ACHIEVING SIGNIFICANCE IN THE OIL & GAS INDUSTRY RBS Morgans Unconventional Conference - April 2012 EMPIRE ENERGY GROUP LIMITED www.empireenergygroup.net 1
Regions of Operation Empire Energy Group Limited (EEG) Williston Basin, Group Head Office - Sydney, NSW US Headquarters Canonsburg, PA Mississippian Central Kansas Uplift 17,000 gross acres Arbuckle/Lansing KC Oil 18,000 gross…
Operations Corporate US operations 96% owned by Empire Energy Group Limited US operations centralised in Pittsburgh, PA 150 mm Credit Facility with Macquarie Bank, drawn to 56 mm Macquarie Bank option to take up 10% capital in US…
Key Objectives Targets: 1P acquisitions up to US100 million (with 2&3P opportunities) Continuous PUD drilling programs with existing assets JV/Farm-in arrangements in existing regions of operation Milestone: US listing with +5,000…
Development Pipeline Australia, NT Appalachia, US Appalachia (gas), US Williston Basin, US Kansas (oil), US Shale oil/gas Shale oil +70mmbbls 1,640 Boe/d (36% oil) Multi Bbl/Tcf targets Gas +5Tcf (GIP) 2P: 15.8 MMBoe Farm-in &…
The PDP Model Current Targets: Conventional Oil and Ngls Defined, slow decline assets Operations within existing regions Development opportunities Acquisition metrics:…
Reserves & Operations Empire Energy operator of 99% of all assets 3P Reserves = 18.2 Reserves* PDP 9.2 mmBoe mmBoe 1P Reserves 13.6 mmBoe 2P Reserves 15.9 mmBo PDP Current Net Production (6:1 oil:gas) 1,640 Boe/d (35% Oil);…
The Shale Plays 9
The Appalachian Shale Plays 10
Marcellus Where 11
Marcellus - Empires Position 99% acreage in New York State 220,000 gross ac 90,000 ac held by production Hydrocarbon generation & presence Oil Resource P50*= 70.3 MMBbls 2-5 Mbbs/5ac-ft 3% recovery factor Based on 100,000…
Utica Where 13
Utica - Empires Position 99% acreage in New York State 180,000 gross ac Hydrocarbon generation & presence extension from recent Ohio success Oil/Condensates To be tested in western Counties Gas Resource P50* GIP = 4.6 Tcf…
Utica Points to Ponder Utica mineralogy in wells from NY, OH, and PA is similar to that from Quebec Significant natural gas flows from the Utica in Quebec from vertical wells with single stage completions Utica higher…
Early CHK Ohio Utica Wells To put into perspective to Eagleford: Buell would be considered wet gas Neider/Mangun gas condensate 16
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…
McArthur Basin- Targets Substantial drilling & core history Oil and bitumen bleeds in core Some seismic history (2D) Proven to be gas-prone. A mineral exploration well GRNT-9 (in adjacent lease) ignited and produced a 6m flare…
Empire - Corporate Snapshot Corporate Structure Key Board & Management (last slide) Aust. Securities Exchange EEG OTC-QX (New York) EEGNY Financials Shares on issue 291.5 mm EBITDAX (2012) = 16.0 MM Share Price US0.24 PV10 (2P) =…
ASX Comparables 20 20
Board & Management BOARD 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 25 years he has been involved in the…
Loading...
