MRQ Presentation May 2012
Disclaimer This presentation is being made by or on behalf of Magnolia Petroleum Plc (“Company”). This presentation has not been approved for issue as a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”) and is being supplied in the United Kingdom only to (i) persons who have professional experience in matters relating to investments (being "investment professionals" within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO")) or (ii) persons falling within Article 49(2) ("high net worth companies, unincorporated associations etc") of the FPO or (iii) persons who are otherwise permitted by law to receive it. The information contained in the presentation is not intended to be viewed by, passed on or distributed (directly or indirectly) to, any other category of persons . Daniel Stewart & Company plc (“DS”) is authorised and regulated by the Financial Services Authority and will be acting as nominated adviser and broker to the Company in connection with the proposed placing of ordinary shares in the capital of the Company and admission of those ordinary shares to trading on the AIM market of London Stock Exchange plc. Neither the presentation, nor any part of it, nor anything contained or referred to in it, nor the fact of its distribution, should form the basis of or be relied on in any connection with or act as an inducement in relation to a decision to purchase or subscribe for or enter into any contract or make any other commitment whatsoever in relation to any such securities. Recipients of this presentation who decide to subscribe for the new ordinary shares in the Company are reminded that any application to so subscribe may only be made on the basis set out in the formal placing letters and not on the information contained in this presentation. In the particular, details included in this presentation are subject to updating, revision, verification and amendment and refer to events as having occurred which have not occurred at the date of this presentation but which are expected to happen in the future. This presentation does not constitute a recommendation regarding the securities of the Company. No reliance may be placed for any purpose whatsoever on the information contained in this presentation or on its completeness. No representation or warranty, express or implied, is given by the Company or DS or their respective directors, officers, employees, agents or advisers as to the accuracy, fairness, sufficiency or completeness of the information, opinions or beliefs contained in this presentation and, save in the case of fraud, no responsibility or liability is accepted by any of them for any loss, cost or damage suffered or incurred as a result of the reliance on such information, opinions or beliefs. In particular, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any projections, targets, estimates or forecasts and nothing in this presentation is or should be relied on as a promise or representation as to the future. Offers may only be made , and applications accepted, for new ordinary shares in the Company on the basis of formal placing letters. DS is acting exclusively for the Company in relation to matters described in this presentation and will not be responsible in respect of such matters to any other person for providing the protections afforded to customers of DS or for providing advice in relation to those matters. This presentation is confidential. Neither this presentation nor any other material relating to the proposal described herein may be copied, reproduced, shown, distributed or issued to any other person at any time without the prior written consent of DS nor may the information contained herein be discussed with any other person without the prior written consent of DS. This presentation does not constitute a prospectus or admission document and does not constitute, or form part of, an offer for sale or an invitation to subscribe for, or the solicitation of an offer to buy or subscribe for, securities in any jurisdiction where such an offer or solicitation is unlawful and is not for distribution in or into the United States of America or Canada or their respective territories and possessions, the Republic of Ireland, the Republic of South Africa, Japan or Australia. The securities of the Company have not been, and will not be, registered under the United States Securities Act of 1933 (as amended) or under the applicable securities law of the Republic of Ireland, the Republic of South Africa, Japan or Australia and, subject to certain exceptions, may not be offered for sale or subscription, or sold or subscribed directly or indirectly, within the United States, Canada, the Republic of Ireland, the Republic of South Africa, Japan or Australia or to or by any national, resident or citizen of such countries. By receiving and/or attending this presentation, you agree to be bound by the restrictions in this disclaimer. If you are in any doubt about the investment to which this presentation relates, you should consult a person authorised under FSMA who specialises in advising on the acquisition of shares and other securities. 2 | MAGNOLIA PETROLEUM PLC | MAY 2012
Magnolia Petroleum Plc is an AIM listed oil and gas exploration and production company that acquires and develops oil and gas properties located onshore in the United States in proven fields including the Bakken / Three Forks Sanish Formations located in North Dakota and the Mississippi Lime and Hunton / Woodford Formations located in Oklahoma 3 | MAGNOLIA PETROLEUM PLC | MAY 2012
Overview • AIM quoted cash generative oil and gas exploration and production company focussed on oil • Strategy to acquire leases in US onshore hydrocarbon formations such as the Bakken (North Dakota) Mississippi Lime and Woodford/Hunton (Oklahoma) where technology has transformed recovery/flow rates • Holds 5,180 net acres on which there are currently 74 producing wells • Further significant growth in 2012 – to participate in and operate wells with larger working interests in the re ‐ opening Mississippi Lime Formation (Oklahoma) • Commercial relationships with leading oil and gas companies such as ExxonMobil, Marathon Oil and Chesapeake Energy • Highly experienced management team skilled in the acquisition and development of oil and gas properties – leases secured at discounts to market value 4 | MAGNOLIA PETROLEUM PLC | MAY 2012
Board of Directors Rita Whittington A Petroleum Landman with 32 years’ experience in the oil and gas industry. She was a senior member of the asset management team at Primary Natural Resources I and II, where she was jointly responsible for COO company growth and the 3:1 return on equity upon divesting. Mrs Whittington is highly skilled in acquisitions, negotiations, operations and management of oil and gas properties. Steven Snead Mr. Snead is a Certified Professional Landman with 35 years’ experience in the US onshore oil and gas industry during which he has owned and operated successful oil and gas operating and services companies. CEO He founded and still owns Enerlex Inc. for the purpose of acquiring and managing royalty interests. He has extensive experience in oil and gas lease acquisition, drilling, development and operations. John Cubitt Over 31 years’ commercial experience in the oil exploration and production industry, following a period in academic research and graduate/post ‐ graduate education in the UK and USA. A registered Chartered Non ‐ Executive Chairman Geologist (CGeol) experienced in asset evaluation and project management, as well as board ‐ level strategic and operational direction. Managing Director of Woburn Energy Plc (formerly Black Rock Oil & Gas Plc), an AIM ‐ listed oil and gas exploration company, and also a director of various private oil industry consultancy and software companies. Gavin Burnell Mr. Burnell has 11 years’ experience of corporate finance, specialising in small ‐ cap companies, and is a director of corporate finance at Northland Capital Partners Limited. He is also the founder and/or director Non ‐ Executive of several companies in varying sectors including Globo Plc (AIM:GBO), Hot Rocks Investments Plc (PLUS:HRIP), Hellenic Capital Plc (PLUS:HECP) and Woodland Capital Limited. Ronald Harwood Mr. Harwood has had active involvement in originating and developing projects in oil and gas exploration and production since 1981. He founded Bellwood Petroleum Corporation in 1985, Bellwood Petroleum, LLC Non ‐ Executive in 2007 and Colony Petroleum, LLC in 1990. Colony secured US and international investors to participate in oil and gas exploration and production ventures originated and operated by American and Canadian independent oil and gas companies. 5 | MAGNOLIA PETROLEUM PLC | MAY 2012
Key Data Share Price 1.5p Market AIM Ticker MAGP Market Capitalisation £10.33 million S. Snead, 29.75% Ordinary Shares in 668,880,985 Sunvest Corporation Issue Ltd, 3.74% Other, 53.11% R. Harwood, 4.12% Daniel Stewart & Nomad & Joint Broker Pershing Nominees, Company Plc R. Whittington, 1.70% 3.30% G. Burnell, 2.09% Northland Capital Joint Broker S. Snead Sunvest Corporation Ltd R. Harwood Pershing Nominees Partners Limited G. Burnell R. Whittington Other 6 | MAGNOLIA PETROLEUM PLC | MAY 2012
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