Pantheon Resources Plc · LSE:PANR
Pantheon Resources — Investor Presentation (June 2008)
13 slides from Pantheon Resources's investor presentation, Jun 23, 2008
Slide 1: EGM Meeting June 23, 2008 Tyler County Austin Chalk
EGM Meeting June 23, 2008 Tyler County Austin Chalk
Slide 2: Disclaimer
Disclaimer This 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 con
Slide 3: Tyler County Location
Tyler County Location June 2008
Slide 4: Map of Austin Chalk Play
Map of Austin Chalk Play June 2008
Slide 5: Tyler County Texas Chalk
Tyler County Texas Chalk* Known producing region – Brookeland Field Has been drilled by Anadarko and Ergon Overall Tyler County programme 44 of 45 wells “on structure” are economic Equivalent to 98% success rate Wells “off structure” are uneconomic *All Tyler County Texas Chalk data provid
Slide 6: Tyler County Texas Chalk
Tyler County Texas Chalk* From public data**, Anadarko has 27 successful wells out of 28 drilled Success rate of 96% Sole unsuccessful well was mechanical failure. Now being redrilled Average gross recovery from Anadarko wells = 5 billion cubic feet per well Average net (after capex) PV pe
Slide 7: Tyler County Texas Chalk
Tyler County Texas Chalk* Estimate Anadarko Tyler County Play yielded US$500 mln net operating income/cash flow to date. Ergon Ratcliff well offsetting proposed Pantheon (Vision) acreage. Initial production of 490 barrels condensate and 26 million cubic feet gas per day. *All Tyler County Texa
Slide 8: Tyler County Texas Chalk
Tyler County Texas Chalk* Vision Resources (operator) controls next stage of play expansion Anadarko/ Ergon have drilled north to south to Vision’s northern lease line Pantheon would have 25% interest in this play extension Pantheon’s partners would be Vision Resources & Kaiser-Francis Oil
Slide 9: Tyler County Austin Chalk
Tyler County Austin Chalk Blocks in yellow indicate Vision leasehold acreage June 2008
Slide 10: Low Risk: Vision acreage is surrounded by production
Low Risk: Vision acreage is surrounded by production & 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 & 2
Slide 11: Tyler County Texas Austin Chalk
Tyler County Texas Austin Chalk* Pantheon would have 25% interest in this extension development/exploration play Pantheon would pay back costs relating to first 3 wells and Receive 150% revenue interest until payout of first 3 wells After 3 wells Pantheon would earn a full 25% interest in th
Slide 12: Tyler County Austin Chalk
Tyler County Austin Chalk* Average well pays out in 5 months Average gross well costs US$7 mln Programme includes back costs for land and G&G Pantheon’s net back costs would be US$2.5 mln each in wells 1 and 2 US$2 mln in well 3 No back or promote costs after well 3 *All Tyler County T
Slide 13: Chalk Programme Wells
Chalk Programme Wells* Drilling programme on average well for Pantheon with back costs pays out in 18 months After payout four average wells would generate US$1.4 mln per month net to Pantheon, declining over time US$8.5 mln funding needed for 2 wells After programme payout, each average wel
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