For personal use only Investor Presentation Euroz Securities Institutional Conference March 2013
Red Fork Focused 10 900 gross EUR For personal use only Acreage Development well locations 245mboe Areas Proven oil play Statistical Drilled 26 wells 77% liquids 75,000 net acres development 11 wells currently NPV(10) per well…
Corporate Overview Capital Structure One-year Share Price Performance For personal use only Shares on issue 384.9 mm 1.30 1.20 Unlisted options & Perf. Rights 1 16.0 mm 1.10 Share price2 (A) 0.71 1.00 0.90 Market cap (Amm)…
Mississippian Reserves Mid-Year Review 3P reserves increase by 49% in For personal use only just six months Assumed average liquids content of around 77% on 3P basis consistent with actual results to date 80% existing acreage…
Mississippian Play Overview A premier oil resource play contending Mississippian For personal use only with the best of the onshore plays EUR 200 to 500Mboe Vast resource potential covering in excess of 17mm acres Oil Cut % 35% to…
Mississippian East of the Nemaha Ridge Emerging as the For personal use only preferred part of the play Lower GORs (+70% oil) East of the ridge Uplift provides favorable structural setting (natural fracturing) Very well…
Horizontal Mississippian Well Starts 180 For personal use only East Side East EAST COUNTIES 160 West Kay 2009 4 Noble 140 2010 16 Payne 2011 56 Pawnee 120 2012 264 Logan Garfield (Eastern most) Number of Well Starts 100…
Oil Sales by Time East of the Nemaha Ridge 12000 For personal use only Oil Sales (bopd) November 2012 Well Count 9900 bopd 10000 8000 Oil Sales (bopd) 6000 4000 January 2009 2000 37 bopd 0…
Notable IPs East of the Nemaha Ridge 260 horizontal wells For personal use only drilled east of the ridge Map highlights wells with IPs greater than 150 Boe/day Red Fork results outstanding with seven of the best 24 wells…
Contiguous Acreage in Very Active Counties Acreage leased for drilling locations For personal use only Focused in counties where 90% of the historical vertical producers were classified as oil wells Targeted specific (640 acre)…
Compelling Mississippian Well Economics Potential for greater than 900 Initial Type Well Metrics For personal use only gross locations in full field development (assumes 3 wells Oil EUR 195Mbbl (100% oil) per 640 acre unit) Gas EUR…
Red Forks Mississippian Operations Demonstrated operating capability For personal use only through strong initial production results 26 horizontal Mississippian wells across seven development areas at various stages from drilling…
Activity Increasing across Development Areas Development Area Acreage selection and 1 2 3 4 5 6 7 8 9 10 Total Producing 2 9 1 12 For personal use only targeted leasing Stimulating / Testing 2 3 5 Awaiting Stimulation 3 1 1 5…
Production Profiles Typically 7 days 1,000 For personal use only from setting of the ESP to first production Peak production 100 can occur Boe per day anywhere from 30 to 60 days or later Some wells exhibit steady increase…
Optimization Underway Drilling cycle times now at 26 days spud-to-spud For personal use only Focus on reducing drilling and completion costs with move to single string casing Three rigs now capable of drilling 40 wells in 2013…
Forward Program Funded development 250 For personal use only program set to deliver material production and reserve growth 200 Assumes four rigs from mid calendar 2013 150 Opportunity to increase rig count as borrowing base…
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