Jericho Oil Enters Anadarko Basin STACK Play September 6, 2017 For discussion purposes only and does not constitute an offer to sell Past performance is not indicative of future results Actual production may not be as projected 1
STACK Joint Venture Highlights Continues partnership with Family Office Contiguous Core Position in STACK Oil Window Partner Jericho has option to earn into Joint Venture with up to 31% ownership 8,600 net Mississippian acres in…
Well Positioned Amongst Prominent Operators Key Attributes and Upside Potential Focused development on fractured Osage and Meramec targets Meramec cherty carbonate is an emerging 1 focus area for several operators (CHK, SD) Osage…
With Significant Adjoining Drilling Activities and Pooling Orders Source: IHS, Oseberg For discussion purposes only and does not constitute an offer to sell Past performance is not indicative of future results Actual production may…
Operator Activity Map Notable Well Results Legend 1 1 HOSKINS 5-1H CARRERA GORE 1H-1X CHESAPEAKE NEWFIELD IP30: 1,185 boe/d CHISHOLM IP30: 1,285 boe/d 60% oil 87% oil CHK 3 COUNCIL OAK 2 2 HOSKINS 5-2H MRO SYLVAN 1H-3…
Proximate STACK Peer Type Curves Public Osage Type Curves Public Meramec Type Curves Alta Mesa Resources Sandridge Energy IP30 (Boepd) 746 IP30 (Boepd) n/a D&C (mm) 3.2 D&C (mm) 3.3 EUR, Mboe 651 EUR, Mboe 450 % oil 54% % oil 40%+…
Valuation Benchmarking Precedent STACK Transactions Net STACK Production / Acre Date Seller Purchaser Deal Value (mm) Acres (boe/d) Headline Prod. Adjusted 8/8/2017 Continental Resources Undisclosed 73 6,590 n/a 11,002 11,002 1/16/2017…
Illustrative Jericho Oil Net Asset Value Significant Upside in STACK JV JCO Asset Value (mm) Precedent STACK Transactions Implied P / NAV: 66% Implied: CAD 0.91 Current: CAD 0.60 JCO Proved plus STACK JV Illustrative Value…
Precedent STACK Transactions Locator Map Source: IHS, Oseberg For discussion purposes only and does not constitute an offer to sell Past performance is not indicative of future results Actual production may not be as projected 10