OTCQB: GSPE Creating Value in the Gulf of Mexico Investor Presentation August 2015
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,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” or “anticipates,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Forward-looking statements relate to anticipated or expected events, activities, and trends. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Forward- looking statements in this presentation include, without limitation, the Company’s e xpectations of oil and oil equivalents, barrels of oil and gas resources, prospects leased, dollar amounts of value creation, undiscovered resources, drilling success rates, resource information, superior economics, consistent value growth and other performance results. The SEC permits oil and gas companies, in their filings with the SEC to disclose only proved, probable and possible reserves, i.e . Items 1201 through 1208 of Regulation S-K (“SEC Oil and Gas Industry Disclosures” ). The estimates of recoverable resources used in this presentation do not comply with the SEC Oil and Gas Industry Disclosures, nor should it be assumed that any recoverable resources will be classified as proved, probable or possible reserves consistent with the SEC Oil and Gas Industry Disclosures. Recoverable resources estimates are undiscovered, highly speculative resources estimated where geological and geophysical data suggest the potential for discovery of petroleum but where the level of proof is insufficient for a classification as reserves or contingent resources. In addition, recoverable resources have a great amount of uncertainty as to their existence, absolute amount, and economic feasibility. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, there can be no assurances that such expectations will prove to be accurate. Potential and existing shareholders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this presentation speak only as of the date of this presentation, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, condi tions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this presentation. Please carefully review our filings with the SEC as we have identified many risk factors that impact our business plan. U.S. investors are urged to consider closely the disclosures in our Forms 10-K, 10-Q, 8-K and other filings with the SEC, which can be electronically accessed from our website at www.GulfSlope.com or the SEC's website at http://www.sec.gov/. Abbreviations: MM Million $ United States dollar B Billion RTM Reverse time migration Boe Barrel of oil equivalent GSPE GulfSlope Energy, Inc. EUR Estimated ultimate recovery SEC Securities and Exchange Commission Mcf Million cubic feet Tcf Trillion cubic feet NPV 10 Net Present Value discounted at 10% 2
Corporate Snapshot OTCQB GSPE Market Cap (8/12/15) $30 MM Shelf Price (8/12/15) $0.05 Avg. 3 Mo. Daily Volume ~331,000 GulfSlope Focus Area Deep Water Shares Outstanding 660.7 MM Insider Ownership 40% Established 2013 Focus Area Offshore Gulf of Mexico Target Primarily Shelf Miocene Seismic 2.2 MM Acres (440 Blocks) Lease Blocks 23 Portfolio 19 Drilling Prospects Prospective Resources 2+ Billion boe of net recoverable resources 3
Investment Highlights Significant Oil and • 2+ billion boe of net conventional recoverable resources Natural Gas Exposure • 23 blocks with 19 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’s prospects offer significant return potential in current commodity price environment • Former Anadarko executive leadership World Class Team • Proven track record of applying technology to find oil and gas • Specialized technical team with extensive Gulf of Mexico success Leading the • GulfSlope executive team credited for originally discovering this play Redevelopment of the • Strategic advantage from proprietary reprocessed seismic •Lease sale establishes GulfSlope’s leading acreage position Shelf Miocene • Multiple exploration wells planned by the end of 2016 Drilling Program • Currently focused on pre-drill operations • Hybrid operating model with preference to operate 4
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 Anadarko, most 19 years with Anadarko Former I-banker with Weisser, Former I-banker with JP Morgan recently as CEO • Johnson & Co., Sanders Morris • Formerly with Sohio and Gulf Oil Former engineer with Venoco, • Harris and Jefferies & Co. Board member of ION • Endeavour and Devon BS Physics, MS Physics, PhD • Geophysical BS Economics, MBA Finance • Physics BS Petroleum Eng, MS Energy • BS Geology, MS Geology Management • • • • 40 years experience 41 years experience 22 years experience 16 years experience Clint Moore Charles Hughes Mike Neese Bill Lefler VP, Corporate Secretary & CAE VP, Land Exploration Manager Senior Staff Geologist • • • • 16 years with Anadarko 26 years with Anadarko Formerly with Amoco, BP, Formerly with Texaco, Mesa, BHP • • Endeavour and Vanco and Woodside Formerly with Diamond Formerly with Marubeni Oil & • • Shamrock/Maxus, Murphy and Gas BS Geology, MS Geophysics BS Geology ION Geophysical • BBA, Petroleum Land • BA Geology, BBA Finance & Econ Management • • • • 36 years experience 36 years experience 37 years experience 45 years experience Richard Heaney Alex MacKeon Terry Stellman Kevin Bain Senior Staff Geophysicist Senior Staff Geophysicist Senior Staff Geophysicist Geophysicist • • • • Formerly with Amoco, Sohio, BP, Formerly with Mobil, McMoRan, Formerly with Shell, Nippon and Formerly with the Institute for Conoco, Repsol and Murphy BP, Maxus, Enron and Repsol Vanco Geophysics, Fermi National • • Accelerator Lab and Marathon • BS Physics, MS Geophysics BS Physics BS Geology, MS Geophysics • BS Physics, MS Geophysics, PhD Geophysics candidate • • • • 40 years experience 42 years experience 27 years experience 8 years experience 5
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 1990s 1980s 3 Bboe • • New seismic tools designed for the Deeper horizon was visible upon 500 MMboe desert allowed reinterpretation of further seismic analysis, which was the area previously untested • • Major oil companies considered Majors considered the area the area played-out played-out 3 rd largest Alaska field discovered • • Largest discovery in 32 years North Sea Gulf of Mexico • • 2.4 Tcfe discovered in mid 2000s 150 Million boe discovered in the 1990s • Exploration success based on • 2.4 Tcfe regional seismic advantage Global pioneers of sub-salt exploration, which led to • Major oil companies considered deepwater GoM, pre-salt Brazil, the area played-out and others 150 MMboe • Early independent company entry • Early vintage sub-salt imaging as majors started to exit limited potential 6
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 opportunities • Capitalize on strategic advantages provided by exploration work to identify undervalued producing assets • Additional prospects identified for future lease sales with regional 3D data set of 2.2 million acres (440 blocks) 7
Recommend
More recommend
