Gulfslope Energy, Inc. · OTC:GSPE
Gulfslope Energy — Investor Presentation (January 2015)
20 slides from Gulfslope Energy's investor presentation, January 2015
Slide 1: Investor Presentation: Creating Value in the Gulf of Mexico
OTCQB: GSPE Creating Value in the Gulf of Mexico Investor Presentation January 2015
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain forward-looking statements about the business, financial condition and prospects of the Company. Forward- looking statements can be identified by the use of forward-looking terminology such as “believes,” “projects,” “expects,” “may,” “goal,”
Slide 3: Corporate Snapshot
Corporate Snapshot OTCQB GSPE Market Cap (1/21/15) $66.1 MM Shelf Price (1/21/15) $0.10 Avg. 3 Mo. Daily Volume 200,075 GulfSlope Focus Area Shares Outstanding 660.7 MM Deep Water Insider Ownership 40% Established 2013 Focus Area Offshore Gulf of Mexico Target Primarily Shelf Miocene Seismic 2.2 MM
Slide 4: Investment Highlights
Investment Highlights Significant Oil and • 2 billion boe of net conventional recoverable resources Natural Gas Exposure • 21 blocks with 17 prospects ranging from 30-280 MMboe • Gulf of Mexico has some of the lowest breakeven costs in the E&P Superior Breakeven industry today Economics • GulfSlope’
Slide 5: Team In Place to Execute
Team In Place to Execute Seasoned industry professionals with unparalleled management and technical expertise lead by former Anadarko CEO John Seitz Ron Bain, PhD John Malanga Brady Rodgers Chairman and CEO President and COO VP, Chief Financial Officer VP, Development & Engineering • 25 years with A
Slide 6: A History of Value Creation Through Exploration
A History of Value Creation Through Exploration GulfSlope management has a track record of discovering large oil and gas fields utilizing cutting edge technology, leading to significant shareholder value creation Algeria Alaska • 3 Billion boe discovered in early • 500 Million boe discovered in late
Slide 7: New Opportunities
New Opportunities Focus on Operations in 2015 • Pre-drilling operations started for Phase 1 prospects • Preparing to drill as operator, which may change with partnering Corporate Development • Current commodity prices and simplified capital structure provides GulfSlope with unique acquisition opport
Slide 8: Mean Prospect Size / 3rd Party Resource Report
3rd Party Resource Report 2 Billion barrels of prospective resources (1) 300 DeGolyer and MacNaughton 5 of the 17 Prospects are Included in Phase 1 Drilling reviewed GulfSlope’s 17 Graviton individual prospects: Tau • Average size is 120 MMboe • Independent 3rd party evaluation 200 of prospect sizes
Slide 9: Phase 1 Drilling Program
Phase 1 Drilling Program • GulfSlope has high-graded five prospects with mean unrisked resource potential of 623 MMboe • Attractive returns in current commodity price environment with F&D costs of $3-$10 per boe • Leveraged to both oil and gas weighted prospects Phase 1 Total Net Present Value Indiv
Slide 10: How We Compare: Breakeven $/bbl
How We Compare Gulf of Mexico leads the North American market for lowest cost new oil production • Previous deepwater discoveries under development benefit from significant costs spent to date, but new Deepwater Miocene fields breakeven at ~$50/boe • GulfSlope’s full-cycle breakeven costs of $20-$
Slide 11: Accelerating Shelf Miocene Activity
Accelerating Shelf Miocene Activity W&T Offshore Fieldwood (Riverstone) Apache Mahogany production increases 550% with benefit of “We are re-shooting all of our large “Discoveries on the shelf have drilling based on new RTM seismic fields [with 3D seismic] to make sure quicker cycle times, require l
Slide 12: Exploring a Proven Petroleum System
Exploring a Proven Petroleum System 420+ MMboe discovered in the 1990s in the Shelf Miocene sub-salt play Conger 243 MMBoe Discovered - 1998 Production - 2000 Hickory 47 MMBoe Discovered - 1998 Production - 2000 Hickory Mahogany Mahogany >45 MMBoe Discovered - 1993 Production - 1997 Enchilada Enchil
Slide 13: Shelf Miocene Geology
Shelf Miocene Geology GulfSlope is focused on a proven area of the Miocene where significant fields have been discovered Ultra-Deep Deepwater Miocene & Gas Shelf Miocene Lower Tertiary North Mahogany North Mahogany North North NorthKatmai DiscoveryMahogany South MahoganyMahogany North Mahogany North
Slide 14: Technology has Reduced Entry Costs
Technology has Reduced Entry Costs Large E&P companies no longer have singular access to the most advanced seismic processing technologies Technology Evolution Computing Imaging • Seismic Processing Cost Capability – Advanced algorithms maximize accuracy – Processing is now faster and cheaper Scalab
Slide 15: Applying Proven Technology in the Gulf
Applying Proven Technology in the Gulf Auger Field Mahogany Field Conger Field Shell adds 140 MMboe to 25 year old W&T Offshore continues to grow Hess doubles reserves with field with new seismic technology the initial Shelf Miocene discovery new seismic “The Cardamom discovery [140 Mmboe] was the 2
Slide 16: Why We Like the Shelf: Proven Economics
Why We Like the Shelf: Proven Economics What do previous Shelf Miocene fields look like at today’s costs and commodity prices? Income Actual production history priced on 1/21/15 strip Expenses Modern service costs estimates (mid-year 2014 estimate) Conger Field Hickory Field Production (EUR) 243 MMb
Slide 17: Valuation: Cobalt Analog
Valuation: Cobalt Analog GulfSlope has significant valuation upside vs Cobalt IPO pricing Cobalt GulfSlope At IPO (1/2010) Today (1/2015) GSPE Target Area Regional Focus • Sub-salt GoM & W Africa • Sub-salt GoM Mgmt History • Ex-Unocal & BP • Ex-Anadarko Asset Acquisition Lease blocks from federal g
Slide 18: Building Momentum
Building Momentum GSPE continues to execute on its strategy of exposing investors to multiple high-impact exploration opportunities Drilling Rig Commitment Spud 1st Exploration Well Uplist to Late ’15/Early ‘16 National Exchange Announce Drilling Plans and File Permits Annual Lease Sale March 2015 1
Slide 19: Investment Highlights
Investment Highlights “Deepwater size prospects at shallow water costs and with shorter cycle times” • On track to drill late 2015/early 2016 • Actively drilling through the oil price downturn with lowest breakeven prices in North America • 2 Billion boe of potential oil and natural gas resources •
Slide 20: Investor Relations Contacts
Investor Relations Contacts OTCQB: GSPE GulfSlope Energy MZ Group Brady Rodgers Derek Gradwell 281.918.4110 512.270.6990 brady.rodgers@gulfslope.com dgradwell@mzgroup.us www.GulfSlope.com 20
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