For personal use only Maverick Drilling & Exploration Limited Capital raising presentation September 2016 1
Capital raising overview For personal use only Placement Private placement of 250 million shares to sophisticated and professional investors structure to raise approximately AU15 million To be settled and allotted in two tranches: o…
Use of placement proceeds For personal use only Acquisition of Maverick currently has leases over 6,000 net contiguous acres in the Eagle Ford and additional 7,000 more net acres in progress of which 2,500 acres are expected to close…
Timetable Key dates for placement: For personal use only Company enters trading halt (prior to market open) 9:00am, Wednesday 21 September Bookbuild opens 10:00am, Wednesday 21 September Bookbuild closes 12:00pm, Thursday 22…
Eagle Ford Acreage - Overview Contiguous Acreage For personal use only o Currently leased 6,000 net acres o Targeting up to 13,000 net acres o Adjacent to excellent proven productivity o Long laterals; less infrastructure Lower…
Acreage located in Dimmit County For personal use only Acreage released from offset operators due to cash constraints Major acquisition: adjacent to acreage position o Protg acquired Newfield Eagle Ford Asset directly to the…
Thickest part of entire Eagle Ford trend Dimmit County acreage has the For personal use only thickest Eagle Ford formation in the play, up to 370 feet thick 3 levels of Eagle Ford formation for development Initially 60 acre…
Light oil/condensate window For personal use only Proven oil gravities of 45 48 API Allows for optimum crude pricing DIMMIT Gas oil ratio will be 2,000 3,000 so good reservoir energy Revenue stream will be 70 80 percent…
Offset operator type curve analysis For personal use only Over 300 offsetting wells producing in area All three Eagle Ford stratigraphic levels productive Productivity consistent across levels Type curves developed from offset…
Drill plan For personal use only Austin Chalk Drilling spacing and pattern: Wells will be drilled at each Upper Eagle Ford Shale stratigraphic interval on a 500 lateral spacing Interference consideration: No evidence…
Actual offset operator drill & completion costs For personal use only Company 1 Company 2 Average well cost (USm) Average well cost (USm) 5.4 Drill costs 8.8 4.8 4.7 Completion costs 7.4 3.6 1 4.4 4.1 8,000 ft LL 3.5…
Drill plan for initial well program For personal use only Timing 2 wells to be drilled in late 4Q16 into 1Q17* Drill costs Costing estimates based on actual offset operators recent drilling performance Initial drill costs estimated…
Single well economics (RoR) Based on an 8,000 ft lateral length For personal use only Lower Eagle Lower Eagle Upper Eagle Ford B Ford A1 Ford1 EUR (MBOE)2 690 554 556 NYMEX Forward Strip 54% 46% 94% Wall Street Consensus3 61%…
Development plan Planned 8,000 foot laterals at 60 acre spacing For personal use only First two wells drilled in 4Q16 into 1Q17 Develop each of the three Eagle Ford vertical geologic intervals (Lower Eagle Ford B, Lower Eagle Ford…
Reserve based lending facility For personal use only Facility Senior secured, first lien, syndicated, revolving reserve-based credit facility to be used for exploration, development, acquisition of acreage, working capital and…
Short-term milestones For personal use only Item Milestone Expected timing Sale of Blue Ridge Completion of sale of Blue Ridge 30 60 days Proceeds of sale of Blue Ridge will be used to fund the acquisition of further acreage in the…
For personal use only Appendix 18
Continuous development economic parameters For personal use only 8,000 Lateral EUR1 Operating Expense4 EUR LEF B 690 MBOE LOS 6.00/BOE EUR LEF A 554 MBOE2 EUR UEF 556 MBOE2 Pricing Differentials4 Oil Differential (Dimmit) LLS…
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