ANNUAL GENERAL MEETING 31 May 2012 EMPIRE ENERGY GROUP LIMITED www.empireenergygroup.net 1
Regions of Operation Empire Energy Group Limited (EEG) Williston Basin, Group Head Office - Sydney, NSW Mississippian US Headquarters Canonsburg, PA Central Kansas Uplift 17,000 gross acres Arbuckle/Lansing KC Oil 18,000 gross…
EMPIRE ENERGY REPRESENTS A FREE OPTION ON: THREE MAJOR UNCONVENTIAL SHALE PLAYS 3
Snapshot Conventional E & P Operations 1,540 Boe/d (40% oil) Field EBITDAX (2012) = 18.5 million EBITDAX (2012) = 16+ million 2P = 15.8 mmBoe Long life, slow decline oil and gas production Strategic hedging of cash flow risk…
Key Objectives & Growth Targets: 1P acquisitions up to US150 million (with 2&3P opportunities) Continuous PUD drilling programs with existing assets JV/Farm-in arrangements in existing regions of operation Milestone: US listing…
Value Pipeline Australia, NT Appalachia, US Appalachia (gas), US Mid-Con (oil), US Shale oil/gas Shale oil +70mmbbls Multi Bbl/Tcf targets Gas +5Tcf (GIP) Drill bit, Farm-in & Acquisitions Exploration Development Production +150…
Unconventional McArthur Basin Held by Imperial Oil & Gas (100% subsidiary) 95%-100% Working Interest Large scale shale oil & gas exploration play 14.6mm acres (59,000km2) Target - the carbonaceous (organic rich) black oil & gas…
McArthur Basin - Program Tamboran Resources Cow Lagoon 1 GRNT-79-09 Falcon Armour Oil & Gas Energy Paltar Petroleum 8
Unconventional Marcellus Shale Oil/wet gas transition zone 220,000 gross ac Leases under staged renewal 90,000 ac held by production Oil Resource P50*= 70.3 MMBbls 2-5 Mbbs/5ac-ft 3% recovery factor Based on 100,000 ac Gas…
Unconventional Utica Shale Oil/wet gas/dry gas transition zone Utica higher carbonate/less clay than Marcellus (similar to Eagleford) 180,000 gross ac Leases under staged renewal Oil/Condensates To be tested in western…
The PDP Model Current Targets: Conventional Oil and Ngls Defined, slow decline assets Operations within existing regions Development opportunities Acquisition metrics:…