THE TIME IS NOW HIGH IMPACT INTERNATIONAL EXPLORATION & PRODUCTION OCTOBER 2014
HISTORY OF STRONG RESERVES GROWTH Proved Plus Probable Working Interest Reserves Growth(1) 4 Year CAGR: MBOE 4,000 3,500 3,778 97% 3,000 2,500 Reserve growth results from the drilling and 2,000 1,698 development activities 1,500…
2014 YEAR END RESERVES(1) Highlights Include: 149% increase in NPV10 of Bengals 2P reserves value: to 101 MM Compared to 41MM at year end 2013 1P WI reserves of 1.7 MMBOE (up 122% from 2013) Equals total 2P reserves in 2013 2P…
INDUSTRY - LEADING CORPORATE OPERATING NETBACKS International Focused, Canadian Listed E&P Companies Operating Netbacks(2) Bengal produces /boe 90 Ultra-Light Oil 40.98 80 Average operating (52 API) netback of universe of 70…
COOPER BASIN OPPORTUNITY Large and premium acreage is under-explored & Large oil in place under-exploited: offers significant growth opportunity pools with limited development to date Transfer of knowledge and technology from mature…
LARGE FOOTPRINT FOR FUTURE GROWTH Australia Capital Program - 12 wells in 12 Months BARTA 9 plus (2 to 3 contingent) development / (10 wells) appraisal targeting up to 2.1 MMbbls recoverable(1) 3 exploration wells targeting 20…
BARTA PERMIT: CUISINIER (PL 303) Barta Permit equals 344,218 acres(1) PL 303 15,815 acres(1) 18 wells drilled to date all oil 2014 Phase One wells now online adding approx. 1,100 Bopd gross (339 Bopd net) 3D seismic used to…
ATTRACTIVE ECONOMICS IN CUISINIER Average Well PAYOUT: 1.3yrs 250 Producing Rate (bbl/d) 200 : 2.8X 150 RECYCLE RATIO(2) 100 50 IRR: 94% 0 0 25 50 75 100 125 150 Cumulative Production (Mbbl) 6 of 14 wells have avg.…
CUISINIER ADDING CORPORATE VALUE & GROWTH Independent Evaluation Results Cuisinier Value & Murta DC70 Pool Size Growth Gross Pool STOIP(1) Growth 212% Total Value MMBBLS MM 180 140 160 Gross Pool STOIP 4 year CAGR (2010-14)…
EXPANDING FROM CUISINIER BASE - BARTA RUNNING ROOM STRONG PROSPECT INVENTORY 4 independent structures 2013 Cuisinier North 3D 220 km2 identified on 3D for exploration drilling 1st well drilled (Koki), 2nd well (Wicho) Wicho…
CUISINIER NORTH EXPLORATION CANDIDATE TARGETING HUTTON Structure offsetting Wicho-1 Wicho East well drilled in 1987 - encountered oil shows in WICHO-1 (1987) Basal Jurassic & Hutton Structural closure offsetting Wicho-1 mapped…
ORGANIC GROWTH WOMPI (ATP 752) 20+ prospects / leads identified JARRAR COOROO 1735 MSTB 2648 MSTB One exploration well and 150+ km2 of 3D in Q4 2014 2014 location offsetting Moderate risk exploration in Bowen Field on 3D well…
TOOKOONOOKA PERMIT (ATP 732P) KENMORE 13.6 MMSTB(1) Very large permit covering 654,000 acres yet sparsely drilled only 10 wells drilled to date Potential for a new oil fairway, located in an underexplored area between two prolific…
INDIA: CAUVERY PROSPECTS 3D Seismic showing potential pool area (1) CAUVERY BASIN (1) 600 km2 of 3D shot & interpreted; 3 drill locations finalized Each location tests different play type in different part of permit (1)…
3D Seismic showing potential pool area CAUVERY ONSHORE COCHISE PROSPECT Main target is Lower Cretaceous syn-rift Andimadam sandstone sequence Productive immediately north of permit Cochise Prospect is analogous to North…
CORPORATE SNAPSHOT Financial Basic / FD Common Shares Outstanding (TSX:BNG) 64.7MM / 69.2MM Insider Holdings 24% Total Debt 9.8MM Enterprise Value 0.44/share (October 1, 2014) 38MM Q1 2015 Funds Flow from Operations (FFO) 900M…
BENGAL PRODUCTION & FUNDS FLOW GROWTH NET AVERAGE DAILY PRODUCTION VOLUMES QUARTERLY ACTUALS (BOE/D) + FUNDS FLOW (000S) Estimated volume with Phase one wells 800 3,500 Natural Gas (boe/d) 700 Crude Oil & Liquids (boe/d) Forecast…
NOW IS THE TIME. 16 to 19 well drilling program commenced CASH FLOW March 2014: largest in companys history GROWTH Numerous high-impact drilling catalysts across multiple properties offer short and longer-term CATALYST upside RICH…
ENDNOTES Slide 2 (1) Operating Netback in Australia in Fiscal Q1, 2015 of 79.98/bbl Slide 3 (1) Based on independent, qualified reserves evaluator GLJ Petroleum Consultants Ltd.s report dated March 31, 2014 entitled Reserves…
ENDNOTES Slide 10 (1) Based on independent, qualified reserves evaluator GLJ Petroleum Consultants Ltd.s report dated March 31, 2014 entitled Reserves Assessment and Evaluation of Oil and Gas Properties Corporate Summary, prepared in…
FUNDAMENTAL RESOURCE DEFINITIONS Total Petroleum Initially-In-Place (TPIIP) is that quantity of petroleum that is estimated to exist originally in naturally occurring accumulations. It includes that quantity of petroleum that is…
APPENDIX: BENGAL LEADERSHIP TEAM Management Board of Directors Chayan Chakrabarty, PhD (Pet Eng), MBA - Ian Towers, P.Eng Chairman President, CEO & Director Dolomite Energy; Former President & CEO, Rio Alto President, CEO & Director…
APPENDIX: UPDATE - 2014 YEAR END RESERVES TOTAL CORPORATE GROSS RESERVES SUMMARY (AUSTRALIA + CANADA) LIGHT AND NATURAL GAS NATURAL GAS TOTAL MEDIUM OIL LIQUIDS (Mbbl) (MMcf) (Mbbl) (MBOE) Reserves Category Proved Developed…
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