Gulfslope Energy, Inc. · OTC:GSPE
Gulfslope Energy — Investor Presentation (February 2018)
25 slides from Gulfslope Energy's investor presentation, Feb 13, 2018
Slide 1: Leading the Gulf of Mexico Recovery
Leading the Gulf of Mexico Recovery Investor Presentation February 2018 OTCQB: GSPE
Slide 2: Forward-looking statements
2 This presentation may contain forward - looking statements about the business, financial condition and prospects of the Company. Forwar d - looking statements can be identified by the use of forward - looking terminology such as “believes,” “projects,” “expects,” “may,” “goal,” “estimates,” “shoul
Slide 3: World Class Opportunity
3 World Class Opportunity • Delek Group, Ltd. secured as partner for drilling portfolio • Anticipate a minimum of two wells to be drilled in 2018 • High specification jackup rig contracted for initial drilling 2018 Drilling Program Underway • Nine well portfolio ready - to - drill with almost 1 bill
Slide 4: Partnership Overview: Summary of Farmout Terms
4 Partnership Overview Summary of Farmout Terms • Minimum commitment by Delek to drill two exploratory wells in Phase 1 ‒ Partnership has selected Canoe Shallow and Tau prospects to be drilled ‒ Delek has the option to participate in multiple additional two - well phases • Delek paying 90% of explor
Slide 5: 2018 Drilling Program: Canoe and Tau
5 0 5 10 15 20 25 30 35 Canoe (2) Canoe Tau Months Drilling Development Regulatory/POD Production • 18MMBOE prospect with $162MM NPV 10 » 3.0MMBOE with $37MM NPV 10 net to GulfSlope • $4.6MM dry hole cost – 5,500ft drilling depth » $370k dry hole cost net to GulfSlope • Direct hydrocarbon indicators
Slide 6: Corporate Overview: Executive Team and Board
6 Corporate Overview Executive Team and Board John Seitz Chairman & CEO Ron Bain President & COO John Malanga CFO Robert Meize VP - Operations Charles Hughes VP - Land Clint Moore VP and CAE Rich Langdon Board Member Paul Morris Board Member Snapshot Established 2013 Focus Area Offshore Gulf of Mexi
Slide 7: Proven Track Record
7 Alaska – Alpine Field Discovery Algeria – Ourhoud, Hassi Berkine Discoveries Proven Track Record Background Management Response Discovery Opportunity • Mega - majors had lost interest in Alaska exploration • Anadarko identified prospect with seismic anomaly support below the primary objective • Pa
Slide 8: 2018 Goals and Milestones Achieved
8 2018 Goals Milestones Achieved GulfSlope has Reached an Inflection Point Complete build out of operational capabilities Increase investor awareness through active investor relations program Drill a minimum of two exploratory wells Up - list onto a national exchange Pursue additional strategic oppo
Slide 9: Why the Gulf of Mexico?
9 Why the Gulf of Mexico? • Historical lows for drilling and development costs • Significant strategic opportunities for technology - centric acquirors • Royalty rates for new leases reduced to 12.5% from 18.75% • Consistent and predictable approach from regulatory bodies • Probability of success st
Slide 10: Technology has Reduced Entry Costs
10 • Seismic Processing – Advanced algorithms maximize accuracy – Processing is now faster and less expensive – Reverse Time Migration and other technologies utilized by GulfSlope and industry provide the most accurate view of subsalt prospects • Seismic Capture – 1990s: 2D and isolated 3D seismic –
Slide 11: Seismic Processing Improvements
11 Today: RTM Reprocessed Circa 2005: WEM Processing Base of salt now clear Additional salt body appears Potential targets now defined Previous generations of seismic interpretation were insufficient to reduce exploration risk below salt Unclear interpretation of geology below salt Recent advances i
Slide 12: Focused on Proven Petroleum System
12 Focused on Proven Petroleum System Conger Field 250+ MMBOE Cardamom Field 140+ MMBOE Enchilada Field 35 MMBOE Mahogany Field 60+ MMBOE Hickory Field 75+ MMBOE Tanzanite Field 30 MMBOE Selectron Tanker Graviton Photon Pomeron Tachyon Tau Katmai Discovery Quark Canoe Tornado Discovery Megalodon Dis
Slide 13: Drilling Portfolio
13 Prospects Canoe Shallow Selectron Shallow Graviton Photon Pomeron Quark Tachyon Tanker Tau Total / W. Avg. EUR (MMBOE) 18 9 190 88 32 156 112 89 301 996 Drill Depth 5,500’ 5,000’ 25,000’ 19,000’ 15,000’ 23,000 19,000’ 25,000’ 26,000’ Water Depth 320’ 315’ 325’ 405’ 325’ 430’ 415’ 325’ 280’ Percen
Slide 14: Canoe Shallow Prospect
14 Canoe Shallow Prospect Vermillion Area, South Addition 378 • GSPE 20 % WI (75% Delek, 5% TXSO) • 81.25% NRI 8/8 ths • GSPE 8% of exploratory well’s costs, 20% of costs thereafter upon commercial discovery Objectives / Traps • Shallow S, C and T sands • L arge , simple fault traps • Estimated 51%
Slide 15: Canoe Shallow Prospect (cont.)
15 Canoe Shallow Prospect (cont.) Canoe
Slide 16: Tau Prospect
16 Tau Prospect Ship Shoal Area , South Addition 336 and 351 • GSPE 20 % WI (75% Delek, 5% TXSO) – 81.25% NRI 8/8 ths for block SS336 – 87.5% NRI 8/8 ths for block SS351 – Qualifies for 35 BCFG Royalty Relief with completion at or below 20,000ft • GSPE 8% of exploratory well’s costs, 20% of costs th
Slide 17: Tau Prospect (cont.)
17 Tau Prospect (cont.) Tau MAHOGANY Reservoir Analogue (Mahogany SS349/359) • Targets: P, T, & U sands (U. Miocene) • Initially drilled: 1993 • Operator: W&T Offshore • Cumulative production: 34.5 MMBO + 70 BCF = 46 MMBOE • Peak production rate: 14,600 BOPD + 35,000 MCFPD = 20,500 BOEPD Trap Analog
Slide 18: Value Proposition
18 Value Proposition $162 $3,208 $4,131 $5,091 $6,011 $7,188 $8,946 $9,085 $9,225 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 Canoe Shallow Tau Tanker Graviton Photon Tachyon Quark Pomeron Selectron Shallow $ Millions Prospect Net Present Value @ 10% Cumulative NPV @ 10
Slide 19: Contact
19 OTCQB: GSPE GulfSlope Energy John H. Malanga 281.918.4103 john.malanga@gulfslope.com www.GulfSlope.com MZ Group Derek Gradwell 512.270.6990 dgradwell@mzgroup.us
Slide 20: Tanker Prospect
20 Tanker Prospect Grand Isle Area, South Addition 102 • GSPE 100% WI (81.25% NRI) • BOEM OCS Lease Sale 235 (2015) • Qualifies for 35 BCFG Royalty Relief with completion at or below 20,000’ Objective • M/L Miocene M5 - M10; 21,000 – 28,000 feet Trap • 3 - way trapped against a fault and weld • Deep
Slide 21: Graviton Prospect
21 Graviton Graviton Prospect Grand Isle Area, South Addition 103 • GSPE 100% WI (81.25% NRI) • BOEM OCS Lease Sale 231 (2014) • Qualifies for 35 BCFG Royalty Relief with completion at or below 20,000ft Primary Objectives • Upper Miocene pays at Hickory (M3) 16,000ft • Deeper sands in GI 106 #1 (M4
Slide 22: Photon/Tachyon Prospects
22 Tachyon Photon Photon/Tachyon Prospects Eugene Island Area, South Addition 390; Green Canyon 5 • GSPE 100%WI (81.25% NRI) • BOEM OCS Lease Sale 231 (2014) • Qualifies for 35 BCFG Royalty Relief with completion at or below 20,000’ Objectives • Photon: Plio/Pleistocene targets 12,000’ – 15,000’ • T
Slide 23: Quark Prospect
23 Quark Prospect Eugene Island Block 390, 397 and Green Canyon 4, 5 • GulfSlope 100% WI (81.25% NRI) • BOEM OCS Lease Sale 231 (2014) • Qualifies for 35 BCFG Royalty Relief with completion at or below 20,000’ Objectives • Pliocene targets: 17,000’ – 22,000’ Trap • Fault and Stratigraphic • Estimate
Slide 24: Pomeron Prospect
24 Pomeron Prospect Ship Shoal Area, South Addition 328 and 335 • GSPE 100% WI (81.25% NRI) • BOEM OCS Lease Sale 231 (2014) • Qualifies for 35 BCFG Royalty Relief with completion at or below 20,000ft Objectives • DHI Supported • Lower Pliocene: PL5 - A @ 13,500ft PL5 - B @ 14,000ft Trap • 3 - Way a
Slide 25: Selectron Shallow Prospect
25 Selectron Shallow Prospect Vermillion Area, South Addition 375 • 100% WI (81.25% NRI) • BOEM OCS Lease Sale 231 (2014) Suprasalt Objectives • Pleistocene (DHI - supported) • “S” Series sand @ 3100 - 3900’ normal pressure • “C” Series sand @ 4200 - 4500’ Trap • Simple fault traps • Estimated 100%
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