Slide 1: Reserves and Resources Upgrade and Summary
Reserves and Resources Upgrade and Summary November 2019
Slide 2: Key Takeaways
Key Takeaways 1C P90 BOE Resource = 182 Million Barrels of oil equivalent Net Present Value of oil and gas reserves up 98% to US$34 Million (AUD$50.4 Million) 1C P90 Oil Resource up 12% to 60.6 Million Barrels of Oil (90% Probability) 1C P90 Gas Resource up 13% to 609 Billion Cubic Feet of G
Slide 3: Oil and Gas Resources
Oil and Gas Resources PATHFINDER PROPERTY - GROSS CONTINGENT OIL & GAS RESOURCES 1C 2C 3C P90 - 90% probability P50 - 50% probability P10 - 10% probability Oil 60.6 Million barrels 83.3 Million barrels 119.7 Million barrels Gas 609 Billion cubic feet 787 Billion cubic feet 1.02 Trillion Cubic Feet T
Slide 4: Current Oil and Gas Reserves
Current Oil and Gas Reserves Net Present Value, millions of US$ Net Oil Net Gas Discounted at Reserves Reserves, Reserves Category (MBO) MMcf 0% 10% Proved Developed Producing Colorado 102.22 0.00 $2.13 $1.35 Kentucky 12.27 0.00 $0.135 $0.116 Total 114.49 0.00 $2.27 $1.47 Proved Undeveloped 170.34 0
Slide 5: Pathfinder’s Niobrara Formation ~twice as thick as the Wattenberg Field
Pathfinder’s Niobrara Formation ~twice as thick as the Wattenberg Field DJ Basin/Wattenberg Niobrara Pathfinder - Niobrara Depth (ft) 6,000 - 8,000 5,141 - 5,681 Thickness (ft) 150 - 300 537 Porosity (%) 6-10% 6-10% Water Saturation (%) 35-90 37-42 Thermal Maturity (Ro) 0.5-1.4 0.72 Resistivity (ohm
Slide 6: Niobrara Formation Codell Formation
CO WY A A’ 5136’ 6473’ 6816’ 7978’ Log Comparison Niobrara 6800’ 6667’ Pathfinder Vs Wattenberg A Niobrara Formation B C Twice as thick as Wattenberg D Codell Formation Fort Hays Codell Triple as thick as Wattenberg EXPLANATION 10/2/2005 Niobrara Lithology Well Details Shale JAKE 2-01H Depth to top
Slide 7: Near-Term Value Catalysts
Near-Term Value Catalysts Executing major gas off-take agreement Drilling 3 high impact oil targets identified on 3D seismic Rapidly grow production and cash flow through aggressive Pierre formation drilling program Pursue farm-out of deep formations to financially de-risk ongoing developmen
Slide 8: Contact Details & Disclaimers
Contact Details & Disclaimers Fremont Petroleum Corporation, Ltd. USA Headquarters Australian Office Timothy Hart 113 North Santa Fe Suite 302, Level 3 Managing Director & CEO Florence, Colorado 17 Castlereagh Thart@FremontPetroleum.com USA 81226 Sydney NSW 2000 +1 303 999 5420 Australia P: (719) 78