A year of operational and value catalysts ahead January 13, 2014
The Company Independent upstream oil and gas company Publicly listed traded on the NASDAQ since 1972 (ticker MPET) Headquartered in Denver, Colorado 39 employees globally Under new management since 2011 CORE Montana UPSIDE…
The Company Market Cap(1) 47 m Proved reserves(5) 9.2 MMboe Cash(2) 27 m % Oil 80% Debt 1 m % PDP 23% Enterprise value(3) 52 m % Operated 100% Shares outstanding 45.3 m PV-10(5) proved reserves 108 m Institutional(4) 23% Net…
Proved Reserves1 EV/BOE: 6 PV-10: 108 m Proved Reserves Proved Reserves by Geography 23% 20% 9.2 9.2 MMboe MMboe 63% 14% 80% PDP PDNP PUD US Australia Oil / Gas Proved Reserves Ratio PV-10 ( m) by Geography 10.3 20%…
Poplar CO2 Enhanced Oil Recovery project in progress 22,000 net unitized acres ANALOGOUS CO2-EOR PROJECTS(1) Covers Poplar Dome, the largest geologic structure in the western Williston Basin Substantially all of the acreage…
CO2-EOR Analogs 50 MMbbls incremental reserves in line with CO2-EOR analogs Poplar is analogous to Midale and Recovery potential(1) Weyburn, two oil fields with highly successful CO2-EOR projects in the Williston Basin 53% Poplar…
CO2-EOR Development Milestones Summer Core Laboratories confirms miscibility 2012 Summer Pilot CO2 source & well permits secured 2013 Fall 5 pilot wells drilled 2013 2014 Pilot CO2 injection End of Announce pilot…
Poplar Stacked Formations Several reserve development opportunities Charles Approximately 275 bbls/day CO2-EOR: pilot project in 2013 Bakken / Three Forks / Nisku Prospective for oil production CO2 Flood Other development…
UK Unconventional Large potential from unconventional prospects 3 Core licenses Center of Weald Basin Celtique operated (50%) 2 unconventional targets Kimmeridge / Liassic 125 k net acres with unconventional prospects Acquired 175…
Australia Offshore Bonaparte Basin Large gas prospects to be farmed-out 100% working interest 2 potential prospects 1-3 Tcf potential resource 3D seismic survey results expected Winter 14 1 exploration well required by 2015…
Australian Onshore Assets Legacy assets Palm Valley and Dingo: gas fields with long-term gas supply contracts Mereenie: potential for up to A17.5 m cash bonus following sale of asset in 2012 53 Bcf proved + probable reserves…
Milestones A year of operational and value catalysts ahead Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Pilot CO2 injection, monitoring, & analysis CO2 injection Poplar CO2 begins Announce pilot results Weald Basin UK Participate…
Sources of Value Asset Value Potential Capex Cash 32 m(1) Poplar (current) P1 reserves PV-10 97 m(1,2) Ongoing work-overs US Poplar CO2 Pilot +50 MMbbls(3) 20 m(4) Poplar Three Forks / Nisku UK Weald/Wessex Basin Net…
Why Invest Now Timing Various operational milestones expected to be achieved over the next 12 months Value Several assets with large value potential Poplar could yield 50 MMbbls of incremental reserves Execution New management…
Appendices
Experienced Leadership Robin West (66) Chairman Tom Wilson (61) CEO Founder, CEO of PFC Energy Former President of KMOC and Anderman Former Reagan Administration Assistant International Secretary of the Interior (1981-83), responsible…
One Stone Convertible Preferred Allows to increase net asset value per share On May 10, 2013, Magellan issued 23.5 m of convertible preferred stock to One Stone Energy Partners, a NY based private equity fund Rationale Key…
Australia Offshore Bonaparte Basin Precedents for attracting farm-out partners The following farm-ins recently took place in exploration blocks near Magellans NT/P82 block in Bonaparte Basin: Date Company Asset Terms Origin earns…
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