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Annual Shareholder's Meeting – Bpz Resources, Inc.

Bpz Resources, Inc. · Jun 20, 2014 · 32 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. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 1
    ANNUAL SHAREHOLDERS MEETING Houston, Texas June 20, 2014
  2. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 2
    Jim Taylor, Chairman of the Board Opening Remarks Manolo Ziga, President & CEO Operations Update 3
  3. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 3
    BPZ Energy Four Blocks in Northwest Peru and one in Southwest Ecuador Multiple Plays with Multiple Existing Offshore 3-D Seismic Prospects in Each Play Existing Onshore 3-D Seismic BLOCK XIX BPZ (51%) and Pacific Rubiales…
  4. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 4
    Vision and Mission The BPZ Team will be recognized for excellence in exploring, developing and producing oil and gas in Peru and the Americas. We will: deliver profitable growth. become a preferred partner of government and…
  5. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 5
    Key Numbers Share Price: (1) 3.30 52-Week Range: (1) 1.58 - 3.40 Shares Outstanding: (2) 119 million Market Capitalization: (1) 393 million Total Enterprise Value: (1) 577 million Proved Oil Reserves: (3) 16 million barrels PV-10…
  6. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 6
    Key Focus Grow Continue Z-1 Development Drilling OPERATIONS Appraise Delfin Production Continue Onshore Exploration Grow Cash Flow Improve Cost Structure FINANCE Capital Discipline Grow Manage Cash Reserves 7
  7. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 7
    Production Growth and Cost Reduction Underway BLOCK Z-1: Historical Average Quarterly Gross Production BOPD 8,000 7,000 6,000 5,000 4,000 7 New Wells Plan to be 3,000 Completed by Year-end 2,000 2014 1,000 - 1Q08 2Q08…
  8. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 8
    Block Z-1 Increase Capture upside oil Appraise prior Explore prospects production at and gas potential at discoveries in in < than 350 ft. of Corvina and Corvina and Delfin, Piedra water starting with Albacora Albacora Redonda, and…
  9. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 9
    Capturing Corvinas Upside CX15-5D well currently being drilled Five wells have surpassed 1 Mmbo Four more wells planned in 2014 1,500 acres, with 15 more gross PUDs Structure Map at Top of Zorritos Unconformity CX-11 7D 2D 1D…
  10. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 10
    Albacora Development A-26D well currently being completed A-14XD well has exceeded 1 Mmbo One more well to follow (possibly two) Area under development is 400 acres Albacora, Top MidZorritos / Structural Map PLATFORM 11
  11. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 11
    Six Wells at 1 Mmbls+ of Oil Produced CORVINA FIELD: CUMULATIVE GROSS PRODUCTION RATES as of May 31, 2014 WELL 1st. Month Latest Month OILCUM GASCUM Number PRODUCED PRODUCED (MBO) (MMSCF) CX11-14D 11/30/07 04/30/14 225.1 191.1…
  12. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 12
    Albacora Lower Zorritos Structure Map Area under development 13
  13. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 13
    Planning to Drill Delfin Next Year Drilling permit already in hand Prospective area is 3,000 acres Tennecos 39-X-1 well tested oil Delfin platform to be 4 miles from CX-15 CX11 OIL AREA Corvina CX15 39-X-1 OIL AREA B-17-X…
  14. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 14
    Raya, also Targeting Oil from Zorritos Fm. Potential size of 7,500 acres Also in less than 300 ft. of water Drilling permit already in hand 10 miles from Corvina CX-15 platform 15
  15. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 15
    Piedra Redonda Anchors the Mancora Gas Play Belco discovered dry gas with C-18-X well Piedra Redonda prospect is 11,000 acres Near coastline in 200 ft. of water Drilling permit already in hand PACIFIC OCEAN EC P -1X PEC-1X Block…
  16. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 16
    Onshore Block XXIII Caracol 1X Well Site Three exploration wells already Cardo 2X Well Site drilled: Caracol 1X, Cardo 2X and Piedra Candela 3X. Caracol 1X tested gas on an initial test. Workover Rig at Piedra Candela 3X Piedra…
  17. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 17
    Block XXII: Multiple Plays in 1 Million Acres Pursuing Cretaceous age conventional Muerto Formation is a brittle shale, rich and unconventional plays in total organic content Thick section of Muerto Formation source Adjacent operator…
  18. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 18
    Rick Menniti, Chief Financial Officer Finance Update 19
  19. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 19
    Progress and Plan Improve Cost Structure Year-on-year reduction in G&A from 2011 to 2013 Continue managing G&A Further reduction of unit LOE Capital Discipline Ensure robust economics Spending within cash constraints Remaining…
  20. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 20
    Year Over Year Quarterly Comparison US 000's, unless noted 1Q 2014 1Q 2013 Variance Barrels of oil per day 2,566 1,491 + 1,075 Net realized price per barrel 98.78 103.27 - 4.49 Revenue 20,976 13,312 + 7,664 EBITDAX 9,556 21 + 9,535…
  21. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 21
    Revised 2014 Capital & Exploratory Budget Millions Offshore Block Z-1 (51% BPZ) Corvina CX-15 development drilling (6 wells) 40 Albacora drilling (4 wells plus 18D sidetrack) 36 Projects & engineering 17 Total BPZ Net Offshore 93…
  22. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 22
    Manolo Ziga, President & CEO Peru Corporate & Social Responsibility 23
  23. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 23
    Corporate & Social Responsibility The Four Pillars of Corporate & Social Responsibility Quality of Life Ethics Communities Environment In 2013 BPZ again distinguished as a Socially Responsible Company by Peru 2021 24
  24. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 24
    Partnering in Peru Vision To be a leading social organization which promotes the human rights of girls, boys and adolescents in northern Peru, with national and international recognition for excellence in community development.…
  25. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 25
    Childrens Community Library Background: Opened in December 2012. Early Education Institute No 014 San Pedro Apostol in the town of Puerto Pizarro, Tumbes. 80% of beneficiaries are children of families involved in fishing…
  26. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 26
    Peru Outlook The World Bank 4/14/14 Over the past five years, Peru has made great strides in its development. Its achievements include high growth rates, low inflation, macroeconomic stability, reduction of external debt and poverty…
  27. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 27
    Beatriz Merino President, Peruvian Hydrocarbon Society Industry Update
  28. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 28
    Manolo Ziga, President & CEO Conclusion 29
  29. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 29
    Summary Business Plan 2013-2014 2015 Offshore Block Z-1 Offshore Block Z-1 Corvina CX-15: Completing Fourth Corvina and Albacora PUDs to PDPS of Eight PUD wells and P2 to PUDs Albacora: Drilling Fourth of Five Drill and develop…
  30. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 30
    Thank You for Your Support Board of Directors Executive Officers James B. Taylor, Chairman Manolo Ziga, President & CEO Manolo Ziga Richard S. Menniti, Chief Financial Officer John J. Lendrum III J. Durkin Ledgard, Chief Legal…
  31. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 31
    Appendix GAAP Reconciliation Reconciliation of non-GAAP measure The table below represents a reconciliation of EBITDAX to the Companys net loss, which is the most directly comparable financial measure calculated in accordance with…
  32. Annual Shareholder's Meeting – Bpz Resources, Inc. – slide 32
    Appendix Other Information PeruPetro Perus Oil & Gas Investment Guide http://www.perupetro.com.pe/ http://www.perupetro.com.pe/wps/wcm/connect/9ded3c9c-e076-4452-93e7-…

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