RAAM GLOBAL ENERGY COMPANY Shareholder Presentation May 21st, 2014
Confidential Agenda I. Damaging Events in 2013 1. Financial Statement Restatements 2. Lawsuit Century vs United States Government (Ewing Bank 920) Ewing Bank 920 Write Off 3. Collapse of the Texas Yegua Reservoir II. Reduction…
Confidential Damaging Events in 2013 4
Confidential Financial Restatement On May 20, 2013, the Company disclosed that it would restate its consolidated financial statements for certain periods. The restated Financial Statements were filed on July 24, 2013. The…
Confidential Lawsuit against the United States Government Ewing Bank 920 On January 25, 2011, the Company filed suit against the United States Government in United States Court of Federal Claims in Washington D.C. claiming a…
Confidential Write off of: Ewing Bank 920 Proved Undeveloped Asset On August 21, 2013, the Bureau of Ocean Energy Management (BOEM) sent a response to the Companys resubmitted plan of exploration indicating that the BOEM…
Write off of: Confidential Ewing Bank 920 Proved Undeveloped Asset - Continued Proved undeveloped reserves related to the Ewing Bank 920 Project were estimated at 8.4 million barrels of oil equivalent at December 31, 2012, or…
Confidential Collapse of the Texas Yegua Reservoir Flipper Reservoir Production Monthly Gas Oil BOEPD Net MMCFD BBLs Revenue December 2012 9,607 359 1,960 2,023,900 In May 2013 the Company determined that the Flipper…
Confidential Collapse of the Texas Yegua Reservoir - Continued Revenues net to the Company were reduced from 38 million in 2012 to 11 million in 2013. A reduction in Revenues of 27 million. Workover Drilling Total Cost Cost…
Confidential Collapse of the Texas Yegua Reservoir - Continued In April 2014 the Flipper Reservoir was producing: Gas Oil BOPED Net MMCFD BBLs Revenue Production April 2014 4,347 131 454 895,149 The Flipper 7 well is…
Confidential Reduction of Shareholders Equity 12
Confidential Reduction in Shareholders Equity The 3 events we have just discussed: 1. Financial Restatement 2. Ewing Bank 920 Write Off 3. Flipper Reservoir Collapse Have resulted in a dramatic reduction in Shareholders…
Confidential 2013 Activity 14
Confidential 2013 Activity 2013 Activity Gulf of Mexico: - Drilled one new producing well - Performed two workovers Onshore Texas: - Drilled new wells in the Texas Yegua Trend & performed workovers to re-establish…
Confidential 2013 Divestitures The Company sold 40,000 acres of its Mississippi Lime and Chat acreage in Osage and Kay Counties, Oklahoma to the current operator during the 4th quarter 2012 and collected the proceeds of 10 million…
Confidential Core Areas Alberta Bakken/Exshaw Bakken/ Three Forks Niobrara- Mowry Antrim Shale Oil Resource Marcellus Play 1 Niobrara Utica Shale California Mississippian Tonkawa Fayetteville Granite Wash…
Confidential Strategy 18
Confidential Strategy and Priorities for 2014 Farmout of Breton Sound Prospects - (Offshore Gulf of Mexico): 1. Corvus North Drill and Complete 2. Virgo North Drill and Complete 3. Europa Drill and Complete 4. Sagittarius Drill…
Confidential Strategy and Priorities for 2014 - Continued California Stevens Prospect (Onshore): 1. Sec 28 well Drill and Complete 2. Sec 35 well Drill and Complete JV Partner for Offshore Wells (Offshore Federal & State…
Confidential Prospects available to be drilled in 2014 - 2015 Estimated Estimated Name Spud Production Virgo Deep June December Phineas 2 WO July August Flipper 7 July September Phineas 4 August October Stevens 1 August November…
Confidential Capital Expenditures, P&A Budget 22
Confidential 2014 Capital Expenditures, P&A Budget (as of 1st quarter 2014) Category 2014 (Millions) Projected 1st quarter Capex (already expended) 18 Geological, Geophysical, and Leasing 13 Louisiana State Waters - Drilling &…
Confidential Financial Information 24
Confidential Financial Information - (Selected Financial Data) For the Years ending December 31, 2011 & 2012 & 2013 2011 2012 2013 Average Daily Production (BOEPD) 10,927 11,399 9,210 Year End Proved Reserves (MBOE) 23.5 25…
Confidential Financial Information - (Adjusted EBITDA) For the Years ending December 31, 2011 & 2012 & 2013 2011 2012 2013 Net Income (Loss) (Millions) 24 (4) (241) Total (gains) losses on derivatives, net, less cash (5) 10 4…
Confidential Financial Information - (Production & Prices) For the Years ending December 31, 2011 & 2012 & 2013 2011 2012 2013 Net Production Volumes Oil (Bbl) 1,050,092 1,103,653 884,944 Natural Gas (Boe) 2,938,407 3,068,547…
Confidential Financial Information - (Cost and Expenses per BOE) For the Years ending December 31, 2011 & 2012 & 2013 2011 2012 2013 Cost & Expenses per BOE Lease Operating Expenses 8.61 8.52 10.41 Workover Expenses 1.94 .66…
Confidential Reserves, Revenue, and Production Charts 29
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