ACHIEVING SIGNIFICANCE IN THE OIL & GAS INDUSTRY PRESENTATION EXCELLENCE IN OIL & GAS March 2013 EMPIRE ENERGY GROUP LIMITED www.empireenergygroup.net 1
Empire Energy - Overview 1. Appalachian Basin USA (97% sub1) Producing conventional gas , Significant unconventional opportunity in both the Marcellus and Utica Shale 287,300 gross acres (99% working interest) 2. Mid-Continental -…
Empire Operations & Assets 1 Conventional E&P Unconventional Shale Unconventional Shale 2 3 Operations USA Basins USA Basin Australia Production 310,000 acres Marcellus Shale 231,000 acres Barney Creek/Valkerri Shale Producing 1,380…
1 Conventional - key objectives Empires conventional E&P operations: Operator of all assets Target 5,000 boepd Incremental growth at marginal G&A cost Reduce current lifting costs (excluding taxes): Oil: 22.47 / Bbl Gas: 1.73 /…
1 Conventional Assets Steady state performance from existing assets Production growth through drilling Assume 2x Mid-Con bolt on acquisitions in 2Q and 4Q 2013 Six Monthly Cashflow 35,000 30,000 Target 25,000 20,000…
1 Conventional - Reserves Oil (Mbbls) Gas (mcf) Boe (Mbbls) Cashflow NPV at 10% Resources and reserves US US Significant and Proved Developed Producing 3,370 34,260 8,288 212,678 93,262 growing resource Proved Developed Non-…
1 Conventional - E&P operations Production - MBoe pa 600 Long life, slow decline 500 reserves 400 Kansas '000 Boe pa 300 200 New York Hedge up to 80% of production. Gas to 2018, 5.33 av 100 PA Oil to 2017, 89.07 av 0…
2 Unconventional Marcellus Shale 231,000 gross acres WI = 99% 94.5% of acreage HBP Majority leases in oil/wet gas zone Possible Reserve / Resource = +70 mmBbls recoverable Assumed 3% recovery factor Based on 100,000 acres…
2 Unconventional Utica Shale Utica higher carbonate/less clay than Marcellus (similar to Eagle Ford) 142,000 gross acres 65.6% of leases HBP Leases across all maturation zones Thickness = 200-300ft Gas Resource P50 GIP = 4.6…
3 Australian Shale Basins - Activity Majors committing to multi-phase exploration and 81MM appraisal McArthur 112MM Basin programs 150MM 210MM 152MM 152MM 107MM 349MM 12MM 90MM Phases and maximum expenditure based…
3 McArthur Basin - Unconventional 14.6 mm acres (59,000km2) Held by 100% sub., Imperial Oil & Gas Proven hydrocarbon system in Basin Conventional & Unconventional targets At least 6 target formations Barney Creek up to 900m…
3 Barney Creek & Valkerri Fms are proven oil Pipelines & gas prone source shales Existing Proposed Multiple stacked plays in both shales and Gove reservoir formations EP(A) 180 Whole Basin Opportunity with three…
3 Targets McArthur Basin Unusual thickness in target formations Marcellus McArthur Basin Parameter Basin Prospective USA NT Target Marcellus Shale Barney Creek only Area 60.5mm ac 6.5mm ac Shale Depth Up to 3,000 m Up to 3,500 m…
Empire Energy Value Proposition Appalachia (gas), Appalachia (NY) McArthur Basin (NT) Mid Con (oil) Conventional Unconventional Conventional/Unconventional Operator Operator Operator Production 1,380Boe/d Oil Poss/Res: +70mmBbls…
Corporate Snapshot Ticker ASX:EEG OTCQX:EEGNY Shares Issued 305 million (Insiders 11.4mm) Options Outstanding 13.9 million (Insiders 13.9mm) 52 week range US0.10 0.33 Current Share Price US0.16 Market Cap US48 million Debt…
Senior Management - USA Bruce McLeod Executive Chairman & CEO, Empire Energy Group - extensive experience in the Australian Corporate and Resource Capital markets. Over the past 25 years he has been involved in the acquisition and…
Management & Research - Australia Bruce McLeod Executive Chairman & CEO, Empire Energy Group - Formed Empire Energy in the USA in late 2006 and developed the companys Australian shale strategy over 2009/10. Dr John Warburton Director &…
Glossary Abbreviated terms used in this presentation have the following meaning: Term Abbreviation Barrel of oil equivalent per day Boe/d Barrel of oil per day Bbl/d Earnings represents net income (or loss) before interest expense,…
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