Harvest Natural Resources — Enercom Oil and Gas Conference 2014
17 slides from Harvest Natural Resources's conference presentation, Aug 18, 2014
Slide 1: Enercom Oil and Gas Conference
Enercom Oil and Gas Conference Enercom Oil and Gas Conference August 18, 2014 August 18, 2014 Exhibit 99.1
Slide 2: Forward Looking Statements
Forward Looking Statements Forward Looking Statements Cautionary Statements: Certain statements in this presentation are forward-looking and are based upon Harvest ’ s current belief as to the outcome and timing of future events. All statements other than statements of historical facts including pla
Slide 3: About Harvest
About Harvest About Harvest Market Data Exchange/Ticker Market Capitalization * $ 202 MM Enterprise Value * $ 194 MM Cash (06/30/2014) $ 8.1 MM Debt (06/30/2014) $ 0 MM Shares Outstanding 42.1 MM Institutional Ownership 71.5% * As of August 14, 2014
Slide 4: Highlights
Highlights Highlights Venezuela continues strong production growth Up 11% in 2013 2Q 2014 production 45,073 bopd, up 13% vs. 2013 average Venezuela sale pending government approval Estimated $220 million net proceeds after tax and other costs Gabon valuation improving based on success “2 for 2” Harv
Slide 5: Venezuela – Petrodelta
Venezuela – Venezuela – Petrodelta Petrodelta 20.4% Equity Interest in Petrodelta Six fields, 9.9 billion barrels of gross oil-in-place Growth underway Average 45,073 bopd in 2Q 2014 Successful development program ongoing in Temblador, Isleño and El Salto Six drilling rigs operating El Salto – 23,00
Slide 6: Gabon – Dussafu Block
Gabon – Gabon – Dussafu Block Dussafu Block 680,000 acre PSC, Offshore Gabon Harvest 66.667% operated interest rd Exploration Period Extends to May 27, 2016 Work commitments fulfilled Key Harvest Activities Discovered Ruche (2011) and Tortue (2013) Contingent Resources Report (2014) Development of t
Slide 7: Ruche and Tortue Main Pay Zones
Ruche and Tortue Main Pay Zones Ruche and Tortue Main Pay Zones Ruche Gamba Sand Structure Map DRM1 ST1 DRM1 ST2 DRM1 Oil/Water Contact 2 km Tortue Dentale 6 Sand Structure Map DTM 1 ST1 DTM 1 Oil/Water Contact 2 km Ruche main pay zone is the Gamba sand, with additional pay in stacked Dentale sands
Slide 8: Cluster Development of Oil Discoveries
Cluster Development of Oil Discoveries Cluster Development of Oil Discoveries Contingent Resources Report 1C: 17.0 mmbo gross 2C: 36.3 mmbo gross 3C: 70.6 mmbo gross Work-In-Progress FEED for facilities/equipment FPSO selection Well completion design Logistics planning First production by 2H 2016 Fi
Slide 9: Dussafu Gamba Oil Resources
Dussafu Gamba Oil Resources Dussafu Gamba Oil Resources Tortue Ruche Walt Whitman Ruche EEA Gamba Oil Reservoir Gamba Prospect Gamba Lead Gamba Sand the historical main objective Immediately below salt Very continuous High quality Low-risk undrilled structures New seismic improving imaging Similar i
Slide 10: Syn-rift Fault Blocks
Syn-rift Fault Blocks New Plays Confirmed by New 2013 3D New Plays Confirmed by New 2013 3D Structural Cross-section Across Dussafu Block
Slide 11: Dentale Salt Mobile Shale Syn-rift Fault Blocks
Dentale Salt Mobile Shale Syn-rift Fault Blocks Outboard 3D – 2013 Outboard 3D – Dip Line PSTM Dip Line PSTM 10 km Tortue/Ruche 1994 3D Coverage Limit Prospectivity in Dentale folds and Syn-rift blocks
Slide 12: Salt Dentale Mobile Shale
Salt Dentale Mobile Shale Dentale Dentale Lead Lead (3D (3D PSTM) PSTM) 4km A Geology 4-way closure Stacked Dentale sands Scale of target Vertical closure of 130m over area of 12 km P50 oil-in-place of 250 mmbo About 4x Tortue Dentale 6 sand Intra Dentale Structure A Lead 3 Lead 1 Lead 2
Slide 13: Outboard Dentale Leads Based on 2D Aug 2013
Outboard Dentale Leads Based on 2D Aug 2013 Dussafu Outboard Leads From 2D Dussafu Outboard Leads From 2D Large Dentale Structures on 2D Close to Ruche and Tortue 150 – 700 meters water depth 30 – 200 million bbl oil (P50) Large structures confirmed Currently being mapped P50-P10 Recoverable MMBO To
Slide 14: Comparison of 2D and 3D Seismic
Comparison of 2D and 3D Seismic Comparison of 2D and 3D Seismic 2D Seismic 1991 PSTM 3D Seismic 2013 PSTM
Slide 15: Salt Mobile Shale Dentale
Salt Mobile Shale Dentale Geology Fault-separated twin 4-way closures Stacked Dentale sands Scale of combined target Vertical closure of 600m over area of km Combined P50 oil-in-place of 1.8 billion bbl Dentale Dentale Outboard Outboard Leads Leads & & (3D (3D PSTM) PSTM) Lead 3 Lead 1 Lead 2 15 km
Slide 16: Dentale Outboard Leads 1 & 2 (3D PSTM)
Salt Dentale Mobile Shale Salt Mobile Shale Dentale Dentale Outboard Leads 1 & 2 (3D PSTM) Dentale Outboard Leads 1 & 2 (3D PSTM) Dip Lines Lead 2 Lead 1 Lead 3 Lead 1 Lead 2 8 km 8 km Lead 1 Lead 2
Slide 17: Why Invest in Harvest?
Why Invest in Harvest? Why Invest in Harvest? Catalyst-Rich in Near Term and Beyond Debt-free Currently trading at less than the net proceeds expected from the sale of Venezuela business Gabon Dussafu block provides solid value and compelling upside Contingent resources confirmed Exploitation Area a
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