HIGH IMPACT INTERNATIONAL EXPLORATION & PRODUCTION JANUARY 2014
INVESTMENT HIGHLIGHTS Material production and cash flow growth potential High-quality light oil through near-term development / appraisal & gas assets in low- risk, stable countries: Large acreage positions; inventory of Australia &…
CORPORATE PROFILE Financial TSX Ticker TSX: BNG Common Shares Outstanding Basic 64.3MM Q2 Fiscal 2014 Production up -Fully Diluted (FD) 69.8MM Insider Holdings (FD) 24.5% Net Debt Market Cap ( 0.50 / share) 8MM 32MM 46%…
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…
DEFINED BUSINESS STRATEGY Capture near term value through low risk inventory of development DEVELOP drilling in proven petroleum systems Leverage experience and core competencies to further de-risk at the APPRAISE prospect…
RECENT HIGHLIGHTS Successful Cuisinier drilling program of 6 wells Transitioned from yielded 100% success rate pure exploration to production plus exploration Advanced commissioning of Cuisinier to Cook Pipeline, (finalized June…
ASSET OVERVIEW Assets in proven, producing basins Large and under-explored acreage offers significant growth opportunity 2.2 MM acres total High potential impact without typical international risk Cooper Basin;…
COOPER BASIN HIGHLIGHTS Cooper Most prolific onshore basin in Australia Basin Under explored & under exploited: creates opportunity Transfer knowledge and technology from mature basins to enhance recovery & success factors…
QUEENSLAND ASSETS SITUATED IN OIL PRONE FLANKS SOUTH NEW AUSTRALIA SOUTH WEST FLANK IS PROVEN WALES EXPLORATION AREA Partner, Beach Energy targeting CUISINIER 10,000 boe/d of net production in CARACAL West Flank* WEST…
QUEENSLAND BENGALS COOPER BASIN OPERATIONS SOUTH NEW BARTA BLOCK (ATP 752) : AUSTRALIA SOUTH WALES 360,000 acres Cuisinier (PL303): Light oil (52 API) production BARTA BARROLKA Cuisinier North / Barta West: Prospective…
BARTA PERMIT: CUISINIER (PL 303) Current assumed 2013 PROGRAM SET THE STAGE limit of oil pool FOR MORE AGGRESSIVE DEVELOPMENT PROGRAM IN 2014 Partnered with experienced area operator 14 wells drilled to date; 100% success CUISINIER…
CUISINIER PLAY FAIRWAY CALENDAR 2014 PRELIMINARY APPRAISAL PLAN Murta Depth Structure Preliminary capex budget for fiscal 2014 in Cuisinier - AUD11.3 MM to drill an anticipated 9 wells Eight development & appraisal wells planned…
KENMORE TOOKOONOOKA PERMIT (ATP 732P) 13.6MMBbls(1) CARACAL DISCOVERY SUPPORTS IPUNDU 4.3MMBbls(2) ONGOING EXPLORATION Amidst some of onshore Australias largest producing fields First well, Caracal 1, cased as future light oil…
TOOKOONOOKA (ATP 732) BEACH JV: TANGALOOMA-1 - FIRST WELL DRILLED Risk Mitigation Steps Primary target for Tangalooma-1 was a Hutton Migration - Establish oil structure crest; Wyandra was a secondary migration into the block target…
TOOKOONOOKA (ATP 732): GO FORWARD PLANS Northern Part of Tookoonooka Joint Venture with Beach Energy allows Bengal to preserve capital during farm- Tintaburra/Toobunyah 3074 MSTB (1) in phase Drilling locations to be confirmed…
INDIA OVERVIEW & CAUVERY BASIN BENGALS ONSHORE BLOCK 946 km 2 INDIA 30% working interest Light oil prone (35 - 52 API) 600 km2 3D completed Bengals Near term, high impact drilling 1st of 3 wells Onshore Block planned in 1H…
CAUVERY ONSHORE: PROSPECTS 3D Seismic showing potential pool area 600 Km2 of 3D shot & interpreted; (1) 3 drill locations finalized Each tests different play type in different (1) part of permit All targets located in a Cretaceous…
3D Seismic showing potential pool area CAUVERY ONSHORE COCHISE PROSPECT Primary target is Lower Cretaceous Andimadam Formation, secondary is Bhuvanagiri Formation Productive immediately north of permit Cochise Prospect is…
BUILDING THE VALUE CHAIN EXPLORE Cuisinier Current cash flow, near and longer term drilling proven oil potential across a broad area, represents resource play potential Tookoonooka Prospective with substantial partner, exploration…
RESERVES GROWTH ANNUAL PROVED PLUS PROBABLE RESERVES (MBOE) BENGAL NET RESERVES(1) AS AT YEAR END MARCH 31 194% growth year over year(1) 1,698 mboe 1,698 9% 7,465 growth year over year mboe 585 637 2011 2012 2013 Proved…
BENGAL PRODUCTION GROWTH NET AVERAGE DAILY PRODUCTION VOLUMES QUARTERLY ACTUALS (BOE/D) Natural Gas (boe/d) Production growth directly linked to Cuisinier drilling 518 Crude Oil & Liquids (boe/d) 33 356 325 40 38 203…
VALUE CREATION FOR SHAREHOLDERS PRODUCTION PER SHARE GROWTH (NET) Average daily production (boe/d) per million basic shares outstanding 8.1 (not debt adjusted) 6.2 5.8 3.9 1.2 30-Sep-12 31-Dec-12 31-Mar-13 30-Jun-13…
STRONG CASH FLOW DRIVERS OPERATING NETBACKS FOR TSX/TSXV LISTED INTERNATIONAL PRODUCERS (C/BOE) 90 77.87 Cuisinier operating netback as 80.67 reported in Q2 fiscal 2014 80 77.23 73.30 72.51 70 63.09 59.58 58.90 60 57.88…
WHY BENGAL Material production, cash flow & reserves CASH FLOW growth potential GROWTH Large acreage positions; sizeable inventory of low risk drilling underpins organic growth EXPANDING Very strong cash flow drivers: high netbacks…
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…
CAUTIONARY STATEMENTS Analogous Information: Certain noted drilling, completion, production, reserve and resource data provided in this document may constitute analogous information under applicable securities legislation, such as…
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