ACHIEVING SIGNIFICANCE IN THE OIL & GAS INDUSTRY Update - March 2012 EMPIRE ENERGY GROUP LIMITED www.empireenergygroup.net 1
Current Operations Empire Energy Group Limited (EEG) Owns 96% of USA subsidiary Empire Energy USA, LLC** Group Head Office - Sydney, NSW US Headquarters Canonsburg, PA ** Funder holds warrants =10% of issued capital 3
Corporate Snapshot (as at March, 2012) Corporate Structure Key Board & Management (refer to last slide) Aust. Securities Exchange EEG Financials OTC-QX (New York) EEGNY Field EBITDDA (2012) = 17.0 MM Shares on issue 293.5 mm…
Operations Central Kansas Uplift Field operations based in Wichita, KS Operating 256 wells Commenced drilling program June 2011 FY 12 - budget includes 10 development wells and 5 polymer recompletions Well target: 30-40 Boe/d; EUR…
Key Milestones & Targets Skill base to build business to 10,000 Bbl/d by 2015 Currently seeking acquisitions up to US100 million Growth since establishment 2006 Dec 2007 Dec 2009 July 2010 Dec 2010 Initial USA entry US8.85MM…
Reserves & Operations Current Average Equiv Production (6:1 oil:gas) 1,770 Boe/d (35% Oil) 3P Reserves = 18.2 mmBoe Current Average Net Production: KS - 520 Bbl/d PA, NY 1250 Boe/d PDP Av Lifting Costs (2012) PDNP 21.70 /Bbl…
Development Pipeline Australia, NT Appalachia, US Appalachia (gas), US Williston Basin, US Kansas (oil), US Shale oil/gas Shale oil +70mmbbls 1,770 Boe/d (36% oil) Multi Bbl/Tcf targets Gas +5tcf (GIP) 2P: 15.8 MMBoe Farm-in &…
Controlled Debt Structure 140,000 1P - Existing hedges in place (75% Production) Hedging to Dec 2015 120,000 Oil 90/Bbl & Gas 5.85/mcf 100,000 80,000 60,000 000 40,000 20,000 - 2011 2012 2013 2014…
Marcellus Shale Assets The hydraulic fracturing moratorium in New York State to be lifted 2012 Marcellus Shale assets considered in be in the wet gas/oil transition zone 220,000 acres Oil Possible Resource = 70.3 MMBbls based…
Utica Shale Assets The hydraulic fracturing moratorium in New York State to be lifted 2012 Utica Shale assets considered in be in the dry gas / wet gas transition zone 180,000 acres Gas Resource P50 = 5 Tcf GIP (based on…
Major Australian Shale Basins 12
McArthur Basin-Shale Held by Imperial Oil & Gas (100% owned subsidiary) 14.6mm acres in the MacArthur & Georgina Basins, NT Large scale shale oil & gas exploration play Low historic exploration maturity Target - organic rich black…
ASX Comparables 35.00 Cue Energy 30.00 25.00 Otto Senex EV/2P Reserves (US/boe) 20.00 Cooper Energy Horizon 15.00 Roc Antares 10.00 Amadeus Tap Nido 5.00 NZ Oil and Gas Empire Energy Group 14 Carnarvon 0.00 0 5 10 15…
SWOT Analysis Strengths Recent oil acquisition balances production Opportunities Long life, slow decline oil & gas production Accretive acquisitions in Appalachia & Kansas Production from 1800 gas & 256 oil wells Marcellus & Utica…
Board & Management Bruce W McLeod - Executive Chairman & CEO, B.Sc (Maths), M.Com (Econ) - extensive experience in the Australian Corporate and Resource Capital markets. Over the past 20 years he has been involved in the acquisition…
Loading...
