Pantheon Resources Plc · LSE:PANR
Pantheon Resources — Investor Presentation (November 2007)
16 slides from Pantheon Resources's investor presentation, November 2007
Slide 1: Investor Presentation - November 2007
Investor Presentation - November 2007
Slide 2: Disclaimer
Disclaimer THESE PRESENTATION MATERIALS ARE FOR INFORMATION PURPOSES ONLY AND AND DO NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES, AND NEITHER THE PRESENTATION PRESENTATION MATERIALS NOR ANYTHING CONTAINED THEREIN NOR THE FACT OF THEIR DISTRIBUTION SHALL FORM THE
Slide 3: Investment Highlights
Investment Highlights Niche player in Gulf of Mexico region First commercial discovery & production within 6 months of IPO Production and cash flow from existing discoveries Asset portfolio diversified with potential for major growth in reserves and output Active drilling programme now underway – po
Slide 4: Assets
Assets Near term focus on hydrocarbon exploration and production onshore/near shore Gulf of Mexico (“GoM”) Six discoveries (two on Padre Island and four on Project Wharton) Expanded asset base since IPO Diversified portfolio with potential for major growth in reserves and production November 2007 4
Slide 5: Discoveries
DISCOVERIES ) November 2007 (Gey PANTHEON THI RESOURCES pic
Slide 6: Wilson – Discovery
Wilson – Discovery Discovery made in June 2007 in main target zone Onstream September 2007 Gross production at 3.0 mmcfd as at 1 October 2007 Gross reserves estimated at up to 20 bcf* Compares with 9 bcf for entire prospect as assessed by Pantheon’s independent technical adviser at time of IPO in Ap
Slide 7: Dunn Deep – Discovery
Dunn Deep – Discovery Farmed-into Dunn Deep #2 well in August 2007 Existing shallow discovery on Padre Island Onstream September 2007 within two weeks of discovery being made Gross production at 4.8 mmcfd and 70 bopd of condensate Pantheon WI: 7.5% Operator BNP November 2007 7
Slide 8: Project Wharton
Project Wharton Pantheon farmed-into Project Wharton, South Texas in June 2006 Six wells have been drilled with success rate of 67% Four discoveries on-stream producing around 90 -100 mcfd Average time from discovery to first output less than three months Prospects reserve estimates per well ranging
Slide 9: Prospects
Prospects South Louisiana Bullseye Project Wharton Padre Island November 2007 9
Slide 10: South Louisiana Venture
South Louisiana Venture Large oil play Multiple prospects First well currently drilling Nottoway prospect – estimated 35 mmboe target Well on lower risk Point Clair prospect currently scheduled for first quarter 2008 Pantheon is participating with a 7.5% WI, carrying the farm-out companies for a 25%
Slide 11: Bullseye Venture
Bullseye Venture Located in Iberia Parish, South Louisiana Two targets to be tested with one well Stratigraphic traps delineated by 3D seismic Combined gross best estimate potential reserves of 18 mmboe Well is currently scheduled to commence in fourth quarter 2007/first quarter 2008 Paying 15% to e
Slide 12: Padre Island
Padre Island Pantheon’s portfolio had prospects ranging in size from 9 to 337 bcf (P50 reserves)* Two of four wells drilled Plum Deep – non-commercial. Awaiting testing shallow section. Wilson *This range is based on studies conducted on the acreage by the operator, Golden Gate Petroleum ltd, and Pa
Slide 13: Actual and Forecast Quarterly Production
Actual and Forecast Quarterly Production 1.40 1.20 1.00 0.80 mmcfd 0.60 0.40 0.20 0.00 3Q-06 4Q-06 1Q-07 2Q-07 3Q-07 4Q-07 1Q-08 2Q-08 Quarter Forecasts made by company on current information from operator Projections based on existing discoveries alone and do not include include any potential produ
Slide 14: Pantheon - Drilling Programme
Pantheon - Drilling Programme Venture Prospect WI (%) Est. Start Date Est. Dry Hole Costs US$ mn Bullseye Bullseye 15.0 (1) 4Q 2007/1Q 2008 0.8 - 1.0 Padre Island Dunn Deep #3 7.5 1Q 2008/2Q 2008 0.4 Wilson 31.77 2Q 2008 2.5 Plum Deep – shallow 25.0 4Q 2007/1Q 2008 0.03 zone test South Louisiana Not
Slide 15: Summary
Summary First significant production within 18 months of IPO Existing discoveries providing increasing production and cash flow Asset portfolio refreshed and diversified with potential for major growth in reserves and output Active drilling programme now underway offering major upside potential Nich
Slide 16: Capital Structure
Capital Structure Existing shares on Issue 15,552,329 Placing price £0.60 Market Capitalisation (at £0.60) £9.33m Expected Placement 1.5 mn shares Issued Options £1.00 Exercise Price 583,284 £1.25 Exercise Price 250,000 £1.50 Exercise Price 750,000 £2.00 Exercise Price 750,000 November 2007 16
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