General Meeting Presentation October 2014 Your attention is drawn to the disclaimer at the end of this presentation
JV Structure Previous JV Structure JV Structure Post Deal Completion** George Kaiser Bobby Gray Vision Gas Resources Pantheon LLC (Operator) Vision Gas Resources Pantheon LLC (Operator) 50% 50% 75.0% 25.0%*…
Transaction overview Raised c.US30 million via equity placing(1): US21.3 million: Land Acquisition and to pay pro-rata share of 3D/2D seismic surveys (at cost) US5.6 million: Fund two wells (estimated net cost) LP2 offset & Prospect A…
Geological Overview* 2D Seismic 3D Seismic 2D Seismic Double A Wells New Prospect D New Prospect A Existing Acreage ** ** Field (1) New Prospects B&C ** 11 mmbo & 12 mmbo & Cumulative ** 11 mmbo & 255 261 Bcfg 276 Bcfg Prodn.20…
Acreage overview: Tyler & Polk Counties, East Texas* JV Acreage Key Existing acreage New Acreage Brookeland Field Analog field VRU1(1) Existing LP2 (2) Acreage LP2 New Prospect E 11 Mmbo Offset (3) Unconventional 255 Bcfg…
Acreage Position and Well Activity Polk Tyler County County New Prospect E LP2 Well LP2 Offset Location New Prospect D New Prospect A New Prospects B&C 6
Austin Chalk Potential Downside Protection Austin Chalk proven to exist on JV acreage Per well recoveries(1) : 190,000 barrels oil and 5 Bcf Per well gross revenue(2) : 39 million Less: 40% for royalty, production tax, operating…
P50 Prospective Resource Estimates (Recoverable)* Oil Gas Mmboe** Potential Individual Individual Mmbo* Bcf* Vertical Vertical Well Vertical Well Wells*** NPV10 (P50)*** NPV10 (Pmean)*** Existing Project 11 255 53 Up to 34 US25m…
Conclusion Fund raising delivers to investors: Increased equity exposure to very prospective existing acreage Increased acreage exposure to numerous additional Woodbine/Eagleford sandstone prospects Estimated prospective resource…
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