Bengal Energy Ltd. · TSX:BNG
Bengal Energy — Petrotech 2010
22 slides from Bengal Energy's conference presentation, Nov 3, 2010
Slide 1: Petrotech
PETROTECH Oct. 31 to Nov. 3, 2010 TSX: BNG
Slide 2: Forward-looking Statements
Forward-looking Statements Certain information regarding Bengal set forth in this document contains forward-looking statements. The use of any of the words "plan", "expect", "project", "intend", "believe", "should", "anticipate", "estimate" or other similar words, or statements that certain events o
Slide 3: The Bengal Energy Edge
The Bengal Energy Edge A veteran team with international experience World-class assets in stable countries A balance of exploration and exploitation 3
Slide 4: Corporate Information
Corporate Information Toronto Stock Exchange: BNG Shares (October 8, 2010): 30.2 million Options (August 1, 2010): 1.7 million Average exercise price: $1.37 Warrants: 0.9 million Market capitalization: $32.6 million Bengal is an international oil and gas exploration and production company based in C
Slide 5: Market Capitalization Upside
Market Capitalization Upside 375 350 325 300 Market Cap (October 13, 2010) 275 250 225 200 175 150 125 100 75 50 25 0 5
Slide 6: International Experience
International Experience Bradley Johnson Chairman and CEO • Former CEO, Sequoia Oil and Gas Trust, which grew to an enterprise value of $500 million before merging with Daylight Energy Trust in 2006 • President of global energy consulting practice, advising on $10-billion worth of transactions Chaya
Slide 7: Directors
Directors Richard A.N. Bonnycastle • Chairman and President of Cavendish Investing, Director of Pacific Iron Ore Corporation and Century Energy, former director of various oil and gas companies Richard Edgar • President of Poplar Creek Resources. Formerly Director of Shelton Petroleum, Executive Cha
Slide 8: Review of Recent Activity
Review of Recent Activity • Bengal raised gross proceeds of $12 million through a syndicate of agents to fund the company’s ongoing capital expenditures in India and Australia • Bengal has been awarded four large exploration blocks in proven, producing basins over the last 19 months • 340,000-acre o
Slide 9: Operations Overview
Operations Overview • Large land positions focused in Australia proven, producing basins • Very attractive fiscal terms with world pricing • Strong regulatory framework with British common law • Low commercial risk • Extensive management experience in both countries India • Partnered with five Natio
Slide 10: Cooper Basin Australia
Cooper Basin Australia Bengal W.I. % Gross Area (post farm Bengal Net Block (acres) in) (acres) ATP752P - Barta 360,570 25 90,143 Queensland ATP752P - Wompi 213,707 30 64,112 South Australia ATP934P - Barrolka 361,260 50* 180,630 ATP732P - Cuisinier Tookanooka 654,321 100* 654,321 Discovery PEL113 -
Slide 11: Cooper Basin Wells
Cooper Basin Wells Typical Well Characteristics Estimated Total Initial production ultimate vertical Capital per well recovery depth requirement per well Murta oil 1,600 m $1.6 MM/well 300-500 boe/d 300-500 Mbbl Hutton oil 1,800 m $2 MM/well 800-1,600 boe/d 250-400 Mbbl Permian gas Channel facies 3,
Slide 12: Cooper Basin – Cuisinier Discovery
Cooper Basin – Cuisinier Discovery • New potential fairway for oil- bearing Cretaceous Murta Proposed Proposed Cuisinier #2 sandstones; Cuisinier 1 discovery: Barta North appraisal – >14 m pay column – 520API oil • Discovery well, Cuisinier 1 commenced production May 2010; Cuisinier 1 well rate rest
Slide 13: Timor Sea – AC/P 47 and Region
Timor Sea –AC/P 47 and Region • Region consists of large oil and gas finds Challis 60MMbbls Bayu-Undan 3.5Tcf • In March 2009, Bengal was Jabiru 115 MM bbls 200MM bbls awarded a 100% working interest in Exploration Permit AC/P 47, a 3,485 km2 offshore block in the Timor AC/P 47 Sea • Multiple play p
Slide 14: AC/P 47 - N Hibernia Prospect
AC/P 47 - N Hibernia Prospect (Note 2) AC/P47 Prospect details: ~ 9 Km • Drill new well in ~300m water Anticipated TD ~2,300m Permit edge Permit edge • Up to 150 vertical metres of untested Triassic closure from coarse existing 2D grid • 41m mean expected pay (upside 115m net pay) from 244 m net por
Slide 15: Timor Sea – Katandra AC/P 24
Timor Sea – Katandra AC/P 24 • Bengal has 10% interest (PTTEP operator and NIPPON partners) Oliver 350 Bcf+ • Offshore Timor Sea: 20 MMbbls – 329 km² (81,300 gross acres) • Original Discovery well drilled December 2004 M Withers • Found 7-metre column of 480 API oil Katandra • 3D seismic completed i
Slide 16: Cauvery Basin, India
Cauvery Basin, India • 577,000 gross acres (411,450 net) • CY-OSN-2009/1 (Bengal 100%) 1,362 km2 - $US 2MM bid four- year capital program – Two offsetting exploration blocks within 50 km have expenditures greater than $US 200 million over the next four years • CY-ONN-2005/1 (Bengal 30%) 930 km2 - $U
Slide 17: Cauvery Offshore, India
Cauvery Offshore, India • 340,000 acre block • 7 year (4+3) term • Light work program ~$2MM seismic • Offset block has 3 firm wells in 4 years • Prospect depth 4,200 – 4,500m (375m water) • Play area 18,000 acres 17
Slide 18: What’s Next?
What’s Next? Block Activities Objective Murta 300+ bopd/well ATP 752P Participate in 3 wells Hutton 800+ bopd/well AC/P 24 Drill one exploration well 2011 Complete purchase of ATP Use seismic data to develop drilling ATP 732P 732P, conduct geoscience and locations to prove up the Permian gas shoot s
Slide 19: Opportunity Summary
Opportunity Summary • Exposure to world-class opportunities – 2.2 million net acres of land in Australia and India – Significant estimated resource in place – Attractive fiscal environments • Successful execution of repeatable strategy – Proven ability to win international bid rounds over formidable
Slide 20: Contact
Contact Bengal Energy Ltd. Suite 1000, 736 – 6 Avenue SW Calgary, AB T2P 3T7 T: 403.205.2526 F: 403.263.3168 investor.relations@bengalenergy.ca www.bengalenergy.ca 20
Slide 21: Disclaimers
Disclaimers AC/P 47 Prospective Oil Resources • D&M has estimated the unrisked mean prospective resource attributable to the assessed prospect identified in the AC/P47 Permit to be 736.5 million barrels recoverable. The corresponding geologic risk-adjusted mean estimate of the prospective resource i
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