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RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep

Empire Energy Ep · Jul 1, 2013 · 26 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. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 1
    EMPIRE ENERGY GROUP RBS Morgans Noosa Mining & Exploration Conference July 2013
  2. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 2
    3 Overview ASX:EEG OTC-QX:EEGNY Share price and volumes over the Share Price = 0.10 past year Mkt Cap = 30m 12,000,000 0.25 Debt = 45m Cash = 4m 10,000,000 0.20 EV = 71m 8,000,000 Grp EBITDAX = 12.5m 0.15 6,000,000…
  3. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 3
    4 Who is Empire Energy Growing E&P Company Generates Consistent, Positive Cashflow Strong Management Team Significant Unconventional Potential in the USA and NT Asset Value above Current Enterprise Value Potential Value…
  4. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 4
    5 The Assets Production Development Exploration EBITDAX 2013 13.5m N/a N/a HBP acreage 275,000 acres 310,000 acres N/a Total acreage 318,000 acres 400,000 acres 14,600,000 acres Conventional & Formations Conventional…
  5. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 5
    6 US Strategy Strategy Mid Con conventional oil assets Target production conventional +5,000 boepd Acquisition Type - Accretive with no additional G&A Acquisition Payback - 5 years on 1P Targets heavy PDP with additional…
  6. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 6
    7 US Operations - Overview US Forecast full year 2013 Revenue = 25.0 million EBITDAX = 13.5 million Oil/Gas Revenue 67%/33% Production = 1,411 Boe/d 2P = 11.3 MMBoe 2P PV10 = 139 MM +2,000 wells = low production…
  7. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 7
    8 US Production & Reserves Est. Production 1H2013 = 248,000Boe 85,000 Bbl BOE production half yearly 980 MMcf 300,000 250,000 1P = 9.3 MMBoe 200,000 PDP = 8.5 MMBoe PDNP = 0.2 MMBoe 150,000 PUD = 0.6 MMBoe 100,000…
  8. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 8
    9 US 2P Economics Natural gas reserves converted under SEC guidelines of 6Mcf = 1 Bbl Net Reserves and Net Present Values Reserve Oil Gas Total Current Capex PV0 PV10 Category MMBbl MMcf MMboe Boe/d mm mm mm PDP 2,9 34,3 8,3…
  9. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 9
    10 Australia - Shale Basin Activity Majors committing to multi-phase exploration and appraisal programs 81m McArthur 80m Basin 150m 210m 152m 152m 107m 349m 12m 90m Phases and maximum expenditure based on…
  10. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 10
    11 Why the McArthur Basin Proven Petroleum Pipelines Existing System Proposed Barney Creek Fm Gove 1.64 Billion years old Up to 900m thick EP(A) 180 600 km EP(A) 181 GRNT-79-09 EP(A) 182 6m EP(A) 183 EP 184…
  11. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 11
    12 McArthur Basin Profile Leases - 14.6 million ac (59,000km2) WI=100% Northern portion totally unexplored Identified numerous conventional anticline, 4 way closed structures Conventional/Unconventional targets Barney…
  12. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 12
    13 Gas Market Northern Territory 1 LNG Northern Territory 2 Monetisation Darwin a regional gas hub Liquids Road to Darwin ConocoPhilips 4m tpa Gas Demand: Inpex/Total et el 6.8m tpa - Regional mines The current LNG plants: -…
  13. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 13
    14 A Clear Strategy 3 distinct exploration corridors Pipelines Existing Geological Proposed Define resource density Gove Leverage infrastructure & customer EP(A) 180 Rigorous technical focus NORTHERN Program with Adelaide Univ…
  14. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 14
    15 Basin Farm-In Comparables The BOOM in Australian Shale Activity Incoming JV / farm out Basin Date Amount Net Acreage US / Acre Mitsubishi / Buru Energy Canning Jun 2010 A102m 9,200,000 11 CNOOC / Exoma Galilee Dec 2010 A50m…
  15. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 15
    16 Traditional Owner Negotiations Arnhem Land - Heart of Aboriginal Culture Total indigenous population 10,000 47,952km2 Aboriginal Land (80%) with negotiations progressing Agreement signed on 14th June 2013 for 11,220km2…
  16. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 16
    17 Unconventional: Marcellus Shale NY/PA 224,000 gross acres WI = 99% 89% of acreage HBP Minimal holding costs Majority leases in oil/wet gas zone Possible Reserves +77 MMBbls recoverable Assumed 3% recovery factor Based…
  17. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 17
    18 Unconventional: Utica Shale - NY/PA Utica higher carbonate/less clay than Marcellus 198,000 gross acres 50% of leases HBP Minimal holding costs Leases across all maturation zones Thickness = 200-300ft Gas Resource P50…
  18. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 18
    19 Cash Flow 6 monthly Empire Energy operator of 99% of assets Drilling program to ensure IDCs reduce taxable income Description Jun 2010 Dec 2010 Jun 2011 Dec 2011 Jun 2012 Dec 2012 J un 2013(1) Net Production: Oil Production - Bbls…
  19. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 19
    20 Valuing Empire Appalachia (gas), Kansas (oil) Conventional Current production, further development drilling, further Appalachia (NY) acquisitions Unconventional Shale oil 70mmbbls+ McArthur Basin Production Shale gas 5tcf+…
  20. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 20
    21 Organisation Structure Chairman/CEO Bruce McLeod USA USA Australia Fin Controller COO Bob Gustafson Al Boyer McArthur Basin Mid Con - VP Appalachia - VP Mgt/Exploration 1 Tim Hull Rob Kramer Geo/Operations 1…
  21. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 21
    22 Key Personnel - USA Bruce W McLeod , Chairman/CEO 1982 - B.Sc, B.Com, M.Com (Econ), University of Auckland. 2006 Present - Empire Energy Group Limited responsible for operations in Australia and USA. 1988 2005 extensive experience…
  22. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 22
    23 Key Personnel (cont.) Anthony Crisafio, Consulting CFO 2006 to Present - serves as an independent financial consultant, providing financial oversight to the Company. Director of PDC Energy Inc, an oil and gas company with…
  23. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 23
    24 Key Personnel (cont.) Robert J Kramar, VP Mid-Continent Region 2002 B.Sc Industrial Engineering, Kansas State University 2011 Present responsible for Mid-Con operations, including prospects, workovers, well design, stimulation…
  24. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 24
    26 Key Personnel (cont.) Jim Womble, Consulting Geophysicist 1982 - B.S. Geology, minor in Mathematics cum laude, University of Alabama 1990 M.S. Degree in Geophysics from the University of Houston, and Computer Science, Florida…
  25. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 25
    27 Key Personnel - Australia Dr John Warburton Director & CEO Imperial Oil & Gas Pty Ltd - 27 years of technical and leadership experience in International Petroleum E&P including 11 years with BP and 4 years as General Manager…
  26. RBS Morgans Noosa Mining & Exploration Conference – Empire Energy Ep – slide 26
    28 Contact Details Australia United States of America Empire Energy Group Limited Empire Energy USA, LLC Level 7, 151 Macquarie Street 380 Southpointe Blvd, Suite 130 Sydney, NSW 2000 Canonsburg, PA 15317 Attention: Bruce McLeod…

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