Pantheon Resources Plc · LSE:PANR
Pantheon Resources — Shareholder Meeting (December 2008)
22 slides from Pantheon Resources's shareholder meeting presentation, Dec 15, 2008
Slide 1: AGM Presentation – 15 December 2008
AGM Presentation – 15 December 2008
Slide 2: Disclaimer
Disclaimer nThis presentation and any additional documents made available at the meeting (the “Presentation Materials”) are for information purposes only and do not constitute an offer or invitation to subscribe for or purchase any securities, and neither the Presentation Materials nor anything cont
Slide 3: Highlights
Highlights ü Strengthened Management Team ü New CEO ü Experienced Non-Executive Director ü Significant Commercial Discovery at Bullseye (September 2008) ü Farmed into the Tyler County, Austin Chalk Venture ü Option over 66.67% of Belle Grove acreage – offsetting Bullseye December 2008 3
Slide 4: Experienced Management
Experienced Management Executive § Jay Cheatham (CEO) § + 35 years experience in sector. Previously President of ARCO International with responsibility for all exploration and production outside USA and before that Senior Vice President with direct responsibility for all Gulf Coast USA operations. J
Slide 5: Pantheon - Prospects
Pantheon - Prospects § Bullseye (11.25% WI) § Belle Grove (option over 66.67% WI) § Tyler County, Austin Chalk (25% WI) § Padre Island § Dunn Deep (7.5% WI) § Project Wharton § Zebu (7.375% WI) § Baptist (11.5% WI) December 2008 5
Slide 6: Projects Key Points
n Projects Bullseye Project (11.25% WI) – Key Points n Three zones; n Camerina: P50 reserves est. 5.4 mmboe* n MioGyp: P50 reserves est. 4.4 mmboe* n Cib Haz: P50 reserves est. 22.3 mmboe* n Belle Grove Project (66.67% WI) n Camerina: P50 reserves est. 4 - 6 mmboe* n Tyler County, Austin Chalk Proje
Slide 7: Tyler County, Austin Chalk
Tyler County, Austin Chalk December 2008 7
Slide 8: Map of Austin Chalk Play
Map of Austin Chalk Play December 2008 8
Slide 9: Tyler County, Austin Chalk
Tyler County, Austin Chalk* n Aim to prove extension of proven Anadarko/Ergon field n Anadarko/Ergon have drilled north to south to Vision’s northern lease line n 44 of 45 wells “on structure” successful n Sole unsuccessful well was mechanical failure n Average gross recovery from Anadarko wells = 5
Slide 10: Low Risk: Vision acreage is surrounded by production and vertical wells
Low Risk: Vision acreage is surrounded by production and vertical wells drilled to the Woodbine or Buda Anadarko A-955 BP America Anadarko A-316 BS Isaacs Anadarko Ergon #A-371 BP Ergon #1 Ratcliff Blackstone #1 Rice Anadarko Univ #A-745 BP Blackstone Vision Vision #1 BSMC #1 Bobby Ray Vision LP 1 &
Slide 11: Bullseye
Your complimentary use period has ended, id + Co m pl ete Thank you for using =] F Complete. Bullseye December 2008 PANTHEON
Slide 12: Bullseye - Miogyp and Cib Haz Reservoir Outlines
Bullseye - Miogyp and Cib Haz Res ervoir Outlines • Jumonville #2 to test two major targets: Miogyp and Cib Haz • Both reservoirs clearly defined from 3-D seismic mapping • Reservoir thickness/distribution indicated from seismic amplitude anomalies • Successful appraisal would significantly increase
Slide 13: Bullseye – Reserve Growth Potential
Bullseye – Reserve Growth Potential* 100% Unr isked Reserve Estimate* * Mean P90 P50 P10 MIOGYP Oil (mmbo) 3.8 2.9 4.0 5.0 Gas (bcf) 3.8 2.9 4.0 5.0 Total (mmboe) 4.2 3.2 4.4 5.5 CAMERINA Oil (mmbo) 5.2 2.9 4.9 7.8 Gas (bcf) 5.2 2.9 4.9 7.9 Total (mmboe) 5.7 3.2 5.4 8.6 CIB HAZ Oil (mmbo) 18.7 14.5
Slide 14: Bullseye – Most Significant Discovery to Date
Bullseye – Most Significant Discovery to Date* Jumonville #1 Noble Acosta n Three major reservoirs, in vertical interval of W E 1,500ft n Camerina n P50 Reserve estimate: 5.4 mmboe n Apparent pay in Jumonville #1 n Appears to be widely distributed n Flowed 575 bopd in well 10 miles to west n Miogyp
Slide 15: Bullseye – Hydrocarbons Encountered in Acosta
Bullseye – Hydrocarbons Encountered in Acosta n Acosta - 2,000 ft east and 15- 15-20ft low of Jumonville #1 n Acosta well awaiting completion for Miogyp. n Shallower Camerina not tested due to adverse mechanical factors n Revised reserves in Miogyp: 5.7 mmbo if 26ft of pay in Jumonville #1. Minimum
Slide 16: Bullseye – Production is Strong and Growing
Bullseye – Production is Strong and Growing n Flow was constrained below 800 bopd and 300- 300-400 mcfd to avoid flaring large volumes of gas n Tank battery and gas flow lines are now installed and operational n Potential for significant growth into 2009 Jumonville #1 Miogyp: Production & Pressure 7
Slide 17: Belle Grove
Your complimentary use period has ended, Thank you for using PDF Complete. Belle Grove a December 2008 arn PANTHEON
Slide 18: Distribution of potential Camerina pay sands in Bullseye and Bellegrove lease blocks
Distribution of potential Camerina pay sands in Bullseye and Bellegrove lease blocks (on structure map for top of Camerina Sand) Penetrations of Camerina Sand Area of possible Camerina pay (light green) Robinson #1 Jumonville #1 Acosta #1 Belle Grove block (red outline) Bullseye block(yellow outline
Slide 19: Belle Grove Summary
Belle Grove Summary n Option acquired over 66.67% working interest n Immediately west of Bullseye n Main target – Camerina formation n Potential reserve size range 4 – 6 mmboe* n Approximately 600 acre tract n No intention to act as operator n No drilling planned at present December 2008 19
Slide 20: Production Summary 2008
Production Summary 2008 Average Monthly Production (boepd) 120 100 80 boepd 60 40 20 0 May July March October June November September January Feburary April August Monthly December 2008 20
Slide 21: Anticipated Drilling Schedule
Anticipated Drilling Schedule 2008 2009 May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jumonville # 1 Acosta #1 Jumonville # 2 Austin Chalk # 1 Austin Chalk # 2 Austin Chalk # 3 December 2008 21
Slide 22: Capital Structure
Capital Structure n Existing shares on Issue 39,837,130 n Share price (11 Dec 08) £0.135 n Market Capitalisation £5.38m Issued Options £1.00 Exercise Price 833,284 £1.25 Exercise Price 500,000 £1.50 Exercise Price 950,000 £2.00 Exercise Price 1,050,000 December 2008 22
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