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August 2018 Enercom Conference – Elk Petroleum Limited

Elk Petroleum Limited · Aug 21, 2018 · 27 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. August 2018 Enercom Conference – Elk Petroleum Limited – slide 1
    Enercom Presentation Roadmap to 100 mmbbls and beyond ______________________________________ August 2018
  2. August 2018 Enercom Conference – Elk Petroleum Limited – slide 2
    ELK PETROLEUM LIMITED Disclaimers Important Notice and Disclaimer IMPORTANT: You are advised to read the following carefully before making any use of the information contained in this presentation. Except as required by law, no…
  3. August 2018 Enercom Conference – Elk Petroleum Limited – slide 3
    ELK PETROLEUM LIMITED Disclaimers Forward-looking statements The presentation includes certain forward-looking statements. Such forward-looking statements include statements relating to Elks strategies and plans and any indication…
  4. August 2018 Enercom Conference – Elk Petroleum Limited – slide 4
    ELK PETROLEUM LIMITED Investment Proposition Ability to deliver equity value with significant near-term upside Steady cash flow from PDP reserves Long-life, low-decline rate asset base 48 mmboe 1P reserves 70%+ oil* Approximately…
  5. August 2018 Enercom Conference – Elk Petroleum Limited – slide 5
    ELK PETROLEUM LIMITED Corporate Overview Fast Growing Elk is a fast-growing, oil-weighted oil & gas production company focused on redevelopment of Conventional Oil conventional oil fields through our core operated position in the US…
  6. August 2018 Enercom Conference – Elk Petroleum Limited – slide 6
    ELK PETROLEUM LIMITED Financial Snapshot Financial Overview BEGAN OPERATED BUSINESS MODEL & Ticker (ASX) ELK CLOSED ANETH FIELD ACQUISITION Market capitalization1 US147m Shares outstanding 1,618 million Enterprise Value US341m…
  7. August 2018 Enercom Conference – Elk Petroleum Limited – slide 7
    ELK PETROLEUM LIMITED ASX E&P Leader - Reserves & Production Not all reserves are created equal 2P Reserves (mmboe)1, 3 250 232 200 150 Over 1/3 of reserves are PDP 170 102 100 84 15 Reserves highly weighted to oil 47…
  8. August 2018 Enercom Conference – Elk Petroleum Limited – slide 8
    ELK PETROLEUM LIMITED Operator With a Highly Experienced Team Name Title Managing Director, CEO & Executive Brad Lingo Chairman-USA Jim Piccone President & CEO-USA HS Resources Alex Hunter CFO David Evans…
  9. August 2018 Enercom Conference – Elk Petroleum Limited – slide 9
    ELK PETROLEUM LIMITED Leveraged to Oil Percent oil compared to 61 U.S. Companies 120% Elks assets among the oiliest in the US 100% Production mix creates high leverage to oil prices Top Quartile ELK 80% 60%…
  10. August 2018 Enercom Conference – Elk Petroleum Limited – slide 10
    ELK PETROLEUM LIMITED Track Record of Execution - Timeline & Milestones 2015 2016 2017 2018 MAY 2016 JANUARY 2017 APRIL 2018 AUGUST 2015 Restructuring the Grieve Elk to acquire Freeport- Grieve CO2 EOR Project Brad Lingo joins…
  11. August 2018 Enercom Conference – Elk Petroleum Limited – slide 11
    ELK PETROLEUM LIMITED Delivering Significant Reserves Growth 99.6 mmboe Aneth acquisition has driven a 4-fold increase in Total Proven Reserves over last 9-months Reserve additions are - All high value liquids, low…
  12. August 2018 Enercom Conference – Elk Petroleum Limited – slide 12
    ELK PETROLEUM LIMITED Delivering Significant Organic Production Growth Total Elk Petroleum Growth (boepd) through 2024 Production supported by high quality, low 20,000 decline assets Grieve 18,000 Madden Strong base line…
  13. August 2018 Enercom Conference – Elk Petroleum Limited – slide 13
    ELK PETROLEUM LIMITED Significant Developed & Undeveloped Reserves Elks 3 Core Operating Assets are supported by extensive CO2 supplies & infrastructure, multiple operating projects and numerous opportunities for development Reserve…
  14. August 2018 Enercom Conference – Elk Petroleum Limited – slide 14
    ELK PETROLEUM LIMITED Extensive CO2 Supplies & Infrastructure 14
  15. August 2018 Enercom Conference – Elk Petroleum Limited – slide 15
    ELK PETROLEUM LIMITED Aneth Oil Field Aneth - Core Operated Asset Elk majority owned (63%) and operated 1.5 billion barrels original oil-in-place 450 mmbbls light, sweet crude produced to date 300 mmbbls remaining recoverable…
  16. August 2018 Enercom Conference – Elk Petroleum Limited – slide 16
    ELK PETROLEUM LIMITED Aneth Development Projects Organic Growth Aneth Infield Development Reserve Additions By Project 100 DCIII 90 Unconventional Tier 1 WTI Oil Price to Achieve 15% IRR (US/Bbl) CO2 Floods MCU Comp.…
  17. August 2018 Enercom Conference – Elk Petroleum Limited – slide 17
    ELK PETROLEUM LIMITED Aneth Production Growth 12,000 10,000 8,000 Net Oil Production (Bopd) 6,000 50% of Production Un-Hedged From 4,000 January 2021 2,000 Total Hedged Oil Sales of US252 million -…
  18. August 2018 Enercom Conference – Elk Petroleum Limited – slide 18
    ELK PETROLEUM LIMITED Madden Gas Field Madden - Long Life Production & CO2 Supply Elk working interest (14%) operated by ConocoPhillips (46%) 5.5 TCF original gas-in-place 2nd largest gas field in Wyoming 2.4 TCF produced to…
  19. August 2018 Enercom Conference – Elk Petroleum Limited – slide 19
    ELK PETROLEUM LIMITED Grieve Oil Field Grieve - Elks Newest Production Elk working interest (49%) with 60% economic interest Operated by Denbury Resources (51%) Project completed & field start-up commenced Elk receives 75% of…
  20. August 2018 Enercom Conference – Elk Petroleum Limited – slide 20
    ELK PETROLEUM LIMITED Grieve Oil Field Field in start-up mode / production ramping up Wells free flowing Producing over 12,000 bbls fluid per day Continuous CO2 injection of over 35 mmscf/day Seeing initial CO2 EOR response…
  21. August 2018 Enercom Conference – Elk Petroleum Limited – slide 21
    ELK PETROLEUM LIMITED EOR delivers competitive economics Average Break even Price Grieve 10.9 Aneth Expansion - Deepening 34.9 Aneth Expansion - Deepening & Monobore 35.9 Aneth Expansion - Deepening, Monobore & Infill 36.0…
  22. August 2018 Enercom Conference – Elk Petroleum Limited – slide 22
    ELK PETROLEUM LIMITED Elk Petroleum is Discounted to ASX Peers EV to 2P Reserves 14.00 12.00 10.00 8.00 Elk Petroleum trades at a discount to 6.00 Australian peers on both a reserves and production basis. 4.00 2.00 If ELK…
  23. August 2018 Enercom Conference – Elk Petroleum Limited – slide 23
    ELK PETROLEUM LIMITED The Value Disconnect Extends to the U.S. EV to 1P Reserves 35.00 30.00 25.00 US/BOE 20.00 Elk Petroleum is also undervalued 15.00 compared to U.S. peers. 10.00 5.00 If the Company received…
  24. August 2018 Enercom Conference – Elk Petroleum Limited – slide 24
    ELK PETROLEUM LIMITED Pick Your Metric Regardless of the peer group, ELK is trading as a clear discount to peers providing opportunity for investors Disconnect to Average Valuation 5.0x 4.5x 4.0x 3.5x 3.0x 2.5x 2.0x…
  25. August 2018 Enercom Conference – Elk Petroleum Limited – slide 25
    ELK PETROLEUM LIMITED 2018 Priorities Strengthen the balance sheet Actively proceeding with a comprehensive refinancing to simplify & right-size the balance sheet RBC Capital engaged to advise through debt refinancing process expect…
  26. August 2018 Enercom Conference – Elk Petroleum Limited – slide 26
    ELK PETROLEUM LIMITED Organic Growth - Roadmap to 100 mmbbls & Beyond Elk decides the pace of development and which projects take priority with the possibility Controlled to increase production from 10,000 BOEPD to 18,000 BOEPD.…
  27. August 2018 Enercom Conference – Elk Petroleum Limited – slide 27
    Elk Petroleum Limited Exchange House Level 1, Suite 101 10 Bridge Street Sydney NSW AUSTRALIA

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