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Corporate Presentation – Oando Energy Resources Inc.

Oando Energy Resources Inc. · Mar 10, 2015 · 36 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. Corporate Presentation – Oando Energy Resources Inc. – slide 1
    Energy Resources Inc. CORPORATE PRESENTATION March 2015
  2. Corporate Presentation – Oando Energy Resources Inc. – slide 2
    Capital Market Overview OER Share Structure Market Capitalization Net Debt Enterprise Value 1.06 2.29/0.75 8,506,666 344,673,441 733 M 615 M 1,348 M Information as at 09 March 2015 3
  3. Corporate Presentation – Oando Energy Resources Inc. – slide 3
    Historical Context OER Formation of the largest indigenous oil and gas producer in Nigeria Ebendo production ramp up 4
  4. Corporate Presentation – Oando Energy Resources Inc. – slide 4
    Asset Portfolio OER NIGERIA Asset W.I. Operator OML 125 OML 60 20% AGIP OML 56 - Ebendo Field O OML 61 20% AGIP OPL 321 & 323 M OML 60 OML 90 - Akepo Field L OML 62 20% AGIP 62 CAMEROON OML 61 OML 13 - Qua Ibo Field OML 134…
  5. Corporate Presentation – Oando Energy Resources Inc. – slide 5
    Production, Reserves & Resources OER OML 13 1% NGL Production by Product (boepd) OML 56 OML 125 7% 5% 5% OML 63 Production by OML 6% OML 60 OML 62 16% 1% 53,256 boepd 53,256 boepd Oil & Condensate 40% OML 61…
  6. Corporate Presentation – Oando Energy Resources Inc. – slide 6
    Capital Structure OER Senior Structured Facility LIBOR + 5% RBL Facility LIBOR 1 Year Tenor + 8.5% Market Capitalisation Public 5.5 Year Tenor 6.2% (49.3m shares) 733 615 Debt US MM US MM Oando PLC Senior…
  7. Corporate Presentation – Oando Energy Resources Inc. – slide 7
    Peer Valuation OER Enterprise Value / 2P+2C (US/boe) Market Capitalization / 2P (US/boe) 45 45 40 40 35 35 30 30 25 25 20 20 9.94 15 15 13.31 9.66 10 4.81 10 3.33 2.07 4.08 5.01 3.59 3.69 5 1.73 1.86 5 3.17 0.54 0 0…
  8. Corporate Presentation – Oando Energy Resources Inc. – slide 8
    Key Metrics & Comparables OER COMPANY Afren Seplat Eland O&G Heritage Oil Mart Tullow Average OER Avg. Daily Prod. (bopd; net) 33,100 33,419 3,500 14,000 4,764 77,100 27,647 53,256 2P Reserves (mmboe) 159 222 31 412 18 369 202 231…
  9. Corporate Presentation – Oando Energy Resources Inc. – slide 9
    Exploration & Production Growth Strategy OER Growing Reserves & Resources Competitive Advantage Value Drivers Indigenous status and capacity De-risk existing resources portfolio Presence in local communities, local and bring both…
  10. Corporate Presentation – Oando Energy Resources Inc. – slide 10
    Comparative Netbacks OER Attractive marginal field ensures a significant growth opportunity for OER /boe Production Sharing Contract (PSC) 100.00 (7.60) (12.00) (34.30) (2.30) 43.90 Government Royalty: 0-16.67% Over-riding…
  11. Corporate Presentation – Oando Energy Resources Inc. – slide 11
    Illustrative Profit & Tax Allocation Based on Fiscal Terms OMLs 60-63 OER Oil /bbl Concession Government Royalty: 20% 100.00 70.00 (0.90) (4.00) Over-riding Royalty: N/A (1.00) 62.73 (53.32) 62.73 Petroleum Profit Tax (PPT):…
  12. Corporate Presentation – Oando Energy Resources Inc. – slide 12
    Management OER Experienced Management Team with Significant Nigerian Relationships & Enterprise Pade Durotoye President, CEO, Director Deola Ogunsemi CFO Served as the CEO of OEPL from June 2010 until July 2012. Mr. Ogunsemi has…
  13. Corporate Presentation – Oando Energy Resources Inc. – slide 13
    NAOC JV Highlights OER 39,000boepd (45% liquids) On a consolidated basis (including COP acquisition) in 2013, OER generated 650 million of revenue, net of royalties, and 250 million of cash ow from Operations Experienced…
  14. Corporate Presentation – Oando Energy Resources Inc. – slide 14
    Appendix All Reserves & Resources estimates are classified in line with NI 51-101 regulations and Canadian Oil & Gas Evaluation Handbook standards. All estimates are from Petrenel Report dated 31st December 2013 16
  15. Corporate Presentation – Oando Energy Resources Inc. – slide 15
    The Nigerian Operating Environment 17
  16. Corporate Presentation – Oando Energy Resources Inc. – slide 16
    Nigeria Overview OER Oil Reserves (bnboe) Oil Production (mmboe/day) 297 11.2 265 10.3 10th in World 7.8 10th in World 2nd in Africa 4.3 1st in Africa 175 4.1 151 143 3.5 3.3 102 98 88 2.9 2.9 2.8 47 37 2.7 2.3 Saudi…
  17. Corporate Presentation – Oando Energy Resources Inc. – slide 17
    Africas Most Prolific Hydrocarbon Basin OER Nigeria is the largest, most proven & prolific oil and gas basin in Africa 19
  18. Corporate Presentation – Oando Energy Resources Inc. – slide 18
    Nigerian Regional Geology OER 20
  19. Corporate Presentation – Oando Energy Resources Inc. – slide 19
    IOCS Targeting Deepwater & Divesting of Onshore Fields OER mbpd 3000 Onshore Militancy had major Deepwater production, Stalled investment Offshore impact on production, increasingly important from PIB uncertainty Deepwater…
  20. Corporate Presentation – Oando Energy Resources Inc. – slide 20
    Fiscal Term Policy OER Illustrative comparison of oil production allocation outlined below Allocation of Oil Production Allocation of Oil Production Allocation of Oil Production under under Joint Venture (JV) under Marginal Field…
  21. Corporate Presentation – Oando Energy Resources Inc. – slide 21
    Fiscal Terms: OML 60-63 OER 23
  22. Corporate Presentation – Oando Energy Resources Inc. – slide 22
    Fiscal Terms: Other Assets OER OML 145 OML 131 OML 134 24
  23. Corporate Presentation – Oando Energy Resources Inc. – slide 23
    Fiscal Term: Marginal Fields OER 25
  24. Corporate Presentation – Oando Energy Resources Inc. – slide 24
    OER Portfolio - Exploration Assets* OER 26
  25. Corporate Presentation – Oando Energy Resources Inc. – slide 25
    2013 Capex Breakdown OER Q1 Q2 Q3 Q4 Total Abo-9 Work Over Abo (OML 125) Abo-4 Side Track Abo-8 Re-entry 67.6MM Up-dip side track of Abo-3 Exploratory drilling on Oberan (OML 134) Mindiogoro Prospect 7.3MM Drilling of Ebendo 5 &…
  26. Corporate Presentation – Oando Energy Resources Inc. – slide 26
    2014 Capex Plan - Legacy Assets OER Q1 Q2 Q3 Q4 Total Abo (OML 125) Abo-8 Reentry & Abo 12 drilling - 37.5MM 37.5MM Mindiogoro Well Drilling - Oberan (OML 134) 7.4MM 7.4MM Drilling of Ebendo 7 Well - 8.7MM Ebendo (OML 56) Umugini…
  27. Corporate Presentation – Oando Energy Resources Inc. – slide 27
    Focused & Prolific Niger Delta Portfolio OER 29
  28. Corporate Presentation – Oando Energy Resources Inc. – slide 28
    Near Term Value Drivers OER Near Term Increased production & resource commercialization: Improved and sustained production levels from Abo wells (OML125) New drilling campaign to increase production from Ebendo field (OML 56).…
  29. Corporate Presentation – Oando Energy Resources Inc. – slide 29
    Extensive, Owned Infrastructure OER Almost all of OERs production is processed through NAOC JV owned infrastructure; estimated replacement value, net to OER of USD277m, or higher 31
  30. Corporate Presentation – Oando Energy Resources Inc. – slide 30
    Future Growth Opportunities OER 32
  31. Corporate Presentation – Oando Energy Resources Inc. – slide 31
    Future Growth Opportunities OER 33
  32. Corporate Presentation – Oando Energy Resources Inc. – slide 32
    Bunkering Considerations OER OER is committed to aggressively focus on limiting bunkering Estimated Oil & Condensate Bunkering & Losses - OML 60 - 63 Oil & Condensate Rate (bpd, OER W.I.) Theft (% of Potential) 34
  33. Corporate Presentation – Oando Energy Resources Inc. – slide 33
    Operating Environment - NAOC JV OER 35
  34. Corporate Presentation – Oando Energy Resources Inc. – slide 34
    Long-Term Contracts Minimize Price Volatility OER Existing Commercial Agreements Gas volumes sold on long term contracts; 85% of sales to NLNG at US2.69/mcf (2013); oil sold into the spot market at a premium to Brent (2% premium in…
  35. Corporate Presentation – Oando Energy Resources Inc. – slide 35
    Strategic Relationships Provide Market Access OER 37
  36. Corporate Presentation – Oando Energy Resources Inc. – slide 36
    OER Contact Contact Details Tokunboh Akindele Head, Corporate Development & Investor Relations +234 (1) 2702496 takindeleoandoenergyresources.com Energy Resources 38

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