petroleum Bill leading to Act BPC Grandfathered under the old Act by Savings Provision in New Act Petroleum Act Scope for Joint Ventures and Government ParMcipaMon Ability…
Recent Events: Revised Regulatory Framework Petroleum Regulations Details, Structure and Scope of Licence and Leases Process details; Discovery, Appraisal, Renewal, Relinquishment Petroleum (Health and Safety) Regulations Safety…
Licence Schedule and Work Programmes 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2D Fluid Inclusion Acquired Analysis Sequence 1st well prepara/on Fast track 2nd well to commence StraMgraphy 3D PSDM…
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