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A year of operational and value catalysts – Magellan Petroleum Corp

Magellan Petroleum Corp · Aug 31, 2014 · 20 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. A year of operational and value catalysts – Magellan Petroleum Corp – slide 1
    A year of operational and value catalysts NASDAQ : MPET August 2014
  2. A year of operational and value catalysts – Magellan Petroleum Corp – slide 2
    The Company Independent upstream oil and gas company Founded in 1959 and traded on NASDAQ since 1972 Under new management since 2011 Headquartered in Denver, Colorado CORE Montana UPSIDE UK NON CORE Australia Oil…
  3. A year of operational and value catalysts – Magellan Petroleum Corp – slide 3
    Onshore Australia Sale Sale of Palm Valley and Dingo completed Mar 31, 2014 Key terms Rationale Palm Valley and Dingo, Amadeus Basin gas Fund Poplar and UK with cash proceeds fields, sold Avoid cash outlay for Dingo development…
  4. A year of operational and value catalysts – Magellan Petroleum Corp – slide 4
    The Company Market cap(1) 96 m Proved Reserves by Category(4) Cash and liquid investments(2) 36 m Debt 0 m 15% ARO 3 m 7% Preferred equity 25 m 7.4 PDP MMboe PDNP Enterprise value(3) 87 m PUD 78% Proved reserves(4) 7.4 Mmboe…
  5. A year of operational and value catalysts – Magellan Petroleum Corp – slide 5
    Poplar CO2-enhanced oil recovery project in progress 22,000 net unitized acres ANALOGOUS CO2-EOR PROJECTS(1) Covers Poplar Dome, the largest geologic structure in the western Williston Basin Substantially all of the acreage held…
  6. A year of operational and value catalysts – Magellan Petroleum Corp – slide 6
    Poplar CO2-EOR Analogs 50 MMbbls incremental potential reserves at Poplar Poplar is analogous to Midale and Weyburn, Recovery potential(1) two oil fields with highly successful CO2-EOR projects in the Williston Basin Poplar…
  7. A year of operational and value catalysts – Magellan Petroleum Corp – slide 7
    Poplar CO2-EOR Milestones Summer 2012 Core Laboratories confirms miscibility Summer 2013 Pilot CO2 source & well permits secured Fall 2013 5 pilot wells drilled 2014 Pilot CO2 injection End of Announce pilot results…
  8. A year of operational and value catalysts – Magellan Petroleum Corp – slide 8
    Poplar Stacked Formations Several reserve development opportunities Charles Current production: approx. 275 bopd gross CO2-EOR: pilot project ongoing Bakken / Three Forks / Nisku CO2 Flood Prospective for oil production…
  9. A year of operational and value catalysts – Magellan Petroleum Corp – slide 9
    UK Acreage Significant upside potential Two value creation opportunities: Developing unconventional play in PEDLs 231, 234, and 243 Peripheral targets on edge of Weald Basin Magellan strategy: Fund our share of initial…
  10. A year of operational and value catalysts – Magellan Petroleum Corp – slide 10
    UK Unconventional 125 k net acres in center of Weald Basin Our acreage Weald Basin PEDLs 231, 234, and 243 Focus on unconventional prospects Kimmeridge and Liassic formations 50% interest; operated by Celtique Energie Primarily oil…
  11. A year of operational and value catalysts – Magellan Petroleum Corp – slide 11
    UK Peripheral Target Farmout of Horse-Hill prospect executed Farm-out of PEDLs 137 and 246 to Angus Energy in Dec 2013 Magellan carried 100% for first well in exchange for 65% interest to Angus Subsequent investments in…
  12. A year of operational and value catalysts – Magellan Petroleum Corp – slide 12
    Australia Offshore Bonaparte Basin Large gas prospects to be farmed-out 100% working interest 3D seismic completed 1-3 Tcf potential resource 1 exploration well required by May 2016 Shallow water jack-up rig territory…
  13. A year of operational and value catalysts – Magellan Petroleum Corp – slide 13
    Milestones A year of operational and value catalysts Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Pilot CO2 injection, monitoring, & analysis CO2 injection Poplar CO2-EOR begins Announce pilot results Weald Basin UK Participate…
  14. A year of operational and value catalysts – Magellan Petroleum Corp – slide 14
    Alignment of Incentives New management incentive Option vesting criteria plan implemented Oct 2013 Vesting criteria tied to: Ability to participate in Farm-out of NT/P82 5% share price performance first well in achieving the…
  15. A year of operational and value catalysts – Magellan Petroleum Corp – slide 15
    Illustrative NAV Value Potential value 520 8.00 455 7.00 30 4 0 394 390 5 6.00 124 Implied / share (1) 325 5.00 Value ( m) 260 150 4.00 195 3.00 130 2.00 49 Current market cap / share price (1) 65 12 1.00 21 -…
  16. A year of operational and value catalysts – Magellan Petroleum Corp – slide 16
    Why Invest Now Timing Various operational milestones expected to be achieved over the next 12 months Value Poplar could yield 50 MMbbls of incremental potential reserves Large option value in the UK Execution New management…
  17. A year of operational and value catalysts – Magellan Petroleum Corp – slide 17
    UK Unconventional Farm-outs Recent transactions show increased interest in the potential development of UK shale basins Most recent transaction involving Total marks entry of the first Major into the UK shale play Recent…
  18. A year of operational and value catalysts – Magellan Petroleum Corp – slide 18
    Australia Offshore Bonaparte Basin Precedents for attracting farm-out partners The following farm-ins occurred in exploration blocks near Magellans NT/P82 block in the Bonaparte Basin: Date Company Asset Terms Origin earns 50% WI…
  19. A year of operational and value catalysts – Magellan Petroleum Corp – slide 19
    Experienced Leadership Robin West (66) Chairman Tom Wilson (61) CEO Founder of PFC Energy Former President of KMOC and Anderman Former Reagan Administration Assistant International Secretary of the Interior (1981-83), responsible…
  20. A year of operational and value catalysts – Magellan Petroleum Corp – slide 20
    One Stone Convertible Preferred Allows for increase in net asset value per share On May 17, 2013, Magellan issued 19.2 m shares of convertible preferred stock to One Stone Energy Partners, a NY based private equity fund for 23.5 m…

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