Eagle Ford Oil & Gas Corp · OTC:ECCE
Eagle Ford Oil & Gas — Technical Presentation (October 2012)
25 slides from Eagle Ford Oil & Gas's technical presentation, Oct 1, 2012
Slide 1: Estimated Future Reserves and Revenues, East Pearsall Project
Eagle Ford Oil & Gas Corporation (EFOGC) Estimated Future Reserves and Revenues East Pearsall Project 3,684 Acre Lease Block Frio County, Texas September 14, 2012 Prepared By Ronald A. Bain, PhD Eagle Ford Oil and Gas Corporation
Slide 2: Eagle Ford Shale Resource Play Project Location Map
Eagle Ford Shale Resource Play Project Location Map
Slide 3: Table of Contents
Table of Contents Purpose of Report Summary Reserves Estimate Approach EUR and IP assumptions (Expected Case) Composite Production Profiles – Austin Chalk, Eagle Ford Shale, Buda Limestone Cash Flow Model (Expected Case) Individual Well Economics by Reservoir Cash Flow Model Assumptions “Expected Ca
Slide 4: Oil and Gas Reserve Disclaimer
EFOGC Leasehold Plat Development Horizontal Well Pattern Plat Oil and Gas Reserves Definitions Curriculum Vitae – Ronald A. Bain. PhD Medallion Oil Company’s Concurrence Letter Oil and Gas Reserve Disclaimer The United States Securities and Exchange Commission permits oil and gas companies, in their
Slide 5: Purpose of Report and Summary
Purpose of Report The purpose of this report is to provide to potential investors best estimates of possible hydrocarbon volumes and projected future net revenues from the lease block based upon analyses of currentl y available, pertinent data utilizing sound geological and engineering practices. Su
Slide 6: Reserve Estimates Approach
Reserve Estimates Approach No current production from the lease block has been established. Possible reserve calculations are based on legacy lease (Austin Chalk) and nearby well production, industry-wide historical production versus time decline curves as well as shareholder presentations of public
Slide 7: Composite Production Profiles
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Slide 8: Cash Flow Model – Expected Case
Cash Flow Model – “Expected Case” A model cash flow economics of a n individual well was calculated for each of the Austin Chalk, Eagle Ford Shale and Buda Limestone formations. Cash Flow Model Assumptions: 1. 5 Year Cash Flow Model, even though the wells continue to produce substantial revenue for
Slide 9: Expected Case Development Drilling Plan (40 Wells)
East Pearsall Project “Expected Case” Development Drilling Plan (40 Wells)
Slide 10: Upside Case Possible Oil and Gas Reserves
“Upside Case” Possible Oil and Gas Reserves In addition to the “Expected Case” reserve scenario, EFOGC has evaluated an “Upside Case” which includes 6 additional Austin Chalk and 6 additional Eagle Ford Shale wells. The technical rationale is based upon the possibility of economic production from th
Slide 11: Well Costs
Well Costs Horizontal well costs for drilling and completing in the Austin Chalk, Eagle Ford Shale, Buda Limestone and Pearsall Shale were estimated. Drill depths to the reservoirs range from approximately 5000’ to 9,000’. Because the true vertical depth between the Austin Chalk and Buda Limestone i
Slide 12: Product Pricing, Operating Expenses, Values Not Considered
Product Pricing Product prices of $95.00 per barrel of oil and $3.00 per Mcf gas (Btu adjusted to $3.60/Mcf) were used in the cash flow models and economics calculations. No escalation of the oil or gas pricing was used over the life of the production. Operating Expenses For the Austin Chalk, Eagle
Slide 13: EFOGC Leasehold
EFOGC Leasehold Eagle Ford Oil & Gas 3,684 acre lease block, Frio County, Texas
Slide 14: Development Horizontal Well Pattern on Leasehold
Development Horizontal Well Pattern on Leasehold, Applicable to Austin Chalk, Eagle Ford Shale and Buda Limestone Reservoirs
Slide 15: Data Sources
Data Sources Historical production data were obtained from public sources, such as DrillingInfo and Lasser Production Data Services. Data including basic well information, geological interpretations, product prices, operating costs, initial test rates were obtained from various public sources, such
Slide 16: Examples of Texas Railroad Commission Well and Production Database
Examples of Texas Railroad Commission Well and Production Database (DrillingInfo)
Slide 17: Frio County Buda Lime Recent IPs and Permits
Frio County Buda Lime Recent IP’s and Permits - Frio Co. Goodrich Petroleum Carnes “B” 7H First 5 months production: (22,498 BO Fy E et wee seat
Slide 18: Examples of Information from Shareholder Presentations
Examples of Information from Shareholder Presentations
Slide 19: Buckhorn Eagle Ford Current Stats
BUCKHORN EAGLE FORD CURRENT STATS
Slide 20: Buckhorn Pearsall
Slide 21: Oil and Gas Reserve Definitions
Oil and Gas Reserve Definitions Approved by the Board of Directors, Society of Petroleum Engineers (SPE) Inc., and the Executive Board, World Petroleum Congresses (WPC), March 1997 Definition Reserves are those quantities of petroleum which are anticipated to be commercially recovered from known acc
Slide 22: Reserves which are to be produced through the application of established improved recovery methods
Reserves which are to be produced through the application of established improved recovery methods are included in the proved classification when (1) successful testing by a pilot project or favorable response of an installed program in the same or an analogous reservoir with similar rock and fluid
Slide 23: expected to be recovered from (1) completion intervals which are open at the time
expected to be recovered from (1) completion intervals which are open at the time of the estimate but which have not started producing, (2) wells which were shut in for market conditions or pipeline connections, or (3) wells not capable of production for mechanical reasons. Behind-pipe reserves are
Slide 24: Curriculum Vitae - Dr. Ronald A. Bain
Curriculum Vitae - Dr. Ronald A. Bain Dr. Bain has been involved in the oil and gas exploration business for over thirty -eight years. Dr. Bain spent more than eighteen years of his extensive career at Anadarko Petroleum where he was responsible for Offshore and Onshore Gulf of Mexico Exploration, I
Slide 25: Medallion Oil Company's Concurrence Letter
MEDALLION OIL COMPANY’S CONCURRENCE LETTER
Eagle Ford Oil & Gas — Technical Presentation (October 2012) on 6ix